Company News - April 2026

Seaport Therapeutics

has reported positive Phase 1 proof-of-concept data for GlyphAgo, its Glyphed oral prodrug of agomelatine & the results suggest a potentially meaningful step forward in addressing some of the long-standing limitations of this mechanism in generalized anxiety disorder (GAD). (02/04/2026)

◼️ Key highlights

• 6.8x increase in bioavailability versus unmodified agomelatine, significantly exceeding the 2x program target • ~10x reduction in pharmacokinetic variability, supporting more consistent exposure across patients • Therapeutic levels achieved at substantially lower doses, with reduced projected liver exposure • Well tolerated across all doses, with no serious, severe or liver-related adverse events reported

◼️ Why this is notable

Agomelatine is a clinically validated molecule with demonstrated efficacy in GAD and MDD in multiple markets, but its broader adoption has been constrained by first-pass liver metabolism, dose-dependent liver enzyme elevations & the requirement for ongoing liver function monitoring.

GlyphAgo appears to address these limitations through lymphatic absorption, potentially enabling more predictable exposure while reducing the burden associated with liver safety monitoring, which has historically limited clinical and commercial uptake.

◼️ Strategic context

The data also provide early clinical validation for Seaport’s Glyph platform, which is designed to improve the pharmacokinetic profile of established compounds rather than relying solely on novel target discovery, a strategy that could have broader applicability across neuropsychiatry and beyond.

In parallel, GAD remains an area with significant unmet need in the U.S., where treatment innovation has been relatively limited over recent decades despite high prevalence and ongoing challenges with tolerability and adherence.

◼️ What comes next

Seaport plans to advance GlyphAgo into: • A Phase 2a proof-of-pharmacology study evaluating sleep benefit in GAD • A Phase 2b randomized, placebo-controlled trial designed to be registration-enabling

◼️ Bottom line

These are early but encouraging data that suggest GlyphAgo may offer a differentiated way to unlock a clinically validated mechanism while potentially improving safety, tolerability and consistency of exposure.

Another example of thoughtful clinical and platform innovation emerging from the Boston biotech ecosystem, with clear focus on translating known biology into more usable therapies.

Eli Lilly secures FDA approval for once-daily oral GLP1 obesity therapy (01/04/2026)

◼️ Key highlights

FDA approves Foundayo™ (orforglipron), Lilly’s oral GLP-1 for obesity

No food or water restrictions - differentiating from existing oral GLP-1 options

Patients lost ~27 lbs (12.4%) at highest dose in ATTAIN-1

Improvements across key cardiometabolic markers

Pricing from $25/month (insured) to $149 self-pay via LillyDirect

◼️ Why it matters

This is a meaningful evolution in the GLP-1 category - not the first oral but potentially the most convenient.

Novo Nordisk opened the door with oral semaglutide.

But dosing constraints have limited real-world flexibility.

A simpler, once-daily pill with fewer restrictions could:

Improve adherence

Expand patient eligibility

Reduce friction in primary care prescribing

◼️ Pipeline momentum

Lilly continues to strengthen its position in metabolic disease:

Complementing its injectable portfolio with an oral option

Scaling direct-to-patient access via LillyDirect

Preparing for broader reimbursement tailwinds (e.g. Medicare Part D in 2026)

This is about category expansion not just competition.

◼️ Bottom line

Oral GLP-1s are entering their next phase.

If convenience + efficacy translate in the real world, this could unlock a much larger patient population and intensify the competition between Lilly and Novo.

Ambrosia Biosciences announces a $100M oversubscribed Series B financing (31/03/2026)

A strong signal of continued investor conviction in next-generation cardiometabolic innovation.

The round was supported by a high-quality syndicate, including Blue Owl Capital, Deep Track Capital, Redmile Group, Janus Henderson Group PLC Investors, Samsara BioCapital, Boulder Ventures & BVF PARTNERS, L.P Partners.

◼️ What this enables:

• Advancement of an oral small molecule GLP-1 into Phase 1 • Progression of additional programs targeting GIP & amylin • Continued build-out of a differentiated GPCR-focused pipeline

As the field evolves beyond first-generation therapies, the focus is shifting toward:

• Oral modalities • Improved tolerability & flexibility • Combination-ready approaches

Ambrosia is positioning itself at the centre of that transition leveraging structural biology & computational chemistry to design next-generation small molecules for obesity & cardiometabolic disease.

A notable milestone for the company & a broader indicator of where innovation in this space is heading.

Eli Lilly and Company moves on Centessa Pharmaceuticals in $6.3B strategic neuroscience expansion (31/03/2026)

◼️ Headline

Lilly is strengthening its neuroscience portfolio with a structured $6.3B acquisition of Centessa, plus up to $1.5B in milestone payments.

◼️ Key highlights

• $38/share upfront (~48% premium) • Up to $9/share in regulatory milestones • Lead asset: cleminorexton (OX2R agonist) • Targeting NT1, NT2 & idiopathic hypersomnia • Expected close in Q3 (subject to approvals)

◼️ Why it matters

This is about strategic positioning in a validated, high-value mechanism. Orexin biology is increasingly recognised as a core control point of the sleep-wake cycle, with multiple programmes advancing across the industry.

Lilly is moving to secure scale, depth & optionality in this space early.

◼️ Pipeline context

Cleminorexton has shown encouraging mid-stage data but competition is active: • Takeda already under FDA review • Alkermes entering Phase 3 • Eisai progressing Phase 2

This places Lilly in a competitive but maturing landscape where differentiation will matter.

◼️ Strategic lens

• Platform acquisition, not single-asset focus • Milestone-heavy structure aligning value with approvals • Expands Lilly’s CNS footprint with mechanism-led precision • Positions Lilly across multiple sleep-wake indications

◼️ Bottom line

Lilly is executing a targeted expansion in neuroscience, building toward leadership in orexin-based therapies through scale, pipeline depth & disciplined deal structure.

Insilico Medicine × Eli Lilly and Company: AI-driven drug discovery deal worth up to $2.75B (31/03/2026)

◼️ Key highlights

Insilico secures $115M upfront from Lilly

Total deal value of ~$2.75B + tiered royalties

Lilly gains exclusive worldwide rights to select preclinical assets

Collaboration spans multiple therapeutic areas

Combines Insilico’s Pharma.AI platform with Lilly’s clinical & development expertise

◼️ Why it matters

This is another clear signal that AI-native biotech is moving from promise to commercial reality.

Big Pharma is no longer experimenting it is buying into platforms that can scale discovery across multiple disease areas.

The structure also reflects confidence:

Upfront capital + long-tail milestones

Exclusive rights to downstream value

Focus on oral, scalable therapeutics

◼️ Pipeline momentum

Insilico continues to position itself as a full-stack AI drug discovery engine - from target identification to candidate generation.

By partnering with Lilly:

It gains validation from a top-tier pharma player

It expands into multi-program, multi-indication discovery

It reinforces the shift toward platform-based biotech models

For Lilly, this unlocks:

Faster access to novel targets & mechanisms

Reduced early discovery risk

Increased pipeline optionality across therapeutic areas

◼️ Bottom line

AI is no longer a side capability in drug discovery it is becoming core infrastructure.

Deals like this show that the winners will be those who can:

Integrate AI across the full R&D lifecycle

Partner effectively with Big Pharma

Deliver repeatable, scalable innovation

Otsuka Pharmaceuticals strengthens its neuroscience pipeline with a potential $1.2B acquisition of Transcend Therapeutics. (29/03/2026)

A strategic move that reinforces pharma’s growing focus on next-generation psychiatric treatments.

◼️ Key highlights: • $700M upfront, with up to $525M in milestone payments • Brings TSND-201 (methylone) into Otsuka’s pipeline – a Phase 3-ready PTSD asset • FDA Breakthrough Therapy designation already secured • Non-hallucinogenic neuroplastogen targeting rapid and durable neural plasticity

◼️ Why this matters: PTSD affects ~13 million people annually in the US alone, yet no new approved treatments have emerged in over two decades. Current options remain limited to psychotherapy and antidepressants, leaving a significant unmet need.

◼️ What stands out: TSND-201 represents a differentiated approach. Unlike traditional psychedelics, it enhances neuroplasticity without activating the 5-HT2A receptor, meaning no hallucinogenic effects. That could be critical for scalability, accessibility & regulatory adoption.

◼️ Strategic context: Otsuka continues to double down on CNS innovation. Following its acquisition of Mindset Pharma, this deal further signals a clear intent: build a leadership position in next-generation psychiatric therapies, particularly those leveraging neuroplasticity.

◼️ Bottom line: This isn’t just another biotech acquisition. It’s a signal that neuroplastogens and novel psychiatric mechanisms are moving firmly into the pharma mainstream.

AstraZeneca signals strategic momentum in COPD with positive Phase III data for tozorakimab. (27/03/2026)

This is the first of 20+ major readouts expected in 2026 - all underpinning a clear ambition: $80B in annual revenue by 2030!

◼️ What stands out: • Primary endpoints met across two Phase III trials (OBERON & TITANIA) • Reduction in moderate-to-severe exacerbations • Efficacy observed across smoking status & eosinophil levels • First IL-33-targeting biologic to show consistent Phase III benefit

◼️ Why this matters: COPD remains one of the largest most underserved chronic diseases globally. Despite existing therapies, many patients continue to decline.

Tozorakimab reflects a shift upstream: • Targeting IL-33 at the point of airway damage • Addressing both inflammation & mucus dysfunction • Expanding beyond narrow biomarker-defined populations

AstraZeneca continues to demonstrate: • Depth in late-stage pipeline delivery • Confidence in novel biology translating at scale • A disciplined path toward long-term revenue expansion

◼️ Bottom line: An important validation of both mechanism and strategy with broader implications for how COPD may be treated in the future.

Gene therapy just crossed another commercial & regulatory inflection point (27/03/2026)

Rocket Pharmaceuticals has secured FDA accelerated approval for KRESLADI™ - the first gene therapy for severe LAD-I.

This isn’t just a scientific milestone.

It’s a signal the model is starting to work.

◼️ Why this matters: Severe LAD-I is ultra-rare, rapidly fatal in early childhood & historically dependent on donor availability.

KRESLADI changes that equation. • Autologous approach - removing donor dependency • Targets the root genetic defect not just symptoms • Opens access to patients previously left without viable options

◼️ But zoom out… This approval reinforces three bigger shifts in biotech:

Gene therapy is becoming approvable at scale

Regulators are increasingly comfortable with biomarker-driven, accelerated pathways in rare disease

Ultra-rare is now commercially viable

With PRVs & focused development strategies, even very small populations can support investment

Post-approval is the new proving ground

Durability, registry data & real-world outcomes will define long-term success

◼️ Bottom line: This isn’t just progress for LAD-I patients.

It’s another clear step toward a world where genetic diseases are treated at the source & where the business model to support that is finally taking shape.

A $2B acquisition for a Phase 1 allergy asset is not something you see every day. (27/03/2026)

And it tells you far more about where the market is heading than where it stands today.

Novartis’ planned acquisition of Excellergy is a clear signal of how large pharma is increasingly allocating capital towards differentiated biology, particularly in immunology where future innovation will be driven by mechanism rather than iteration.

At the centre of this deal is EXL-111, a trifunctional ECRI targeting the IgE axis, designed to intervene earlier in the allergic cascade and potentially deliver a deeper and more sustained suppression of IgE signalling than existing approaches.

While still in Phase 1, the rationale here appears grounded less in clinical maturity and more in the strength of the underlying biology combined with how closely it aligns to Novartis’ established expertise in the space.

There is also a clear strategic fit building on a foundation the company already understands well, while introducing a next-generation approach that could expand both depth and scope within its immunology portfolio.

More broadly this reflects a continued shift in how value is being created with increasing focus on platforms capable of reshaping disease pathways rather than incrementally improving outcomes.

That direction has been building for some time but the level of capital being committed at this stage suggests growing confidence in where the next wave of innovation will emerge.

Pinnacle Medicines secures $89M Series B to advance oral peptide pipeline (26/03/2026)

◼️ Key highlights • $89M Series B brings total funding to $134M • Backed by OrbiMed, RA Capital, Foresite Capital, Logos & others • Headquartered across China & Pennsylvania, U.S. • Focus on oral peptide therapies in immunology & cardiometabolic disease • AI + physics-based platform driving drug design

◼️ Why it matters Oral delivery of peptide drugs is quickly becoming one of the most important shifts in modern therapeutics.

Replacing injections particularly in areas like GLP-1s has major implications for patient adoption, compliance & long-term market growth.

◼️ Pipeline momentum Pinnacle is building from a strong foundation: • Leadership with deep peptide discovery experience (J&J, Merck, Amylin) • Differentiated platform combining AI with simulation-based design • Early pipeline progressing toward clinical validation • Capital runway to reach key inflection points

◼️ Competitive context Momentum in oral peptides continues to accelerate: • Novo Nordisk expanding oral GLP-1 portfolio • Merck investing in delivery technologies • Protagonist advancing oral obesity assets • Increasing crossover between platform innovation & big pharma demand

◼️ Bottom line Pinnacle is still early but well-backed and strategically positioned.

The next phase translating platform strength into clinical data will determine whether it can stand out in an increasingly crowded oral peptide race.

BrightGene Health just put a marker down in the oral obesity race. (25/03/2026)

Early-stage, yes.

But worth paying attention to.

Their dual GLP-1/GIP agonist (BGM0504) delivered: • Up to 5.6% weight loss in 4 weeks (China study) • Up to 8.2% weight loss in 5–8 weeks (U.S. study)

That’s Phase 1 data and still preliminary but 8% in 8 weeks for an oral therapy is a signal the market won’t ignore.

◼️ Context matters. We’re now seeing a wave of oral GLP-1s emerge: • Novo Nordisk’s oral Wegovy → ~16.6% at 64 weeks • Lilly’s orforglipron → ~12.4% at 72 weeks

So the benchmark is becoming clear: 👉 Double-digit weight loss, oral convenience & tolerability. On tolerability, BrightGene reports mostly mild and transient GI events, encouraging but still too early to draw firm conclusions.

◼️ What makes this more interesting: • It’s a dual GLP-1/GIP approach • Subcutaneous version already showing strong glucose data • Head-to-head vs Zepbound underway

So this isn’t a single-asset story - it’s a broader strategic play.

◼️ Why it matters The obesity market is shifting fast towards: • Oral formulations • Earlier intervention • Increasing global competition (beyond Novo & Lilly)

BrightGene is positioning itself right at that intersection.

◼️ Bottom line Early data doesn’t always play out But it tells you who’s worth watching.

NewYork based Gilgamesh Pharma raises $60M Series A to advance a differentiated neuropsychiatry pipeline. (25/03/2026)

◼️ Key highlights • $60M Series A led by Satori Neuro (Satori Capital), with participation from Prime Movers Lab & existing investors • Spinout following AbbVie’s ~$1.2B bretisilocin deal in 2025 • Advancing NMDA antagonist blixeprodil (Phase 2 positive → late-stage next) • Expanding neuroplastogen pipeline in collaboration with AbbVie • Building a discovery platform focused on novel NCEs in psychiatric disorders

◼️ Why it matters This is a great example of value creation through strategic pharma partnerships.

Rather than a full acquisition, the AbbVie deal enabled: • Immediate capital return • Pipeline focus • Creation of a new fundable entity

◼️ Pipeline momentum Blixeprodil’s Phase 2 data adds credibility in a space that has historically been high-risk.

At the same time, programs like GM-3009 (ibogaine analog) show willingness to push into next-gen neuroplastogens - an area attracting serious attention.

◼️ Investor lens Satori Neuro’s (Satori Capital) continued conviction led by Amy Kruse stands out.

This is not just new capital.

It’s sustained backing from investors who understand the science & the long game in neuropsychiatry.

◼️ Bottom line A well-structured spinout, credible clinical data & aligned investors.

Gilead Sciences doubles down on T-cell engagers in autoimmune disease with $2.2B Ouro Medicines deal (24/03/2026)

◼️ Headline Gilead expands beyond HIV & oncology with a bold move into next-gen immunology.

◼️ Key highlights • Up to $2.2B acquisition of Ouro Medicines • ~$1.7B upfront + $500M milestones • Focus: bispecific T-cell engagers (TCEs) for autoimmune disease • Lead asset: gamgertamig (CD3 × BCMA) already in Phase 1/2 • Potential across AIHA, ITP, lupus, RA & more • Possible co-development structure with Galapagos

◼️ Why it matters This isn’t just another bolt-on deal. It signals a strategic shift: → Applying oncology-grade immune engineering to autoimmune disease → Targeting BCMA-expressing B cells with precision depletion → Moving toward potentially durable, disease-modifying outcomes TCEs are now crossing the boundary from cancer into immunology.

◼️ Pipeline momentum Gilead is building aggressively: • $7.8B Arcellx acquisition (CAR-T, multiple myeloma) • Now Ouro → expanding into autoimmune TCEs • Strengthening immunology as a core growth pillar Gamgertamig is particularly interesting: → “Pipeline-in-a-product” potential → Multiple indications from a single mechanism → Early regulatory tailwinds (orphan + fast track)

◼️ Strategic angle The Galapagos component is worth watching. If executed: • Risk-sharing on development costs • Access to R&D infrastructure • Unlocking ~$500M capital flexibility This could quietly reshape that long-standing partnership.

◼️ Bottom line Gilead is no longer just defending its base. It’s actively redefining where it plays: → Immunology → Cell therapy → Engineered immune modulation

TCEs in autoimmune disease may be one of the most important shifts in the next decade!

UK Biotech Immutrin raises $87M Series A to advance amyloidosis antibody into clinic (24/03/2026)

◼️ Key highlights • $87M Series A led by Frazier Life Sciences, with F-Prime, Qiming Venture Partners, SR One Capital Management, CIC & Cambridge Enterprise Ventures • Advancing lead antibody into clinical proof of concept for ATTR cardiomyopathy • Built on foundational research from amyloidosis pioneer Mark Pepys

◼️ Why it matters ATTR cardiomyopathy remains a serious, progressive condition with limited disease-modifying options. Antibody approaches that target amyloid deposits could shift the field beyond stabilisation → towards true disease modification.

◼️ Pipeline momentum Starting with ATTR-CM, but with clear platform potential across broader amyloidosis indications, including rare forms where unmet need remains high.

◼️ Cambridge momentum Another strong signal from the Cambridge biotech ecosystem. Deep academic roots, long-term scientific thinking & aligned capital continue to translate into globally relevant innovation.

◼️ Bottom line Well-funded, mechanism-driven companies like Immutrin reinforce why early conviction in science still matters & why Cambridge remains one of Europe’s most productive biotech hubs.

Thermo Fisher Scientific strengthens its clinical trial data leadership with $8.9B Clario acquisition (24/03/2026)

◼️ Key highlights

➡️ $8.875B acquisition of Clario, plus performance-based earnouts

➡️ Clario supports ~70% of FDA & EMA novel drug approvals over the past decade

➡️ High single-digit growth profile with strong margins

➡️ ~$175M synergy target by year 5, largely revenue-driven

➡️ Expected +$0.45 EPS contribution in year one

◼️ Why it matters This is a strategic data play. Thermo Fisher isn’t just expanding CRO capabilities it’s deepening its position in endpoint data, a critical layer in modern clinical trials where speed, quality & decision-making increasingly depend on integrated digital evidence.

◼️ Strategic momentum Clario’s platform connects patient, site & device-level data across trials - exactly where complexity is rising. Combining this with Thermo Fisher’s scale creates a more unified, tech-enabled development engine that can accelerate timelines & improve trial confidence.

◼️ Bottom line Thermo Fisher continues to execute with discipline - targeting assets that are not only accretive but structurally strengthen its role as a full-service partner across the drug development lifecycle.

This deal reinforces a clear trend: data infrastructure is becoming as valuable as lab & clinical capacity.

Contract Research Organisation (CRO)

Some people still underestimate one of the most important moments in any RFP process - the first internal kickoff call! (25/03/2026)

Not the final review. Not even the pricing discussion.

The very first internal RFP discussion.

In CRO & life sciences BD, this is where the tone is set, the strategy is shaped & often where the outcome is quietly influenced.

There is a consistent pattern:

Strong kickoff → aligned teams, confident proposals, clear differentiation Weak kickoff → fragmented input, reactive responses, average submissions

Every RFP and protocol brings its own nuances but there are consistent principles and a practical checklist that make these calls more effective.

BD should lead and frame the opportunity

BD brings the context behind the RFP - what the client has said (and not said), what they care about, who the decision makers are, any pricing signals and what the sponsor does not want to see in the proposal!

A strong kickoff is not a document walkthrough; it is a narrative that helps the team understand how to win.

Start with the win strategy, not the structure

Avoid jumping straight into sections and timelines.

Align first on what winning looks like, where you are differentiated, who the competition is and where the risks sit.

Create clarity on roles and ownership

RFPs are mainly cross-functional and early alignment is key.

Be clear on who drives the process, who owns sections, how input is shaped and what questions need to go back to the sponsor.

Be realistic on timelines

Align on real internal deadlines, review cycles, availability and critical path items such as pricing, resourcing and feasibility.

Planning realistically protects quality.

Surface risks early

Call out capability gaps, resource constraints, scope ambiguity and compressed timelines early.

Visibility creates control.

Set communication and decision structure

Regular check-ins, clear decision-making and escalation routes keep momentum and avoid delays.

Make assumptions visible

Clarity on scope, protocol complexity, cost drivers, feasibility and resourcing keeps the narrative and budget aligned.

Close with clarity

End with clear next steps, ownership and milestones to maintain momentum.

The bottom line

The internal RFP kickoff is the foundation of the entire response.

A well-led RFP kickoff meeting creates stronger alignment, clearer strategy and a better probability of winning proposals!

BIOTECHNOLOGY

China’s transformation into a global biotech innovation engine is one of the most important shifts in life sciences over the past decade.(29/03/2026)

And it’s still underestimated.

For many years, China was viewed primarily as a fast follower - strong in generics, manufacturing & scale.

That is no longer the case.

Today, we’re seeing a very different profile emerge: • A surge in first-in-class & best-in-class drug development • Rapid growth in domestic R&D investment • Increasing participation in global clinical trials • A steady flow of licensing deals with Western pharma

In oncology alone - Chinese biotech companies have become highly competitive - particularly in antibody-drug conjugates (ADCs), bispecific antibodies & cell therapies.

Some key structural drivers behind this shift:

• Government strategy - Long-term prioritisation of biotech as a strategic sector with supportive regulatory reforms

• Capital formation - Strong domestic funding ecosystems, particularly over the last 5–10 years

• Talent return - A significant number of US & EU trained scientists returning to China to build companies

• Speed & efficiency - Faster clinical execution timelines & cost advantages We’re now seeing Chinese biotech move from local relevance to global integration.

• An increasing number of assets are being out-licensed to multinational pharma

• China-originated molecules are entering global Phase II & III trials

• Regulatory standards have aligned more closely with FDA & EMA expectations

This is not about competition alone - it’s about convergence.

Global drug development is becoming more interconnected & China is now an essential part of that ecosystem.

For leaders in pharma, biotech & CROs, the implication is clear:

Understanding China is no longer optional - it’s strategic!

The next wave of innovation will be increasingly global by design.

Executive insight: The most forward-thinking companies are not asking whether to engage with China but how to do so effectively - balancing opportunity, partnership models & long-term positioning in a rapidly evolving innovation landscape.

Biopharma funding recalibrated in 2025 but the headline only tells part of the story (26/03/2026)

◼️ Total funding declined ~20% ($82B vs $102B in 2024)

◼️ Driven by: • Follow-on financings dropping sharply ($46B → $30B) • IPO activity falling to a 10-year low ($3B)

On the surface, that looks like a pullback.

In reality, it’s a shift in how capital is being deployed.

◼️ Put it into context: • 2025 still ranks among the strongest funding years of the past decade • Well above pre-pandemic levels • Private funding remained resilient despite public market pressure

◼️ Where momentum is building: R&D deal activity is rising again led by emerging biopharma (sub-$200M R&D spend)

At the same time, collaboration is becoming more global:

• Deals involving China-headquartered biotechs increased (71 → 94) • 73% of those deals involved US & European partners

And scale is returning in a big way:

Deals > $2B: • 68 in 2025 vs 27 in 2024 • Total value surged to $360B (from $102B)

◼️ Therapeutic & modality trends: • Oncology continues to lead (25% of deals, 32% of value) • Obesity/metabolic & neurology gaining ground

Modality shift accelerating: • ADC deals ↑ 300% • Radiopharma ↑ 65% • Smallmolecules still dominate overall (>50%)

◼️ Bottom line: The IPO window may have narrowed but strategic dealmaking is accelerating.

Capital isn’t leaving biopharma.

It’s becoming more selective, more global & more focused on high-value science!

A recalibration - not a retreat!

Artificial Intelligence (AI)

From Models to Molecules: Anthropic Moves Deeper into Life Sciences (03/04/2026)

◼️ Key highlights:

• Anthropic acquires Coefficient Bio (~$400M stock deal) • Small, high-calibre team (<10), largely ex-Genentech computational biology • Shift toward biology-native AI model development • Capabilities span drug discovery, R&D strategy & regulatory planning • Strengthens ambition to make Claude a leading platform for biology

◼️ Why it matters:

This isn’t about scale. It’s about capability. Anthropic is moving beyond deploying general-purpose models into life sciences… …toward building AI systems grounded in biological understanding from first principles. That shift from horizontal AI to deep vertical integration is where long-term value will be created.

◼️ Pipeline momentum:

• Builds on “Claude for Life Sciences” (launched Oct 2025) • Expands internal scientific & computational biology expertise • Led by Eric Kauderer-Abrams within healthcare/life sciences division • Mirrors broader trend: – Migration of Genentech AI talent into startups & frontier labs – Large-scale bets (e.g. Xaira) validating AI-first drug discovery models

◼️ Bottom line:

AI in pharma is moving beyond augmentation. We’re now seeing the emergence of integrated discovery platforms combining frontier models with domain-native expertise.

The competitive edge won’t come from model size alone

It will come from how deeply those models understand biology.

AI in drug development is accelerating and regulation is still catching up. China is a market worth close attention. (30/03/2026)

Over the past few years, Chinese regulators have moved from observation toward more formal oversight of AI applications.

At the national level, China introduced early rules for generative AI services in 2023 while the NMPA has already issued guidance for AI-based medical software and related product classification.

This points to a broader pattern: rather than waiting for a single overarching AI law, China has tended to regulate through targeted measures tied to specific technologies and use cases.

There is also evidence of real-world implementation. A growing number of AI-enabled medical devices have already been approved, suggesting the system is moving beyond policy into practical application.

Where the picture is still evolving is in core drug development - particularly how regulators will assess AI-generated data, model validation & the role of AI in clinical & regulatory decision-making.

This becomes especially relevant in high-investment areas such as oncology, metabolic disease (including GLP-1s), & broader biotechnology platforms, where AI is increasingly used in target discovery, trial design & pipeline prioritisation.

The more relevant question may not be speed, but approach and how closely regulation develops alongside adoption.

An area that will continue to shape how innovation is translated into practice over the coming years.

There’s a lot of noise around AI replacing jobs but the reality looks more nuanced! (23/03/2026)

Yes, we’re seeing layoffs in parts of the market.

At the same time, the companies building & deploying AI are continuing to hire across engineering, product, commercial & customer-facing roles.

Both things are true.

What’s changing is not simply the number of jobs but the nature of them.

We are moving from task-based roles → to output-based roles.

Less emphasis on executing individual steps.

More emphasis on owning outcomes supported by AI.

The real challenge now isn’t building the technology.

It’s making it work inside companies: • integrating into existing systems • aligning with real workflows • driving adoption across teams • translating capability into measurable value

This is where demand is shifting.

Still strong need for technical talent but growing demand for people who can sit between technology and the business - turning AI into something usable & valuable.

There’s also a commercial driver behind it.

AI is expensive to build & run & consumer monetisation is still evolving.

So focus is moving toward enterprise use cases where value is clearer & more repeatable.

My view:

This isn’t a simple story of job loss or job creation.

It’s a transition.

Some roles will reduce.

Others will emerge.

And the common thread will be this shift:

From completing tasks → to delivering outcomes with AI as part of the workflow.

For leaders, the question is becoming less “are we using AI?” & more:

How are we redesigning roles around it?

GENERAL ATRICLES

The last day of the quarter is about results (31/03/2026)

But those results are a clear indicator of where a company sits on its growth & earnings trajectory.

From experience across public & private life sciences companies, quarter-end tends to surface three very different strategic positions:

◼️ The Good

Results are delivered ahead of time.

Not just strong performance but predictable performance.

This points to a business with aligned strategy, disciplined execution & a growth model that is scaling with confidence.

◼️ The Bad (not always bad but a signal!)

Results are achieved but only in the final stretch.

The outcome is there but driven by timing, effort & deal concentration.

It can reflect strong demand & resilience but also highlights opportunities to improve consistency, visibility & operational rhythm.

◼️ The Ugly

Results are missed & focus turns to containment.

Protecting stakeholder confidence, preserving key relationships & recalibrating quickly.

Often a sign that strategy, execution or market fit need sharper alignment.

◼️ Quarter-end is not just a reporting moment.

It’s one of the clearest lenses into the underlying quality of growth.

Because in the long run both public markets & private investors look beyond the number - they assess the trajectory behind it!

Mindset Is the Real Commercial Differentiator (31/03/2026)

After three decades in life sciences both carrying a number & building teams a consistent pattern emerges: the biggest predictors of performance are not just experience or technique.

Experience is important. Technique is important.

But mindset sits above both.

Because while I can train skills, develop capability & refine approach over time, mindset is far more intrinsic. It shapes how someone shows up every day particularly when things don’t go to plan.

The shift some people miss

Early in a commercial career it’s easy to believe that performance is driven by better messaging, stronger positioning or tighter process.

In reality those are multipliers not foundations.

The real inflection point is when someone moves from presenting value to diagnosing & shaping outcomes. This requires a fundamentally different way of thinking about the role they play in a client relationship.

What mindset actually looks like in practice The strongest individuals I’ve worked with consistently demonstrate a set of behaviours that are difficult to teach but easy to recognise.

They tend to have a naturally positive orientation & see the glass as half full, not through naivety but because they understand that progress in complex environments requires resilience & forward momentum.

They are tenacious in that rejection or setbacks don’t linger. They process it, learn from it & reset quickly. They operate with the belief that the next discussion, the next meeting, the next day is a new opportunity.

They are also deeply curious, asking thoughtful questions, seeking to understand context rather than surface detail & continuously looking to improve how they think, how they communicate & how they create value.

And importantly they contribute to the environment around them. They bring energy & professionalism that lifts the standard of the team rather than detracts from it.

What I look for when hiring

I assume that most capable individuals can develop: • knowledge • understanding of process • technical sales capability

What I focus on is judgement & attitude.

How someone frames a problem, how they prioritise what matters, how they respond when conversations move off script & how they behave when things don’t go their way are far more indicative of long term success than what they currently know.

Why this matters in life sciences In biotech & pharma commercial conversations are rarely linear & often involve scientific uncertainty, company complexity & extended decision making cycles.

In that context clients are not looking for more information. They are looking for clarity, structure & confidence in the thinking of the person sitting across from them.

That confidence is built over time through consistent mindset driven behaviour.

Bottom line

You can train skills. You can refine technique.

But mindset is the multiplier & ultimately the differentiator.

Across a number of recent US-based searches we have conducted (27/03/2026)

Application volumes are noticeably higher than they were even a few years ago

In some cases Running into the thousands for a single role

Not across every position

But the increase is clear

At the same time

AI is becoming part of the hiring process on both sides

Job descriptions are increasingly AI-assisted

And many candidates are using AI to shape and refine their CVs

Which isn’t necessarily a bad thing

It improves clarity It improves presentation

And alot of us are using these tools in some form

But it does change something important

The gap between a well-presented profile And a genuinely strong candidate

Because when everyone has access to the same tools

Differentiation becomes harder to spot

So the challenge isn’t AI itself

It’s how hiring teams adapt their approach

To ensure they’re still identifying real capability

Not just well-optimised profiles

Non-competes in Business Development (26/03/2026) A necessary protection… or a barrier to progress?

It’s one of those topics that comes up quietly in conversations but rarely gets discussed openly

After 30 years in the life sciences industry, I’ve seen this from multiple angles

As an individual contributor As a sales leader And now advising on senior hires across the sector

And the reality is… there isn’t a simple answer

From a company perspective, the rationale is clear

BD professionals sit at the centre of client relationships, pipeline visibility, pricing strategy & future opportunities

Protecting that intellectual & commercial position matters

Particularly in a competitive market where relationships are often the differentiator

From an individual perspective, it can feel very different

Especially when you’re ready to move on, but restricted in how & where you can apply your experience

I’ve seen exits handled in different ways across a long career in the industry: • periods of garden leave • full notice worked with adjusted restrictions • transitions into new roles with clearly defined engagement boundaries

All very different outcomes

All dependent on context, negotiation & timing

Then there’s the broader industry lens

Non-competes can protect stability

But they can also slow the movement of talent, relationships & ultimately innovation across the ecosystem

And in an industry built on collaboration that balance really matters

Geography adds another layer of complexity

In the UK & much of Europe, non-competes are generally enforceable but increasingly scrutinised for reasonableness in duration & scope

In the US, the picture is far more fragmented with some states taking steps to significantly limit or challenge their use

And across APAC, enforcement & norms vary widely depending on the jurisdiction and maturity of the market

So where does that leave us?

In my experience, the most effective outcomes tend to be pragmatic rather than rigid

Clear protection of legitimate business interests

But with a willingness to find workable solutions that allow individuals to continue their careers without unnecessary friction

Because ultimately, this is a highly interconnected industry

Reputations last

And how exits are handled often matters just as much as how people are hired

It’s a nuanced topic

With valid points on all sides

And one that deserves more open, balanced discussion