Boehringer Ingelheim GmbH terminated its second metabolic dysfunction-associated steatohepatitis (MASH) alliance on March 6, ending an $870 million license agreement inked with Yuhan Corp. for dual GLP-1/FGF21 agonist, BI-3006337 (YH-25724). Yuhan said March 7 that Boehringer, of Ingelheim, Germany, returned rights to YH-25724, a dual-acting glucagon-like peptide-1 and fibroblast growth factor 21 receptor agonist, based on the counterparty’s “strategic judgement” on developing MASH therapeutics. Under the original deal signed in July 2019, Seoul, South Korea-based Yuhan was eligible to receive $40 million in up-front and near-term payments and up to $830 million in potential milestone payments, plus tiered royalties on future net sales. Prior to axing Yuhan’s deal, Boehringer in December 2019 terminated an AU$600 million (US$411 million) deal with Sydney-based Pharmaxis Ltd., quitting co-development of Pharmaxis’ BI-146733 for the MASH indication.

Biopharma financings start off slower in 2025, yet outpace 2022-2023

Biopharma companies raised $2.98 billion through 59 transactions in February 2025, down from $5.91 billion across 93 deals in January. The year is off to a slower start compared to 2023, with the $9.14 billion raised in the first two months marking a 73% drop from $33.29 billion during the same period last year. However, this year's total is higher than the $7.66 billion raised in the first two months of 2023 and the $7.48 billion in 2022.

Wnt efforts condensing at Dewpoint, Surrozen, more

The disclosure of a new candidate by Dewpoint Therapeutics Inc. was the latest in the percolating beta-catenin/Wnt space, where a handful of firms have been making progress. Boston-based Dewpoint nominated a second development candidate called DPTX-3496, an oral, small-molecule condensate modulator targeting beta catenin in Wnt-driven colorectal cancer, triple-negative breast cancer and non-small-cell lung cancer. Enabling studies have started for the compound, Dewpoint said, with an IND filing planned for the second half of 2025. DPTX-3496 showed robust tumor regression and stasis in animal models, the company noted. The pathway also was the subject of a recent paper in Nature.

Intra-Cellular deal, Axsome settlement drive neurological index recovery

The BioWorld Neurological Diseases Index closed 2024 down 20.27%, extending its decline from -13.4% at the end of November. After falling to -12.2% in April, the index briefly rebounded, narrowing losses to under 4% by June, before experiencing a sharp downturn in the second half of the year.

The BioWorld Insider podcast: mega mergers falling short

There have been plenty of multi-billion-dollar mega mergers in the past few years but most have fallen short of their goals. In the latest edition of the BioWorld Insider podcast, Karen Carey, BioWorld’s senior managing editor and chief analyst, unpacked the details in 21 of the biggest M&As and found very few have turned out to be good deals for the buyer. She talked on the podcast about the three-part BioWorld series that she reported and wrote and discusses the few winners and the many losers. The BioWorld Insider is a monthly podcast that covers the industry, including talks with those who are leading the way to new discoveries and how they are getting there.

Also in the news

Arrowhead, ARS, Ascentage, Clearside Biomedical, Cstone, Denali, Encell, Genassist, Hanall, Humacyte, ITM, Laminar, Medicus, Neurotech, Nimbus, Plus, Rapport, Relief, Renexxion, Trestle, Tris, Zyversa