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Backed by GV and Arch Venture Partners, Pelage Pharmaceuticals is advancing a first-of-its-kind topical gel designed to activate dormant hair follicle stem cells.
A gene therapy from Regeneron, a pancreatic cancer medicine from Revolution Medicines and a porphyria drug from Disc Medicine were among the first beneficiaries of a pilot program initiated in June.
Study results published in The New England Journal of Medicine show the therapy significantly improved hearing in nearly a dozen children with a rare, genetic form of deafness.
Among the largest private biotech funding rounds this year, the financing will support global trials of an obesity shot that just succeeded in late-stage testing in China.
Some Wall Street analysts have questioned orforglipron’s sales outlook in obesity, but see great potential in diabetes, where on Wednesday it succeeded in two more late-stage trials.
