R1 Therapeutics Inc of California, US, has made its market debut with $77.5 million in venture finance and an exclusive global license to develop and commercialise a new product for a disorder caused by chronic kidney disease. Announced on 17 March, the financing was co-led by Abingworth LLP of the UK, F-Prime Capital of Cambridge, US, and the US DaVita Venture Group.
Evotec SE expects to reduce its workforce by up to 800 people and close down more business sites in its drive to regain momentum following a two-year slowdown in the market for drug discovery and preclinical development. The Germany-based company is one of Europe’s larger biotech service and drug development organisations with a global presence in manufacturing. It is a Nasdaq-listed company which had a market capitalisation of €969 million on 31 December 2025.
Immunic Inc, a US-based biotech with a research arm in Germany, announced the awarding of a key patent by the European Patent Office on 10 March, strengthening its position ahead of the anticipated commercialisation of its lead product vidofludimus calcium (IMU-838) for multiple sclerosis. Vidofludimus is currently in Phase 3 with top line data expected at the end of 2026. If the data are positive, a regulatory review would follow.
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