Cleary Gottlieb represents MiniMed in its $560 Million IPO, Separation, and Credit Facility Medtronic’s preferred path for the separation of MiniMed is an IPO and subsequent split-off transaction. The separation includes MiniMed’s employees, product portfolio, pipeline, intellectual property, strategic partnerships, contingent liabilities, and global manufacturing facilities. Cleary Gottlieb is representing Medtronic plc (Medtronic), a global leader in healthcare technology, and MiniMed Group Inc. (MiniMed), the Diabetes business of Medtronic and a global leader in insulin delivery, in MiniMed’s $560 million initial public offering (IPO) and separation from Medtronic. MiniMed is offering 28 million shares of its common stock at a price to the public of $20 per share. MiniMed has also granted the underwriters an option to purchase up to an additional 4.2 million shares of common stock. Following the IPO, Medtronic will retain approximately 90.03% of MiniMed, or 88.7% if the underwriters exercise their option in full. MiniMed intends to use a portion of the net proceeds from the IPO for general corporate purposes, with the remainder going toward repaying intercompany debt owed to Medtronic as well as additional consideration to Medtronic for certain assets transferred to MiniMed in the separation.

Original title: “MiniMed in $560 Million IPO, Separation, and Credit Facility | News | Cleary Gottlieb”

Announced days before a trial, the deal settles a longstanding dispute and avoids what one analyst called a “worst-case scenario” financially for Moderna.

Original title: “Moderna to pay up to $2.25B to end mRNA vaccine patent fight”

The deal adds to a growing biotech presence for Blackstone and supports testing of a drug competing with rival therapies from Merck and Roche.

Original title: “Blackstone puts $400M into Teva, Sanofi gut disease drug”

The planned filing comes amid heightened scrutiny of the FDA’s rare disease stance and a year after Prime deprioritized the program for economic reasons.

Original title: “Prime to test FDA flexibility with 2-patient gene editing submission”

The companies Vaxcyte, Generate Biomedicines, and Immunic bagged the biggest biotech funding rounds overall in February 2026. The companies Vaxcyte, Generate Biomedicines, and Immunic bagged the biggest biotech funding rounds overall in February 2026 across private and public funding types. Meanwhile, in third place was oncology company Eikon Therapeutics, which brought in $381 million from an IPO. Unsurprisingly, oncology was by far the dominant therapeutic subsector in the public fundraising standings in February 2026, attracting eight rounds, from which approximately $1.36 billion was raised. Infectious diseases also saw significant investment last month, all thanks to Vaxcyte’s $632.5 million public offering. Below is a graph showing a month-to-month comparison of private and public biotech fundraising, looking at the total amount of money raised per month in 2026. February 2026 saw Atrium Therapeutics launch with approximately $270 million in cash and cash equivalents, making it the largest private biotech fundraising of the month. The company is beginning its journey with two precision cardiology candidates expected to enter clinical trials over the next couple of years for the treatment of protein kinase AMP-activated non-catalytic subunit gamma 2 syndrome (PRKAG2) and phospholamban cardiomyopathy. Elsewhere, Cyprium Therapeutics raised $205 million through the sale of its Rare Pediatric Disease Priority Review Voucher. Its lead candidate is a 31-valent pneumococcal conjugate vaccine (PCV) being evaluated in a phase 3 adult program and a phase 2 infant program for the prevention of invasive pneumococcal disease. Generate Biomedicines and Immunic tied in second place, with both companies bringing home $400 million; however, their methods differed, with Generate’s fundraising coming from an initial public offering (IPO), and Immunic’s coming from a private placement.

Original title: “The biggest biotech funding rounds in February 2026”

The funding comes weeks after TL1A blocker duvakitug maintained clinical remission rates above 50% in patients with ulcerative colitis and Crohn’s disease in a Phase 2b trial.

Original title: “Teva Bags $400M Backing From Blackstone To Advance Sanofi-Partnered Drug”

New funding will support the phase 2 expansion trial of THEO-260

Original title: “Theolytics awarded €8 million Horizon Europe grant to fund ovarian cancer study”

While an anonymous source tied the closure to shortcomings in the FDA’s new pathway, a spokesperson for the Department of Health and Human Services pushed back on the suggestion.

Original title: “Bespoke Startup EveryONE Folds 1 Week After Plausible Mechanism Guidance”

The settlement, which requires Moderna to pay the plaintiffs $950 million upfront plus up to $1.3 billion in contingent commitments, is an outcome “better than feared,” according to analysts.

Original title: “Moderna Notches Much-Needed Win in COVID-19 Patent Spat With Roivant”

Sanofi will gain global exclusive rights over rovadicitinib, an oral JAK/ROCK blocker that has anti-inflammatory and anti-fibrotic effects.

Original title: “Sanofi Bets Up to $1.53B in Hong Kong Immuno Pact, Adding to String of Deals”

With fresh billions unlocked in the 2026 U.S. budget and mission‑driven family offices recalibrating after a “nuclear winter,” early stage biotechs are rewriting their financing strategies around nondilutive capital and targeted private wealth.

Original title: “Rethinking Biotech’s Valley of Death as Federal Grants and Family Offices Step In”

Employees are reassessing, leaders are celebrating data that should make them nervous and job seekers are absorbing a narrative that doesn’t match their reality. Executive coach Angela Justice discusses how each of these groups are affected when the job market thaws.

Original title: “The Job Market May Be Warming—What Does That Mean for You?”

Merck’s Keytruda will soon lose exclusivity, just as weight-loss giants Eli Lilly and Novo Nordisk press in with their blockbuster GLP-1s.

Original title: “Keytruda Hangs On to Best Seller Crown as GLP-1s Gain Ground”

Ebvallo is one of a series of rare disease treatments recently turned back by the FDA amid shifting guidance that has surprised some companies and frustrated investors.

Original title: “Pierre Fabre seeks to revive US approval chances for spurned cell therapy”

Poplar Therapeutics is seeking a “step change” in the treatment of food allergy and other atopic conditions, with $95 million raised to date, including a $45 million series A extension that closed Tuesday.

Original title: “After Exiting 2seventy, Chip Baird Took a 180 to Food Allergy With Newly Launched Poplar”

OSE Immunotherapeutics has kicked off a strategic realignment initiative that involves deprioritizing the AbbVie-partnered OSE-230 and focusing its resources on the late-stage development of its ulcerative colitis candidate lusvertikimab.

Original title: “Boehringer Ingelheim Axes MASH Pact With OSE After Disappointing Mid-Stage Data”

This collaboration is backed by ... therapy for Anoctamin 5 (ANO5)-related disease, a rare genetic disorder. The transformational partnership will fund a comprehensive, multi-year program dedicated to advancing a potential treatment from initial design to clinical trial ... This collaboration is backed by a generous commitment of $7.65 million from the LGMD2L Foundation to develop a novel gene replacement therapy for Anoctamin 5 (ANO5)-related disease, a rare genetic disorder. The transformational partnership will fund a comprehensive, multi-year program dedicated to advancing a potential treatment from initial design to clinical trial readiness. The funding will support a series of critical milestones, including therapeutic design, preclinical studies, manufacturing scale-up, and ultimately a first-in-human clinical trial. This strategic alliance represents a significant step forward in addressing the unmet needs of patients with ANO5-related diseases. In addition to the gene replacement therapy for Anoctamin 5 (ANO5)-related disease, Cure Rare Disease's pipeline includes the development of two gene replacement therapeutics for LGMD2i/R9 and LGMD2g/R7, among therapies for other neuromuscular and neurodegenerative diseases. CRD’s track record navigating the complexities of therapeutic development gives us strong confidence that this investment can change the lives of individuals and families affected by LGMD2L.” · This effort underscores a shared mission to streamline the development of treatments for rare diseases often overlooked by traditional pharmaceutical pipelines, and highlights how committed organizations can come together to make meaningful progress for their communities. CRD is committed to accelerating the development of treatments for individuals with rare diseases through a patient-centric approach to research and development. The company's programs include gene therapy and antisense oligonucleotide (ASO) treatments for a range of rare diseases.

Original title: “Cure Rare Disease and LGMD2L Foundation Announce Multi-Year Partnership to Develop Gene Therapy for Anoctamin 5-Related Disease - BioSpace”

WOODBRIDGE, Conn.--(BUSINESS ... of $7.65 million from the LGMD2L Foundation to develop a novel gene replacement therapy for Anoctamin 5 (ANO5)-related disease, a rare genetic disorder.... WOODBRIDGE, Conn.--(BUSINESS WIRE)--Cure Rare Disease (CRD), a non-profit biotechnology organization, today announced a landmark partnership with the LGMD2L Foundation. This collaboration is backed by a generous commitment of $7.65 million from the LGMD2L Foundation to develop a novel gene replacement therapy for Anoctamin 5 (ANO5)-related disease, a rare genetic disorder. The funding will support a series of critical milestones, including therapeutic design, preclinical studies, manufacturing scale-up, and ultimately a first-in-human clinical trial. This strategic alliance represents a significant step forward in addressing the unmet needs of patients with ANO5-related diseases. In addition to the gene replacement therapy for Anoctamin 5 (ANO5)-related disease, Cure Rare Disease's pipeline includes the development of two gene replacement therapeutics for LGMD2i/R9 and LGMD2g/R7, among therapies for other neuromuscular and neurodegenerative diseases. CRD is committed to accelerating the development of treatments for individuals with rare diseases through a patient-centric approach to research and development. The company's programs include gene therapy and antisense oligonucleotide (ASO) treatments for a range of rare diseases. Limb Girdle Muscular Dystrophy type 2L or R12 is a rare genetic disorder that causes progressive muscle weakness. It primarily affects the muscles around the shoulders, upper arms, and thighs, known as the limb girdle muscles. These muscles play a key role in basic activities like walking, lifting, and standing.

Original title: “Cure Rare Disease and LGMD2L Foundation Announce Multi-Year Partnership to Develop Gene Therapy for Anoctamin 5-Related Disease - BioSpace”

Infrastructure and location have helped make Holly Springs a future hub for obesity drug production, with Amgen and Roche planning to manufacture GLP-1 therapies there to compete in the growing market.

Original title: “How North Carolina Attracted Amgen and Roche To Become a Next-Gen Obesity Drug Production Hotspot”

Here’s how drug developers can best approach interactions with the agency following last year’s seismic changes to its leadership, workforce and policies.

Original title: “Navigating the FDA After the Storm To Advance Drug Candidates”