China has approved Novo Nordisk’s obesity drug Wegovy, opening up a massive new market. However, Novo's patent on the active ingredient in Wegovy is set to expire in less than two years in China. Meanwhile, Pfizer’s former New York headquarters are being converted into 1,500 apartments, marking the largest conversion in the city’s history.
Key takeaways:
- Lyell Immunopharma reported two responses and a patient death in a breast cancer trial, while Zealand Pharma is raising nearly $1 billion for its obesity efforts.
- Biotech startup accelerator Curie.Bio has raised $380 million for a new fund to invest in biotechs that go through the accelerator and raise a Series A round.
- Intellia reported that its CRISPR-based therapy targeting a harmful protein called TTR can be redosed, based on early data from an ongoing Phase 1 study.
- China has approved Novo Nordisk’s obesity drug Wegovy, opening up a massive new market, but the company's patent on the active ingredient is set to expire in less than two years in China.