The Medscape Internist Compensation Report 2026 shows internal medicine remains a foundational, mid-tier earning specialty, with compensation continuing to grow steadily during 2025. Internists reported average compensation of approximately $307,000, with earnings increasing by around 5% year-over-year. While this growth outpaced inflation and the broader physician average, internal medicine continues to sit below many procedural specialties in overall earning power. However, like much of modern medicine, compensation is increasingly shaped by productivity, RVUs, and practice structure rather than tenure alone. The biggest earnings differences are no longer driven by seniority. They are increasingly determined by workload intensity, patient volume, and where and how you practise. Internal medicine compensation continues steady growth The Medscape 2026 data shows internists experienced compensation growth of approximately 5% during 2025. This compares to: ~3% average growth across physicians generally ~2.7% core inflation at end of 2025 In real terms, internal medicine earnings are rising in a meaningful way. However, this growth does not fully close the gap with higher-paying procedural specialties. The key takeaway: Internal medicine is financially stable and improving, but structurally capped relative to surgical and procedural fields. So the more important question becomes: Where do you sit within the internal medicine earnings distribution? Because variation within the specialty is now driven far more by workload and system design than by years of experience. Below the internal medicine earnings range This group sits below the main earnings cluster for internists. This typically reflects: Early-career positions Lower patient volumes Hospital-employed salaried models Limited productivity-linked incentives Reduced RVU generation What this means in real terms: You are still within a strong baseline earning specialty. But your current compensation sits below the main internal medicine distribution. This is often a stage where structure matters more than effort alone. Around the internal medicine earnings range This is where most internists sit. Compensation here is typically driven by: Stable patient panels Standard clinic throughput Mixed salaried + incentive models Moderate RVU contribution Established NHS-equivalent or US hospital systems This represents the functional centre of internal medicine earnings in 2026. In practical terms: Most internists cluster tightly around this level, with relatively narrow variation compared to procedural specialties. Above the internal medicine earnings range This is where earnings begin to separate meaningfully from the median. Higher earners are typically characterised by: High patient volume practices Strong RVU performance Additional leadership or administrative roles Private practice exposure or hybrid models Efficiency-driven workflows At this level, compensation becomes less about specialty and more about output. The Medscape data reinforces this: Productivity is now the dominant driver of upside within internal medicine. 47% of internists feel fairly compensated Despite steady earnings growth, only 47% of internists reported feeling fairly compensated. This remains below what might be expected given income growth. What this means: Compensation level alone does not determine satisfaction. Two internists earning similar salaries may experience very different realities depending on: Workload intensity Administrative burden Staffing support Patient complexity System efficiency Internal medicine remains a high-burnout, high-demand specialty where workload often offsets financial gains. Expectations remain mixed The report shows: 39% expect compensation increases 46% expect flat pay 14% expect pay declines What this means in real terms: The outlook is cautiously stable rather than strongly optimistic. Most internists expect either stability or modest growth. However, a meaningful minority still anticipate pressure on earnings, largely driven by reimbursement constraints. Incentives and RVUs remain central Among internists eligible for bonuses: RVUs and quality metrics are key drivers of incentive pay ~39% now have RVUs influencing base pay (not just bonuses) What this means: Internal medicine is increasingly structured around measurable output. Even base pay is becoming linked to productivity frameworks. This creates: More transparency in earnings Greater upside for high-volume clinicians Wider dispersion across the specialty What this means for you by experience level Early career (0–3 years) At this stage, earnings are primarily determined by employment structure. If you are: Below the range → typical early role with limited RVU exposure Around the range → standard progression into stable clinic workload Above the range → early access to high-volume or incentivised roles Key point: Early earnings are more about system placement than individual performance. Mid-career (4–9 years) This is where divergence begins to emerge. What the report suggests: Most internists cluster around the median Higher earners separate through productivity and efficiency If you are: Below the range → under-utilised or lower throughput role Around the range → typical internal medicine trajectory Above the range → benefiting from strong RVU or panel size Key insight: This is where productivity starts to define earnings differences. Established (10–19 years) At this stage, compensation variation becomes more visible. What the data suggests: Stable middle remains dominant Higher tier emerges for those with productivity leverage or leadership roles If you are: Below the range → limited productivity growth or static role Around the range → standard internal medicine output Above the range → high-efficiency or leadership-enhanced earnings Key point: System design increasingly determines outcomes. Senior (20+ years) At senior level, two paths dominate: Stable earnings with consistent clinical workload Higher earnings through leadership, ownership, or high-output practice The difference is increasingly structural rather than tenure-based. The core message of the 2026 report The Medscape 2026 internal medicine data can be summarised around three anchors: Average compensation: ~$307,000 47% feel fairly compensated 39% expect further earnings growth Taken together, the picture is clear: Internal medicine remains a stable, mid-tier earning specialty with consistent growth. However, compensation outcomes are increasingly determined by productivity and system structure rather than experience alone. Summary If you are an internist reading this report, the key question is not whether earnings are rising. It is: Are you positioned within a system that allows your workload and productivity to translate into fair compensation? Because the 2026 data shows a clear pattern: Internal medicine remains financially stable, but outcomes increasingly depend on volume, efficiency, and practice structure rather than years in practice alone. Source Medscape Internist Compensation Report 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

Late-stage myelofibrosis candidate navtemadlin could reshape treatment for patients with suboptimal responses to Jakafi. Ipsen has agreed to acquire US biotech Kartos Therapeutics in a deal worth up to $1.75 billion, strengthening its late-stage oncology pipeline with navtemadlin (KRT-232), an investigational therapy targeting patients with myelofibrosis who no longer respond adequately to current standard treatment. The acquisition combines an upfront payment of $450 million with up to $1.3 billion in development and commercial milestone payments, highlighting Ipsen's confidence in the asset's long-term potential. Targeting an unmet need in myelofibrosis Myelofibrosis is a rare blood cancer characterised by scarring of the bone marrow, leading to impaired blood cell production, enlarged spleen size and debilitating symptoms. Current treatment is largely centred around Jakafi (ruxolitinib), the JAK inhibitor developed by Incyte. While Jakafi has transformed care for many patients by reducing spleen enlargement and improving symptoms, a significant proportion eventually experience a suboptimal response or discontinue treatment altogether. Navtemadlin has been designed to address this gap. Unlike JAK inhibitors, the oral therapy works by inhibiting MDM2, restoring the activity of the tumour suppressor protein p53 in patients whose cancers retain wild-type TP53. Rather than replacing existing therapy, navtemadlin is being developed as an add-on treatment to improve outcomes for patients whose disease is no longer adequately controlled. Phase III study underway The lead programme is currently being evaluated in the Phase III POIESIS trial, which is enrolling patients with intermediate- and high-risk TP53 wild-type myelofibrosis who have experienced a suboptimal response to Jakafi. Top-line data are expected during 2027. Earlier Phase Ib/II data have provided encouraging signals. Among 19 patients receiving navtemadlin alongside Jakafi: 42% achieved at least a 25% reduction in spleen volume after 24 weeks. 32% achieved the more stringent 35% spleen volume reduction endpoint. 32% experienced at least a 50% improvement in total symptom score. While based on a relatively small patient population, the results suggest the combination could improve outcomes in a setting where treatment options remain limited. Building Ipsen's oncology franchise The acquisition continues Ipsen's strategy of expanding its oncology portfolio through targeted business development. Commenting on the deal, Ipsen CEO David Loew said navtemadlin has the potential to establish "a new treatment paradigm" for patients with myelofibrosis who have an inadequate response to current standard of care, with a potential commercial launch as early as 2028 if development progresses successfully. The transaction also follows Ipsen's acquisition of ImCheck Therapeutics in October 2025, when the company agreed a deal worth up to €1 billion for the experimental immuno-oncology antibody ICT01. What the acquisition means For Ipsen, Kartos represents more than a pipeline expansion. The company is investing in a late-stage asset targeting a clearly defined unmet clinical need within an established treatment market. Rather than competing directly with Jakafi, navtemadlin aims to complement the current standard of care, potentially extending treatment benefit for patients who would otherwise have limited options. If the ongoing Phase III trial confirms the earlier clinical findings, the acquisition could provide Ipsen with an important growth driver in haematological oncology while offering physicians a new therapeutic strategy for managing myelofibrosis beyond first-line JAK inhibition. 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

Acquisition centres on Yupelri COPD franchise while retaining upside through respiratory and legacy pipeline assets. Zymeworks is moving decisively beyond its traditional oncology footprint, agreeing to acquire Theravance Biopharma for approximately $929 million in cash, in a deal designed to broaden its revenue base and accelerate its entry into the chronic obstructive pulmonary disease (COPD) market. The transaction, which includes a contingent value right (CVR) tied to a legacy asset, is expected to close in the second half of 2026. At the centre of the acquisition is Yupelri (revefenacin), a once-daily nebulised long-acting muscarinic antagonist (LAMA) used for maintenance treatment in COPD. The product is already commercially established in the US and provides the foundation for much of Theravance’s near-term revenue profile. A commercial asset at the core Yupelri generated $266.6 million in US sales last year, representing 12% year-on-year growth, and continues to benefit from a relatively protected competitive position. Theravance holds a 35% revenue-sharing interest in the US product, which is co-promoted with Viatris. Importantly, settlement agreements with generic manufacturers mean competition is not expected until 2039, giving the asset a long runway of protected cash flow. In addition to current revenues, Theravance is eligible for: Up to $125 million in milestone payments tied to US sales performance Double-digit tiered royalties on international sales Additional milestones linked to ex-US performance of Yupelri The broader respiratory portfolio also includes exposure to GSK’s Trelegy Ellipta, with Theravance expected to receive a $100 million milestone payment in Q1 2027, alongside royalties from other partnered assets such as Vibativ (telavancin). Strategic shift: from R&D biotech to cash-flow hybrid For Zymeworks, the deal marks a clear pivot towards a more diversified financial model. CEO Kenneth Galbraith said the acquisition would "meaningfully expand and diversify future revenue sources" and deliver an immediate uplift in commercial royalty income. The strategy reflects a broader industry trend: biotechs moving to balance high-risk R&D pipelines with stable, partner-driven cash flows. Rather than relying solely on clinical-stage assets, Zymeworks is now positioning itself as a hybrid business model—combining: Established respiratory royalties Mid-stage and preclinical R&D programmes Externalised non-core assets CVR tied to high-risk neurogenic orthostatic hypotension asset The deal structure also includes a contingent value right (CVR), giving Theravance shareholders entitlement to 80% of proceeds from any future licensing or divestiture of ampreloxetine over the next 10 years. The asset has faced repeated clinical setbacks, most recently failing in the Phase III CYPRESS trial in symptomatic neurogenic orthostatic hypotension. Following the failure, Theravance reduced its workforce and began reviewing strategic options for the programme. Zymeworks will receive the remaining 20% of any future upside. Portfolio rationalisation and tax assets Beyond Yupelri and ampreloxetine, the acquisition includes a preclinical immunology and inflammation pipeline. Zymeworks has indicated it intends to externalise these assets, alongside ampreloxetine, rather than advance them internally. The company will also inherit approximately $2.5 billion in Irish tax attributes, which may be utilised in future to offset taxable income, adding a further layer of long-term financial optionality. Why this deal matters This acquisition is less about pipeline transformation and more about balance sheet engineering and revenue stabilisation. For Zymeworks, Theravance provides: Immediate commercial cash flow via a de-risked respiratory asset Long-dated exclusivity protection in COPD Milestone and royalty upside from adjacent respiratory franchises Optionality from legacy and preclinical assets via externalisation In a sector where many biotechs remain heavily dependent on binary clinical outcomes, this deal signals a shift towards durable income streams layered onto traditional drug development models. If executed successfully, Zymeworks will emerge with a more balanced profile: part R&D innovator, part royalty-driven commercial operator—anchored by one of the more resilient assets in the COPD space. 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 FDA has approved Tregzi, the first regulatory T (Treg) cell-based immunotherapy to improve chronic graft-versus-host disease (GVHD)-free survival in adults with blood cancers undergoing allogeneic stem cell transplantation, marking a major advance in cellular therapy and transplant medicine. The approval is supported by the Phase III PRECISION-T trial, in which Tregzi significantly reduced the incidence of chronic GVHD while nearly doubling one-year GVHD-free survival compared with standard stem cell transplantation. Alert Type Regulatory Approval (FDA) Drug Name Imfinzi (durvalumab) + Bacillus Calmette-Guérin (BCG) Indication BCG-naïve, high-risk non-muscle-invasive bladder cancer (NMIBC) in adults Therapy Area(s) Oncology, Urology, Bladder Cancer, Immuno-oncology Geography United States (FDA approval) What Changed The FDA approved AstraZeneca’s Imfinzi (durvalumab) in combination with BCG induction and maintenance therapy for adults with BCG-naïve, high-risk NMIBC. Based on the Phase III POTOMAC trial, the combination reduced the risk of high-risk disease recurrence, progression, or death by 32% compared with BCG alone, becoming the first approved immunotherapy combination in this setting. Clinical Relevance The approval introduces a new treatment paradigm for high-risk NMIBC by adding immunotherapy to the long-established BCG backbone. The regimen demonstrated durable disease-free survival benefits over more than five years of follow-up while maintaining a manageable safety profile, preserving BCG treatment completion rates, and not negatively affecting patient-reported quality of life. Source Link https://www.globaldata.com/newsletter/details/fda-approves-astrazeneca-s-imfinzi-bcg-combination-for-nmibc-therapy_383859/ Date 1-Jun-2026 Status Draft Notes POTOMAC Phase III data showed a disease-free survival hazard ratio of 0.68 with a median follow-up of 60.7 months. No new safety signals were identified versus the known profiles of Imfinzi and BCG. Regulatory reviews are ongoing in the EU, Japan, and other markets. The approval further expands Imfinzi’s role across the bladder cancer treatment pathway alongside ongoing Phase III programmes including VOLGA, NIAGARA, and NILE. 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 reverse merger will create Nasdaq-listed Cortigent Holdings, providing Vivani's brain-computer interface business with independent funding to accelerate vision restoration and neurorehabilitation technologies. Vivani Medical has agreed to spin out its brain-computer interface (BCI) business through a reverse merger with Nasdaq-listed communications technology company ClearOne, creating a new publicly traded neurotechnology company focused on restoring vision and motor function. Once the transaction closes, expected in the third quarter of 2026, ClearOne will be renamed Cortigent Holdings and will trade on the Nasdaq under the ticker CRGT. The move gives Vivani’s neurotechnology division independent access to public capital while allowing the parent company to concentrate on its long-acting drug implant portfolio. Creating a Standalone Brain-Computer Interface Company Under the agreement, Vivani will receive 12.5 million shares of ClearOne common stock and will own between 59.4% and 67.5% of the combined company, depending on the final financing structure. Existing ClearOne shareholders will retain between 12.7% and 14.4% ownership. Although ClearOne currently develops professional audio and video collaboration systems, that business will become a legacy, non-core operation following completion of the merger as the company shifts its strategic focus towards neurotechnology. Investor enthusiasm was immediate. Following the announcement, ClearOne's share price more than doubled during trading, highlighting growing interest in the brain-computer interface sector. Building a Pipeline Focused on Restoring Vision and Movement The new Cortigent Holdings will inherit a portfolio of implantable neurostimulation technologies targeting significant unmet neurological needs. Its lead programmes include: Orion, a brain-computer interface implant designed to restore functional vision in blind patients. Argus II, a retinal prosthesis intended to provide artificial vision for people living with severe retinitis pigmentosa. The company is also developing a next-generation neurostimulation device designed to help restore arm and hand movement following stroke-related paralysis, expanding its focus beyond vision restoration into neurorehabilitation. These technologies originated from Second Sight Medical before becoming part of Vivani following its merger with Nano Precision Medical in 2022. Funding Future Development Alongside the merger, ClearOne plans to raise between $10 million and $15 million through a share offering to support continued clinical and product development. For Vivani, the transaction also delivers strategic benefits beyond financing. By separating Cortigent into an independent public company, Vivani expects to reduce ongoing investment requirements while sharpening its focus on developing long-acting implantable drug delivery technologies. The structure allows both businesses to pursue distinct growth strategies while maintaining Vivani as the majority shareholder in the new neurotechnology company. Why the Deal Matters The transaction reflects several broader trends emerging across healthcare innovation: Brain-computer interface technologies are attracting increasing commercial and investor interest. Companies are using reverse mergers to access public markets more quickly than through traditional IPOs. Neurotechnology developers are expanding beyond research into commercially focused clinical pipelines. Investors are showing growing confidence in implantable devices targeting neurological disorders and rehabilitation. The market opportunity is substantial. Industry forecasts project the global neurology devices market to exceed $25 billion by 2034, while some analysts estimate the long-term addressable market for healthcare-focused brain-computer interfaces could eventually reach hundreds of billions of dollars as the technology matures. Summary Vivani Medical has agreed to merge its Cortigent neurotechnology business with ClearOne, creating a new publicly listed company dedicated to brain-computer interface technologies. The transaction provides Cortigent with independent access to public markets while enabling Vivani to focus on its core drug delivery platform. As investment and clinical development accelerate across neurotechnology, the deal highlights the growing commercial momentum behind brain-computer interfaces aimed at restoring vision, movement and neurological function. 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 decision makes Itvisma the first and only gene replacement therapy approved in the EU for older children, teenagers and adults living with 5q spinal muscular atrophy. The European Commission has approved Novartis' Itvisma (onasemnogene abeparvovec) for the treatment of older children, teenagers and adults with 5q spinal muscular atrophy (SMA) who have a bi-allelic mutation in the survival motor neuron 1 (SMN1) gene. The approval significantly expands access to gene replacement therapy within Europe, making Itvisma the only approved treatment of its kind for this broader patient population. Expanding Access Beyond Early Childhood Spinal muscular atrophy is a rare genetic neuromuscular disorder caused by mutations in the SMN1 gene, resulting in insufficient production of survival motor neuron protein and progressive muscle weakness. Until now, gene replacement therapies have largely been focused on younger patients. The European Commission's decision extends access to older children, adolescents and adults, addressing a long-standing unmet need for patients who previously had limited treatment options. Itvisma delivers a functional copy of the SMN1 gene through a single fixed-dose intrathecal injection, eliminating the need for ongoing dosing adjustments based on age or body weight. Clinical Evidence Supports Approval The approval is supported by data from three clinical studies: STEER Phase IIIb STRENGTH Phase I/II STRONG The registrational STEER study demonstrated a statistically significant improvement of 2.39 points on the Hammersmith Functional Motor Scale, with benefits maintained throughout a 52-week follow-up period. Both the STEER and STRENGTH studies also showed clinically meaningful improvements in motor function across both treatment-naïve patients and those who had previously received SMA therapies. These findings helped demonstrate that gene replacement therapy may provide meaningful functional benefits beyond the early stages of the disease. A Milestone for Gene Therapy in SMA Novartis believes the expanded indication represents an important step forward in broadening access to one-time gene replacement therapy. The company said the approval has the potential to address significant unmet needs among older SMA patients who have historically had fewer therapeutic options than younger children. As with any gene therapy, treatment is associated with potential side effects. The most commonly reported adverse events include upper respiratory tract infection, fever, vomiting, headache and elevated liver enzymes. Strengthening Novartis' Rare Disease Portfolio The approval further reinforces Novartis' position in rare genetic diseases and gene therapy. The company holds exclusive global licences covering both intravenous and intrathecal delivery of AAV9-based gene therapies for spinal muscular atrophy, positioning it as one of the leading developers in this space. Gene therapies continue to reshape the treatment landscape for inherited neurological disorders by offering the potential for long-lasting therapeutic benefit following a single administration. Summary The European Commission has approved Novartis' Itvisma for older children, teenagers and adults with 5q spinal muscular atrophy, making it the first gene replacement therapy authorised for this wider patient population within the EU. Supported by positive clinical data across multiple studies, the approval expands treatment options for patients with SMA while reinforcing the growing role of one-time gene therapies in managing rare neurological diseases. 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 acquisition adds first-in-class BK polyomavirus candidate potravitug as Ipsen continues an aggressive week of dealmaking following its Kartos Therapeutics takeover. Ipsen has agreed to acquire Swiss rare disease biotech Memo Therapeutics in a deal worth more than €700 million, adding a promising late-stage rare disease programme to its pipeline and continuing its recent acquisition drive. The transaction follows just days after Ipsen announced its $1.75 billion acquisition of Kartos Therapeutics, signalling an increasingly active business development strategy focused on high-value specialist medicines. A Potential First-in-Class Therapy for Kidney Transplant Patients The centrepiece of the acquisition is potravitug, Memo's lead clinical asset targeting BK polyomavirus-associated nephropathy (BKPyVAN). BKPyVAN is a serious complication that can develop in kidney transplant recipients when the normally dormant BK virus reactivates as a result of immunosuppressive therapy. Current treatment options are limited, with clinicians often forced to reduce immunosuppressive medication to control the virus, increasing the risk of transplant rejection and long-term graft loss. Potravitug has been designed to address this unmet need by targeting the virus directly. The monoclonal antibody binds to the VP1 capsid protein, preventing the virus from attaching to and entering healthy cells, with the aim of stopping viral replication before kidney damage occurs. Late-Stage Development Underway Memo plans to launch its pivotal SAFE KIDNEY III Phase III trial later this year. The programme builds on encouraging results from the earlier SAFE Kidney II study, where potravitug enabled significantly more patients to achieve low or undetectable viral loads compared with placebo. If successful, the therapy could become the first targeted treatment approved specifically for BKPyVAN, representing a significant advance for kidney transplant care. The candidate has already received both Fast Track designation from the US Food and Drug Administration and Orphan Drug designation in both the US and Europe. Deal Structure Reflects Confidence in Future Success Under the agreement, Ipsen will pay €200 million upfront when the transaction closes, which is expected during the third quarter of 2026. Memo shareholders could receive more than €700 million in additional milestone payments linked to the programme's clinical development, regulatory approvals and future commercial performance. The heavily milestone-based structure allows Ipsen to limit upfront risk while providing substantial upside if potravitug reaches the market. Building Momentum Through Targeted Acquisitions The Memo acquisition follows Ipsen's purchase of Kartos Therapeutics, which added Phase III myelofibrosis candidate navtemadlin to its oncology pipeline. Together, the two acquisitions demonstrate Ipsen's strategy of acquiring advanced clinical-stage assets capable of delivering near- to medium-term growth across specialist therapeutic areas. Rather than pursuing broad portfolio expansion, the company continues to focus on targeted acquisitions addressing diseases with significant unmet clinical need. Summary Ipsen has agreed to acquire Memo Therapeutics in a deal worth more than €700 million, strengthening its rare disease pipeline with the addition of potravitug, a potential first-in-class therapy for BK polyomavirus-associated nephropathy. Combined with its recent acquisition of Kartos Therapeutics, the transaction highlights Ipsen's growing focus on late-stage, high-value assets that could address significant unmet medical needs while supporting the company's long-term growth strategy. 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 agreement will deploy Insilico’s Pharma AI platform across Takeda’s pipeline to accelerate early-stage drug discovery and candidate selection. Insilico Medicine has entered into a strategic collaboration with Takeda to apply its AI-driven Pharma.AI platform across the discovery and development of new drug candidates, marking another major partnership in the growing field of generative AI in pharma. The deal could be worth up to $600 million in total payments, including upfront fees, development milestones, and potential commercial royalties. AI Takes a Central Role in Early Drug Discovery Under the agreement, Insilico Medicine will lead early-stage discovery efforts using its AI platform to identify and design molecules that meet predefined scientific and development criteria. The Pharma.AI system integrates generative AI models to accelerate the identification of drug candidates, with the aim of improving both the speed and precision of early-stage research. Takeda will be responsible for advancing selected candidates into clinical development, leveraging its global infrastructure for clinical validation and late-stage drug development. The collaboration focuses on identifying molecules with strong potential for differentiation across Takeda’s key therapeutic areas, including conditions with high unmet medical need. Structuring a Multi-Layered Value Agreement Insilico will receive approximately $60 million in upfront and near-term payments tied to project initiation and early milestones. Beyond this, the agreement includes a series of potential payments linked to preclinical, clinical, regulatory, and commercial achievements, which could increase the total deal value to around $600 million. The company is also eligible to receive tiered royalties on future product sales, providing additional long-term upside if any candidates reach the market. Takeda will retain exclusive global rights to develop, manufacture, and commercialise any therapeutics emerging from the collaboration. Building on a Broader AI Expansion Strategy For Insilico Medicine, the partnership adds to a growing portfolio of collaborations with major pharmaceutical companies as AI becomes increasingly embedded in drug discovery workflows. Earlier this year, the company announced multiple collaborations with China Medical System (CMS) across central nervous system and autoimmune disease programmes, further expanding its global footprint in AI-enabled drug development. Takeda, meanwhile, continues to deepen its investment in advanced computational approaches, integrating AI technologies into its broader research strategy as competition in drug discovery accelerates. Leadership Perspective Insilico Medicine founder, CEO and CBO Alex Zhavoronkov said the partnership reflects the growing integration of generative AI across the pharmaceutical value chain. He highlighted the potential for AI-driven drug discovery to improve both the quality and differentiation of future therapeutics, describing it as a step toward more advanced, data-driven pharmaceutical innovation. Summary Insilico Medicine and Takeda have formed a strategic partnership worth up to $600 million to apply AI-driven drug discovery across early-stage research programmes. The collaboration will combine Insilico’s Pharma.AI platform with Takeda’s global clinical development capabilities, reflecting the increasing role of generative AI in reshaping how new medicines are discovered and developed. 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

Funding will support the global SURPASS-IPF trial comparing deupirfenidone directly against standard-of-care pirfenidone in idiopathic pulmonary fibrosis. Celea Therapeutics has raised $180 million in new financing to support the initiation of its pivotal Phase III SURPASS-IPF clinical trial evaluating deupirfenidone (LYT-100) in idiopathic pulmonary fibrosis (IPF). The funding round brings together a consortium of investors including RA Capital Management, PureTech Health, Leaps by Bayer, a major US healthcare fund, and a sovereign wealth fund, reflecting strong confidence in the programme’s late-stage potential. Advancing a Next-Generation Antifibrotic Therapy Deupirfenidone is a deuterated form of pirfenidone, designed to improve tolerability and pharmacokinetics compared with existing antifibrotic therapies. It is being developed as a potential new standard of care for IPF, a progressive and fatal lung disease characterised by irreversible fibrosis and declining respiratory function. Currently approved treatments, including pirfenidone and nintedanib, can slow disease progression but are often limited by gastrointestinal side effects and suboptimal dosing adherence. Phase III Trial to Compare Directly Against Standard of Care The upcoming SURPASS-IPF Phase III trial is expected to begin in early Q3 2026. It will be a randomised, double-blind, head-to-head global study, comparing: Deupirfenidone 825mg three times daily (TID) vs Pirfenidone 801mg three times daily (TID) The study will enrol adults with IPF who are not receiving background antifibrotic therapy. The primary endpoint will measure change from baseline in absolute forced vital capacity (FVC) at week 52, a key indicator of lung function decline. Clinical Rationale and Early Data Deupirfenidone has already received Orphan Drug Designation from both the US Food and Drug Administration and the European Commission. Earlier data from the Phase IIb ELEVATE IPF trial suggested the therapy may stabilise lung function decline over at least 26 weeks when used as monotherapy. Open-label extension results further indicated that treatment effects could be sustained for at least 52 weeks, supporting progression into late-stage development. Leadership Perspective Celea Therapeutics CEO Sven Dethlefs said the funding represents a critical step in addressing a disease with significant unmet need. He noted that IPF remains a devastating condition with limited treatment options and highlighted the potential for deupirfenidone to deliver meaningful improvements in patient outcomes. Expanding Potential Beyond IPF Beyond idiopathic pulmonary fibrosis, Celea is also exploring the potential of deupirfenidone in other fibrotic conditions, including progressive fibrosing interstitial lung diseases, suggesting a broader future development strategy. Summary Celea Therapeutics has secured $180 million to advance its Phase III SURPASS-IPF trial evaluating deupirfenidone in idiopathic pulmonary fibrosis. The head-to-head study against pirfenidone will begin in early Q3 2026 and represents a key step in determining whether the next-generation antifibrotic can redefine treatment standards in a disease with limited therapeutic options. 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 collaboration will integrate manufacturing, clinical research, and commercial readiness services to support late-stage development of a next-generation mRNA therapy. Thermo Fisher Scientific has entered into a strategic collaboration with Arcturus Therapeutics to support the Phase III development and potential commercialisation of ARCT-032, an investigational messenger RNA (mRNA) therapy for cystic fibrosis. The agreement brings together clinical development, manufacturing, and commercial infrastructure under Thermo Fisher’s Accelerator Drug Development platform, aiming to streamline the transition from late-stage trials to potential market launch. Integrated Support for Late-Stage mRNA Development Under the terms of the collaboration, Thermo Fisher will provide a fully integrated set of services, including: Clinical trial execution through its PPD clinical research business Manufacturing support for investigational and potential commercial supply Commercial readiness planning to prepare for potential market entry The partnership is designed to support ARCT-032 through Phase III development, contingent on positive outcomes from ongoing Phase II studies. If the programme progresses successfully, Arcturus intends to conduct its Phase III clinical trials in collaboration with Thermo Fisher’s global clinical research infrastructure. Positioning for Potential Commercial Launch Beyond clinical development, the agreement also includes provisions for future commercial manufacturing rights. Subject to regulatory approval, Thermo Fisher could obtain exclusive manufacturing responsibilities for ARCT-032 under a separate commercial arrangement, ensuring continuity from clinical supply through to potential market production. This structure reflects a growing industry trend toward end-to-end partnerships that reduce operational fragmentation and accelerate timelines for complex modalities such as mRNA therapeutics. Advancing a Next-Generation Cystic Fibrosis Therapy ARCT-032 is an investigational mRNA-based therapy designed to address cystic fibrosis, a genetic condition characterised by progressive lung damage and chronic respiratory complications. mRNA-based approaches aim to restore or replace defective protein function at the cellular level, representing a rapidly evolving area of genetic medicine with potential applications across a range of rare diseases. Leadership Perspectives on the Collaboration Arcturus Therapeutics president and CEO Joseph Payne highlighted Thermo Fisher’s expertise in supporting complex biologic programmes from late-stage development through commercialisation. He noted that the collaboration aligns with Arcturus’ goal of advancing its cystic fibrosis programme efficiently into Phase III while preparing for potential large-scale supply requirements. Thermo Fisher Biopharma Services executive vice-president Mike Shafer said biopharma companies are increasingly seeking integrated partners capable of managing both clinical and commercial complexities. He emphasised that the Accelerator Drug Development model brings together manufacturing and clinical expertise to simplify development pathways and accelerate delivery of innovative therapies to patients. Expanding Role of Integrated Development Platforms The collaboration reflects a broader shift in how advanced therapies are developed, with companies increasingly relying on integrated service providers to reduce operational complexity. Thermo Fisher’s approach combines contract development and manufacturing organisation (CDMO) capabilities with global clinical trial infrastructure, positioning it as a single partner across multiple stages of drug development. Summary Thermo Fisher and Arcturus Therapeutics have formed a strategic collaboration to support the Phase III development of ARCT-032, an mRNA therapy for cystic fibrosis. The partnership integrates clinical research, manufacturing, and commercial readiness services, reflecting a growing industry trend toward end-to-end development models for complex genetic medicines. 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 in vivo gene editing biotech has announced IPO plans as it pushes its lead PCSK9 programme into first-in-human trials. Scribe Therapeutics has announced plans for an initial public offering on the Nasdaq, marking a significant step for the CRISPR-focused biotech as it transitions from platform development into early clinical execution. The company did not disclose pricing terms for the proposed share sale, which will serve as an early test of investor appetite for pre-commercial gene editing platforms. A More Crowded IPO Window in 2026 The announcement comes during a resurgence in biotech IPO activity in 2026, with several high-profile listings from companies such as Parabilis Medicines, Kailera Therapeutics, Generate:Biomedicines, and Kardigan. However, most of those entrants are backed by later-stage clinical assets. Scribe’s IPO is notable for arriving at a comparatively earlier stage of development, with its lead programme only recently cleared to enter human trials. Building In Vivo CRISPR Therapies Founded in 2017, Scribe Therapeutics is focused on developing engineered in vivo CRISPR-based genetic medicines designed for durable therapeutic effects without permanent DNA alteration. Its lead programme, STX-1150, is being developed for hypercholesterolaemia and targets the PCSK9 gene, a key regulator of LDL cholesterol levels. The therapy combines: mRNA encoding a highly engineered epigenetic long-term X-repressor (ELXR) A single guide RNA targeting PCSK9 A liver-targeted lipid nanoparticle delivery system The goal is a single-dose treatment that epigenetically silences PCSK9 in liver cells, potentially delivering long-term LDL-C reduction without permanent genome modification. First-in-Human Trials Underway In May 2026, Scribe received clearance from the Australian Therapeutic Goods Administration to begin a Phase I clinical trial of STX-1150. The study will evaluate up to 64 adults with elevated LDL cholesterol and increased cardiovascular risk, with trial sites across Australia and New Zealand. The company’s broader pipeline includes: STX-1200 for elevated lipoprotein(a) STX-1400 for severe hypertriglyceridaemia and familial chylomicronaemia syndrome IPO Funding to Expand Pipeline Proceeds from the planned IPO are expected to support advancement of STX-1150 into later-stage development, as well as continued investment in earlier pipeline assets and CRISPR platform expansion. The funding will also help accelerate Scribe’s broader ambition to build a diversified portfolio of in vivo gene editing therapies targeting cardiometabolic disease. Strategic Partnerships Strengthen Platform Reach Alongside internal development, Scribe has established multiple partnerships with major pharmaceutical companies. These include collaborations with Eli Lilly, focused on applying its CRISPR X-Editing (XE) technologies to neurological and neuromuscular disorders, as well as two separate agreements with Sanofi, the most recent of which explores in vivo genetic medicines including potential applications in sickle cell disease. Summary Scribe Therapeutics has announced plans to list on the Nasdaq as it advances its CRISPR-based gene editing pipeline into clinical development. With its lead PCSK9-targeting programme now in Phase I trials and multiple cardiometabolic and genetic disease assets in development, the IPO will test investor confidence in early-stage in vivo gene editing platforms amid a renewed wave of biotech public offerings. 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 acquisition adds a novel antibody-drug conjugate payload platform and two preclinical oncology programmes targeting hard-to-treat solid tumours. Novartis has agreed to acquire UK-based biotechnology company Myricx Bio in a deal worth up to $1.5 billion, further expanding its oncology portfolio and strengthening its position in the rapidly growing antibody-drug conjugate (ADC) market. The acquisition includes Myricx’s proprietary N-myristoyltransferase inhibitor (NMTi) payload platform, alongside two lead preclinical ADC programmes targeting B7-H3 and HER2 for the treatment of solid tumours. The transaction is expected to complete later this year. Expanding the Next Generation of ADC Payloads Rather than focusing solely on new tumour targets, the acquisition centres on payload innovation—the cancer-killing component carried by an antibody-drug conjugate. Myricx has developed a new class of N-myristoyltransferase inhibitor (NMTi) payloads, designed to block an enzyme that plays a critical role in protein function and cancer cell survival. By inhibiting NMT, the payload disrupts multiple biological processes required for tumour growth, offering a differentiated mechanism compared with traditional ADC payloads. Preclinical studies have demonstrated promising activity across solid tumours, including models resistant to topoisomerase I (TOPO-1) inhibitors, one of the most widely used ADC payload classes today. Strengthening Novartis' Oncology Strategy The acquisition reflects Novartis' continued investment in oncology and its ambition to expand beyond established ADC technologies. The deal brings two lead preclinical candidates into the company's pipeline: A B7-H3-targeted ADC A HER2-targeted ADC Both programmes are designed to exploit Myricx's proprietary NMTi payload technology, potentially broadening treatment options for patients with difficult-to-treat solid tumours. Novartis believes novel payload mechanisms will be essential for overcoming resistance and extending the effectiveness of ADC therapies into new cancer settings. Deal Structure Under the terms of the agreement: $1.1 billion will be paid upfront. Myricx shareholders are eligible for up to $400 million in additional development and commercial milestone payments. The transaction represents another significant investment in oncology innovation, with total deal value reaching $1.5 billion. From Academic Spin-Out to Billion-Dollar Acquisition Founded in 2020, Myricx Bio emerged as a spin-out from Imperial College London and the Francis Crick Institute. The company secured a £90 million ($114 million) Series A financing in 2024, attracting backing from leading healthcare investors including Novo Holdings, Eli Lilly, and Sofinnova Partners. The biotech appointed Mohit Rawat as CEO in September 2025 as it advanced its ADC platform towards clinical development. Why the Deal Matters The acquisition reflects several wider trends across oncology drug development: Pharmaceutical companies are investing heavily in next-generation ADC technologies. Innovation is increasingly shifting beyond antibody targets to include novel payload mechanisms. Companies are seeking new approaches to overcome treatment resistance in solid tumours. Platform acquisitions continue to attract significant premiums as competition for differentiated oncology technologies intensifies. Summary Novartis has agreed to acquire Myricx Bio in a deal worth up to $1.5 billion, adding a novel ADC payload platform and two preclinical cancer programmes to its oncology pipeline. By investing in differentiated payload technology rather than traditional ADC approaches alone, Novartis is positioning itself to address treatment resistance and broaden the future application of antibody-drug conjugates across multiple solid tumour indications. 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