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  • UCB enters the T-cell engager space with $1.1B deal & Sanofi secures an oral JAK/ROCK inhibitor $1.53B

UCB enters the T-cell engager space with $1.1B deal & Sanofi secures an oral JAK/ROCK inhibitor $1.53B

AuthorAuthor

Joachim Eeckhout & Eduardo Longoria
March 05, 2026

Good morning! The FDA says it wants more rare-disease innovation, Prime Medicine is about to see how far that promise really goes. The biotech plans to file for accelerated approval of its therapy PM359 for chronic granulomatous disease (CGD), arguing its two-patient gene-editing dataset may be enough. The program was deprioritized last year after layoffs and a cash crunch, despite early signals suggesting the gene editing could correct the underlying genetic defect of this ultra-rare disease.

Why it matters: If the FDA accepts, this will mark a major precedent for ultra-rare therapies development and a live test of the agency’s evolving playbook.

Yes, but: The same FDA is also rejecting gene therapies, as we have recently seen with UniQure’s Huntington’s disease candidate.

Bottom line: Two patients may be enough to start a new chapter for Prime, or end this one quickly.

— Joachim E.

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SNAPSHOT

UCB enters hot T-cell engager space with $1.1B deal for Antengene autoimmune candidate.

Belgian drugmaker UCB is paying $80 million upfront to license ATG-201, a preclinical CD19/CD3 bispecific T-cell engager (TCE) from Shanghai-based Antengene, with the deal potentially worth up to $1.1B in milestones and royalties.

Why it matters: The agreement marks UCB’s first move into T-cell engagers, an increasingly important drug modality that could transform treatment for autoimmune diseases by redirecting the body’s own immune cells.

Backstory: T-cell engagers are bispecific antibodies designed to link T cells with disease-causing cells, triggering immune destruction. While widely explored in oncology, several biotech companies are now testing whether the approach can selectively eliminate harmful immune cells involved in autoimmune disorders.

Zoom in: ATG-201 links CD3 (T cells) to CD19 (B cells) to trigger targeted killing. The “masked” design keeps the CD3 arm sterically blocked unless the drug is bound to CD19, aiming to reduce off-target T-cell activation and lower cytokine release syndrome (CRS) risk. Antengene cites preclinical results suggesting CD19-dependent activation with a low CRS signal and activity in autoimmune-relevant models.

Big picture: Immunology is becoming the next battleground for next-gen biologics. Deal flow is shifting from oncology-heavy bispecifics toward autoimmune-focused T-cell redirection, often sourcing assets from Asian biotech and positioning big pharma to lock up platforms early.

What’s next: Antengene plans to initiate Phase 1 trials by the end of the month. After those studies, UCB will assume responsibility for global development and commercialization.

SNIPPETS

What’s happening in biotech today?

🤝 Pharma + China, part 2: Sanofi has signed a global licensing deal worth up to $1.53B with China-based Sino Biopharmaceutical for rovadicitinib, a first-in-class oral JAK/ROCK inhibitor with potential applications in hematology and immunology. The agreement includes a $135M upfront payment to Sino’s subsidiary Chia Tai Tianqing Pharmaceutical, up to $1.395B in development, regulatory, and sales milestones, and tiered royalties on net sales. Recently approved in China for certain forms of myelofibrosis, the drug reduces inflammation and fibrosis by targeting JAK and ROCK pathways and has shown promising clinical results. Sanofi is particularly interested in its potential for chronic graft-versus-host disease, where trials are underway.

🧬 Pompe it up: Bayer has discontinued ACTUS-101, an early-stage gene therapy for late-onset Pompe disease obtained through its $2B acquisition of AskBio in 2020, to concentrate resources on another candidate, AB-1009. ACTUS-101 had reached a phase 1 clinical trial with seven enrolled patients, but Bayer halted enrollment earlier in 2026 and has now formally ended the program. The company is prioritizing AB-1009, which has received FDA fast track and orphan drug designations and recently entered a phase 1/2 trial in the U.S. designed to address the underlying genetic defect by increasing production of the deficient enzyme in Pompe patients. The move comes amid broader development challenges in Pompe disease therapies across the industry.

💰 Cash infusion: Teva has secured $400M in financing from Blackstone Life Sciences to support development of duvakitug, a monoclonal antibody targeting the TL1A cytokine that is being tested for inflammatory bowel diseases such as ulcerative colitis and Crohn’s disease. The funding will be distributed over four years, with Blackstone eligible for regulatory and commercial milestones and low single-digit royalties on global sales. Duvakitug is already partnered with Sanofi, which paid $500M upfront in 2023 for co-development and co-commercialization rights and could pay up to $1B in additional milestones. Sanofi will lead development once the drug reaches Phase 3. The therapy recently showed durable Phase 2b results, maintaining clinical remission in over half of patients after nearly a year of treatment.

 🪓 Program axed: Ono Pharmaceutical’s subsidiary Deciphera Pharmaceuticals has discontinued development of DCC-3084, an early-stage pan-RAF inhibitor being studied for advanced solid tumors driven by the MAPK pathway. The drug had been in an open-label phase 1/2 trial since May 2024, enrolling 29 patients and testing the therapy both as a standalone treatment and in combination with other drugs. Deciphera said the decision was strategic and not related to safety or efficacy concerns, noting that staff working on the program were reassigned rather than laid off. Despite dropping DCC-3084, Deciphera continues to advance other pipeline assets, including BTK inhibitor tirabrutinib and antisense therapy sapablursen, following Ono’s $2.4B acquisition of the company in 2024.

🌊 Layoff wave: Theravance Biopharma will cut about 50% of its workforce, shut down all research and development activities, and discontinue its drug ampreloxetine after the therapy failed a phase 3 trial for symptomatic neurogenic orthostatic hypotension (nOH), a condition involving dangerous drops in blood pressure. The study of 102 patients did not meet its primary endpoint measuring improvement in orthostatic hypotension symptoms after eight weeks, marking the latest setback for the drug following a previous phase 3 failure in 2021. As part of the restructuring, Theravance will instead focus on generating revenue from Yupelri, its approved COPD treatment, while the board evaluates strategic options, including a potential sale.

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