Astellas' geographic atrophy approval, Singapore's 20 years of work on advancing biotech, and AstraZeneca and CanSino's mRNA deal made our news this week. 2. 20 years in, Singapore still searches for its biotech success story
In a new report, Fierce Biotech examined Singapore’s biotech ambition 20 years after a government-led push to become a biotech hub. Temasek-backed Tessa Therapeutics’ sudden dissolution inevitably weakened investors’ confidence in Singapore’s biotech industry, which also faces a talent shortage. But observers and stakeholders believe Singapore may still have a big biotech success story. AstraZeneca signed an mRNA manufacturing deal with China’s CanSino Biologics. The Chinese company will help make certain vaccines by AZ during R&D. The deal comes a year after AZ axed an mRNA strategic partnership with Moderna in cardiovascular and oncology. 4. Daiichi Sankyo tipped to dominate antibody-drug conjugate market through 2029 With AstraZeneca-partnered Enhertu leading the way, Daiichi Sankyo will be the top antibody-drug conjugate player through 2029, GlobalData predicted. Sales from Daiichi’s ADCs will reach $10 billion by then, while Seagen and Roche will follow as distant second and third, respectively. In a recent update, Daiichi itself expects its oncology revenue could reach over $6.3 billion by its 2025 fiscal year. 5. Poseida sells $50M stake to Astellas, extending cash runway as gene therapy programs reviewed 7. Takeda, Denali drop Alzheimer's asset after phase 1 peak reveals 'narrow therapeutic window'
Takeda and Denali Therapeutics have decided to stop developing their Alzheimer’s disease candidate TAK-920. Takeda signed up to co-develop the antibody transport vehicle back in 2021. But the drug soon hit an FDA clinical hold, and new phase 1 data suggested the drug was too toxic at a high dose. Takeda and Denali are now looking at back-up molecules. 8. Takeda shells out $42M to settle Medicaid fraud claims in Texas Takeda has agreed to pay $42 million in Texas to resolve a whistleblower case that accused the company’s Shire unit of paying clinical nurse educators to refer and recommend ADHD drug Vyvanse to doctors in 2014 and 2015. Takeda denied the claims but said the deal is “in patients’ best interest.” 9. Astellas plots new Cambridge facility for R&D, business development (Release) 10. BioNTech expands DualityBio pact to include 3rd ADC (Release) 11. Sunbird Bio snaps up Glympse Bio for protein-based diagnostics