Daily Snap - 18. September 2025

Author

Joachim Eeckhout
September 18, 2025

 

Good morning! The University of Chicago has opened Hyde Park Labs, a 300,000-square-foot (almost 28,000 m2 ) hub designed to accelerate biotech and deep tech innovation in the city. Its centerpiece is the UChicago Science Incubator, offering startups lab space, mentorship, and access to the $25 million Harper Court Ventures Fund. Already home to 13 startups, the facility will also host UChicago research labs in cancer, synthetic biology, and advanced materials. If biotech is to thrive, we need more places like this, where big ideas get a lab bench, a check, and maybe even a coffee machine that works.

Enjoy today’s read!

—Joachim E.

SNIPPETS

What’s happening in biotech today?

✂️Jersey cuts: Novo Nordisk and Bristol Myers Squibb are laying off a combined 545 employees at their New Jersey headquarters as part of broader restructuring and cost-cutting initiatives. Novo Nordisk is cutting 263 positions in Plainsboro following its global plan to eliminate 9,000 jobs and save $1.3 billion annually by 2026, driven by slowed sales growth and increased competition in the obesity drug market. BMS is eliminating 282 roles in Lawrenceville, extending a cost-saving program aimed at reducing expenses by $3.5 billion by 2027. These layoffs follow earlier job reductions by both companies and reflect ongoing industry-wide efforts to boost efficiency.

🏀Dermatomyositis dunk: Roivant and its subsidiary Priovant announced that their drug brepocitinib, licensed from Pfizer, achieved positive results in a Phase 3 trial for dermatomyositis, a rare inflammatory disease affecting around 34,000 people in the U.S. The study showed that a 30 mg daily dose significantly reduced symptoms and steroid dependence compared to placebo over a 52-week period. Brepocitinib targets TYK2 and JAK1 proteins, similar to other approved autoimmune treatments, but with no observed cardiovascular events in this trial. Based on these results, Roivant plans to seek FDA approval in early 2026, marking the first positive registrational trial for a targeted dermatomyositis therapy.

🧪Trial expansion: Nxera Pharma and Cancer Research UK have initiated a phase 2a clinical trial of HTL0039732, an oral EP4 antagonist aimed at treating advanced solid tumors in combination with immunotherapy. Following a successful phase 1 study that confirmed the drug's safety, tolerability, and selective EP4 target engagement, the new trial will assess its efficacy across four cancer types: microsatellite stable colorectal cancer, gastric or gastroesophageal junction adenocarcinoma, clear cell renal cell carcinoma, and metastatic castration-resistant prostate cancer.

🧊FOP win: Regeneron Pharmaceuticals announced that its monoclonal antibody garetosmab met the primary endpoint in the Phase III OPTIMA trial for fibrodysplasia ossificans progressiva (FOP), significantly reducing new heterotopic ossification lesions compared to placebo. In the 56-week trial involving 63 adults, patients receiving low and high doses of garetosmab saw 94% and 90% reductions in new lesions, respectively. High-dose recipients also experienced significantly fewer flare-ups, a key secondary endpoint. The treatment showed a tolerable safety profile with no discontinuations. Based on these results, Regeneron plans to file for FDA approval by year-end and pursue global submissions and pediatric trials in 2026.

💰Series A+: Enhanced Genomics Ltd has extended its Series A funding to US$19 million, with backing from BGF, Parkwalk, and Meltwind, to advance its 3D multi-omics platform that identifies disease-associated genetic variants in human cells. Spun out from the Babraham Institute, in the U.K., the company aims to translate non-coding genetic data into drug targets, initially focusing on autoimmune diseases like inflammatory bowel disease. Its genome-wide, hypothesis-free approach is designed to improve causal target identification, setting it apart from competitors using machine learning, chromatin mapping, or spatial genomics. The funding will support pipeline expansion and industry partnerships in the competitive therapeutics discovery market.

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