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What’s in Today’s Brief? (June 1st Preview)
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M&A: Servier expands neurology footprint via Edgewise buyout
Servier agreed to acquire Edgewise Therapeutics’ muscular dystrophy business for $1.55 billion upfront, with total consideration up to $2.65 billion including potential milestones. The deal gives the French pharma access to sevasemten, an oral therapy designed to protect muscle from ongoing damage in neuromuscular disorders. Sevasemten is in a pivotal trial in Becker muscular dystrophy and a Phase 2 study in Duchenne muscular dystrophy. Servier said the program could generate pivotal data by year’s end, positioning the asset as a near-term catalyst for the neurology pipeline. The transaction underscores how large-cap pharma continues to consolidate late-stage neuromuscular opportunities to accelerate decision-making and de-risk development timelines.
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Clinical update: Daraxonrasib shows landmark survival in RAS G12-mutant pancreatic cancer
Revolution Medicines reported expanded ASCO data for daraxonrasib in second-line metastatic pancreatic cancer, highlighting a survival benefit in patients with KRAS/ RAS G12 mutations and in the all-comer population. The pivotal Phase 3 trial results were published alongside the presentation. Across the overall trial population, daraxonrasib extended median survival to 13.2 months versus 6.6 months for chemotherapy. Among patients with RAS G12 mutations, median survival was 13.2 months versus 6.6 months, with disease control measures also doubling compared with chemotherapy benchmarks. Investigators and outside experts characterized the dataset as practice-changing for a second-line setting where median outcomes have historically been well below one year, with ASCO noting improved pain and tumor marker trends soon after dosing.
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ASCO: Ivonescimab improves overall survival in Chinese squamous NSCLC chemo combo
Akeso’s ivonescimab, a PD-1/VEGF bispecific, reduced the risk of death by 34% versus a PD-1 inhibitor–chemotherapy comparator in a Phase 3 study in China for previously untreated advanced squamous non-small cell lung cancer. Results were presented at ASCO and published simultaneously in The Lancet. In the Harmoni-6 interim analysis, the regimen of ivonescimab plus chemotherapy beat the control arm on overall survival, with a prespecified statistical threshold met. The data were framed as a critical readout for a China-based dataset that is increasingly used by developers to establish clinical leadership. The outcome further intensifies competition in the emerging PD-(L)1xVEGF bispecific class and may influence global development strategy for the regimen beyond China.
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Regulation: FDA Fast Track for Autobahn’s elunetirom in bipolar depression
Autobahn Therapeutics said the FDA granted Fast Track status to elunetirom (ABX-002), an investigational oral small molecule prodrug designed to activate CNS thyroid hormone receptors as an adjunctive treatment for bipolar depression. The designation is not approval, but it can increase regulatory interaction frequency and potentially enable expedited review later. Elunetirom is being evaluated in the Phase 2 AMPLIFY-BD trial (NCT06869187), with topline results expected in Q2 2026. Autobahn positioned the program as aiming to limit peripheral thyroid receptor effects that can accompany systemic thyroid hormone exposure. The Fast Track step adds regulatory momentum ahead of clinical readouts in a space where effective options for bipolar depression remain limited.
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Biotech turnaround and capital markets: Avenzo reverse-merges with Rallybio after UCB deal disruption
Rallybio agreed to merge with Avenzo Therapeutics in a new reverse merger after a previous Candid Therapeutics deal was derailed by UCB’s $2 billion buyout. Under the agreement, Avenzo shareholders are set to control 97.2% of the combined company and the companies plan to raise $215 million from new and existing investors. The financing is expected to fund operations into late 2028 and supports four Phase 1 programs, including ex-China rights to CDK2 and CDK4 inhibitors and two bispecific antibody-drug conjugates. Avenzo previously shared Phase 1 data for AVZO-021 in HR-positive, HER2-negative breast cancer, reporting a median progression-free survival of 5.3 months across monotherapy doses. The transaction highlights how clinical-stage biotechs are reconfiguring capital strategies to maintain runway and progress early oncology assets amid shifting deal outcomes.
...and 5 more selected Biotech stories in today’s full edition — or archive.
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