Emerging Company Profile: CinFina is advancing two novel mechanisms of action in obesity as monotherapies and in combination with GLP-1s.

Eli Lilly, striving to outpace Novo Nordisk, dominated the dealmaking scene in 2023 by executing six acquisitions. Although Pfizer, BMS and AbbVie sealed the largest M&A deals of the year, they did not lead in terms of volume.

Public Company Edition: Syndax grossed $230m in a follow-on public offering based on positive results for its menin inhibitor in leukemia, but the FOPO was an outlier relative to other companies, which relied on private placements, debt and other options to raise cash in a tough market.

Boehringer Ingelheim and AstraZeneca are once again going up against each other in chronic kidney disease, with Phase II results for their rival new agents showing promise. Unfortunately, they both also lie in the path of Novo Nordisk’s cardiometabolic juggernaut, Ozempic.