With inter partes reviews (IPR) once feared as patent killers, the mere fact that an IPR petition challenging a drug or device patent had been filed with the U.S. Patent and Trademark Office was enough to send a company’s stock tumbling. That initial fear has “kind of ebbed and flowed” over the past 12 years as the patent reviews established by the America Invents Act have come of age, Aziz Burgy, a partner and patent litigator at Axinn, Veltrop & Harkrider LLP, told BioWorld.
The BioWorld Cancer Index (BCI) finished July down 3.94% for the year, maintaining its downward trend after reaching a high of 11.07% at the end of February and closing in March with a 3.92% gain. In comparison, the BCI underperformed the Nasdaq Biotechnology Index, which climbed 10.82%, and the Dow Jones Industrial Average, which posted an 8.37% increase over the first seven months of the year.
In July, biopharma deal values surged to $20.68 billion, a 61% increase from June's $12.82 billion. The boost pushed the total deal value for the first seven months of 2024 to $119.99 billion, marking the highest amount raised through July in BioWorld‘s records.
Novartis AG CEO Vas Narasimhan during the company’s July 18 second-quarter earnings call said his firm was “still in the midst of completing” the buyout disclosed in February of Morphosys AG, of Munich, for €2.7 billion (then US$2.9 billion), which brought worldwide rights to pelabresib, the small-molecule BET inhibitor for myelofibrosis.
Neuren Pharmaceuticals Ltd.’s NNZ-2591 met the primary endpoints in a phase II trial in children with Angelman syndrome, with improvements seen in clinically important aspects of the disease, including communication, behavior, cognition and motor abilities, Neuren CEO Jon Pilcher said during an Aug. 9 conference call.
In July, med-tech deal values surged to $200.88 million, up 116% from June's $93.07 million and ranking as the second-highest monthly total for 2024, behind only February’s $255.61 million.
RSS
