Plus, news about EyePoint, Lyra Therapeutics and Plus Therapeutics:
For global health, $300 million: The Bill & Melinda Gates Foundation, the Novo Nordisk Foundation and Wellcome are each pitching in $100 million to fund researchers working on improving health in low- and middle-income countries. The group will focus on three areas: connections between climate change and health; antimicrobial resistance, infectious disease surveillance and vaccine development; and studying the interplay between nutrition, immunity, infectious diseases and cardiometabolic disease. — Ryan Cross
BioNTech cuts cancer vaccine trial: The German biotech is discontinuing a Phase 1/2 prostate cancer trial for its FixVac candidate called BNT112 in combination with Regeneron’s Libtayo, according to its first-quarter earnings report. BioNTech continues to study other FixVac candidates in melanoma, triple-negative breast cancer, non-small cell lung cancer, HPV16 and head and neck squamous carcinoma. — Nicole DeFeudis
EyePoint says potential Eylea competitor flunked Ph2: Duravyu, or EYP-1901, did not meet the primary endpoint in a mid-stage trial for non-proliferative diabetic retinopathy. The candidate succeeded in a Phase 2 study for wet AMD late last year, and a Phase 3 study in that indication is still on track to launch in the second half of 2024. EyePoint’s stock $EYPT fell about 35% on Monday morning. — Max Gelman
Lyra Therapeutics reports Ph3 fail, stock craters 90%: The Massachusetts startup said its LYR-210 program did not hit its primary endpoint in a trial for chronic rhinosinusitis. Lyra is running another Phase 3 study that is currently enrolling patients and is expected to wrap in the second half of this year. Lyra’s shares $LYRA fell 90% to $0.40 apiece on Monday morning. — Max Gelman
Plus Therapeutics gets up to $18M: The company will receive $6.5 million upfront and up to $11.5 million in additional proceeds as part of a PIPE that includes an investment from AIGH Capital Management and others. Plus now has up to $34 million in cash runway. — Jaimy Lee