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

Funding round will support development of lead targeted alpha therapy ADVC001 in metastatic prostate cancer and expand Lead-212 manufacturing capabilities. AdvanCell has raised $315 million in a Series D financing round backed by major pharmaceutical players including Sanofi and Eli Lilly, as the radiopharmaceutical developer advances its targeted alpha therapy pipeline towards late-stage clinical development. The financing, led by Ally Bridge Group and co-led by Alpha Wave, will support the continued development of AdvanCell’s lead programme, ADVC001, a Lead-212-based radiopharmaceutical currently being evaluated in metastatic prostate cancer. The latest investment builds on growing industry confidence in AdvanCell’s approach to targeted alpha therapies, following Sanofi’s venture arm co-leading the company’s $112 million Series C financing in 2025. The move also follows a strategic collaboration announced between AdvanCell and Lilly, combining AdvanCell’s Lead-212 production capabilities and radionuclide infrastructure with Lilly’s drug development expertise to accelerate the development of targeted alpha therapies. Advancing a New Generation of Radiopharmaceuticals Radiopharmaceuticals have emerged as a major area of oncology investment, using radioactive isotopes attached to targeting molecules to selectively deliver cancer-killing radiation directly to tumour cells. AdvanCell’s technology platform is focused on the scalable and automated production of Lead-212, a promising isotope for targeted alpha therapy applications. The company’s lead candidate, ADVC001, is a Lead-212 PSMA-targeted alpha therapy designed for patients with metastatic prostate cancer. The therapy is currently being evaluated in a Phase II clinical trial, with the latest funding expected to support progression towards Phase III development. AdvanCell is also using the financing to expand its isotope manufacturing infrastructure in the US, addressing one of the key challenges facing the broader radiopharmaceutical sector: reliable, scalable production capacity. Targeting Challenges in Existing Radioligand Therapies Current PSMA-targeted radioligand therapies have demonstrated clinical benefits in prostate cancer, but challenges remain around treatment resistance, tolerability and optimising dosing strategies. AdvanCell believes targeted alpha therapy could help address some of these limitations by delivering highly potent radiation directly to cancer cells while reducing exposure to surrounding healthy tissue. The company’s approach uses Lead-212, which releases alpha particles capable of causing significant tumour cell damage over a short range. This targeted mechanism could potentially improve the therapeutic window compared with broader radiation approaches. Pharma Interest in Radiopharmaceutical Infrastructure The latest financing highlights increasing pharmaceutical interest in radiopharmaceutical platforms, particularly those with the manufacturing capabilities required to support commercial-scale development. “The most enduring healthcare companies combine breakthrough science with the infrastructure and expertise to repeatedly develop new medicines,” said Nik Economopoulos, director of life sciences investments at Alpha Wave. “We believe AdvanCell is building that kind of generational company, with the platform, manufacturing capabilities and pipeline to unlock the full potential of targeted alpha therapies.” Expanding Investor Support Alongside Sanofi and Lilly, the Series D financing included participation from new investors including Bain Capital Life Sciences, Fidelity Management & Research Company, T. Rowe Price Associates, Eventide Asset Management and Velosity Capital. Existing investors including Morningside, SV Health Investors, Abingworth, SymBiosis, Tenmile, Brandon Capital, Piper Heartland, Catalio Capital Management, Proto Axiom and Time BioVentures also participated. With ADVC001 approaching later-stage development and investment accelerating across the radiopharmaceutical landscape, AdvanCell is positioning itself at the intersection of oncology innovation and critical manufacturing infrastructure. The company’s progress reflects a wider industry shift towards precision cancer therapies designed not only around new biological targets, but also around the ability to manufacture and deliver increasingly complex treatments at scale. 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 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 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 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

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 new funding will accelerate manufacturing and commercial deployment of the FDA-cleared Marie system, which reimagines proton therapy by rotating the patient instead of the treatment machine. Leo Cancer Care has secured $65 million in Series D financing to expand manufacturing and commercial deployment of its Marie upright radiotherapy platform, following growing interest in the company's patient-centred approach to cancer treatment. The oversubscribed funding round was led by Yu Galaxy and included participation from new investor Eventide Asset Management, alongside existing shareholders. Funding to Accelerate Commercial Growth The latest investment follows Leo Cancer Care's $40 million fundraising completed in September 2025. According to the company, the new capital will be used to: Expand manufacturing capacity. Accelerate commercial deployment of the Marie platform. Support ongoing clinical research and product development. Advance its broader upright radiotherapy strategy across proton therapy, photon therapy and medical imaging. Rethinking Radiotherapy Delivery At the centre of Leo's technology is Marie, an integrated upright patient positioning system and CT scanner designed for proton therapy. Unlike conventional radiotherapy systems, where a large gantry rotates around a patient lying flat, Marie keeps the treatment equipment fixed while rotating the patient into the required treatment position. The company believes this upright approach can improve anatomical consistency and organ stability during treatment, potentially enhancing treatment precision while simplifying system design. Building Momentum Following FDA Clearance Marie received US Food and Drug Administration (FDA) 510(k) clearance in July 2025. Since then, the platform has attracted growing interest from leading cancer centres. In June, the system was used during the world's first compact upright proton therapy treatment at Stanford Medicine Cancer Center, demonstrating the clinical feasibility of the company's novel treatment approach. The milestone marked an important step towards broader adoption of upright proton therapy in clinical practice. Expanding Access to Advanced Cancer Care Leo Cancer Care says its long-term strategy is to redesign radiotherapy around the patient rather than the treatment machine. The company believes upright treatment systems could make advanced cancer therapies more accessible by reducing infrastructure requirements while maintaining treatment quality. Alongside the financing announcement, Leo also revealed it is preparing to announce a strategic partnership with a major international healthcare company, with further details expected in the coming weeks. Why the Funding Matters The investment reflects several important trends across radiation oncology: Companies are exploring new treatment workflows that improve both patient experience and operational efficiency. Proton therapy continues to expand beyond specialist centres through more compact technologies. Innovation is increasingly focused on improving access to advanced radiotherapy rather than simply reducing equipment costs. Investors remain supportive of technologies that could reshape cancer treatment delivery. Summary Leo Cancer Care has raised $65 million to accelerate commercial rollout of its FDA-cleared Marie upright radiotherapy platform. The funding will support manufacturing expansion, clinical development and broader deployment of a system designed to transform proton therapy by rotating the patient rather than the treatment machine, as interest in upright cancer treatment continues to grow. 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 with Sino Biopharmaceutical gives AstraZeneca ex-China rights to TQC3721, an experimental dual PDE3/4 inhibitor being developed for chronic respiratory diseases. AstraZeneca has entered into a new collaboration with China’s Sino Biopharmaceutical focused on the development of TQC3721, an experimental respiratory therapy that could be worth up to $2.1 billion in upfront, milestone and royalty payments. The agreement continues AstraZeneca’s recent run of strategic partnerships in China and highlights the growing importance of Chinese biopharma companies as sources of innovative pipeline assets for multinational drugmakers. Deal Terms and Scope Under the agreement, AstraZeneca will pay Sino Biopharmaceutical $200 million upfront for exclusive rights to develop, manufacture and commercialise TQC3721 outside China. Sino is eligible to receive up to $1.9 billion in additional development and commercial milestone payments, alongside tiered sales royalties that may reach double-digit percentages. AstraZeneca will also gain exclusive global rights to certain future development programmes related to the therapy. A Dual PDE3/4 Approach for Respiratory Disease TQC3721 is designed to inhibit both phosphodiesterase 3 (PDE3) and phosphodiesterase 4 (PDE4), a mechanism intended to combine bronchodilatory and anti-inflammatory effects. According to Sino Biopharmaceutical, the therapy has the potential to improve lung function, reduce exacerbations and address broader disease burden in patients with chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD). A nebulised formulation of TQC3721 demonstrated what the company described as a “potential best-in-class profile” in a Phase IIb study in COPD. The nebulised version is currently being evaluated in a Phase III study in China, while a dry-powder inhaler formulation is also being advanced in a Phase II clinical trial. Accelerating Global Development Sino Biopharmaceutical said the partnership with AstraZeneca is expected to accelerate the global clinical development of TQC3721 and maximise the therapy’s clinical and commercial potential. For AstraZeneca, the deal strengthens its respiratory pipeline by adding a late-stage Chinese asset with potential applications in chronic respiratory disease management. The collaboration also reflects a broader strategy of sourcing innovative medicines from China for development and commercialisation in international markets. Part of a Wider China Strategy The TQC3721 agreement is AstraZeneca’s latest collaboration with a Chinese pharmaceutical company. Just days earlier, the company expanded its relationship with CSPC Pharmaceutical through a deal focused on siRNA drug discovery for renal diseases, with potential milestone payments approaching $1.8 billion. AstraZeneca has built a particularly active partnership network in China, including multiple agreements with CSPC Pharmaceutical since 2024, spanning renal disease, obesity, type 2 diabetes and other therapeutic areas. Sino Biopharmaceutical’s Growing Global Role The AstraZeneca agreement marks Sino Biopharmaceutical’s second major out-licensing deal with a multinational pharmaceutical company in 2026, following an earlier agreement with Sanofi involving the experimental oral JAK/ROCK inhibitor rovadicitinib. The company also announced an expansion of its collaboration with GSK to commercialise the respiratory therapies Trelegy Ellipta and Anoro Ellipta in China through its Chia Tai Tianqing Pharmaceutical unit. These parallel agreements underscore Sino Biopharmaceutical’s dual strategy of out-licensing innovative pipeline assets globally while leveraging its commercial infrastructure to expand access to established respiratory therapies within China. Strategic Implications The deal highlights several trends shaping the pharmaceutical industry: Chinese biopharma companies are becoming increasingly important sources of innovative drug candidates. Multinational pharmaceutical companies are using partnerships to access regional innovation and accelerate global development. Respiratory disease remains a significant area of unmet medical need and commercial opportunity. China is playing a growing role not only as a market for commercialised medicines but also as a contributor to global drug discovery and development. Summary AstraZeneca has secured exclusive rights outside China to develop and commercialise Sino Biopharmaceutical’s experimental respiratory therapy TQC3721 in a deal worth up to $2.1 billion. The agreement adds a dual PDE3/4 inhibitor programme to AstraZeneca’s respiratory pipeline and reinforces the company’s expanding strategy of partnering with Chinese biopharma firms to access innovative medicines for global markets. 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

Kardigan has made a strong public market entrance, with shares jumping more than 37% on its first day of trading following a $400 million initial public offering that underscores continued investor appetite for biotech listings. The cardiovascular-focused company upsized its IPO ahead of pricing, ultimately selling 25 million shares at $16 each, the top end of its revised range. The offering had initially targeted 23.3 million shares priced between $14 and $16. The debut places Kardigan among the largest biotech IPOs of 2026 so far, tied for third alongside Generate:Biomedicines. It follows closely behind Parabilis Medicines, which raised $670 million, and Kailera Therapeutics, which raised $625 million in earlier listings this year. Strong First-Day Performance Signals Continued Biotech Risk Appetite The sharp first-day gain reflects sustained investor demand for differentiated biotech assets despite a volatile funding environment. Public market enthusiasm has been particularly concentrated in companies with clearly defined therapeutic areas and late-stage or de-risked clinical programmes, with cardiovascular disease emerging as a notable area of interest alongside oncology and obesity. Kardigan’s listing adds further momentum to what has already been a record-setting year for biotech IPO activity. Pipeline Built Around Cardiovascular Disease Mechanisms Proceeds from the IPO will be used to advance Kardigan’s pipeline of therapies targeting the underlying mechanisms of cardiovascular disease. The company’s lead asset, danicamtiv, was in-licensed from Bristol Myers Squibb and is currently being evaluated in the Phase IIb/III KINSHIP-DCM study in patients with genetic dilated cardiomyopathy associated with MYH7 and TTN mutations. Danicamtiv sits at the centre of Kardigan’s strategy to address inherited and mechanistic drivers of cardiac dysfunction rather than symptom management alone. The company is also developing ataciguat, an oral soluble guanylate cyclase activator, currently in a Phase IIb study for calcific aortic valve stenosis under the KATALYST-AV trial. A third programme, tonlamarsen, is a liver-directed antisense oligonucleotide in Phase II development for severe hypertension following hospitalisation in the KARDINAL-ASH study. Each asset targets distinct but interconnected cardiovascular pathways, reflecting a broader industry shift toward mechanism-based approaches in cardiometabolic disease. IPO Market Continues to Favour Defined Clinical Narratives Kardigan’s successful debut adds to a growing pattern in biotech public offerings, where investor attention has increasingly gravitated toward companies with clear mechanistic hypotheses and focused disease areas. Cardiovascular disease, long considered a challenging but high-value therapeutic area, is seeing renewed interest as genetic insights and precision medicine approaches reshape development strategies. The strong IPO performance suggests that, despite broader market uncertainty, capital remains available for companies with credible clinical differentiation and defined late-stage assets. A Strong Start, but Clinical Execution Now in Focus While the IPO marks a successful entry into public markets, Kardigan now faces the next phase of scrutiny as it advances its clinical programmes toward key data readouts. The company’s ability to translate its mechanistic pipeline into clinical and regulatory success will ultimately determine whether early investor enthusiasm is sustained beyond the initial trading momentum. 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

KARL STORZ has received US Food and Drug Administration (FDA) clearance for its RUBINA Lens exoscope, enabling the company to bring its near-infrared (NIR) fluorescence imaging technology into open surgical procedures. The approval extends the reach of KARL STORZ’s imaging ecosystem beyond minimally invasive surgery, allowing surgeons to access real-time fluorescence visualisation during a wider range of operations without requiring major changes to existing operating room infrastructure. Bringing Advanced Visualisation to Open Surgery The RUBINA Lens is a digital, camera-based exoscope that provides surgeons with a magnified 4K view of the surgical field displayed on a monitor. The system allows clinicians to switch between standard white-light imaging and near-infrared fluorescence imaging using indocyanine green (ICG), a fluorescent dye commonly used to assess blood flow and tissue perfusion during surgery. By combining these imaging modes, the device can reveal anatomical and physiological information that may not be visible to the naked eye, potentially supporting more informed intraoperative decision-making. The FDA clearance covers use cases including: Real-time tissue perfusion assessment Lymphatic mapping procedures Breast surgery applications Other open surgical procedures where NIR imaging with ICG may provide clinical value Expanding Existing Surgical Imaging Infrastructure One of the key advantages of the RUBINA Lens is its ability to integrate with existing KARL STORZ imaging platforms. The exoscope connects directly to the company's IMAGE1 S RUBINA systems, allowing hospitals already using KARL STORZ equipment to expand fluorescence-guided surgery capabilities without purchasing entirely new imaging infrastructure. This reflects a broader trend across surgical technology, where manufacturers are increasingly focused on extending the functionality of existing platforms rather than requiring complete equipment replacement. According to KARL STORZ, the system has been designed to fit naturally into existing operating room workflows while minimising procedural complexity. Designed for Surgical Flexibility The RUBINA Lens can be operated either as a handheld device or mounted to a holding arm, providing flexibility across different surgical environments and procedural requirements. Additional features include: High-resolution 4K imaging Wide working distance to reduce frequent refocusing Large 16:9 field of view Manual horizon control for image orientation Compatibility with standard sterilisation processes Multiple fluorescence viewing modes similar to those available in the company's endoscopic systems These capabilities are intended to support surgeon comfort while maintaining visual consistency across both open and minimally invasive procedures. Why Fluorescence-Guided Surgery Matters Fluorescence imaging has become an increasingly important tool across a growing range of surgical specialties. By using dyes such as indocyanine green, surgeons can visualise blood flow, tissue perfusion and lymphatic structures in real time, helping to identify critical anatomy and assess tissue viability during procedures. The technology has gained traction because it provides functional information beyond traditional visual inspection, offering an additional layer of data during surgery without significantly disrupting workflow. As healthcare systems continue to prioritise precision surgery and improved patient outcomes, fluorescence-guided imaging is becoming an increasingly common component of modern operating rooms. What This Means for the Industry The FDA clearance of the RUBINA Lens highlights several broader trends in surgical technology: Advanced imaging capabilities are increasingly moving beyond minimally invasive procedures into open surgery Hospitals are seeking technologies that integrate with existing operating room infrastructure Fluorescence-guided surgery continues to expand across multiple clinical specialties Digital visualisation platforms are becoming central to modern surgical workflows The approval also reinforces the growing importance of real-time imaging technologies that provide surgeons with enhanced visibility and decision support during procedures. Summary KARL STORZ has secured FDA clearance for the RUBINA Lens exoscope, extending its near-infrared fluorescence imaging capabilities into open surgery. By combining 4K visualisation with real-time fluorescence imaging and compatibility with existing KARL STORZ platforms, the device supports a growing industry shift towards image-guided surgical procedures that enhance intraoperative decision-making while fitting seamlessly into established operating room workflows. 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

Subtle Medical has received FDA clearance for SubtleHD(CT), an AI-powered software platform designed to improve computed tomography (CT) image quality by reducing noise and enhancing low-contrast detectability. The clearance marks the company's expansion beyond PET and MRI imaging enhancement, extending its AI imaging platform into one of the most widely used diagnostic modalities in healthcare. The announcement follows closely behind the company's $33m Series C financing round and highlights growing momentum behind AI-driven workflow optimisation in medical imaging. Bringing AI Enhancement to Existing CT Infrastructure SubtleHD(CT) has been developed as a software-as-a-medical-device (SaMD) that integrates directly into existing radiology workflows. Rather than requiring new imaging hardware, the platform is designed to improve image quality across a broad range of scanner fleets, including older CT systems that remain heavily utilised in hospitals and imaging centres. This approach reflects a growing trend across healthcare technology: using software to extend the useful life and performance of existing infrastructure rather than relying solely on capital-intensive equipment upgrades. For providers facing budget pressures and increasing imaging demand, AI enhancement tools offer a potential route to improving diagnostic quality without large-scale hardware replacement programmes. AI's Growing Role in Radiology Workflows SubtleHD(CT) joins a broader portfolio of AI imaging products already commercialised by Subtle Medical. The company's platform now includes: SubtlePET for PET image enhancement and workflow acceleration SubtleHD(MR) for MRI image quality improvement SubtleALIGN for automated MRI positioning and alignment SubtleSYNTH for generating MRI contrasts from existing image sequences Together, these products form part of Subtle's vendor-neutral AI Imaging Hub, designed to operate across multiple scanner manufacturers and healthcare environments. The strategy positions AI not as a standalone diagnostic tool, but as a workflow layer capable of improving image acquisition, standardisation and efficiency across the imaging pathway. Addressing Capacity Challenges in Medical Imaging The clearance also arrives against a backdrop of growing workforce pressure in radiology. Healthcare systems globally continue to face rising imaging demand while struggling to recruit sufficient numbers of radiologists and imaging specialists. According to projections from the Association of American Medical Colleges (AAMC), the United States could face a radiologist shortfall approaching 42,000 professionals by 2036. As a result, AI tools that reduce repeat scans, improve image consistency and streamline workflow efficiency are increasingly being viewed as operational necessities rather than experimental technologies. Funding and Leadership Momentum The FDA clearance follows Subtle Medical's recently completed $33m Series C financing round, which the company plans to use to accelerate product development and global commercial expansion. The financing also coincided with the appointment of new CEO Ohad Arazi, an experienced healthcare technology executive whose previous leadership roles have included positions at Change Healthcare, Zebra Medical Vision and Clarius Mobile Health. The combination of fresh capital, new leadership and regulatory momentum positions the company for broader adoption across imaging markets. Why This Matters SubtleHD(CT) reflects a broader shift in healthcare AI adoption. Rather than replacing clinicians, many of the most commercially successful AI applications are focused on improving workflow efficiency, image quality and operational capacity within existing clinical environments. Medical imaging has emerged as one of the clearest examples of this trend, where AI can help healthcare systems manage growing demand while maximising the value of existing infrastructure and workforce resources. Summary The FDA clearance of SubtleHD(CT) expands Subtle Medical's AI imaging platform into CT diagnostics, adding image enhancement capabilities to one of healthcare's most widely used imaging modalities. More broadly, the approval highlights how AI adoption in medical imaging is increasingly centred on workflow optimisation, infrastructure efficiency and clinician support as healthcare systems confront rising demand and growing workforce shortages. 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