Boston-based clinical-stage biopharma Ratio Therapeutics has closed a $70 million Series C financing, bringing its total capital raised to over $240 million. The round saw continued backing from existing investors, including Duquesne Family Office and Bristol Myers Squibb, alongside new participation from Catalio Capital Management, Eli Lilly and Company, and Wasatch Group.

Proceeds will support the ongoing seamless Phase I/II ATLAS trial evaluating lead asset [Ac-225]RTX-2358, a fibroblast activation protein (FAP)-targeted radiopharmaceutical, in patients with relapsed or refractory soft tissue sarcoma. Funds will also drive a next-generation radioligand therapy (RLT) candidate toward clinical entry and expand early-stage oncology discovery.

To address sector-wide radiopharma bottlenecks, Ratio is scaling its production capabilities. Key infrastructure moves include expanding a clinical manufacturing partnership with CDMO PharmaLogic in Idaho Falls and developing a 65,000-square-foot vertically integrated facility in Salt Lake City, Utah, scheduled to open in H2

October 29, 2026 — New York City 🗽🇺🇸

We’re giving away 5 passes to the Galien Forum, and if you have ever wanted to be in a room with the people leading some of the most influential companies in pharma, this is your opportunity.

Taking place on October 29, 2026, in New York City, the Galien Forum brings together global chairs, senior executives, scientists, innovators and decision-makers for meaningful conversations about the ideas shaping the future of medicine and healthcare.Attendees will have the opportunity to hear from and connect with leaders from Johnson & Johnson, Pfizer, Roche, Regeneron, Merck and other globally recognized organizations.

These are the people operating at the cutting edge of the industry developing new treatments, advancing scientific research, building breakthrough technologies and making the decisions that influence the direction of the pharmaceutical industry at large.

For more than 20 years, Prix Galien USA has recognized the innovations transforming patient care. The Galien Forum creates an opportunity to go beyond the awards and hear directly from the leaders, researchers and organizations behind that progress.

You can see the post HERE!

Follow The Galien Foundation on LinkedIn to stay updated on announcements, speakers, and innovations and upcoming event.

The German Pharmaceutical Industry Association (BPI), in partnership with service provider Dr. Ebeling & Assoc. GmbH (E&A), has launched the ERA Pooling Initiative. The collaborative project is designed to help marketing authorization holders (MAHs) pool environmental data, reduce redundant clinical/environmental testing, and ensure compliance with increasingly strict European Environmental Risk Assessment (ERA) requirements.

The initiative directly addresses the updated EMA ERA guideline and the upcoming EU Pharmaceutical Package, which elevate environmental data to a central role in regulatory approvals. Inadequate or missing ERAs under the revised framework risk regulatory delays, additional study requirements, or outright refusal of marketing authorizations. The heightened standards apply retroactively to active pharmaceutical ingredients (APIs) approved prior to 2005, many of which lack modern, comprehensive environmental safety datasets.

Open to all interested MAHs and MAAs regardless of geography, the long-term initiative aims to align with EMA data-sharing principles, optimize R&D costs, and eliminate duplicate animal and environmental testing across the sector.

Obsidian Therapeutics has completed its strategic merger with Galera Therapeutics, establishing a combined publicly traded entity operating under the Obsidian name. Concurrent with the merger, Obsidian closed an oversubscribed $350 million private placement financing, extending the company’s cash runway into the second half of 2028 to fund key clinical milestones.

Obsidian leverages its cytoDRiVE® technology, which uses FDA-approved small-molecule drugs to precisely control the timing and expression levels of engineered proteins within tumor-infiltrating lymphocyte (TIL) cell therapies. The lead candidate (OBX-115) is an autologous TIL therapy engineered with regulatable membrane-bound IL-15 (mbIL15). By generating a cell-intrinsic persistence signal, OBX-115 avoids the need for toxic exogenous high-dose interleukin-2 (IL-2), enabling minimally invasive core needle biopsy tumor sourcing and low-dose lymphodepletion suitable for outpatient administration.

OBX-115 holds U.S. FDA Fast Track and Regenerative Medicine Advanced Therapy (RMAT) designations for unresectable or metastatic melanoma. Enrollment in a registration-enabling cohort for immune checkpoint inhibitor-resistant melanoma is imminent, with topline data expected by late 2027. Phase I data in non-small cell lung cancer (NSCLC) are projected for H1 2027.

Alnylam Pharmaceuticals experienced a sharp equity decline of up to 29% following the release of its Q2 2026 financial results. Despite flagship RNAi therapy Amvuttra (vutrisiran) surpassing $1 billion in quarterly revenue for the first time, sales slightly missed Wall Street consensus, prompting the company to lower its full-year transthyretin amyloidosis (ATTR) revenue outlook.

Amvuttra generated $1.01 billion in global product sales in Q2 2026, reflecting a 106% year-over-year increase. However, this fell ~4% short of analyst expectations. U.S. revenue reached $809 million, missing estimates by 2%. Alnylam revised its full-year 2026 TTR net product revenue forecast down to $4.2 billion–$4.5 billion (from $4.4 billion–$4.7 billion), representing a $200 million reduction at both ends.

Total TTR franchise revenue grew 15% sequentially in the U.S., with underlying patient demand growth doubling compared to Q1 2026. Patient adherence remains above 90%. Management attributed the revenue shortfall primarily to the expected normalization of second-line treatment starts. Initial post-approval growth in ATTR-cardiomyopathy (ATTR-CM) benefited heavily from pent-up demand among pre-treated patients switching therapies.