Anavex’s slow journey to failure

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Hello, everyone, and welcome back. Damian here with a look at the year ahead for biotech, plus a long-awaited admission and a remembrance for one of medicine’s true stalwarts.

The need-to-know this morning

• Goldman Sachs Asset Management raised $650 million for a new life sciences fund that will invest in biotech, tools, and diagnostic startups.
• Agios Pharmaceuticals said its drug, called mitapivat, significantly increased hemoglobin levels compared to a placebo in patients with non-tranfusion-dependent alpha and beta thalassemia. The results achieved the goals of a Phase 3 study.

Welcome back to biotech

In the time since last we sent this newsletter, the banner biotech index closed the year 8% above where it began, a late-year rally driven by yet another billion-dollar deal and the revelation that 2023’s last big catalyst was a major success.

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