Plus, news about BioNTech, Medigene, YGION Biomedical, Eli Lilly and Alloy Therapeutics:
Lyra lays off 87 employees: The Watertown, MA-based biotech will let go of 75% of its workforce, stop manufacturing and commercialization activities and seek to sublease its facilities. It will also evaluate potential strategic options, the company said, following a Phase 3 fail in chronic rhinosinusitis earlier this month. The company had $87 million in cash, equivalents and short-term investments at the end of March. It expects to have runway into 2026. — Kyle LaHucik
Sanofi, Regeneron flesh out Dupixent’s COPD data: In the Phase 3 NOTUS trial, the megablockbuster improved lung function in former smokers by more than two-fold. The data come after the study previously read out a topline figure of 34% reduction in COPD exacerbations in November. The FDA is set to decide whether to approve Dupixent in former smokers with COPD by June 27. — Max Gelman
BioNTech, Medigene extend R&D agreement: The partnership will last beyond the originally-planned three years, though a new end date was not disclosed. The pair first signed the deal in February 2022, giving BioNTech a preclinical T cell receptor program and Medigene $29.5 million in upfront cash. — Max Gelman
Personal cancer vaccine company raises €15M: YGION Biomedical said the Series A round was funded by an undisclosed Austrian private trust. The biotech is currently developing a preclinical personal vaccine that uses tumor antigens. — Lei Lei Wu
Eli Lilly enlists biologics platform: The drugmaker signed a multi-year, non-exclusive license with Alloy Therapeutics to use its antibody drug discovery platform. Financial terms of the deal were not disclosed. Alloy said that the companies working with its biotech program — including its venture arm, incubator and R&D services — can access the platform. — Lei Lei Wu