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The week that was

Other deals of the week

Pipeline picks

Quote of the week

💸 Protibea Therapeutics eyes $11.7M for neuroinflammation 

The company intends to fund its first clinical trial. 

😮‍💨 Biotech investors get clarity on EU pharma tariffs

The U.S. and the EU announced a maximum 15% pharma tariff.

👣 Pharma firms walk tightrope on Trump price push

President Trump's demands for drug price cuts are forcing pharmaceutical companies to walk a fine line as they look to mollify the president without taking a major financial hit.

📈 Catalio plans more biotech bets after Ospri deal

The deal is part of Catalio's broader structured credit strategy it launched in 2021.

🔬 Exclusive: Convoke raises $8.6M seed for AI biopharma tool

It joins a growing group of AI startups betting on pharma's need to cut drug development timelines and costs.

Protibea Therapeutics eyes $11.7M for neuroinflammation

Biotech investors get clarity on EU pharma tariffs

Pharma firms walk tightrope on Trump price push

Catalio plans more biotech bets after Ospri deal

Exclusive: Convoke raises $8.6M seed for AI biopharma tool

1 big thing: The week that was

Illustration of a price tag shaped and colored like a prescription pill bottle

Anocca, a Swedish immunotherapy startup focused on pancreatic cancer, raised around $46m. Mellby Gård led, joined by AMF and Ramsbury. Go deeper

Sensorium Therapeutics, a Boston-based developer of psychoactive medicines, raised $25m in Series A funding from Mission BioCapital, Hatteras Venture Partners, Mockingbird Capital Partners, and Dolby Family Ventures. Go deeper

Merck KGaA agreed to pay up to $2 billion to Waltham, Mass.-based Skyhawk Therapeutics in a deal to develop small molecules for neurological disorders. Go deeper

Findos Investor agreed to acquire Denmark-based vaccinations provider European LifeCare Group from Inflexion. Go deeper

Kite, a Santa Monica-based subsidiary of Gilead, will pay $350m to acquire Interius BioTherapeutics, a Philadelphia-based in vivo CAR therapeutics developer. Go deeper

Stada, a German pharma company owned by Bain Capital and Cinven, is restarting IPO plans as talks to be acquired by CapVest have stalled, per Bloomberg. Go deeper

Aurobindo Pharma of India is the lead bidder for Zentiva, a Czech generic drugmaker being sold by Advent International, per the Economic Times. A deal could fetch around $5.5b. Go deeper

Custom Health, a West Hollywood, Calif.-based medication management company acquired PatchRx, a Tulsa, Okla.-based maker of smart pill bottle caps that had raised $12m from firms like Atento Capital, Cortado Ventures, Forum Ventures, Plains Ventures, and Vast Ventures. Go deeper

Quadria Capital is in talks to sell a minority stake in Indian topical pharma company Encube Ethicals at a $2b valuation, per Bloomberg. Go deeper

2. Other deals of the week

😡 Federal health workers' rage against RFK Jr. boils over (Axios)

💊 How the moms and dads of patients won Sarepta's drug a reprieve (Bloomberg)

🏷️ Trump may push hard for lower drug prices using a tool created by Democrats (STAT)

3. Pipeline picks

"There hasn't been a significant new biotech IPO price in over six months at this point."


4. Quote of the week

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August 23, 2025

1 big thing: The week that was