Biotech Updates: Acrivon CLIA Lab, Lilly M&A Spree, Defence Radiopharma COO

Three biopharmaceutical companies announced corporate updates: Acrivon Therapeutics completed an internal CLIA-certified laboratory, Eli Lilly and Company disclosed more than 5 trillion won in M&A and licensing deals this year, and Defence Therapeutics appointed a new Chief Operating Officer and Head of Radiopharmaceutical Programs.

Acrivon Therapeutics announced the completion and certification of its internal, wholly-owned Clinical Laboratory Improvement Amendment (CLIA) certified laboratory in Watertown, Massachusetts. The facility received CLIA certification from the state of Massachusetts, with full license to conduct patient testing and develop companion diagnostics, and is expected to become fully operational during the first half of 2026. The company said the lab enables it to translate AP3-driven biomarker discoveries and deploy proprietary companion diagnostics with minimal dependency on outside partners, and is expected to increase speed and cost-efficiency in precision medicine drug development. The lab will also be leveraged for business development and potential partnering opportunities. Acrivon is advancing ACR-368, also known as prexasertib, a selective small molecule inhibitor targeting CHK1 and CHK2, in a potentially registrational Phase 2 trial for endometrial cancer. The FDA has granted Fast Track designation for ACR-368 as a monotherapy based on OncoSignature-predicted sensitivity in patients with endometrial cancer, and Breakthrough Device designation for the ACR-368 OncoSignature assay. The company is also developing ACR-2316, a novel, potent, selective WEE1/PKMYT1 inhibitor designed for superior single-agent activity through strong activation of CDK1, CDK2, and PLK1. Acrivon is a clinical stage biopharmaceutical company discovering and developing precision medicines utilizing its proprietary Generative Phosphoproteomics AP3 platform.

Eli Lilly and Company has spent more than 5 trillion won on M&A and licensing deals since the start of the year. Lilly said it will acquire U.S. blood cancer drug developer Ajax Therapeutics for $2.3 billion. Including this transaction, Lilly's global M&A this year totals $21 billion. Counting technology deals, the money spent on M&A and licensing so far this year tops 5.2 trillion won. Acquisition targets have spanned cancer, cardiovascular disease, and sleep disorders. The company has invested $20.85 billion in oncology pipelines, including the acquisition of Orna Therapeutics for $2.4 billion, an $8.85 billion oncology licensing deal with Innovent Biologics, the acquisition of CrossBridge Bio for $300 million, and the acquisition of Kelonia Therapeutics for about $7.0 billion. According to IQVIA, Lilly's oral obesity drug Poundayo logged 3,707 prescriptions in the second week after its U.S. launch, while Novo Nordisk's oral Wegovy recorded 18,410. In Korea, Lilly is pursuing technology collaborations with OliX Pharmaceuticals, Rznomics, and ABL Bio, conducting joint research with Peptron on the SmartDepot long-acting drug delivery platform, collaborating with SK on active pharmaceutical ingredient production for long-acting obesity drug research, and has finalized the establishment of a domestic base for Lilly Gateway Labs with Samsung Biologics. Eli Lilly and Company is the No. 1 drugmaker by market capitalization.

Defence Therapeutics announced the appointment of a new Chief Operating Officer and Head of Radiopharmaceutical Programs. The new COO brings more than 20 years of experience in advancing targeted radiopharmaceuticals from discovery through first-in-human clinical studies. He held key leadership roles at Fusion Pharmaceuticals, where he directed chemistry, radiochemistry, clinical manufacturing and external partnerships supporting multiple clinical-stage programs; Fusion Pharmaceuticals was acquired by AstraZeneca in 2024 for approximately US$2 billion. He also held leadership roles at Abdera Therapeutics and the Centre for Probe Development and Commercialization. The new COO holds a PhD in Engineering from Queen's University and completed postdoctoral research in Chemistry at the University of Toronto. The President and CEO said the new COO's expertise will be instrumental in accelerating radiopharmaceutical programs and expanding the potential of the Accum platform. The new COO said the immediate priority is to select a lead candidate and move it systematically through preclinical characterization, while establishing the CMC and manufacturing framework required to support its progression toward the clinic. The appointment follows the recent appointment of a new President and CEO and the opening of Defence's new office at McMaster Innovation Park in Hamilton. Defence Therapeutics is a publicly traded biotechnology company developing next-generation precision oncology therapeutics using its proprietary Accum technology.