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What’s in Today’s Brief? (May 7th Preview)
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M&A reshapes rare-disease drug footprint
Angelini Pharma is buying Catalyst Pharmaceuticals for about $4.1 billion in cash, securing a foothold in the U.S. rare-disease market and expanding its neurology presence. The deal values Catalyst at $31.50 per share, representing a 28% premium to the prior 30-day period before deal talk became public. Catalyst sells three approved medicines, and Angelini said the acquisition strengthens its portfolio and platform in neurology. The transaction also underscores how quickly large pharma and specialty companies are consolidating established rare-disease franchises to build patient access and revenue durability.
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Big Pharma eyes next ophthalmology implant wave
Bayer agreed to acquire Perfuse Therapeutics for $300 million up front, with the total potential value reaching $2.45 billion, as the German drugmaker looks to broaden its ophthalmology pipeline. Perfuse’s lead program, PER-001, is an endothelin receptor antagonist delivered via a slow-release, dissolvable implant for eye disorders. Perfuse’s Phase IIa data last year included improvements in glaucoma visual-field measures and diabetic retinopathy contrast sensitivity, with the implant dosed intravitreally about every six months. Bayer said the deal complements its existing ophthalmology expertise and commitment to developing therapies for conditions with significant unmet need.
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Mid-stage win advances skin inflammation pipeline
Avalo Therapeutics reported Phase 2 success for abdakibart in hidradenitis suppurativa, meeting the trial’s primary endpoint on the HiSCR75 response rate at week 16 in the Lotus study. Shares jumped on the topline outcome, and Avalo said the response supported moving toward registrational Phase 3 work. The randomized Phase 2 design enrolled 253 adults with moderate-to-severe HS and tested two abdakibart dosing regimens against placebo. Avalo framed the dataset as a basis to advance the humanized anti–IL-1β antibody program despite cross-trial comparisons that can be confounded by differing placebo rates.
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Moderna launches first human tests of Lyme mRNA vaccine
Moderna has started a clinical trial for an experimental mRNA vaccine designed to prevent Lyme disease, enrolling about 350 healthy adults aged 18 to 70 in a randomized, placebo-controlled study. The trial will monitor safety and measure immune responses to assess whether the vaccine can protect against infection. The study is registered as NCT07561294 and is running across multiple sites in Canada and the U.S.-adjacent region. Moderna’s entry highlights continued investment in mRNA platforms for infectious disease prevention beyond established respiratory targets.
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Immuno-oncology: UCB expands T-cell engager ambitions
UCB agreed to acquire Candid Therapeutics for up to $2.2 billion, extending its presence in T-cell engager (TCE) antibodies for autoimmune and inflammatory indications. The deal adds Candid’s lead asset, cizutamig, a BCMA x CD3 bispecific designed to target plasma cells and B cells while aiming to manage cytokine release. Candid’s pipeline also includes additional Phase I programs and IND-enabling candidates. The transaction positions UCB to add China-derived autoimmune assets into its broader immunology strategy and keep building next-generation TCE capabilities.
...and 5 more selected Biotech stories in today’s full edition — or archive.
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