In healthcare updates, European biotech Agomab has raised a $100 million series C round for developing treatments for Crohn’s patients. Moderna announced positive interim results from the phase 1/2 trial of its combination flu/Covid vaccine. Shionogi's Covid antiviral ensitrelvir showed promising results in clinical trials. Bristol Myers Squibb will acquire Mirati Therapeutics in a deal valued at $4.8 billion. Precede Biosciences has emerged from stealth with $57 million in financial backing for developing liquid biopsy technology. Cedars-Sinai has launched a joint venture with K Health for an AI-powered chatbot for medical intake. Other funding news includes Headway's $125 million Series C funding, Diana Health's $34 million Series B financing, and Commons Clinic's $19.5M Series A round.
Key takeaways:
- Tel Aviv-based Teva, one of the largest generic drugmakers in the world, does not expect the war to have a “meaningful impact” on its business, despite the ongoing conflict between Israel and Hamas.
- Soroka Medical Center in Beersheva, Israel, is using facial recognition technology provided by Corsight AI to help family members locate their missing loved ones amid the conflict.
- Several healthcare companies have announced significant developments, including Agomab's $100 million series C round for Crohn's disease treatment, Moderna's positive interim results for its combination flu/Covid vaccine, and Bristol Myers Squibb's $4.8 billion acquisition of Mirati Therapeutics.
- More employers are expected to cover weight loss and diabetes drugs like Ozempic and Wegovy in 2024, potentially reducing out-of-pocket costs for workers.