Caribou is scaling back its operations, halting multiple programmes, and cutting staff to focus on two cancer programmes.
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MSD is also bracing for a $200m hit due to tariffs as it accelerates US manufacturing and shifts its global supply strategy.
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Pharma executives emphasise that without urgent action, Europe may face a decline and an acceleration in the departure of companies.
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The biopharmaceutical industry is positioned for continued recovery, driven by recent FDA approvals and billion-dollar strategic collaborations.
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The company anticipates submitting a biologics licence application for accelerated approval in the US in early 2026.
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The financial injection comprises a $30m Series A round and a $70m Series B round.
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