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Weekly Newsletter

March 5th, 2025

Upcoming SoCalBio Events

SOCALBIO Networking Mixer in Valencia

Thursday, February 27 · 4 - 7 pm PST

@ HuMannity Medtech


Join us for an evening of networking! Connect with professionals from Orange County’s biotech, medtech, and digital health sectors while enjoying great food and drinks. Learn how SoCalBio can support your company and discover cost-saving opportunities through our Group Purchasing Program. Enjoy great food, drinks, and valuable conversations with industry peers!

Register now!

News Updates

Seven biotech companies keeping Taiwan dynamic in 2025 | LABiotech

Taiwan has built a competitive biotechnology sector over the past two decades. Despite a small market, its strong manufacturing and research infrastructure positions it as a regional leader in precision medicine and drug development.


Biotech's top money raisers of 2024 | Fierce Biotech

After a rocky two years, money has started flowing back to biotech, with the return of the megaround exemplified in the $1 billion fundraise of 2024’s top moneymaker, Xaira Therapeutics.


Amgen starts two critical late-stage trials for weight loss drug MariTide | CNBC

Amgen said it has started two critical late-stage trials for its experimental weight loss injection, MariTide, another step in its bid to enter the booming obesity drug market. 


4C Medical secures $175M funding round led by Boston Scientific to support TMVR tech

| MassDevice

4C Medical Technologies announced today that it closed a Series D financing round resulting in gross proceeds of up to $175 million.


Sofinnova secures €1.2B for new biotech investments | BioPharmaDive

The European venture capital firm has backed life sciences companies such as CinCor Pharma and nChroma Bio.


China Targets San Diego Biotech Firm in Broadening Blacklist | NYT

In a sign it is willing to go further in responding to President Trump’s tariffs, Beijing blocked more American companies from importing goods into China.


German court rules Pfizer, BioNTech violated Moderna's COVID-19 vaccine patent | Reuters

A German court on Wednesday ruled that Pfizer and its partner BioNTech violated a COVID-19 vaccine patent held by Moderna 


Medical device firms brace for effect of White House tariffs | MedTechDive

President Donald Trump said delayed 25% tariffs on Mexico and Canada would go into effect on Tuesday. Catch up on MedTech Dive’s latest coverage of Trump’s tariffs.

Applications Now Open for the 2025 SoCalBio Annual Investor Conference!


Showcase your company to a network of angel investors, venture capitalists, and industry leaders at the 2025 SoCalBio Annual Investor Conference. In 2024, we had over 20 investors and over 200 one-on-one meetings scheduled.


Applicants will undergo a screening process with our Innovation Catalysts Committee. Selected companies will receive complimentary admission to the conference to present, as well as early registration for 1:1 networking meetings with investors.

Apply to today!

Join us in supporting the next generation of innovators.


The SoCalBio STEM College Bound Support Initiative (CBSI) team is excited to announce that applications for our 2025 program are now open. For over 20 years, SoCalBio's CBSI initiative has supported high school STEM education statewide by providing financial awards based on scientific proposals submitted to the California Science Fair.

 

By donating to our program, you can help fund awards, plaques, and certificates for the student winners and runners-up and their high schools. Your generous support will enable us to assist even more students in pursuing STEM education.

Donate Online

Legislation to fix ‘pill penalty’ reintroduced in Congress


BIO applauded the reintroduction of bipartisan legislation that would eliminate the “pill penalty” in the Inflation Reduction Act (IRA).


The bill: The IRA arbitrarily gives small molecule drugs only nine years of total protection from price controls, while biologics can be exempt for 13 years. The Ensuring Pathways to Innovative Cures (EPIC) Act, H.R. 1492introduced in the previous Congress and reintroduced on Feb. 21, alters the IRA provision.


Why it matters: “For decades small molecule medicines that come in a pill or tablet have been recognized for improving patient adherence,” said BIO President & CEO John F. Crowley. “Today, instead of building on years of biomedical progress, some innovator companies and investors are now being forced to pull away.”


BIO’s view: “On behalf of America’s patients and biotech innovators. I’d like to thank Reps. Gregory Murphy (R-NC), Don Davis (D-NC) and Richard Hudson (R-NC) for their leadership on this important issue,” Crowley said. “This bipartisan legislation will eliminate the pill penalty and help ensure science and researchers—not government bureaucrats—determine the possible treatments innovator companies pursue."


Related legislation: Rep. Davis on Thursday introduced the bipartisan Maintaining Investments in New Innovation (MINI) Act (H.R.1672). Like the EPIC Act, the MINI Act would increase price control exemptions of small molecule drugs from nine to 13 years, but it specifically provides this extension to small molecule drugs with genetically targeted technology. - Read more on Bio.News.


House members urge passage of PBM reforms


Congress must pass legislation to prevent pharmacy benefit managers (PBMs) from inflating drug costs, limiting patient access, and forcing pharmacy closures, lawmakers from both parties agreed last week.


What happened: At a Feb. 26 Energy & Commerce Subcommittee on Health hearing, Chair Earl “Buddy” Carter (R-GA), Ranking Member Diana DeGette (D-CO), Reps. Jake Auchincloss (D-MA). Mariannette Miller-Meeks (R-IW), Rep. Diana Harshbarger (R-TN), Rep. John Joyce (R-WV), and others criticized PBMs.


Why it matters: Three PBMs, acting as middlemen, control 80% of the U.S. prescription drug market and leverage their position to profit through anticompetitive tactics that harm patients.


Where things stand: Bipartisan PBM reforms and other important health legislation were included in a proposed funding bill in December but ultimately cut from that bill, noted Rep. DeGette.


What’s next: With Congress focused on spending legislation, Rep. DeGette suggested reintroducing the health bills in March by “suspension,” a procedure allowing for a quick vote on broadly supported measures. Rep. Carter agreed to consider it.


What they’re saying: “We have heard directly from our constituents that the harmful and anticompetitive tactics of some PBMs have only gotten worse, and that Congressional action is desperately needed,” Rep. Carter said.  - Read more on Bio.News.



Special Saving on Lab Supplies

Become a member of SoCalBio and enjoy fantastic savings on lab supplies from Avantor's extensive catalog through SoCalBio's Group Purchasing.

Learn More!

SoCalBio's Partner Events

11th Annual

American Biomanufacturing Summit

April 15-16, 2025 - San Francisco, CA


The American Biomanufacturing Summit is taking place April 15-16, 2025, in San Francisco, CA. The summit brings together over 200 biopharma and biotech executive leaders for 2 days of sessions, workshops, and networking. 

With sessions led by top biotech executives, the agenda is designed to discuss current trends, strategic insights, and best practices in key topics like manufacturing, cell and gene therapy, capacity management, quality assurance, quality control, regulatory compliance, operational excellence, supply chain and logistics. Network with your fellow biopharma leaders as we explore strategies to maximize efficiency while remaining compliant within the biomanufacturing space.

Learn more
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Caltech Entrepreneurs Forum:

The AI Hardware Ecosystem: AI Factories of the Future

March 15, 2025 - Pasadena, CA


The industry forecasts over $1 Trillion of hardware investment will be made in AI Factories between now and 2030. NVIDIA’s chips are only a fraction of the investment needed and small firms working on cooling solutions are becoming overnight unicorns. Anyone doing a better job solving the increasing technical challenges of data transmittal, power management, cooling and memory in an AI can find quick growth from customers like Microsoft, Amazon or Meta for their data centers. Join us to hear from industry thought leaders who have been through similar IT hardware growth cycles as well as those leading innovative startups in the ecosystem.

Local Highlights

Do you have a recent scientific breakthrough, investment milestone, or commitment you would like to share? We are always looking to share our member's stories Submit your stories to scbc@socalbio.org

Neurocrine Biosciences Announces Initiation of Phase 1 Clinical Study Evaluating NBI-1140675, a Second-Generation VMAT2 Inhibitor, in Healthy Adults


Capricor Therapeutics Announces FDA Acceptance and Priority Review of its Biologics License Application for Deramiocel to Treat Duchenne Muscular Dystrophy


ACELYRIN and Alumis Reaffirm Strategic and Financial Rationale of Proposed Merger


Nervonik Raises $13 Million in Series A Financing to Advance Next-Generation Peripheral Nerve Stimulation for Chronic Pain Relief


Contineum Therapeutics Initiates Patient Dosing in Phase 1b Chronic Pain Trial of PIPE-791


Dermata Announces that Last Patient Completes Last Visit in Pivotal XYNGARI™ Phase 3 STAR-1 Clinical Trial for Acne


Latigo Biotherapeutics Granted FDA Fast Track Designation for LTG-001, Potential Best-in-Class Nav1.8 Inhibitor for the Non-Opioid Treatment of Acute Pain


New Publication from ICR and Royal Marsden Researchers Highlights the Importance of Ultra-Sensitive ctDNA Testing for Early-Stage Breast Cancer Recurrence Detection


CureDuchenne and Children's Hospital of Orange County Partner to Bring World-Class Care to Families with Duchenne Muscular Dystrophy


Laekna Announces IND Approval of LAE120 (a Novel USP1 Inhibitor) for Treatment of Advanced Solid Tumors by FDA


Actio Biosciences Announces First Participant Dosed in Phase 1 Clinical Trial of ABS-0871, a Novel TRPV4 Inhibitor, for the Treatment of Charcot Marie Tooth Disease 2C


Acadia Pharmaceuticals and Saniona Announce Initial Positive Results from ACP-711 (formerly SAN711) Phase 1 Study


Avidity Biosciences Honors Rare Disease Day® and Global Efforts to Support People and Families Impacted by Rare Neuromuscular Diseases


Adagio Medical Announces Strategic Restructuring to Accelerate US Pivotal IDE Trial and Product Innovation


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