Ligand Pharmaceuticals

Zelsuvmi's approval for molluscum contagiosum tops Healio's most-read FDA approvals in dermatology for 2024, with other notable approvals including Xeomin, Klisyri, Zoryve, and more.

Palvella Therapeutics, a rare disease biopharmaceutical company, debuts on Nasdaq as PVLA with $80M cash, aiming to advance QTORIN™ rapamycin for microcystic LMs and cutaneous VMs, potentially becoming the first approved therapy for these conditions.

Palvella Therapeutics, a rare disease biopharmaceutical company, debuts on Nasdaq as 'PVLA' with $80M cash to fund operations into 2027, focusing on QTORIN™ rapamycin for microcystic lymphatic malformations and cutaneous venous malformations. The company aims to become a leader in rare genetic skin disease treatments.

Wheeler Bio appoints Patrick Lucy as CEO, leveraging his 32 years of biotech experience to guide the CDMO's transition to commercial-scale operations and position Oklahoma City as a major biotech hub.

Palvella Therapeutics received a $2.6m FDA grant for its Phase III SELVA trial of QTORIN rapamycin for microcystic lymphatic malformations, one of seven funded studies out of 51 applications in 2024. The 24-week trial aims to enroll 40 subjects across US centers, focusing on clinician-reported outcomes.

In 2023, Austria's R&D expenditure was 3.26% of GDP, ranking 3rd in the EU. By 2024, it's projected to reach 3.34%, totaling €16.64 billion. Tyrol is a life sciences hub, with Novartis expanding its facilities at a cost of €250 million each by 2025. Novartis focuses on innovative medicines, opening the Analytics Lab in Kundl and CC2Plus in Schaftenau. Ligand Pharmaceuticals acquired Apeiron Biologics in July 2024, committing to invest up to USD 4 million in invIOs GmbH. Austria promotes R&D through direct funding, a 14% research tax credit, and an immigration allowance. The Austrian Business Agency offers free advice and will participate in major biotech conferences.