Daily Snap - 14. November 2025

Author

Joachim Eeckhout
November 14, 2025

 

Good morning! Germany just detected the wild poliovirus in wastewater — the first such finding in Europe since 2010, and more than three decades after the country’s last human case. Before you panic-scroll: no infections have been reported, and Germany’s high vaccination coverage means the public is well protected. In fact, the WHO says the detection shows that Germany’s surveillance system is working exactly as it should by catching traces of the virus before it can spread. It’s a sobering reminder that as long as polio exists anywhere, it’s everyone’s problem and the best defense remains the same one that nearly wiped it out: vaccination.

Enjoy today’s read!

—Joachim E.

SNIPPETS

What’s happening in biotech today?

🎭 Masked deal: Third Arc Bio has entered a licensing agreement with Adagene to develop two masked T-cell engagers using Adagene’s Safebody technology, paying $5 million upfront with the potential for up to $840 million in development and commercial milestone payments, plus royalties. Safebody is designed to activate T-cell engagers specifically within the tumor microenvironment, aiming to improve safety and therapeutic index. Third Arc gains global rights to develop and commercialize the therapies, while Adagene retains rights in parts of Asia. This deal follows Adagene’s earlier partnership with Sanofi, which recently expanded its investment and collaboration around similar masking technologies.

🍔 Obesity overload: Zealand Pharma has paused development of its dual GLP-1/GLP-2 agonist, dapiglutide, following a portfolio review that highlighted the increasingly crowded obesity treatment market and the high bar for clinical differentiation. Despite showing an average 11.6% weight loss in a phase 1b trial, the asset fell short of analyst expectations and would require long, complex, and costly trials to stand out. The company will instead prioritize other metabolic candidates, including petrelintide and survodutide, in partnership with Roche and Boehringer Ingelheim, respectively. Zealand also maintains a broader early-stage pipeline targeting obesity and inflammation to support its long-term metabolic health strategy.

🔁 RNA reroute: Korro Bio is restructuring after its lead RNA editing therapy, KRRO-110, for alpha-1 antitrypsin deficiency (AATD) failed to deliver expected results in early testing, prompting the company to halt development, lay off 34% of its workforce, and shift its strategy. While the therapy increased functional protein production, levels fell short of preclinical predictions, with the drug’s delivery method identified as a potential issue. Korro will now pursue a new candidate using a different delivery system and aims to select it in early 2026. The company also paused its research collaboration with Novo Nordisk and saw its CMO resign, as it seeks to extend its cash runway into late 2027.

💸 $65M boost: Gate Bioscience has announced the completion of a $65 million oversubscribed Series B financing round to advance its proprietary oral molecular gate medicines into clinical development. The funding round was led by new investor Omega Funds, with participation from existing backers such as Versant Ventures, New Enterprise Associates, and OrbiMed. The company’s molecular gate platform is designed to modulate disease-causing proteins by selectively destabilizing them, offering a novel therapeutic approach. Gate plans to use the proceeds to progress its lead programs into clinical trials, expand its drug discovery pipeline, and further develop its proprietary platform targeting previously undruggable proteins.

⚙️ Vaccine power: Virometix has secured $15 million in financing from existing investors to advance its lead vaccine candidate, V-212, and further develop its synthetic vaccine platform. V-212, a fully synthetic, serotype-independent pneumococcal vaccine, is currently in a Phase I clinical trial, with topline safety and immunogenicity results expected in Q1 2026. The funding will support a planned Phase Ib combination trial, validation of immunogenicity assays, and enhancements to the company’s Synthetic Virus-Like Particle (SVLP) technology. Virometix aims to progress additional next-generation pneumococcal vaccine programs into preclinical development, leveraging its SVLP platform for broad-spectrum, scalable vaccine solutions.

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