AstraZeneca - AstraZeneca has increased its investment in a new drug manufacturing facility in Virginia by $500 million, bringing the total commitment to $4.5 billion [2] - The facility will produce various drugs, including an experimental obesity pill, a blood pressure medication, and an oral PCSK9 inhibitor, and will now also manufacture antibody-drug conjugates [2] - Once operational, the plant is expected to employ 700 workers [2] Ascenta Capital - Ascenta Capital has closed a $325 million fund aimed at supporting development-stage biotechnology companies [2] - The firm, founded by Moderna veterans, has already invested over $100 million in six biotech companies, including Odyssey Therapeutics, OrsoBio, and Cardurion Pharma [2] - Ascenta Capital prefers to lead or co-lead investments in "multi-medicine" biotechs at early stages of human testing [2] Expedition Therapeutics - Expedition Therapeutics has raised $165 million in a Series A round to support testing of a lung disease drug licensed from Fosun Pharma [2] - The drug targets the enzyme DPP-1, which is associated with multiple inflammatory conditions, and the financing will fund a Phase 2 trial in chronic obstructive pulmonary disease [2] - The company is led by former Goldman Sachs banker Yi Larson and focuses on in-licensing assets from China [2] Ferring Pharmaceuticals - Ferring Pharmaceuticals plans to lay off up to 500 employees as part of a cost-cutting initiative [2] - The company is aligning its operations with a new "Enterprise Model" aimed at boosting its core business and providing flexibility for new opportunities [2] - The Chief Medical and Science Officer has taken early retirement as part of this restructuring, and a new company council has been formed [2]