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      Deals:
      




      Bayer is licensing a KRAS G12D inhibitor from Kumquat Biosciences in a deal worth up to $1.3 billion.
      




      Doximity bought Pathway for $63 million.
      




      10x Genomics bought Scale Biosciences and its single-cell profiling solutions.
      




      Miami University entered into a licensing agreement with EYWA Biotech.
      




      Quantum BioPharma, through its subsidiary Huge Biopharma Australia, signed an agreement with a leading contract development and manufacturing organization to manufacture an oral drug formulation of Lucid-MS.
      




      PureTech Health spun off its lead drug to Celea Therapeutics.
      




      FDA:
      




      The FDA is considering removing its authorization of Pfizer’s COVID-19 vaccine for healthy children under the age of five.
      




      Insmed received FDA approval for the first DPP1 inhibitor, in lung disease.
      




      The agency limited access to Bluebird Bio’s gene therapy, Skysona, because of links to a heightened risk of blood cancer.
      




      Viatris and Amphastar Pharmaceuticals received approval for their iron sucrose injection products to treat iron deficiency anemia in patients with chronic kidney disease.
      




      GSK said the FDA accepted its application for priority review of gepotidacin, an oral antibiotic to treat sexually transmitted uncomplicated gonorrhoea.
      




      Thermo Fisher received approval for NGS-based companion diagnostic for a new non-small cell lung cancer treatment.
      




      IO Biotech will seek an FDA filing even though its cancer vaccine narrowly failed a pivotal skin cancer study.
      




      The FDA announced an end to the IV saline solution shortage.
      




      Funding rounds:
      




      Compass Therapeutics sold $120 million in stock.
      




      Life sciences investing firm Portal Innovations is looking to raise a $100 million fund to help entrepreneurs from universities across the U.S.
      




      X4 Pharmaceuticals announced $60 million PIPE financing led by Coastlands Capital, Bain Capital Life Sciences and New Enterprise Associates.
      




      Fertility startup Gameto raised $44 million.
      




      Nasus Pharma launched its IPO, raising $10 million.
      




      BridgeBio Oncology Therapeutics went public.
      




      Layoffs:
      




      Generation Bio is shedding 90% of its workforce.
      




      Dewpoint Therapeutics is letting go of 70% of its workforce. 
      




      Bicycle Therapeutics is reducing its headcount by around 25%.
      




      Cold Chain Technologies is set to eliminate 82 jobs at its headquarters in Massachusetts.
      




      Merck will let go of 58 people at its New Jersey headquarters, effective November 14.
      




      Abata Therapeutics ceased operations due to funding challenges.
      




      Vedanta Biosciences laid off 20% of its workforce.
      




      Absci is laying off an undisclosed number of employees.
      




      Fate Therapeutics is laying off 12% of its staff. 
      




      ORIC Therapeutics is laying off 20% of its employees. 
      




      Industry news:
      




      AbbVie unveiled a $195 million investment to expand active pharmaceutical ingredient manufacturing in the U.S.
      




      Bloomberg reported that BlinkRx, a company that has Donald Trump Jr. on its board, just released a new service to help pharma companies quickly create direct sales platforms.
      




      A group of drug companies have formed a group, called the IRA Watchdogs, to present lawmakers with research on the negative impacts of Medicare drug price negotiations
      




      Sarepta Therapeutics disclosed new safety data, including liver injury rates, for its Duchenne muscular dystrophy gene therapy Elevidys during a webinar hosted by UCLA.
      




      Eli Lilly will raise the price of Mounjaro in the U.K. by up to 170% as the pharma industry responds to U.S. pressure to equalize international drug prices.
      




      Pfizer and Astella Pharma’s Padcev (enfortumab vedotin) and Merck’s Keytruda (pembrolizumab) administered perioperatively extended survival in certain patients with muscle-invasive bladder cancer in a Phase 3 trial.
      




      CytomX disclosed details of a patient death from its experimental colorectal cancer drug “to address certain recent social media posts.”
      




      The Annals of Internal Medicine rejected Health and Human Secretary Robert F. Kennedy Jr.‘s call for retraction of vaccine study.
      




      Sarepta sold $174 million in Arrowhead Pharmaceuticals stock it purchased  in November, while also transferring $50 million in stock back to Arrowhead to pay half of that first milestone payment.
      




      Elicio Therapeutics’ experimental peptide vaccine induced an immune response in a small study of patients with pancreatic and colon cancers.
      




      Novartis filed a lawsuit against Rhode Island seeking to block the enforcement of a new state law regulating the 340B Drug Pricing Program.
      




      Biogen said it sees potential in combining Alzheimer’s and obesity drugs.
      




      President Donald Trump ordered his health officials to secure a six-month supply of advanced pharmaceutical ingredients for drugs the administration determines are critical for national health and security.
      




      Summit Therapeutics didn’t hold an earnings call as deal rumors swirl. 
      




      LiveWorld, a 2024 MM+M Agency 100 honoree, posted healthcare revenues of $2.4 million in Q2.
      




      Sandoz launched a renewable energy partnership to cover nearly 90% of electricity demand for European operations.
      




      Abridge added live prior authorization to its AI scribe with Highmark Health.
      




      Texas Attorney General Ken Paxton sued Lilly over an alleged kickback scheme.
      




      Scripta launched a provider navigator tool.
      




      Swiss-based hearing aid manufacturer, Phonak, unveiled the smallest rechargeable custom in-the-ear hearing aid, the Virto R Infinio.
      




      Calcium+Company, a 2025 MM+M Agency 100 honoree, opened a dedicated office in New York City to support its public relations division, PRotein.
      




      The European Medicines Agency granted orphan designation to rilzabrutinib, a reversible covalent Bruton’s tyrosine kinase inhibitor, for IgG4-related disease.
      




      To read last week’s edition of Rx Rundown, click here.