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Today, a brief rundown of news involving AstraZeneca and Novartis, as well as updates from Editas, Adaptimmune and Pfizer that you may have missed.
AstraZeneca will spend $2.5 billion over the next five years to set up a research and development center in Beijing, part of a broader engagement by the company with China’s biotechnology sector. The British firm, which has come under investigation by the Chinese government, said Friday it would partner with local government authorities on the planned investment. Simultaneously, AstraZeneca announced collaborations with three China-based biotechs: Harbour BioMed, Syneron Bio and BioKangtai. In the deal with Harbour, AstraZeneca will invest $105 million in company in return for an option to license two preclinical immune disease drugs. The companies will also work together on developing “multi-specific antibodies.” With Syneron, AstraZeneca is paying $75 million upfront to gain access to that company’s macrocyclic peptide platform. AstraZeneca also has a research hub in Shanghai. — Ned Pagliarulo
The Food and Drug Administration on Thursday approved Novartis’ complement inhibitor Fabhalta to treat C3 glomerulopathy, the drug’s third indication. Fabhalta is cleared to reduce protein levels in the urine of people with C3 glomerulopathy, a progressive and ultra-rare kidney disease. It’s the first drug to be made available in the U.S. specifically for the disease, according to Novartis, giving patients an option beyond broad immunosuppression and general symptom management. Novartis expects sales of Fabhalta to eventually climb above $3 billion annually. — Ned Pagliarulo
Editas Medicine’s chief financial officer Erick Lucera is stepping down on March 28 to take on the CFO role at Duchenne muscular dystrophy drug developer Dyne Therapeutics, the companies said Thursday. Lucera joined Editas in May 2023 and oversaw its finances amid an overhaul of its executive suite and a strategic shift to “in vivo” gene editing. Amy Parison, Editas' senior vice president of finance, will take Lucera’s place. The departure adds to a long list of executive turnover at Editas over the past several years. — Gwendolyn Wu
Cell therapy developer Adaptimmune said Thursday there is “substantial doubt” about its ability to remain solvent, and has hired TD Cowen to evaluate “strategic options” for the company and all of its programs. The company laid off 29% of its staff in the first quarter as part of a plan to cut expenses and become profitable in 2027. Adaptimmune won an approval from U.S. regulators in 2024 for a first-of-its-kind cell therapy called Tecelra, but analysts have been skeptical of its sales potential. — Gwendolyn Wu