BIOTECHNOLOGY MARKET ANALYSIS

Market News

Global Biotechnology Market: Key Developments

On June 29, 2022, Bayer AG, a Germany-based German multinational pharmaceutical and biotechnology company, opened a new U.S. cancer research and innovation center to the tune of US$ 140 million. It is a 62,100-square-foot precision molecular oncology research center, home to about 1000 biotechs.

On May 13, 2022, F. Hoffmann-La Roche Ltd, a Switzerland-based healthcare company, announced that it has made the breast cancer antibody cocktail drug PHESGO available in India, which will be priced 20% less and will be more convenient to administer than existing therapy. PHESGO is a fixed dose combination of two monoclonal antibodies Perjeta (pertuzumab) and Herceptin (trastuzumab) in Oncology for the treatment of HER - 2 positive breast cancer. The drug is approved for treating both early and late-stage or metastatic HER2-positive breast cancer.

On May 23, 2023, ReNAgade Therapeutics, U.S. based company manufacturing RNA medicines to correct disease, announced a US$ 300 million Series A financing round led by MPM BioImpact, U.S. based biotechnology investment firm, and F2 Ventures, Israel based healthcare investment platform. ReNAgade has built a comprehensive and complementary platform that combines its proprietary delivery technologies, including novel lipid nanoparticles (LNPs), with a broad array of coding, editing, and gene insertion tools, in an all-RNA system. ReNAgade aims to address major limitations in RNA therapeutics by enabling the delivery of RNA medicines to previously inaccessible tissues and cells in the body, substantially expanding the potential addressable disease market.

On May 25, 2023, Pfizer Inc., announced U.S. FDA approval of PAXLOVID (nirmatrelvir tablets and ritonavir tablets) for the treatment of mild-to-moderate COVID-19 in adults who are at high risk for progression to severe COVID-19, including hospitalization or death. The data showed an 86% reduction in risk of COVID-19-related hospitalization or death from any cause through Day 28 in patients who initiated treatment with PAXLOVID within five days of symptoms onset, compared to placebo. The approval was further supported by results of the secondary endpoint of phase 2/3 Evaluation of Protease Inhibition for COVID-19 in Standard-Risk Patients study, which showed a numerical reduction in COVID-19-related hospitalizations or death from any cause through Day 28 in a sub-group of non-hospitalized adults with confirmed COVID 19 infection.