Mario Alberto Accardi

Oncology data momentum: Freenome’s $330M SPAC + GE–Mayo’s GEMINI-RT collaboration   Two oncology “infrastructure” moves this week point to where value is accruing: data platforms at scale. First, Freenome agreed to go public via a SPAC with ~$330M in committed/available capital to build out commercialization and data infrastructure for blood-based cancer screening (CRC first, multi-cancer later). Second, GE HealthCare + Mayo Clinic launched GEMINI-RT, a multi-year program to personalize radiation therapy by integrating imaging, AI and patient monitoring across the care continuum. For investors and operators, the signal is clear: durable advantage is shifting from single “tests” or devices to learning systems—data pipelines, inference at the edge, and workflow-embedded services. Near-term watch-items: SPAC redemptions and timeline to FDA/coverage for Freenome’s CRC assay; for GEMINI-RT, concrete pilots, reproducible endpoints (planning time, replans avoided, toxicities), and routes from research to deployable products. Caveat: these are financing/strategic-collaboration milestones—not clinical readouts—so execution and evidence generation will make or break impact. #MedTech #DigitalOncology #Diagnostics #AIinHealthcare https://lnkd.in/gCtQA_Er

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NYC life sciences: what actually makes a company investable (right now): 🧬 A clear pathway named up front (IND → Ph1/2, 510(k)/De Novo/PMA, LDT/IVD with CLIA) and what must be true in the next 90–180 days. 🧬 Evidence design that travels: prospective where possible; endpoints that a payer or P&T committee respects. 🧬 GxP maturity appropriate to stage (GLP/CMC readiness for IND; design controls/ISO 13485 for devices; CLIA validation for Dx). 🧬 Critical quality attributes called out with a validation plan; supply risk and second-source thinking visible. 🧬 Payback windows and retention where applicable (Dx/DH/platform tools); early HEOR/real-world proxy for therapeutics. 🧬 Unit economics that hold outside the favorite segment; sensitivity on gross-margin drivers. 🧬 Named health-system/payer/IDN access (intro → pilot → scale), security/compliance cleared. 🧬 Use of proceeds mapped to de-risking milestones (e.g., tox complete, first-in-patient, CLIA validation, payer evidence package), not headcount optics. NYC advantage (why it matters here): 🔑 Dense access to academic medical centers, payers, and translational partners compresses time-to-“yes/no”—if your implementation, privacy, and validation are thought through. 🔑 Talent depth (clinical ops, CMC, regulatory, HEOR) allows fast iteration without leaving the customer. Fast killers: 📍 “Runway” talk without a risk-reduction plan. 📍 Roadmaps without owners/dates. 📍 Beautiful science with no path to coverage/coding or clinical adoption. 📍 Single-whale dependence (one PI, one site, one buyer). Bottom line: In New York, teams that publish these receipts get to a clean go/no-go faster. Everyone else cycles. #NYCLifeSciences #BiotechNYC #HealthTech #InvestorRelations

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Generate Biomedicines is set to raise up to $425 million through its upcoming Nasdaq IPO, with proceeds aimed at advancing its lead asthma drug, GB-0895, through Phase 3 trials. The AI-powered anti-TSLP antibody has been engineered for an extended half-life, promising a long-acting therapy that could be administered only twice a year. The funds will primarily support these pivotal trials, expected to enroll 1,600 patients. Additionally, the IPO will help drive development for other programs, including treatments for chronic obstructive pulmonary disease (COPD) and cancer. With backing from Big Pharma partners like Amgen and Novartis, Generate is poised to push forward in the competitive biotech landscape. #Biotech #Asthma #AIinHealthcare #RespiratoryHealth #Biopharma https://lnkd.in/gdRGsGJT

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Love this Andrei Georgescu, Ph.D. “Success, to me, looks like Vivodyne becoming the modern infrastructure for drug programs that seek to eradicate the extremely burdensome diseases of today, like fibrosis, cancers, inflammatory disease, autoimmunity... I see Vivodyne as the fundamental infrastructure needed to drive successful new therapies for such complex diseases that human trial-and-error cannot solve quickly enough.”

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Pleased to see the continued growth of ARTHEx Biotech. As the company’s first investor from inception, Invivo Partners has seen it evolve into a leading example of Spanish tech transfer, advancing a delivery platform for RNA therapeutics with ATX-01 spearheading a multinational Phase I/IIa DM1 trial.

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I see deal sourcing entering a new phase. As Ranu and Tyler point out, a lot of future value is sitting in earlier-stage or under-scaled assets that generate limited revenue today but hold meaningful growth potential. AI-powered always-on deal radar brings real-time intelligence into the process. Instead of periodic outreach, teams can maintain constant visibility, identify opportunities earlier, and evaluate them with greater confidence. From a transactions perspective, pipeline renewal pressures and competition keep rising. I believe moving from episodic sourcing to persistent insight could shape the next chapter of M&A execution.

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Honored to have participated on the Emerging Technology Advisory Board (ETAB) for New York State. In December, ETAB released its report on biotech and NYS. The report highlights the high-impact opportunity for additional investment in biotech: • NY’s life science sector already supports $100B+ in annual economic output • Every $1 in biotech R&D investment generates an estimated $2–$4 in economic activity • Talent shortages threaten growth in 65% of NY’s emerging tech fields • And without new state investment, NY risks losing ground to faster-moving innovation hubs Read the full ETAB biotech report here: https://lnkd.in/exRk-Aq3

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Preclinical partnerships favor platforms — and Western biotechs Strategic partnerships/research collaborations in Haystack's 2025 sample made up the largest share of preclinical deals we tracked. Over half disclosed no financial terms at all, underscoring their exploratory nature. Among the disclosed deals: • Upfront payments ranged from $5M to $110M • Median upfront was $35.5M • US companies accounted for ~60% of partnerships The story of last year was China dominated preclinical licensing. But one striking absence in the partnership data: China-headquartered companies were virtually missing from collaborations. The contrast suggests search and development teams at multinationals are much more active with Western biotech; and also many partnerships with Chinese companies are likely happening in mainland China with with teams on the ground there based in China, which are never being publicly disclosed. That divergence between licensing and partnerships in the preclinical space is worth watching closely See the analysis here: https://lnkd.in/evRAYYyg

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The latest report from our Corporate Transactions Group dives into the state of the global biopharmaceutical industry, M&A trends and VC insights. Read the report here: https://okt.to/CU94qM #Biopharmaceuticals #HealthcareIndustry #LifeSciences #CorporateTransactionsGroup

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The Longevity Biotechnology Association (LBA) held its inaugural Investors Conference on October 23, 2025, in New York City — an event that brought together leading investors, early-stage biotech founders, and scientists advancing therapies that target the biology of aging. The event convened 9 companies and 15 hand-selected investors. The goal was simple but ambitious: to help bridge the gap between geroscience research and the capital needed to translate it into clinical breakthroughs. I led off the company presentations with “Eos SENOLTYIX’s Novel MitoXcel™ Geropeptides Demonstrate Features of Safe and Effective Gerotherapeutics“ on behalf of Eos SENOLYTIX, Inc. For more information about our Company, visit https://eossenolytix.com/ and https://mitoxcel.com/. See the LBA's post about the event here: https://lnkd.in/eKYQhg6C

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Biopharma is getting more sophisticated about how (and when) money changes hands. In a new P05 blog, Sébastien Gensior dissects “royalty deferral” structure - financing and licensing deals that shift royalty payments into the future and make them contingent on success events like approval, launch, or hitting revenue thresholds. The appeal is straightforward: developers ease early cash burn and focus resources on trials and launch, while licensors or financiers accept timing risk in exchange for participation in upside if the product performs. The post distinguishes internal deferrals embedded in licensing (for example, launch-period “royalty holidays” or low initial rates that step up after costs are recovered) from external, investor-led structures such as milestone-triggered funding, prepaid or “synthetic” royalties with payout caps, and “pay-if-approved” arrangements. Across case studies, the economic logic is consistent: cash outflows start only when the asset succeeds, aligning payments with revenue rather than a fixed schedule. This flexibility isn’t free of trade-offs. Accounting often treats upfront proceeds as debt-like liabilities with accretion, and bankruptcy courts may scrutinize these structures - especially when collateral is involved - blurring lines between royalty sales and secured financings. Still, for companies bridging late-stage development or launch without issuing equity, performance-contingent royalties can be a pragmatic alternative to dilutive capital or traditional loans. Read this fantastic blog on the link below: https://lnkd.in/eA_yh6AF #Financing #Royalties #Deals #Biopharma

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Thrilled to announce Immutrin's £65 million Series A financing. This milestone reflects the strong confidence in our mission to develop a best-in-class amyloid clearing agent for improved outcomes in ATTR cardiomyopathy. I'm extremely grateful to our new and existing investors for their support, to our exceptional team and to Immutrin’s scientific founders for their groundbreaking work that made this possible.

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Is the commercial story around your drug candidates sound, that is validated with market based evidence that ensures commercial success? If not you are less likely to get the right partner or investor. Meet Jessie at BIO-Europe Spring in Lisbon to find out more about how we can help.

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PURE AI PLAYS IN BIOTECH: THE NEXT STRATEGIC ASSET CLASS IN PHARMA/ As many of you know, we specialise in emerging and leading-edge fields. Here, we map the rise of a new type of company — the pure-AI-platform biotech — and how the rules of value in drug discovery are being rewritten. We’re entering a world where the marginal cost of intelligence approaches zero: once a model is trained, one more virtual experiment — one more idea tested — costs almost nothing. These companies behave less like traditional biotechs and more like scalable software engines: IP-centric, data-hungry, endlessly reproducible. To illustrate the momentum: AstraZeneca’s AI discovery partnership with CSPC (up to $5.3B; $110M upfront), BioNTech’s acquisition of InstaDeep (£562M total; £362M upfront), and Roche/Genentech’s alliance with Recursion (up to $12B; $150M upfront) all point in one direction — pharma isn’t just experimenting with AI; it’s integrating it at the core of discovery. This paper explores: ● how we analyse these opportunities — as intelligence becomes abundant, value migrates to those who own high-quality data, close the loop between AI and experiment, and convert throughput into repeatable economics. ● how that shift is transforming pharma’s make-vs-buy calculus. ● the venture frameworks we use to price risk. For investors and founders, this isn’t about predicting the next drug — it’s about understanding how drug discovery itself is being re-architected. The next cycle will not reward hype; it will reward throughput, learning speed, and economics. 👉 You can download or print the full paper here: https://lnkd.in/dfHTet6s

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EQT Life Sciences is pleased to announce the final closing of Tubulis GmbH’ Series C financing, bringing the total raised to €344 million ($401 million).The round welcomed additional new investors Fidelity Management And Research Company , Janus Henderson Investors and Blackstone Multi-Asset Investing joining the syndicate led by new investors VENROCK HEALTHCARE CAPITAL PARTNERS LP, Wellington Management and Ascenta Capital.Tubulis, an LSP 7 portfolio company, is developing next-generation antibody-drug conjugates (ADCs) that unite precision engineering with therapeutic potency. Its lead program, TUB-040, recently delivered positive early clinical data in platinum-resistant ovarian cancer, presented as a late-breaking oral at ESMO 2025, demonstrating clear clinical proof-of-concept and strong differentiation in the ADC field.

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Novartis and Argo Biopharmaceutical continues to deepen their relationship with a new multibillion-dollar agreement that will see the partners work on multiple siRNA assets for cardiovascular targets. Announced on 3 Sept, Novartis will front Argo $160 million and commit up to $5.2 billion in milestone and option payments. Argo, meanwhile, will additionally be entitled to tiered royalties. Novartis and Argo first linked up in January 2024 with two license and collaboration agreements for investigational cardiovascular RNAi therapies. Those initial deals totaled $185 million upfront plus up to $4.165 billion in milestones. This new agreement covers “multiple” cardiovascular candidates from Argo’s pipeline. Argo brings to the table its siRNA drug discovery engine, which aims to produce more stable, long-acting siRNA molecules. Congratulations to both Argo and Novartis! Well done! https://lnkd.in/gJMtwnKd

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France Grants Reimbursed Compassionate Access (AAC) for Agenus’ BOT/BAL in Refractory MSS Metastatic Colorectal Cancer | AFP.com https://lnkd.in/eBbdDrUA As a board member of Agenus, I am proud that our investigational combination of botensilimab plus balstilimab (BOT/BAL) is now available to eligible patients with refractory microsatellite-stable colorectal cancer under France’s compassionate access (Accès compassionnel, or AAC) framework. This is more than a milestone for Agenus—it is a lifeline for patients and families facing one of the hardest-to-treat cancers. Published clinical data with BOT/BAL show durable responses and long term survival in this population, in fact, more than 42% of patients are alive beyond a median of 2 year follow-up. Through AAC, patients in France can now access therapy with 100% reimbursement, while hospitals and physicians receive clear guidance and support. By contrast, in the U.S., compassionate use depends on single-patient INDs (SPINDs). These require FDA approval, institutional review board sign-off, and sponsor support on a case-by-case basis. The barrier is even higher because—unlike France—U.S. law prohibits reimbursement for investigational products prior to commercial approval. Medicare, Medicaid, and private insurers cannot pay for a therapy that has not received FDA approval, even if no alternatives exist. The intent is to protect patients and payers from unproven interventions, but in practice it means the cost falls to hospitals and/or companies. Many institutions, facing regulatory and financial strain, are now declining to support SPINDs altogether. The result? U.S. patients often wait longer, face more obstacles, and sometimes miss out entirely on access to promising investigational therapies—while patients in France and elsewhere can receive care under nationally funded programs. France’s AAC shows what’s possible when policy meets innovation. The U.S. (U.S. Department of Health and Human Services (HHS and FDA) must seek a better balance—one that ensures safety and evidence generation without closing the door on hope for patients with no other options. #ImmunoOncology #PatientAccess #Policy #ColorectalCancer #Agenus

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