The agreement, which runs through 2033, comes as Samsung Biologics continues to expand its large manufacturing footprint in South Korea.

Frazier’s life science fund has already benefited several successful biotechs, including Verona Pharma, which was acquired by Merck for $10 billion, and Carmot Therapeutics, which Roche bought for $2.7 billion.

Novartis’ shares fell 13% this week after the report of three separate late-stage asset setbacks. The impact went beyond the Swiss drugmaker, dragging peers down across the market.

Back-to-back failures of multiple late-phase trials have raised questions about how Novartis has deployed capital in pursuit of drugs to drive growth through the 2030s.

A few months after a new CEO stepped up to helm Takeda, the drugmaker will now have to prepare for another leadership change as its long-time R&D head plans his exit.

With multiple drug pricing initiatives like Most Favored Nation now in force, drugmakers have to reinvent their commercial strategies to stay ahead of the fast-moving policy environment, according to a new report from Numerof & Associates.

Encoded Therapeutics’ lead asset ETX101 is a gene therapy being tested for Dravet syndrome. Phase 1/2 data showed substantial reductions in seizures.

Last month, biotech and pharma companies making or planning workforce cuts included three whose reductions will more than halve their workforces. Blueprint Medicines’ layoffs will affect the most employees.

Applying artificial intelligence and automation tactics has played a large role in talent strategy conversations in the past few years. While many organizations initially focused on experimenting with tools and driving adoption to create efficiencies, leading employers are now asking deeper questions.

Follow along as BioSpace tracks job cuts and restructuring initiatives.