The week in pharma: action, reaction and insight – week to July 14, 2023

16 July 2023

By Barbara Obstoj-Cardwell. Editor

Deal-making news last week included China-headquartered BeiGene and Swiss pharma giant Novartis terminating their agreement on the development of ociperlimab as a treatment for lung cancer. On a more positive front, US tech-bio firm Recursion saw its shares rocket 115% on the news that NVIDIA had invested $50 millino in the company, which will be used to accelerate development of Recursion’s AI foundation models for biology and chemistry. On the regulatory front, Chinese biopharma Innovent Biologics and IASO Biotherapies gained approval for their multiple myeloma drug Fucaso from the China NMDA. Also of note, US biotech Theseus Pharmaceuticals saw its shares slashed by two-thirds following its decision to stop development of lead candidate THE-630 in gastrointestinal stromal tumors.

Novartis terminates TIGIT collaboration with BeiGene

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