TRexBio Raises $116.7 Million In IPO, Funding Treg Programs Into 2029
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Where capital is flowing and why the tape moves, across funding rounds, M&A, IPOs and market analysis.
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Ono Pays $80 Million Upfront For Biohaven IgG Degraders, Adding A Phase 3 Graves’ Asset In Asia
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TCGX Launches $600 Million Asia Fund, Extending Its Biotech Investing Model Into China And Beyond
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Matchpoint Nets $150M Series B To Advance MPT-062, As Covalent Drug Investors Back Autoimmune Focus
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BMO Backs Merck’s Post-Keytruda Setup, Flags Bristol Myers’ $30-Plus Billion 2028 Exposure
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Sarepta Gains New Elevidys Data In Older Duchenne Patients, As Jefferies Points To A Turnaround Path
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TRex Bio Targets $111.3M IPO, As Retension And Lycia Join A Busy 2026 Listing Window
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Adecto Shuts Down After 12 Years, Citing A Risk-Averse Market For Preclinical Cancer Targets
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Oct 7, 2026Caribou Ends Clinical Pipeline After Financing Freeze, As Board Explores Strategic Alternatives
Caribou said the current financing environment for allogeneic CAR-T therapies made it impossible to secure the capital needed to keep advancing its programs. The company had reported $113.8 million in cash, cash equivalents and marketable securities as of June 30 and had previously said that runway could extend through the end of 2027.
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Oct 6, 2026TRex Bio Targets $111.3M IPO, As Retension And Lycia Join A Busy 2026 Listing Window
TRex Bio, Retension Pharmaceuticals and Lycia Therapeutics each moved a step closer to the Nasdaq with fresh SEC filings. The filings show a market still willing to fund development-stage biotech, but also one where companies are going public with highly specific use-of-proceeds plans tied to clinical execution.
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Oct 6, 2026Viking Therapeutics Closed About $575 Million After VK2735 Phase 1 Data, But Ended September Down 3.18%
September trading in biotech was relatively muted at the index level, with the XBI down 3.5% for the month, but individual names still saw large swings tied to data and financing. Viking Therapeutics and Longeveron offered a clear split between a company able to raise fresh capital off positive obesity data and one forced into strategic review after its lead asset failed.
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Oct 6, 2026Lilly Expands Gate Alliance Past $870 Million, Adding Targets For Extracellular Protein Degraders
The new agreement follows a July 2025 collaboration worth up to $856 million and gives Lilly another shot at a small-molecule drug class aimed at difficult-to-drug extracellular proteins. For Gate, the repeat deal is also a financing signal: a large pharma partner is increasing exposure before clinical proof of concept.
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Oct 3, 2026BMO Backs Merck’s Post-Keytruda Setup, Flags Bristol Myers’ $30-Plus Billion 2028 Exposure
Merck still faces the industry’s largest single-product replacement challenge, with Keytruda’s loss of exclusivity beginning at the end of 2028 and putting $33 billion in revenue at risk, according to BMO’s Sept. 9 report. But BMO argues Merck has already put multiple sizable assets in place, while Bristol Myers Squibb remains more dependent on riskier readouts from a smaller set of programs.
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Oct 3, 2026Adecto Shuts Down After 12 Years, Citing A Risk-Averse Market For Preclinical Cancer Targets
The Boston-based immunotherapy startup was founded by researchers from Tufts University in 2014 to build therapies and diagnostics for ADAM8-positive cancers. Its lead preclinical program, AD100, aimed to inhibit ADAM8 and reprogram both lymphoid and myeloid cells, but the company had not reported a traditional seed or venture equity round.
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Oct 2, 2026Sarepta Gains New Elevidys Data In Older Duchenne Patients, As Jefferies Points To A Turnaround Path
The new analysis from EMBARK and ENDEAVOR compared 25 treated patients with external controls and, according to Sarepta, showed clinically meaningful effects on ambulatory motor function, time to rise from the floor, and gait speed. For investors, the update matters because it arrives after deaths linked to the viral vector behind Elevidys and another Sarepta gene therapy, a temporary U.S. shipment suspension, and a narrowed label.
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Oct 2, 2026Vertex Buys Crinetics For $10 Billion, As Biopharma M&A Slows Sharply In Q3
Third-quarter biopharma M&A cooled materially from the prior quarter, with spending falling to just under $30 billion across 22 transactions, according to S&P Capital IQ figures cited by BioSpace. Vertex stood out in that quieter market with a Crinetics acquisition originally tallied at $10 billion by the companies, or $8.8 billion including debt and other factors by S&P Capital IQ.
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Sep 29, 2026AstraZeneca Invests $2 Billion In Summit To Expand Ivonescimab ADC Combinations
The deal has three parts: AstraZeneca will buy convertible preferred stock equivalent to about 12% of Summit at a premium to Summit’s Monday closing price, jointly fund clinical trials pairing ivonescimab with sonesitatug vedotin, and set up a nonbinding framework for additional combinations. The move signals AstraZeneca sees value in using a PD-1xVEGF bispecific as a combination backbone for its ADC portfolio ahead of a global Phase 3 readout.
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Sep 29, 2026Precision Neuroscience Raises $250 Million Series D, Funding Next FDA Steps For Layer 7
The company said it has now raised $430 million in total, pairing fresh capital with an FDA 510(k) approval won in March 2025 for a temporary Layer 7 cortical interface developed with Medtronic. The investment signal is that backers are still willing to fund BCI companies that can show regulatory progress, clinical access and a path to commercialization infrastructure.
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Sep 25, 2026ADARx Prices $446.3 Million IPO At $17, As City Therapeutics Files For Nasdaq
ADARx sold 26.25 million shares at $17, above its earlier expectations, and could raise more if underwriters exercise an option for another 3.9 million shares. A concurrent $100 million private placement from AbbVie adds strategic validation as the company funds multiple siRNA programs, while City Therapeutics signals that investor appetite for RNA remains open beyond a single issuer.
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Sep 23, 2026Enveda Raises $311M Series E To Push Three Programs Toward Late-Stage Development
Enveda said the new capital will support advancement of two programs that have already generated early human data and a third asset in phase 1, while also helping move earlier candidates into the clinic. For a company built around nature-derived chemistry and AI, the round shifts the focus from platform promise to whether it can repeatedly convert early clinical signals into a development-stage business.
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