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Boehringer inks a €1.05B with Simcere & Roche shows what its weight-loss drug can do

AuthorAuthor

Joachim Eeckhout & Eduardo Longoria
January 28, 2026

 

Good morning! A biotech pivoting into weapons manufacturing wasn’t on many 2026 bingo cards. Genenta Science, which listed on Nasdaq in late 2021 as a cell-based gene therapy company, is planning a full rebrand to Saentra Forge, and a wholesale shift in strategy. 

The Milan-based biotech now wants to become a “strategic industrial consolidator” targeting privately held companies in the defense sector. Its first move: funding Italy-based ATC, an authorized manufacturer of tactical rifles, special-forces weapon systems, and competition-grade firearms, with the goal of eventually taking control.

Why now: With geopolitical risk rising and defense budgets swelling across Europe, Genenta is steering its $33 million cash reserve toward sectors with political tailwinds and faster paths to revenue.

Bottom line: Turns out the hottest growth market isn’t tumors, it’s geopolitical tension.

Enjoy today’s read!

—Joachim E.

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SNAPSHOT

Boehringer inks €1.05B deal for Simcere's preclinical IBD antibody

interview job

 

Boehringer Ingelheim will pay up to €1.05 billion for global rights (excluding China) to Simcere's preclinical bispecific antibody, SIM0709, targeting inflammatory bowel disease (IBD).

Why it matters: The deal boosts Boehringer's pipeline in IBD, a space where many patients still suffer despite available treatments, and positions SIM0709 as a potential first-in-class therapy.

Backstory: Boehringer currently markets Cyltezo for Crohn’s disease, a related condition, and has one other IBD drug in mid-stage development. Simcere, a rising Chinese biopharma, has made waves with high-profile antibody licensing deals, including a $1.05B pact with AbbVie.

Zoom in: SIM0709 targets two key inflammatory pathways, TL1A and IL-23p19, and has outperformed monotherapies in preclinical models.

Big picture: Pharma interest in IBD is surging, especially around TL1A and IL-23 pathways. TL1A interest in particular surged after Roche’s $7B acquisition of Telavant in 2023. IL-23p19 is also a validated target used in therapies from AbbVie, J&J, and Eli Lilly.

What's next: Boehringer and Simcere will now work to advance SIM0709 into clinical trials and expand its global development strategy.

SNIPPETS

What’s happening in biotech today?

🧪 GLP-1 gambit: Baseline Therapeutics has launched with plans to advance its GLP-1 analog BT-001 into late-stage development for alcohol use disorder (AUD), positioning itself against industry leaders like Eli Lilly. Though the San Francisco-based startup has not disclosed its funding, it will initiate two randomized, placebo-controlled Phase III trials in 2026. BT-001, a once-weekly treatment, is also slated for Phase II/III studies targeting opioid, cocaine, and methamphetamine use disorders later this year. The therapeutic potential of GLP-1 drugs in addiction is gaining traction, supported by clinical evidence and growing interest from established pharmaceutical companies.

🤖 AI alliance: Qilu Pharmaceutical has entered a partnership with Insilico Medicine worth up to $120 million to develop small molecule treatments for cardiometabolic diseases using Insilico’s AI-driven Pharma.AI platform. The collaboration aims to target undisclosed conditions within the cardiometabolic spectrum, such as obesity, Type 2 diabetes, and heart failure. Insilico will focus on molecule design and optimization, while Qilu will lead subsequent development and commercialization. The deal, which includes milestone payments but undisclosed upfront fees, adds to Insilico’s growing portfolio and follows its recent release of AI-designed candidates targeting established pathways like GLP-1R.

✂️ CRISPR caution: The FDA has lifted a clinical hold on one of Intellia Therapeutics’ two late-stage trials testing its CRISPR therapy, nexiguran ziclumeran (nex-z), following a patient death linked to a liver event. The resumed trial, Magnitude-2, targets hereditary transthyretin amyloidosis with polyneuropathy (ATTRv-PN), and will now include enhanced liver monitoring and an increased enrollment target. The parallel Magnitude trial for transthyretin amyloid cardiomyopathy (ATTR-CM) remains on hold amid higher scrutiny, given the older, more at-risk patient population. The death, attributed to septic shock, followed a serious liver event likely caused by the therapy.

 🧬 TCR triumph: NewCure Biotech, a Chinese cell therapy company, has raised over 200 million yuan ($28 million) in a Series B funding round. The company is advancing its TCR-T cell therapy pipeline for solid tumors. NewCure’s lead candidate, NW-101C, targets the PRAME antigen and is the first China-based TCR-T therapy against this target to enter clinical trials. NW-101C is currently being evaluated in a Phase I registrational study for several late-stage solid tumors, including ovarian cancer, melanoma, and triple-negative breast cancer.

💰 Funded fuel: Epidarex Capital, a UK-US venture firm, has announced the first close of its new fund, securing over $145 million to invest in early-stage life sciences companies. The fund aims to back up to 15 ventures focused on therapeutics and medical devices emerging from academic and translational research, particularly in oncology, cardiometabolic disease, autoimmunity, and neurology. The firm’s portfolio includes companies like Apellis Pharmaceuticals and Enterprise Therapeutics.

SNAP AGAIN

Roche’s weight-loss drug shows promise but still lags behind rivals

 

Roche's experimental obesity drug CT-388 helped patients lose 22.5 percentage points more body weight than placebo in a Phase 2 trial, comparable to Eli Lilly’s Zepbound.

Why it matters: The results suggest Roche has a competitive obesity drug in development, but it enters a market already dominated by fast-moving leaders like Lilly and Novo Nordisk.

Backstory: Roche acquired CT-388 through a $2.7B buyout of Carmot Therapeutics in 2023. The company has since expanded its obesity pipeline via deals with Zealand Pharma and is developing a muscle-preserving agent, emugrobart.

Big picture: Global demand for weight-loss drugs is surging, with analysts projecting over $100B in annual sales. Major players are racing to secure market share with both injectable and oral options. The pressure on Roche is only increasing with Lilly’s upcoming oral drug.

Zoom in: CT-388 mimics both GLP-1 and GIP hormones, similar to Zepbound. In a 469-person trial, patients on CT-388 lost up to 22.5 percentage points more weight than placebo; 18.3 points when accounting for dropouts. 48% of patients on the highest dose lost more than 20% of body weight. Gastrointestinal side effects were mostly mild, with 6% discontinuing treatment vs. 1% on placebo.

What’s next: Roche aims to begin Phase 3 testing by the end of March. Analysts remain cautious about commercial prospects unless Roche shows how CT-388 can stand out in a crowded field.

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