Pharmaceutical Industry Roundup: Gene Therapy Progress, Immunotherapy Approval, and Industry Developments

Ferring's Adstiladrin Shows Promise in First Year

Ferring Pharmaceuticals' bladder cancer therapy Adstiladrin has made a strong debut, earning approximately $77 million in its first full year on the U.S. market. The gene therapy treatment, which is locally delivered to bladder cells, received U.S. approval in late 2022 but wasn't fully available until January 2024. Ferring is actively expanding its manufacturing capacity for Adstiladrin, viewing it as a key driver for future business growth.

Bristol Myers Squibb Secures FDA Approval for Opdivo-Yervoy Combination

Bristol Myers Squibb has received FDA approval for its cancer immunotherapies Opdivo and Yervoy as a first-line combination treatment for certain forms of colorectal cancer. The approval, which came more than two months ahead of schedule, is based on results from the Checkmate-8HW study. In previously untreated patients with microsatellite instability-high or mismatch repair deficient disease, the Opdivo-Yervoy combination reduced the risk of progression or death by 79% compared to chemotherapy. Among all patients, including those whose disease progressed after earlier treatments, the combination reduced the risk by 38%.

Industry Investments and Organizational Changes

Solu Therapeutics, a company launched by Longwood Fund, has raised $41 million in a Series A round. The funds will support ongoing clinical trials for blood cancers and the development of new experimental treatments, including a mast cell depletor for immune conditions. Solu Therapeutics, which debuted in 2023 with a $31 million seed round, has licensed technology and drug candidates from GSK.

In other news, the American Society of Hematology and 95 other organizations have urged Health and Human Services Secretary Robert F. Kennedy Jr. to reinstate the Division of Blood Disorders and Public Health Genomics within the Centers for Disease Control and Prevention. The division, which was affected by recent budget cuts, plays a crucial role in addressing blood disorders through direct collaboration with states and healthcare providers.

Lastly, Nordic Capital has withdrawn its attempt to acquire PureTech Health, a biotechnology incubator known for launching companies like Karuna Therapeutics and Seaport Therapeutics. This decision follows the rejection of Nordic Capital's offer by PureTech's board of directors, marking the second time in recent years that PureTech has seen potential merger talks fall through.