Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating, because that oh-so familiar routine of meetings, deadlines, and online calls has predictably returned. This is especially true for the countless folks who are attending the JP Morgan Healthcare Conference, which somewhat resembles a Woodstock for the biopharma crowd. So time to get cracking with a cup or two of stimulation. Our choice today is orange creme. Please feel free to join us. Meanwhile, here are a few tidbits to get you going. Hope your day is smashing and that you conquer the world. And of course, do keep in touch. …
Noubar Afeyan, one of biotech’s top investors, warned in an annual letter that a backlash against science in the U.S. could endanger U.S. life expectancy, take “a sledgehammer” to biotech innovation, and give China a scientific and economic edge, STAT says. His letter, sent through his company-building group Flagship Pioneering, was issued on the first day of the annual J.P. Morgan Healthcare Conference. The letter is unusually political for an investor who works in the fields of venture capital and drug development, and, although he doesn’t mention names, Afeyan is clearly referencing both cuts to research made by the Trump administration and statements about vaccines and other medicines from top officials such as U.S. Health and Human Services Secretary Robert F. Kennedy Jr.
Abivax shares surged as much as 31% in early Paris trading as speculation mounted over a possible takeover of the French biotech, Bloomberg News writes. Abivax is entering a pivotal year, with a slate of clinical trial results expected for the experimental drug obefazimod. France’s La Lettre reported that Eli Lilly is ready to offer $17.5 billion to buy the company, but is waiting for an indication from the French Finance Ministry as to whether a takeover would be subject to foreign investment controls. Treasury review is necessary in France and generally takes about three months, according to Abivax chief executive officer Marc de Garidel. But he declined to comment on whether Abivax had been approached by Lilly.
Continue to STAT+ to read the full story…
STAT Pharma: The science and business of new drug development
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