Arcus Biosciences shares rose 8% after the company presented updated results for its experimental kidney cancer drug casdatifan at an R&D day. Analysts said the data suggested the drug could be more potent than Merck's marketed medicine Welireg. Leerink Partners' David Risinger described a 'step-up in potency,' while Mizuho Securities' Salim Syed said the findings point to potential value in first-line treatment, possibly making casdatifan an 'all-line backbone therapy' for clear cell renal cell carcinoma.
TriGemX Bio announced plans to go public by merging with a blank-check company created by TCGX. The SPAC deal provides about $246 million in cash, from the vehicle's reserves plus a $160 million investment. TriGemX, formerly Kallyope, has since pivoted away from obesity programs and now focuses on elismetrep, a late-stage therapy for acute migraines.
Separately, Eli Lilly is partnering with Hong Kong-based METiS TechBio on AI-designed lipid nanoparticles for tissue-specific delivery in genetic medicine, with potential payouts up to $1.1 billion. AstraZeneca and Oracle Health and Life Sciences also announced an AI collaboration aimed at optimizing clinical trials, starting with an effort in Abu Dhabi to identify patients with uncontrolled hypertension and improve recruitment. No financial terms were disclosed for that deal.