Vir Biotechnology’s second-quarter earnings report wasn’t short of big news. The company welcomed a trio of clinical-stage T-cell engagers (TCEs) from Sanofi while discarding a quarter of its workforce and a clutch of preclinical vaccine programs.

Veteran venture capital firm venBio has raised another half a billion dollars to invest in biotechs working on diseases with unmet needs. The $528 million raised for “Fund V” lines up nicely with the $550 million brought in for its fourth fund in 2021 and once again surpasses the comparatively paltry $394 million raised in 2020.

As the market for GLP-1 injections continues to grow, BD aims to ride that wave by providing drugmakers with its prefilled syringes.

After more than 30 years, gene therapy trailblazer James Wilson M.D., Ph.D., is leaving the University of Pennsylvania. He will be spearheading two new companies meant to translate the scientific discoveries made in the school’s Gene Therapy Program, where he served as director, into new treatments.

Instil Bio has been a biotech in search of a pipeline after it scrapped its lead assets over the last couple of years. Now, it seems to have found a pair of clinical-stage candidates from China to instill it with new purpose.

ALX Oncology’s phase 2 gastric cancer response rate has weakened. After seeing its CD47 blocker easily beat control over the first half of the trial, the biotech reported a much closer fight in the second part of the study—and investors were quick to send the stock spiraling downward.

Valneva has added to its growing arsenal of vaccines by handing over 10 million euros ($10.7 million) upfront to LimmaTech for the global license to a Shigella candidate that once formed part of a GSK partnership.

Otsuka Pharmaceutical has picked up Boston-based Jnana Therapeutics for $800 million so the Japanese biotech can get its hands on a clinical-stage oral phenylketonuria (PKU) drug.

OS Therapies will list on the NYSE American stock exchange this morning via a $6.4 million IPO that the biotech will use to push forward with its immunotherapy and antibody-drug conjugate plans.

Since its passage in August 2022, the Inflation Reduction Act (IRA) has attracted criticism and even derision from biopharma leaders because it gives Medicare the ability to negotiate drug prices. The possibility of lowered revenues and less money to put into R&D led some attendees at the 2023 American Society of Clinical Oncology and BIO International Convention meetings to dub the bill the “Innovation Reduction Act.”