Latest Deals

GSK’s new asset efimosfermin has already performed well in a Phase II trial, with the drugmaker saying it is now ‘Phase III ready’. Credit: JUSTIN TALLIS / Getty Images

GSK has inked a deal worth a potential $2bn to acquire Boston Pharmaceuticals’ efimosfermin, a drug ready to hit Phase III trials for the treatment of liver disease. The UK big pharma company will pay $1.2bn upfront for Boston’s subsidiary BP Asset IX, which will give the company access to efimosfermin. GSK has also agreed to pay additional milestone payments totalling $800m, along with tiered royalties to Novartis, which originally owned the therapy.

Eli Lilly is strengthening its position in genetic medicine for hearing loss through a new collaboration with South Korea-based biotech Rznomics. The agreement, centred on the development of RNA-based gene therapies for sensorineural hearing loss, carries a potential value exceeding $1.3bn in milestone payments. Rznomics disclosed the deal on 15 May, though financial details of the upfront payment were not shared.

Pathos AI has raised $365m in a Series D funding round as it prepares to widen its AI-enabled platform to advance the development of oncology drugs. This finance boosts the company’s post-money valuation to an estimated $1.6bn. The proceeds from the round will progress Pathos AI’s clinical-stage pipeline and further develop its AI Foundation Model, specifically designed for oncology.

Set against a backdrop of barren biotech investment, Vivo Capital has secured $740m to back preclinical and clinical-stage life science companies. The funds will be allocated in the latest cycle of the Vivo Opportunity Fund, an evergreen public pot that runs in three-year investment cycles. Unlike traditional funds with a fixed lifespan, evergreen investments occur over periodic intervals.