Daily Snap - 11. September 2025

Author

Joachim Eeckhout
September 11, 2025

 

Good morning! IQVIA, one of the world’s leading CROs, plans to launch its Clinical Trial Financial Suite in 2026, an AI-driven platform designed to fully automate clinical site payments. The tool will handle everything from budgeting and invoice processing to flagging irregularities, with the company estimating it could cut processing times by up to 50%. Let’s just hope this AI proves more reliable than ChatGPT’s sometimes unpredictable “hallucinations,” or the experiment could turn out to be an expensive one.

Enjoy today’s read!

—Joachim E.

SNIPPETS

What’s happening in biotech today?

🧠Schizophrenia sprint: LB Pharmaceuticals raised $285 million in its Nasdaq debut yesterday, marking the largest biotech IPO of the year and the first major offering since February amid a prolonged funding drought. The company priced 19 million shares at $15 each, exceeding earlier expectations, and will trade under the symbol “LBRX.” Proceeds will support the development of LB-102, an oral schizophrenia drug derived from amisulpride, which showed positive Phase 2 results and is headed for Phase 3 trials in early 2026. LB is also developing injectable versions and exploring bipolar depression treatment, despite financial pressures and broader industry risks.

✂️Novo trimdown: Novo Nordisk announced it will lay off approximately 9,000 employees, or 11% of its global workforce, as part of a major restructuring aimed at improving agility amid rising competition and a declining stock price. The move, led by new CEO Mike Doustdar, is expected to save $1.26 billion annually by 2026, although it will reduce 2025 earnings due to one-time restructuring costs. The cuts come as the company struggles with reduced profits from its obesity drugs Ozempic and Wegovy, facing both competition from Eli Lilly and compounded alternatives.

💰Mega raise: Odyssey Therapeutics has raised $213 million in a Series D funding round, bringing its total fundraising to nearly $700 million since its 2021 launch. The Boston-based biotech, which recently scrapped plans for an IPO, will use the funds to support clinical proof-of-concept studies for its autoimmune and inflammation programs and to expand its preclinical pipeline. CEO Gary Glick emphasized maintaining a strong discovery focus alongside clinical development, aiming for long-term growth beyond previous ventures. Odyssey’s lead candidate, a RIPK2 inhibitor, is in phase 2 trials for ulcerative colitis, with data expected in 2026. The company’s current cash runway extends through mid-2028.

💪 Women’s boost: Melinda French Gates’ organization Pivotal has partnered with nonprofit Wellcome Leap to launch a $100 million initiative aimed at closing major gaps in women’s health research. The effort will fund two new programs beginning in 2026, focusing on areas such as cardiovascular health, autoimmune disease, and mental health. Modeled after DARPA and led by former DARPA director Regina Dugan, Leap aims to accelerate breakthroughs in under-researched conditions affecting women. With a long-term goal of investing $1 billion, the initiative highlights the historic underfunding of women’s health and its broader social and economic implications.

📈Rezatapopt rises: PMV Pharmaceuticals has reported a 43% response rate, including one complete response, in a mid-phase trial of its experimental drug rezatapopt for ovarian cancer patients with TP53 Y220C mutations, prompting plans to file for FDA approval in early 2027. The phase 1/2 trial, focused on patients with various solid tumors, showed a median response duration of 7.6 months in ovarian cancer. PMV will expand enrollment by 20–25 patients before completing the study in early 2026. Positioned as a potential alternative to limited current therapies like Elahere and Enhertu, rezatapopt targets a market estimated at up to $630 million globally.

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