The exclusive biotech stories you need to read

Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox.

Good morning. As my editor said, it doesn’t feel like summer given how busy the news cycle has been. It’ll probably be another jittery week for biotech stocks after the big global selloff yesterday and a bunch more earnings coming this week.

The need-to-know this morning

• Shares of Elevation Oncology fell in pre-market trading after the company reported Phase 1 data of an antibody-drug conjugate.
• Daiichi Sankyo will pay Merck $170 million to jointly develop and commercialize a cancer drug that Merck obtained through its $680 million acquisition of Harpoon Therapeutics. 

Another dismal year of fundraising for biotech VCs

Life sciences VC firms are on pace for another record-low year of fundraising, having raised just 15 funds in the first half of this year. That compares with 53 funds in all of last year and 85 funds in 2022.

STAT+ Exclusive Story

Already have an account? Log in

This article is exclusive to STAT+ subscribers

Unlock this article — plus in-depth analysis, newsletters, premium events, and networking platform access.

Already have an account? Log in

Already have an account? Log in

Individual plans

Group plans

Monthly

$39

Totals $468 per year

$39/month Get Started

Totals $468 per year

Starter

$30

for 3 months, then $39/month

$30 for 3 months Get Started

Then $39/month

Annual

$399

Save 15%

$399/year Get Started

Save 15%

11+ Users

Custom

Savings start at 25%!

Request A Quote Request A Quote

Savings start at 25%!

2-10 Users

$300

Annually per user

$300/year Get Started

$300 Annually per user

View All Plans

Get unlimited access to award-winning journalism and exclusive events.

Subscribe

Log In