Pharma tries to tamp down broad China restrictions
AI-focused VC firm raises $800M, Merck’s new cholesterol pill, and more biotech news from The ReadoutAdobeElaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways. . .
AI-focused VC firm raises $800M, Merck’s new cholesterol pill, and more biotech news from The ReadoutAdobeElaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writesThe Readout newsletter, and co-hosts STAT’s weekly biotech podcast,The Readout Loud. You can reach Elaine on Signal at elaineywchen. 70. Daniel covers the intersection of the health industry and the federal government. He reports on corporate influence in government, the health consequences of federal policies, and the politics of health care. Confidential tips can be sent on Signal at danielp. 100. Want to stay on top of the science and politics driving biotech today?Sign upto get our biotech newsletter in your inbox. Good morning. All my social media feeds have been filled withJimothy the raccoon, and I hope your feeds now will be too. The need-to-know this morningCelldex Therapeutics said its experimental drug barzolvolimabfailed in a Phase 2 studyin the skin condition prurigo nodularis, sending its shares down in premarket trading. The company is continuing to test the drug in a number of other indications, with data expected in September or October from Phase 3 trials in chronic spontaneous urticaria, which causes chronic hives. Summit Therapeuticsreleased updated survival datafrom its Phase 3 HARMONi trial testing the drug ivonescimab in a form of non-small cell lung cancer. The FDA is set to make an approval decision on the drug in the disease by Nov. 14. Pharma tries to tamp down broad China restrictionsFrom STAT’s Daniel Payne:Pharmaceutical leaders are trying to convince policymakers to back off pushes for aggressive restrictions on investments in Chinese firms. STAT+ Exclusive StoryAlready have an account?Log inThis article is exclusive to STAT+ subscribersUnlock this article — plus in-depth analysis, newsletters, premium events, and news alerts. Already have an account?Log inView All PlansTo read the rest of this story subscribe to STAT+. SubscribeNational Biotech ReporterElaine’s stories explore the boom in new obesity treatments, new drug payment models, the ways companies are affected by FDA changes, and the emerging psychedelics drug sector. She co-writesThe Readout newsletter, and co-hosts STAT’s weekly biotech podcast,The Readout Loud. You can reach Elaine on Signal at elaineywchen. 70. Washington CorrespondentDaniel covers the intersection of the health industry and the federal government. He reports on corporate influence in government, the health consequences of federal policies, and the politics of health care. Confidential tips can be sent on Signal at danielp. 100.