Delilah Alvarado

Dive Brief: Biotechnology company Rallybio is partnering with Johnson & Johnson, announcing a collaboration Wednesday to develop new treatments

The biotech is acquiring Clade Therapeutics and its stem cell technology at a discount price, while adding $60 million via a private placement led by Bain Capital.

While corporate venture arms are commonplace among pharmaceutical companies, the new fund announced Monday is Regeneron’s first.

The deal, which could be worth up to $1.8 billion, is the latest research collaboration involving small molecule drugs that modify RNA.

The acquisition of a Nexus Pharmaceuticals facility in Wisconsin could help Lilly better meet demand for injectable medicines, like those it makes for diabetes and obesity.

Giovanni Caforio, who left Bristol Myers in November after eight years as CEO, is set to succeed Novartis’ longtime board chair Joerg Reinhardt next year.

First quarter sales of Zurzuvae doubled consensus estimates, though analysts are skeptical whether the better-than-expected launch will continue.

Sales of the shingles vaccine Shingrix and the RSV shot Arexvy helped fuel quarterly revenue totals that surpassed analyst expectations, though the company warned momentum could slow in the months ahead.

The $1 billion dollar acquisition will add to Novartis’ pipeline of the targeted radiation drugs, giving it a potential lung cancer treatment.

The reduction of 1,500 roles in the first quarter is part of CEO Bill Anderson’s plan to shrink Bayer’s bureaucracy and “radically realign” its culture.