Daily Snap - 15. September 2025

Author

Joachim Eeckhout
September 15, 2025

 

Good morning! Good news for those looking to launch a biotech startup in Saudi Arabia: the Sarat Ventures Y Innovations Biotech Fund has just launched with plans to invest around $50 million in early-stage biotech companies across the Kingdom and the wider MENA region. The fund supports Saudi Arabia’s Vision 2030, which aims to diversify the country’s economy beyond oil. While the fund’s size is modest compared to counterparts in the U.S. or Europe, it marks a meaningful step forward and will likely be welcomed by local founders seeking support.

Enjoy today’s read!

—Joachim E.

SNIPPETS

What’s happening in biotech today?

🧊England on ice: Eli Lilly has paused plans to establish its first European Gateway Labs biotech incubator in the U.K., citing uncertainties in the country’s life sciences sector and low government investment in new drug development. The initiative, part of a £279 million ($378 million) agreement with the U.K. government to tackle major health issues like obesity, is on hold due to concerns over the low prices paid by the National Health Service. This move follows Lilly’s recent suspension of Mounjaro shipments to the U.K. and comes amid broader industry setbacks, including Merck’s withdrawal of its R&D operations from the country.

✂️ Cut out of Cambridge: As if Lilly’s exit from the U.K. wasn’t enough, AstraZeneca has paused a planned £200 million ($271 million) expansion of its research facility in Cambridge, England. This follows earlier decisions by Merck and Eli Lilly to cancel or delay significant R&D projects, citing inadequate government support and undervaluation of innovation. AstraZeneca had previously canceled a $610 million vaccine investment in Liverpool for similar reasons. A recent report by the Association of the British Pharmaceutical Industry warns that the U.K. is falling behind globally and urges swift government action. Meanwhile, BioNTech remains committed to its U.K. plans with $1.3 billion investment planned over the next decade.

👁️Eye relief: Ashvattha Therapeutics has announced positive topline results from its 40-week Phase 2 trial of migaldendranib (MGB), a first-in-class subcutaneous nanomedicine for diabetic macular edema (DME) and neovascular age-related macular degeneration (nAMD). The study demonstrated that MGB is safe and well-tolerated, with no treatment-related serious adverse events. Patients receiving MGB saw significant reductions in the need for supplemental intravitreal anti-VEGF injections, up to 89% in fellow eyes, and experienced improvements in visual acuity and retinal thickness. MGB’s novel mechanism, which normalizes VEGF expression in inflamed retinal cells, may enable convenient, at-home monthly treatment and reduce the burden of in-office eye injections.

💰Condensate cash: Dewpoint Therapeutics has closed its Series D financing to advance DPTX3186, a first-in-class condensate modulator (c-mod), into clinical trials for gastric cancer by the end of 2025, with early proof-of-concept expected by late 2026. The funding will also support development of a c-mod targeting the historically undruggable MYC protein and bolster partnerships with Bayer, Novo Nordisk, and Mitsubishi Tanabe Pharma. DPTX3186, an orally delivered small molecule, works by selectively disrupting Wnt signaling through β-catenin modulation, aiming to overcome safety concerns tied to previous Wnt-targeted therapies. The financing secures Dewpoint’s operational runway into early 2027.

🦋Thyroid triumph: At the 2025 American Thyroid Association Annual Meeting, FORE Biotherapeutics presented data from a completed Phase 1/2a trial showing that plixorafenib, a novel BRAF inhibitor, demonstrated durable clinical benefit in patients with BRAF-altered thyroid cancers, particularly in MAPK-inhibitor-naïve papillary thyroid cancer (PTC) patients, where a median progression-free survival of 63.9 months and a clinical benefit rate of 85.7% were observed. The treatment also showed promising results in anaplastic thyroid cancer (ATC) and BRAF fusion-positive tumors, with a favorable safety profile and long durations of response. These findings support the ongoing global Phase 2 FORTE study targeting BRAF-altered tumors.

🦸‍♂️Retina rescue: Nacuity Pharmaceuticals announced positive results from its SLO-RP Phase 1/2 clinical trial evaluating NPI-001, an oral treatment for retinitis pigmentosa (RP) associated with Usher syndrome (USH). Over two years, NPI-001 demonstrated a greater than 50% reduction in photoreceptor loss compared to placebo and was well tolerated with no persistent drug-related adverse events. While improvements in retinal sensitivity did not reach statistical significance, a favorable trend was observed. The findings support NPI-001 as a potential gene-agnostic therapy and have informed the design of a confirmatory trial planned for 2026. NPI-001 holds both Fast Track and Orphan Drug Designations.

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