• Biotech Snap
  • Posts
  • Coultreon raises $125M to rescue a Galapagos drug & AbbVie signs a $1.45B KRAS deal

Coultreon raises $125M to rescue a Galapagos drug & AbbVie signs a $1.45B KRAS deal

AuthorAuthor

Joachim Eeckhout & Eduardo Longoria
April 29, 2026

Good morning. Thinking about a hair transplant? You might want to comb over your options first. Veradermics just announced positive Phase 3 results for its oral treatment for male pattern hair loss, helping patients grow significantly more hair over six months. If approved, it could become the first new pill marketed for baldness in more than 30 years. Hair we go!

— Joachim E.

Here’s the best way to support our daily work: Forward Biotech Snap to a friend!

Was this email forwarded to you? Sign up here.

SNAPSHOT

Coultreon raises $125M to resurrect oral immune drug from Galapagos

Why it matters: Autoimmune diseases often rely on injectable biologics that suppress the immune system broadly, leaving patients vulnerable to infections and inconsistent results. A more targeted oral therapy could improve safety, convenience and long-term disease control for millions of patients.

Backstory: Formerly called Onco3R Therapeutics, Coultreon focuses on autoimmune treatments. It licensed COL-5671 from Galapagos in 2025 after the latter streamlined its pipeline. The funding round was led by Sofinnova Investments and included major investors like Novo Holdings and Regeneron’s venture arm.

Zoom in: COL-5671 targets salt-inducible kinases (SIKs), specifically SIK3, a protein linked to immune system signaling. Inhibiting SIK3 may influence multiple inflammatory pathways, including IL-23 and TNF, common targets of existing drugs. Early preclinical and Phase 1 data suggest potential across multiple diseases, including ulcerative colitis, Crohn’s disease and rheumatoid arthritis. The approach aims for broader and more durable disease control than current therapies.

What’s next: Coultreon will initiate Phase 2 trials this year and aims to generate early clinical data by 2027 to validate whether SIK3 inhibition can deliver meaningful patient outcomes.

SNAP AGAIN

AbbVie stakes up to $1.45B on KRAS drug, signaling deeper push into hot cancer target

Colorful Stack

AbbVie struck a deal worth up to $1.45B with Kestrel Therapeutics to co-develop a pan-KRAS inhibitor, KST-6051, with an option to acquire the company if key milestones are met.

Why it matters: KRAS mutations drive many cancers but have historically been hard to target. A drug that can inhibit multiple KRAS variants could unlock broader treatment options and position AbbVie in one of oncology’s most competitive and promising fields.

Backstory: KRAS belongs to the RAS protein family, long deemed “undruggable.” Progress began with Amgen’s Lumakras, approved in 2021, but current therapies target limited mutations. Meanwhile, competitors like Revolution Medicines are advancing next-gen inhibitors, intensifying industry interest. AbbVie had previously denied rumors of acquiring Revolution before pivoting to this partnership.

Zoom in: KST-6051 is an oral small molecule designed to inhibit multiple KRAS mutations (“pan-KRAS”). It has entered Phase 1 trials for advanced or metastatic solid tumors with KRAS mutations. AbbVie will fund development and pay upfront, milestone and potential acquisition-related fees.

Big picture: Pharma is racing to dominate the next wave of precision oncology, with RAS inhibitors emerging as a key battleground. Existing KRAS drug Lumakras generated $363M last year, highlighting the commercial potential of the drug class.

SNIPPETS

What’s happening in biotech today?

🏃‍♂️ RAS run: Staying in the RAS topic, Erasca reported phase 1 data suggesting its pan-RAS drug ERAS-0015 may have best-in-class potential, showing a 40% response rate in pancreatic cancer and 62% in non-small cell lung cancer, both exceeding benchmarks set by rival Revolution Medicines’ daraxonrasib. Despite this, Erasca’s stock fell sharply, possibly due to the death of a patient who developed pneumonitis and later withdrew supportive care. Uncertainty around safety signals, cross-trial comparisons, and a legal dispute with Revolution over data use, patents, and trade secrets also weighed on investor sentiment.

💰 Protein cash: Eli Lilly has entered a deal worth up to $2.25 billion with AI protein design company Profluent to develop recombinase-based gene editing therapies targeting diseases with high unmet need. Profluent will use its large-scale AI models to design site-specific recombinases, while Lilly will license and advance the resulting candidates through development. Backed by investors including Jeff Bezos, Profluent positions its technology as key to enabling complex DNA editing previously considered unattainable.

⚖️ Weight match: Boehringer Ingelheim reported that its glucagon/GLP-1 dual agonist survodutide achieved 16.6% weight loss at 76 weeks in a phase 3 trial, with 13.4% placebo-adjusted loss in adults without diabetes, roughly in line with existing GLP-1 therapies but below leading competitors like Eli Lilly’s Zepbound. While the drug may offer added benefits through glucagon’s effects on liver health and cardiometabolic risk, the topline data provided limited evidence to confirm this differentiation, with missing details on key measures such as waist reduction and safety. Questions also remain about tolerability, as no detailed phase 3 discontinuation or side-effect data were disclosed, leaving its overall profile unclear.

🧴 Vitiligo victory: Incyte’s oral JAK inhibitor povorcitinib met primary endpoints in two phase 3 trials for nonsegmental vitiligo, with 18.9% of patients achieving at least a 75% improvement in facial vitiligo scores at 52 weeks, significantly outperforming placebo and showing consistent safety with no new concerns. The results support planned regulatory filings in 2027 and reinforce Incyte’s broader dermatology pipeline. However, analysts noted the drug’s efficacy appears slightly below AbbVie’s rival JAK inhibitor Rinvoq, which has shown higher response rates and is already under regulatory review, potentially limiting povorcitinib’s competitive positioning despite its positive outcomes.

TOUR OPERATOR

Upcoming events

What did you think of today's newsletter?

Your feedback helps us create the best newsletter possible.

Login or Subscribe to participate in polls.

Share the Snap!

Know someone who’d enjoy this? Hit forward and pass it along.