Novartis is set to close its sites in Munich and Boston, resulting in the loss of 330 jobs, following its $2.9 billion acquisition of MorphoSys. The closures are expected to be completed by the end of 2025. This move comes as Novartis continues to expand its oncology portfolio and engage in various licensing deals.
BioAge Labs has entered a multi-year partnership with Novartis to tackle age-related diseases, potentially worth up to $550 million. The collaboration will leverage BioAge's human longevity datasets and Novartis's expertise in exercise biology to discover new therapeutic targets and explore the biological mechanisms of aging. This agreement follows BioAge's recent IPO and the discontinuation of a phase 2 obesity trial due to safety concerns.
BioAge Labs shares surged 14% to $4.67 following a research collaboration with Novartis, potentially worth up to $550 million. The partnership will explore aging-related diseases and the impact of physical exercise on longevity, combining BioAge's datasets with Novartis's expertise. BioAge will receive initial funding and milestone payments, with both companies able to pursue novel targets identified during the collaboration.
BioAge Labs has announced a multi-year collaboration with Novartis to discover novel therapeutic targets for age-related diseases, leveraging BioAge's extensive human longevity data and Novartis's expertise in exercise biology. The partnership includes up to $20 million in upfront payments and research funding, with potential future milestones totaling up to $530 million. This collaboration aims to explore the biological mechanisms of aging and the benefits of physical exercise to develop transformative therapies.
Novartis has partnered with BioAge Labs in a multi-year collaboration to discover new therapies for age-related diseases, involving up to $20 million in funding and potential milestones of $530 million. The partnership will leverage BioAge’s extensive human longevity datasets and advanced analytics to identify healthy lifespan determinants. This collaboration comes after BioAge faced a setback with its lead asset, azelaprag, which was discontinued due to safety concerns in a recent study.
AbbVie's schizophrenia drug emraclidine failed two mid-phase trials, performing no better than placebo, resulting in a $40 billion market cap loss for the company. This setback follows the recent approval of Bristol Myers Squibb's Cobenfy, the first new schizophrenia drug in decades, which boosted BMS's share price by 12%. The failure raises concerns for other companies developing similar drugs in the same class.
BioAge Labs has halted its mid-stage study of the obesity drug azelaprag due to safety concerns after participants showed elevated liver enzymes, leading to a 75% drop in share price. The company plans to provide an update on azelaprag's development in early 2025, while also pursuing another program targeting central nervous system disorders.
Biopharma IPOs are experiencing a surge, with companies like Septerna and Ceribell achieving significant post-IPO price increases. This success is raising hopes that more tech-related firms will follow suit, as venture capital and hedge fund investments in these biopharma companies remain strong.
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