The recent decision to merge Genentech’s two cancer departments was made for “scientific reasons,” executives explained to the media this morning.

MBX has fleshed out plans to take in over $136 million from its IPO as the biotech looks to bring a potential challenger to Ascendis Pharma’s rare endocrine disease drug Yorvipath into phase 3.

Relay Therapeutics has beaten its survival goal in a first-in-human breast cancer study, positioning the biotech to move into a pivotal trial that could establish its candidate as a challenger to AstraZeneca’s Truqap.

AstraZeneca has used artificial intelligence to devise a unique biomarker for its Daiichi Sankyo-partnered datopotamab deruxtecan (Dato-DXd), hoping to differentiate the antibody-drug conjugate (ADC) from competitors while offering an explanation why the TROP2-directed therapy appears to work only in some non-small cell lung cancer (NSCLC) patients.

After overseeing the $4.1 billion sale of radiopharma player RayzeBio to Bristol Myers Squibb, biotech veteran Ken Song, M.D., didn’t take long to set up his next big venture. He is now chairman, president and CEO of Candid Therapeutics, which has debuted with a $370 million series A and a goal to dominate the T-cell engager market.

Just over a year after launching with $33 million in seed funding, Boston-based Superluminal Medicines is supercharging its small-molecule drug development with a $120 million series A round backed by the likes of Eli Lilly.

Psyence Biomedical is paying $500,000 in shares to acquire fellow psilocybin-based biotech Clairvoyant Therapeutics and its phase 2-stage alcohol use disorder (AUD) candidate.

After revealing plans to hit the U.S. public markets less than a month ago, Zenas Biopharma and Bicara Therapeutics have mapped out the details behind their planned initial public offerings.

When Johnson & Johnson moved to purchase surgical robot developer Auris Health in 2019 for $3.4 billion in cash, like in many life science transactions, it agreed to pay out more—in this case, billions more—if the technologies it acquired went on to surpass certain goals.

Lykos Therapeutics CEO and founder Amy Emerson is stepping down, with Chief Operating Officer Michael Mullette taking over the top spot on an interim basis.