Upfront Briefing
GSK agreed to acquire RAPT Therapeutics for $2.2B, adding an anti-IgE food allergy program and underscoring renewed urgency to stock up the RII pipeline.
AstraZeneca agreed up to $630M (upfront + milestones) to lock up the remaining rights to an armored CAR-T from AbelZeta — a pretty clear “we’re in” signal for the program.
And in vaccines, Valneva withdrew its US regulatory filings for chikungunya vaccine IXCHIQ following FDA actions, a timeline reset that tends to make revenue models sweat.
And, in case you missed yesterday’s edition due to the holiday:
it can be found here.
Tape Action
| Instrument |
Last close |
1D % |
YTD % |
| S&P 500 |
6,939.5 |
(0.1%) |
+1.4% |
| Nasdaq 100 |
25,527.3 |
(0.1%) |
+1.1% |
| Russell 2000 |
2,677.9 |
+0.1% |
+7.9% |
| XBI (Biotech) |
124.2 |
(0.1%) |
+1.8% |
| Nasdaq Biotech |
5,758.8 |
0.0% |
+0.9% |
| Clinical Trials ETF (BBC) |
40.6 |
+0.5% |
+5.2% |
|
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Biotech was softer than small caps: XBI slipped while Russell 2000 eked out a gain.
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Standout mover: BBC led the tape on the upside on the day.
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Market data: U.S. close Fri 16 Jan 2026 (U.S. markets closed Mon for MLK Day).
The Big 3
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1
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GSK agrees to acquire RAPT Therapeutics for $2.2B
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GSK will pay $58/share (≈$2.2B equity value) to buy RAPT, adding ozureprubart, an anti-IgE program in development for prophylactic protection against food allergens.
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Why it matters:
This is a clean “pipeline restock” in RII: a validated allergy mechanism (anti-IgE) with a clear commercial wedge, but it’s also a long-dated bet (key inflection comes with clinical readouts rather than near-term revenue). The $58/share price sets a fresh comp for mid-cap immunology M&A and could pull forward interest in adjacent allergy assets.
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Source:
GSK PR
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More:
Reuters
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2
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AstraZeneca signs $630M pact for CAR-T rights from AbelZeta
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AstraZeneca agreed up to $630M (upfront + milestones) to acquire the remaining rights (China) to an armored CAR-T from AbelZeta, consolidating control over development and economics.
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Why it matters:
“Buying back” rights is a conviction signal: AZ is paying to own the China upside and remove partner friction around strategy, timelines, and margin. For investors, it raises the bar on differentiation (armoring has to show up in durability/response/expansion), and it’s a useful pricing marker for cell-therapy IP with real strategic pull.
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Source:
Fierce Biotech
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3
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Valneva withdraws US filings for chikungunya vaccine IXCHIQ
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Valneva has withdrawn its US regulatory filings for the chikungunya vaccine IXCHIQ following FDA actions, resetting the near-term US approval timeline.
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Why it matters:
A filing withdrawal after FDA actions typically translates to “timeline + uncertainty” — pushing out the US launch, increasing risk discounts, and making guidance more sensitive to any follow-on safety/regulatory requirements. For commercial-stage vaccine stories, regulatory credibility is an asset; setbacks often ripple into partnering leverage and financing assumptions.
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Source:
PR
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Everything Else that broke
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In case you missed it: AbbVie/Genmab’s bispecific missed OS in Phase 3 lymphoma, adding friction to the long-term positioning story. — BioSpace
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Shionogi boosts its ViiV stake as Pfizer exits; GSK remains majority owner and receives a $250M special dividend. — Reuters
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Alteogen signs BD deal with GSK’s Tesaro for subcutaneous dostarlimab using ALT-B4 (Hybrozyme): $20M upfront + up to $265M milestones + royalties. — PR
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Novo Nordisk oral Wegovy reaches over 3,000 patients in first week of launch. — BioSpace
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BioticsAI says it received FDA clearance for an AI-powered fetal ultrasound product. — TechCrunch
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Nxera reports positive Phase 3 results for daridorexant in South Korea (insomnia). — BioSpace
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Virbac reports 2025 annual revenue up +7.9%. — PR
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Takeda cuts US headcount, impacting neuro commercial teams. — BioSpace
Deal Flow
M&A / BD&L
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GSK agrees to acquire RAPT Therapeutics for $2.2B. — GSK PR
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AstraZeneca signs $630M pact for remaining rights to armored CAR-T from AbelZeta. — Fierce Biotech
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Alteogen signs BD deal with GSK’s Tesaro for subcutaneous dostarlimab using ALT-B4 (Hybrozyme): $20M upfront + up to $265M milestones + royalties. —
PR
VC / Private Financings
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Exciva raises €51M ($59M) Series B to fund Phase 2 Alzheimer’s agitation drug; co-led by EQT Life Sciences and Gimv, with participation from Fountain Healthcare Partners, LifeArc Ventures, Carma Fund, Modi Ventures, and existing investors Andera Partners and LBBW. — Endpoints
IPOs / Follow-Ons
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In case you missed it: AgomAb Therapeutics and SpyGlass Pharma file for Nasdaq IPOs, another signal the window is cracking open. — Fierce Biotech
Academic Corner
- Fresh from the biotech pipeline: FDA turmoil overshadows 2025 approvals. — Nature Biotech
- Engineered living glues secrete therapeutic proteins for treatment of inflammatory bowel disease. — Nature Biotech
- Placebo effect influences vaccine responses. — Nature Medicine
- An LLM chatbot to facilitate primary-to-specialist care transitions: a randomized controlled trial. — Nature Medicine
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