Strong private investment signals renewed confidence in the UK life sciences sector, but public markets remain a challenge. The UK biotech sector continued its funding recovery in 2026, with investment reaching a five-year high during the second quarter as venture capital activity surged across the industry. New figures from the UK BioIndustry Association (BIA) show that UK biotech companies secured £2.11 billion ($2.84 billion) in equity financing during Q2 2026, including a record £2.05 billion in venture capital investment. The latest figures build on the positive momentum seen earlier in the year and highlight renewed investor confidence in UK life sciences following a more challenging funding environment in recent years. “This quarter shows continued improvement in funding confidence and deal flow right across the UK biotech sector,” said Chris Molloy, chief executive of the BIA. “Its major headline is the strongest single quarter for UK life sciences venture funding in the last five years.” Isomorphic Labs drives record-breaking quarter The headline figure was heavily influenced by the major fundraising round completed by Isomorphic Labs. The Alphabet-backed company raised £1.6 billion in a Series B financing round in May 2026, representing one of the largest biotech funding events in the UK’s history. However, even excluding Isomorphic Labs’ contribution, the sector still demonstrated meaningful growth. UK biotech companies raised £498 million in venture capital during Q2 2026, compared with £279 million during the same period in 2025. The BIA said the figures demonstrate improving confidence among investors and continued appetite for innovation-led biotech companies. Seed investment remains resilient While large late-stage financings dominated headlines, early-stage investment also remained steady. The BIA reported that seed investment remained resilient during the second quarter, with eight seed financings completed during the period. The organisation highlighted continued institutional support for the sector as a positive indicator for future biotech pipeline development. Early-stage funding remains critical for companies developing novel therapeutics, platforms and technologies, where significant investment is required before clinical validation and commercial opportunities emerge. UK strengthens position as Europe’s leading biotech funding market The UK continued to outperform other European biotech markets during the quarter. UK venture capital investment accounted for 61% of all European biotech venture funding in Q2 2026, compared with 57% during Q1. The BIA said the figures reinforce the UK’s position as Europe’s leading destination for biotech investment. For biotech companies seeking capital to advance clinical programmes, expand research capabilities or scale manufacturing operations, the latest funding data highlights the continued attractiveness of the UK ecosystem. Public markets remain the missing piece Despite strong private investment activity, the BIA warned that public markets have yet to recover at the same pace. No UK biotech companies completed an initial public offering (IPO) during 2026, highlighting the ongoing gap between private financing strength and public market support. “UK public markets need to recognise, cover and return to backing our sector and private momentum must be joined by robust, public sector-managed, investor-advised translational funding,” Molloy said. The lack of IPO activity remains a challenge for biotech companies looking to transition from venture-backed growth businesses into publicly traded organisations. What does this mean for UK biotech? The latest funding figures provide a positive signal for the UK life sciences sector, showing that investor appetite is returning for innovative biotech companies. Strong venture capital flows could help accelerate the development of new medicines, support emerging platforms such as artificial intelligence-driven drug discovery, and strengthen the UK’s role in global pharmaceutical innovation. However, maintaining this momentum will require progress beyond private investment, with improved public market confidence needed to support companies through later stages of growth. For UK biotech, 2026 is shaping up as a year of renewed optimism — but converting funding momentum into long-term industry growth will depend on continued support across the entire innovation ecosystem. Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

The once-daily tablet provides a new oral option for reducing LDL cholesterol in adults with hypercholesterolaemia, including heterozygous familial hypercholesterolaemia. The FDA has approved Lipfendra (enlicitide) as an adjunct to diet and exercise to reduce LDL cholesterol in adults with hypercholesterolaemia, including heterozygous familial hypercholesterolaemia. As the first oral therapy to inhibit PCSK9, Lipfendra expands treatment choice beyond the injectable PCSK9 therapies previously available. Field Content Alert Type Drug Approval Drug Name Lipfendra Indication Reduction of LDL cholesterol in adults with hypercholesterolaemia, including heterozygous familial hypercholesterolaemia Therapy Area(s) Cardiology Geography US (FDA) What Changed The FDA approved Lipfendra (enlicitide) on 16 July 2026 as an adjunct to diet and exercise to reduce LDL cholesterol in adults with hypercholesterolaemia, including heterozygous familial hypercholesterolaemia. It is the first orally administered drug approved to inhibit PCSK9. Clinical Relevance Provides a once-daily oral PCSK9 treatment option for adults requiring LDL-cholesterol reduction, expanding choice beyond injectable PCSK9 therapies. Source Link FDA approval notice. Date 16 July 2026 Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

The spin-out creates a dedicated US oncology company to raise capital and advance Lupin’s PRMT5 and SOS1 programmes through global clinical development. Lupin has granted Kaveri Therapeutics exclusive, perpetual licences to two clinical-stage oncology programmes—LNP7457 and LNP8701—in exchange for an 82.2% equity stake, with the assets valued at $1.6 million. The arrangement is intended to accelerate their development through an independently managed oncology company that will seek external funding for global clinical trials. Field Content Alert Type Deal Companies Lupin Inc., the wholly owned US subsidiary of Lupin Limited, and Kaveri Therapeutics Deal Type Strategic spin-out and exclusive perpetual licensing agreement involving an 82.2% equity stake Asset or Company LNP7457, a PRMT5-targeting programme, and LNP8701, a SOS1-targeting programme Therapy Area(s) Oncology Technology or Modality Targeted small-molecule oncology therapies Deal Value The two licensed programmes were valued at $1.6 million. Lupin received 332,000 common shares representing an 82.2% stake in Kaveri and will also provide seed funding, the amount of which was not disclosed. Development Stage Clinical-stage programmes in early clinical development Geography US-based transaction with planned global clinical development What Happened Lupin granted Kaveri exclusive, perpetual licences to LNP7457 and LNP8701 in exchange for an 82.2% equity stake. The transaction was completed on 20 July 2026, and Kaveri will assume responsibility for advancing the programmes through global clinical trials. Background Kaveri was incorporated in Delaware in May 2026 as a clinical-stage oncology company focused on solid tumours, including lung, pancreatic, ovarian and CNS-related cancers. Lupin reported that LNP7457 and LNP8701 presented positive clinical data at the 2025 and 2026 ASCO meetings, respectively. Strategic Rationale The structure places the two programmes within a dedicated, independently managed oncology company that can raise external capital and focus on global clinical development, while Lupin retains a majority equity interest in their future progress. Why It Matters The deal gives the programmes a specialised development vehicle and access to additional financing without Lupin relinquishing its majority economic interest. It also expands Kaveri’s pipeline across two targeted mechanisms relevant to difficult-to-treat solid tumours. Potential Impact Successful fundraising could support broader global trials and biomarker-driven development of the PRMT5 and SOS1 programmes, although their eventual clinical and commercial value will depend on future trial results. Key Takeaway Lupin is using a majority-owned spin-out to pursue external funding and focused clinical development for two targeted oncology assets. What to Watch Kaveri’s planned capital raise, the design and progression of global clinical trials, future data from both programmes and any additional financing or partnership arrangements. Source Link Lupin regulatory filing and accompanying company press release Deal Date 21 July 2026 Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

The two-year tariff-free window could prompt overseas manufacturers and US importers to reassess production, investment and sourcing before higher duties take effect. President Donald Trump has announced that generic drugs imported into the US will remain subject to a zero tariff for two years from 1 August 2026, followed by a 100% tariff for one year and a 200% tariff thereafter. If formalised, the timetable could materially change the economics of supplying the US generics market and increase pressure on manufacturers to establish domestic production. Field Content Alert Type Industry Update Topic Trade policy and pharmaceutical manufacturing Organisation(s) US administration; President Donald Trump Affected Stakeholders Overseas generic-drug manufacturers, US pharmaceutical importers and companies reliant on imported generic products or ingredients Geography US What Happened Trump announced that imported generic drugs would retain a zero tariff for two years from 1 August 2026. The announced rate would then rise to 100% for one year and 200% thereafter, with the stated aim of encouraging generic-drug manufacturers to build production capacity in the US. The announcement did not itself provide the formal tariff classifications, exemptions or implementation mechanism. Why It Matters The proposed rates could substantially alter manufacturing and sourcing decisions for companies supplying generic medicines to the US. The two-year transition gives affected businesses time to evaluate domestic investment, but the commercial consequences will depend on the final scope and rules. Supporting Context An April 2026 presidential proclamation imposed tariffs on certain patented pharmaceutical products but stated that generic pharmaceuticals, associated ingredients and biosimilars would not be subject to Section 232 tariffs at that time. It also required the Department of Commerce to report within one year on circumstances that might support further action on generic imports. Who Is Most Affected Foreign manufacturers supplying generic medicines to the US face the clearest potential exposure. US importers may need to review suppliers and costs, while domestic manufacturers could gain a stronger incentive to expand capacity. Industry Impact If implemented as announced, the policy could accelerate US manufacturing investment and encourage supply-chain restructuring. Its effect on medicine costs, competition and availability would depend on whether manufacturers can establish sufficient domestic capacity and on any exemptions included in the formal rules. Key Takeaway Generic-drug manufacturers have been given an announced two-year planning window, but formal implementation details will determine which products and companies are ultimately affected. What to Watch A presidential proclamation, Federal Register notice or Department of Commerce guidance confirming the legal basis, covered tariff codes, treatment of active pharmaceutical ingredients and biosimilars, exemptions and criteria for qualifying US investment. Primary Source President Donald Trump’s Truth Social announcement Relevant Date 21 July 2026 Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

The designation supports development of a one-time investigational gene therapy designed to address the underlying genetic cause of a rare form of dilated cardiomyopathy. The FDA has granted orphan drug designation to Affinia Therapeutics’ AFTX-201 for the treatment of BAG3-associated dilated cardiomyopathy. The designation provides development incentives for the investigational AAV gene therapy, which is being studied in the Phase 1/2 UPBEAT trial and has not received marketing approval. Field Content Alert Type Regulatory Designation – Orphan Drug Drug Name AFTX-201 Indication Treatment of BAG3-associated dilated cardiomyopathy Therapy Area(s) Cardiology; Rare disease Geography US (FDA) What Happened Affinia Therapeutics announced on 22 July 2026 that the FDA had granted orphan drug designation to AFTX-201 for BAG3-associated dilated cardiomyopathy. AFTX-201 is an investigational AAV gene therapy designed to deliver a functional BAG3 transgene through a single intravenous infusion; the designation is not a marketing approval. Why It Matters Orphan drug designation provides incentives intended to support development of treatments for rare diseases, including potential tax credits, exemption from certain FDA application fees and seven years of market exclusivity if the product is later approved. It does not establish that AFTX-201 is safe or effective. Supporting Context BAG3-associated dilated cardiomyopathy is caused by genetic changes that reduce BAG3 protein in heart cells and can lead to early-onset progressive heart failure. No approved treatment currently addresses the underlying genetic mechanism, while AFTX-201 is being evaluated in the recruiting Phase 1/2 UPBEAT trial. Key Takeaway The designation provides regulatory and development support for AFTX-201 but does not constitute FDA approval of the therapy. What to Watch Safety, tolerability and preliminary efficacy findings from the UPBEAT trial, together with any subsequent FDA development or review milestones. Primary Source Affinia Therapeutics’ official announcement Relevant Date 22 July 2026 — company announcement date Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

The Series B financing gives Crystalys additional capital to progress its late-stage clinical programme and prepare dotinurad for potential commercialisation. Crystalys Therapeutics has closed an oversubscribed $130 million Series B financing led by Frazier Life Sciences to support the global late-stage development and commercialisation preparation of dotinurad for gout. The investment extends support for two registration-directed Phase 3 trials and a Phase 2 study as the company works towards further clinical, regulatory and commercial-readiness milestones. Field Content Alert Type Deal Companies Crystalys Therapeutics; financing led by Frazier Life Sciences, with participation from Wellington Management, HBM Healthcare Investments, Soleus Capital, Cormorant Asset Management, Trails Edge Capital Partners, Pivotal bioVenture Partners, KCap Biotechnology Fund and existing investors. Deal Type Series B financing Asset or Company Crystalys Therapeutics and its lead candidate, dotinurad Therapy Area(s) Rheumatology; gout Technology or Modality Once-daily oral URAT1 inhibitor Deal Value $130 million in closed Series B financing. Development Stage Phase 3, with two registration-directed studies underway; an additional Phase 2 study is also ongoing. Geography Global clinical development and commercialisation preparation What Happened Crystalys closed an oversubscribed $130 million Series B round led by Frazier Life Sciences. The proceeds will support the RUBY and TOPAZ Phase 3 trials, the Phase 2 AMETHYST study, commercialisation preparation and the company’s operational runway through anticipated clinical and regulatory milestones. Why It Matters The financing provides Crystalys with additional resources to progress dotinurad across a broad gout-development programme while preparing the company for potential regulatory submissions and commercialisation. It also supports continued development of a possible second-line option for patients inadequately served by existing urate-lowering treatments. Supporting Context Dotinurad is already approved in Japan, China, the Philippines, Taiwan and Thailand. Crystalys is developing it as a potential second-line therapy intended to reduce uric acid, gout flares and tophi. Key Takeaway The $130 million financing gives Crystalys further runway to move dotinurad through late-stage development and towards commercial readiness. What to Watch Results from the RUBY, TOPAZ and AMETHYST studies and any subsequent clinical, regulatory or commercialisation milestones. Primary Source Crystalys Therapeutics’ official financing announcement Relevant Date 22 July 2026 Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com

The non-binding recommendation could create a regulated US compounding route for BPC-157, KPV, TB-500 and MOTS-c, but it does not approve the substances as drugs or establish their safety or effectiveness. The FDA’s Pharmacy Compounding Advisory Committee has recommended that BPC-157-, KPV-, TB-500- and MOTS-c-related bulk substances be added to the Section 503A Bulks List after reviewing proposed uses including ulcerative colitis, wound healing, inflammatory conditions, obesity and osteoporosis. The recommendation concerns compounding eligibility only and remains subject to an FDA decision; none of the peptides has received FDA marketing approval through this process. Field Content Alert Type Regulatory Recommendation – Compounding Drug Name BPC-157, KPV, TB-500 and MOTS-c, including the free-base and acetate forms considered by the committee Indication Uses evaluated by the FDA included ulcerative colitis for BPC-157; wound healing and inflammatory conditions for KPV; wound healing for TB-500; and obesity and osteoporosis for MOTS-c. Therapy Area(s) Gastroenterology; inflammation and wound care; metabolic disease; bone health Geography US (FDA) What Happened On 23 July 2026, the FDA’s Pharmacy Compounding Advisory Committee recommended adding four groups of peptide-related bulk substances to the Section 503A Bulks List. The recommendation is advisory and non-binding: the FDA retains responsibility for the final decision, and the vote did not approve the peptides as medicines. Why It Matters Inclusion on the Section 503A Bulks List could allow qualifying licensed pharmacists and physicians to use these bulk substances in individually compounded prescriptions, subject to statutory compounding requirements. It would not provide the safety, efficacy, manufacturing or labelling findings associated with FDA approval of a new drug. Supporting Context FDA briefing materials had proposed that the free-base and acetate forms of all four peptides should not be included on the Section 503A Bulks List. The committee therefore reached a different recommendation after reviewing the available characterisation, safety, effectiveness and historical-use evidence. Key Takeaway The recommendation moves the four peptides closer to possible eligibility for pharmacy compounding but does not make them FDA-approved treatments. What to Watch The FDA’s final decision, any formal rulemaking required to amend the Section 503A Bulks List and any conditions or limitations placed on future inclusion. Primary Source FDA Pharmacy Compounding Advisory Committee meeting materials Relevant Date 23 July 2026 — advisory committee recommendation date Discover how nuaxia can support your next medical education initiative: Find out more about our specialist services - Moore's Outcome Assessments, Educational Needs Assessments and Patient Impact Studies for the Medical Education sector Contact us on: support@nuaxia.com