In other news, Acorda Therapeutics has filed for bankruptcy and plans to sell its assets to Merz Therapeutics for $185 million. The article also mentions the U.S.'s next steps in Medicare drug price negotiations with pharmaceutical companies, AbbVie's new corporate campaign, and Johnson & Johnson's focus on rare maternal-fetal diseases.
Key takeaways:
- Danish drugmaker Genmab is set to acquire ProfoundBio for $1.8 billion in cash, marking the latest in a series of deals in the field of antibody-drug conjugate therapies for cancer.
- Oruka Therapeutics is going public via a reverse merger with ARCA Biopharma and has raised $275 million via a PIPE with a syndicate of health care investment funds.
- Biopharma companies are increasingly turning to AI to analyze data from past clinical trials, genomic data banks, and other health records to predict how therapies might work.
- Acorda Therapeutics, a company that makes drugs to improve neurological function in diseases like Parkinson’s and multiple sclerosis, has filed for bankruptcy and will sell its assets to Germany’s Merz Therapeutics for $185 million.