An 18-year-old male patient, a Moroccan international student in China, presented to the emergency department of Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, with a chief complaint of persistent upper…
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These teams that have qualified for the IFAF Flag Football World Championships 2026
The fields are now set for the women’s and men’s competitions at the 2026 IFAF Flag Football World Championships.
Following the conclusion of the Asia-Oceania Flag Football Championships on Sunday (26 October), the final continental competition…
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AI Helps Decode The Epigenetic ‘off-switch’ In An Ugly Plant That Lives For 3,000 Years
We all age, and for decades, science has been looking for a way to slow that clock. Much of that research is now focused on epigenetics—a system of “software” that runs on our genetic “hardware,” telling genes when to turn on and off.…
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Sotheby’s Records Surrealist Records in Paris—and More Art News
The Headlines
SUSPECTED LOUVRE THIEVES ARRESTED. Two suspects have been detained in connection with the theft of jewels, including pieces once belonging to Emperor Napoleon III and Empress Eugénie, from the Louvre on October 19….
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Eli Lilly buys Adverum in eye disease gene therapy punt
As part of the deal, Eli Lilly will acquire Adverum’s lead candidate ixo-vec, an intravitreal gene therapy for wAMD treatment. Credit: Tada Images via Shutterstock.com. 
Eli Lilly has agreed to acquire eye disease specialist Adverum Biotechnologies, bucking a recent trend of big pharma companies deciding to steer clear of the cell and gene therapy sector.
Eli Lilly has offered Adverum $3.56 per share in cash, including an additional $8.91 in milestone payments. The latter depends on US approval of the biotech’s lead gene therapy candidate, ixo-vec, within seven years and achieving more than $1bn in annual global sales within ten years. This brings the total consideration to $12.47 a share, valuing the deal at a possible $261.7m.
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The share offer agreed on 24 October reflects a nearly 15% discount from the $4.18 closing price on 23 October.
For Adverum, the potential buyout from Eli Lilly provides financial respite. The biotech has been struggling for cash in recent times – holding $44.4m to its name in July 2025. The lack of capital had increased jeopardy for ixo-vec, an intravitreal gene therapy that advanced into a Phase III trial (NCT06856577) for the treatment of wet age-related macular degeneration (wAMD) in March 2025.
Indeed, Eli Lilly stated that without a $65m loan given to Adverum to continue ongoing clinical trials, the biotech would only be able to finance itself through October before having to wind down operations.
Despite having to help fund ixo-vec’s development, which has been granted fast track and regenerative medicine advanced therapy (RMAT) designations by the US Food and Drug Administration (FDA), Eli Lilly could use the candidate to enter the lucrative wAMD market. The AMD sector, which also includes the dry form, is expected to reach $27.5bn across 7MM by 2031 (7MM: US, France, Germany, Italy, Spain, UK, and Japan), according to GlobalData analysis.
There is no gene therapy approved with a wAMD indication, with current treatments working via the anti–vascular endothelial growth factor (VEGF) mechanism, such as Regeneron’s blockbuster Eylea (aflibercept). The therapy is administered every four weeks for the first five months, followed by a single injection every two months. For Eli Lilly’s soon-to-be acquired ixo-vec, this could offer patients a one-and-done treatment.
Lilly molecule discovery group vice-president Andrew Adams said: “Ixo-vec has the potential to transform wAMD treatment from a paradigm of chronic care with repeated intravitreal injections to a convenient one-time therapy.”
Adverum CEO Laurent Fischer: “[Lilly’s] scientific depth and global reach offer the opportunity to accelerate our vision to deliver a transformative one-and-done therapy that can potentially restore and preserve vision for millions of patients living with wAMD.”
Lilly bucks big pharma trend
This is not the first time in 2025 that Eli Lilly has swooped in to rescue a cash-strapped biotech specialising in gene therapies. In April, the big pharma signed a licensing deal worth up to $1.4bn for Sangamo Therapeutics’ neurology-targeting gene therapy.
However, Lilly’s recent deals, which includes a $1.3bn acquisition of RNA-based gene therapy developer Rznomics in May 2025, goes against the grain of big pharma generally opting to retreat from the cell and gene therapy sector.
Earlier this month, Galapagos wound down its cell and gene therapy division after failing to sell the unit. Japanese pharma Takeda also abandoned its cell therapy research, pivoting instead towards small molecules, biologics and antibody-drug conjugates (ADCs).
In addition, Gilead Sciences’ Kite Pharma terminated its cell therapy collaboration with Shoreline in September 2025, ending a research partnership valued at $2.3bn.
Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.
Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content.
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Bitcoin faces a new civil war over how its blockchain should be used
I recently had the pleasure of visiting the lovely mountain town of Lugano, Switzerland, whose appeal lies in that it is basically Italy but administered by the Swiss. That’s according to Tether CEO Paolo Ardoino, one of the prime backers of Plan B, a Bitcoin conference where I hosted a discussion on the growing trend of nation states embracing the original cryptocurrency.
The event had an upbeat vibe—not surprising since everyone there worshipped Bitcoin—but it was also clear there was trouble in paradise. It turns out there is a growing schism over Bitcoin’s codebase, and whether it should be modified to permit the blockchain to include more non-financial data.
The notion of including data unrelated to Bitcoin transactions is hardly new and, indeed, the very first block on the blockchain includes a reference to a newspaper headline about bank bailouts. Now, though, Bitcoin’s biggest and most influential group of coders, known as Core, are planning to tweak their software in order to significantly lift the restrictions on how much non-payment information can be included in a block.
For the Core crowd, this is a simple and pragmatic way to promote new uses for Bitcoin and, in the process, drum up extra fees for miners at a time when the blockchain’s lottery payment is 3.125 Bitcoins, and set to halve again in 2028. A fast-growing rival faction, though, wants nothing to do with the scheme and is promoting a Bitcoin client software of its own called Knots.
That faction’s software is led by an influential Bitcoin developer, who is a devout Catholic and reportedly named it Knots after the “whip of knots” Jesus used to drive money changers from a temple. According to a lawyer I spoke with on the Knots side, the software is necessary to protect the blockchain from what he decried as spammers and “scam adjacency” projects that promote things like Bitcoin NFTs.
If you’ve encountered Bitcoiners in person or online, you’re aware they’re not known for their tact. That is true of prominent figures from Bitcoin’s early days who have been denouncing each other on stage in Lugano and on X. These high profile partisans include Peter Todd and Jameson Lopp for the Core faction, and Nick Szabo and Luke Dashjr for the rival Knots sect.
This latest schism (you can read a helpful breakdown here) hearkens back to the Bitcoin block size wars that raged from 2015 to 2017, and ultimately saw the “small blockers”—who favored keeping Bitcoin blocks at 1MB—prevail over rivals who claimed boosting the blocks to 2MB or more would be more commercially viable. That fight produced bad blood that has lasted to this day.
In the current fight, Knots is still the smaller faction, but has already become the client of choice for over 20% of Bitcoin node operators. Its growing popularity lies not only in Knots’ position on expanding the blockchain, but from a perception that the Core crowd has grown arrogant and out-of-touch with Bitcoin’s core values. The Core folks, meanwhile, dismiss the Knots faction as lying trouble-makers.
I lack the authority to weigh in on much of this, other than to observe that this latest battle for the soul of Bitcoin reinforces what I’ve said for years: Bitcoin is a marvelous technology, but also a religion. And with any religion, there will be divisions between old-line believers and more modern adherents. Happily for the crowd in Lugano, there was a moment of unity that came with the unveiling of a restored Satoshi Nakamoto statue on the city’s beautiful lakefront. Bitcoin’s factions may be at war but there’s no doubt they still worship a common god.
Jeff John Roberts
jeff.roberts@fortune.com
@jeffjohnrobertsDECENTRALIZED NEWS
If you can’t beat ‘em, join ‘em: JPMorgan Chase’s CEO continues to soften his longtime anti-crypto stance as his bank announced that it will let borrowers use Bitcoin and Ethereum for loan collateral by the end of year. (Bloomberg)
COIN upgrade: Coinbase’s forthcoming crypto token could be worth $12 billion to $34 billion, said a JPM analyst, who cited the token and the slowing growth of DEXes as reasons to upgrade the stock ahead of third-quarter earnings this week. (DL News)
Here we ICO again? In assessing Coinbase’s $375 million acquisition of Echo, which was founded by crypto influencer Cobie and helps token projects raise funds, one journalist speculated it could inaugurate the return of 2016-style initial coin offerings. (Bloomberg)
DAT doesn’t add up: Following a Fortune exposé pointing to potential insider trading ahead of public company pivots to digital asset treasuries, a new report provides evidence that insiders tied to some popular DATs are using share sales to circumvent token lockups. (Unchained)
Trump picks a CFTC chair: The White House selected longtime lawyer and crypto guy Mike Selig to lead the agency. The choice of Selig, which came after the Winklevii helped torpedo the original frontrunner, was hailed by industry vets who are eager to finalize a key bill that will divide responsibilities between the SEC and CFTC. (Politico)
MAIN CHARACTER OF THE WEEK
Changpeng Zhao, cofounder of Binance. Samsul Said—Bloomberg/Getty Images
CZ was the easy choice for main character of the week after finally securing a Presidential pardon. Critics, pointing to a $2 billion deal involving the Trump family’s stablecoin and Binance, blasted the pardon as massively corrupt while many on Crypto Twitter claimed it was fair since CZ—who pleaded guilty—had allegedly been the target of a political prosecution.
MEME O’ THE MOMENT
In Lugano, Switzerland, Bitcoiners unveiled a refurbished statue of Satoshi Nakamoto. @Globalstats11
Bitcoin devotees seeking to make a pilgrimage have a growing number of options. In addition to the refurbished Satoshi statue unveiled in Lugano, there is one in Budapest as well. Can a formal shrine—or perhaps a Bitcoin theme park—be far behind?
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Mitigation of alkaline stress and iron deficiency in Petunia hybrida through resveratrol-induced physiological and nutrient responses | BMC Plant Biology
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Anytime global warming or climate change get mentioned online, you can expect a bunch of comments claiming to be able to disprove the whole concept, at least in relation to human activity. Most of these have been debunked, not just in detailed…
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