Daily Snap - 14. October 2025

Author

Joachim Eeckhout
October 14, 2025

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Good morning! The Novo Nordisk Foundation wants to prevent the next pandemic. The Danish foundation has pledged up to DKK 200M ($31M) to create the Global Pathogen Analysis Platform, a new AI-powered system designed to detect and track infectious diseases worldwide. Developed in collaboration with DTU, the University of Copenhagen, Statens Serum Institut, and Imperial College London, the platform will integrate genomic data from viruses, bacteria, and parasites with environmental and mobility data to identify emerging threats early and will be freely accessible to scientists and health authorities globally, with special support for low- and middle-income countries. Let’s just hope the AI actually learns to detect pathogens — not to design them.

Enjoy today’s read!

—Joachim E.

PRESENTED BY AXOL BIOSCIENCE

Why are drug developers turning to iPSCs?

Late-stage drug failures are costly and all too common. The solution? Human iPSC models. 

They offer better human relevance than traditional models, scale from individual patients to large populations, and reflect real demographic diversity. This makes them powerful tools for patient stratification, trial design, and de-risking drug development.

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SNIPPETS

What’s happening in biotech today?

💥 Backward data: Tvardi Therapeutics' STAT3 inhibitor TTI-101 failed to demonstrate meaningful efficacy in a phase 2 trial for idiopathic pulmonary fibrosis (IPF), with results showing no significant improvement over placebo and alarmingly high discontinuation rates due to gastrointestinal side effects (56.7% and 62.1% for low and high doses, compared to 10.3% in the placebo group). The trial included 88 patients, many also taking Boehringer Ingelheim’s approved IPF drug Ofev, which was associated with even higher adverse event rates. Lung function declined more in the TTI-101 groups than in the placebo group. Tvardi is now analyzing the data further while shifting focus to its cancer candidate TTI-109.

 🧬 TIGIT triumph: Gilead Sciences and Arcus Biosciences reported encouraging results from a phase 2b trial of their Fc-silent anti-TIGIT antibody domvanalimab, combined with the anti-PD-1 antibody zimberelimab and chemotherapy, in patients with advanced gastric, gastroesophageal junction, or esophageal adenocarcinoma. In cohort A1 of the study, 41 patients showed a median overall survival of 26.7 months, with a 59% overall response rate and a median progression-free survival of 12.9 months. These outcomes were described as clinically meaningful and support ongoing phase 3 trials. Domvanalimab remains one of the few TIGIT therapies in development after other high-profile failures in the field.

🧫 mRNA buzz: Moderna has released early-phase data supporting its decision to advance mRNA-4359, a cancer candidate encoding PD-L1 and IDO antigens, in combination with Merck's Keytruda for patients with relapsed or refractory melanoma. In a phase 1/2 trial involving 29 patients previously treated with checkpoint inhibitors, the combination achieved a 24% objective response rate and a 60% disease control rate. Responses were notably higher among patients with PD-L1-positive tumors, suggesting PD-L1 as a potential predictive biomarker. Moderna sees mRNA-4359's dual mechanism targeting immune escape via PD-L1 and IDO as a way to enhance immune responses, despite past industry setbacks targeting IDO.

 💸 Pay day: SystImmune has initiated the pivotal IZABRIGHT-Breast01 trial, a Phase II/III study evaluating izalontamab brengitecan (iza-bren) in previously untreated triple negative breast cancer patients who are ineligible for PD-(L)1 therapy, triggering a $250 million milestone payment from partner Bristol Myers Squibb. The dual-targeting antibody-drug conjugate, which acts on EGFR and HER3, is being developed under a 2023 agreement that includes an additional $250 million in near-term milestones and up to $7.1 billion in potential development, regulatory, and commercial payments. The partnership significantly strengthens SystImmune’s financial position as it advances iza-bren globally, excluding China.

⚙️ Metabolic move: Chugai Pharmaceutical has secured exclusive development and marketing rights in Japan for CT-388, a long-acting GLP-1/GIP receptor agonist targeting obesity and type 2 diabetes, through a licensing agreement with its majority shareholder, Roche. In exchange, Roche will receive an upfront payment and milestone-based compensation. CT-388, originally acquired by Roche through its $2.7 billion purchase of Carmot Therapeutics in 2023, is part of Roche’s strategic entry into the rapidly expanding metabolic disease market, currently led by Novo Nordisk's semaglutide and Lilly's tirzepatide. CT-388 is projected to generate peak annual sales exceeding $3 billion.

🚰 PIPE dream: ADC Therapeutics has announced a $60 million private placement (PIPE) financing, led by TCGX, with participation from Redmile Group and others. The proceeds will support the commercial expansion of its CD19-directed antibody-drug conjugate ZYNLONTA, strengthen its balance sheet, and fund general operations. The company expects to close the financing by October 27, 2025, and estimates Q3 2025 net product revenue of $15.8 million and cash holdings rising to $292.3 million post-PIPE.

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