Today's news roundup: Developments involving Capricor Therapeutics and Bristol Myers Squibb, as well as updates from Eli Lilly, Kynexis, and Network Bio, that you may have missed.

Kaos Capital calls for a 'governance reset' at Capricor

Activist investorKaos Capitalon theU.S. Food and Drug Administration (FDA)publicly called for a 'governance reset' at Capricor Therapeutics one day before the FDA's decision deadline on the company's cell therapy for Duchenne muscular dystrophy. In a letter to shareholders, Kaos requested a meeting, nominated two independent board members, and called for the creation of an 'M&A and Strategic Alternatives Committee.' Additionally, Kaos asked Capricor to freeze non-essential spending and introduce new drugs to complement its Duchenne muscular dystrophy treatment pipeline. In the letter, Kaos wrote that Capricor needs to become a 'disciplined biotechnology platform' rather than a 'single-asset bet.' The company seeks to meet with the board and a 'representative group of Capricor's major shareholders' within 15 days.— Jonathan Gardner

BMS and Chai Discovery partner on AI antibody discovery

Bristol Myers Squibb (BMS)is making another move in AI drug discovery. A month after partnering withNvidiato build a large AI data center, BMS has signed a deal with the high-profile startupChai Discoveryto use AI technology to discover new antibody drugs. According to a statement on Thursday, BMS will use Chai's AI models to help identify antibody candidates across its 'entire portfolio' and further build an 'AI-driven, continuously learning' discovery system. Chai completed a$400 millionSeries C financing round in July and has already established partnerships withPfizer、Eli LillyandNovartis.— Ben Fidler

Eli Lilly partners with Amplitude Therapeutics on RNA vaccines

Eli Lillyhas reached an agreement with RNA drug startupAmplitude Therapeuticsto jointly develop infectious disease vaccines that the two companies call 'trans-amplifying.'Trans-amplifying RNAis a type of replicating nucleic acid, similar to messenger RNA technology, that may help deliver vaccines into human cells. But the companies say such vaccines could be easier to manufacture and achieve stronger potency at lower doses. Wednesday's announcement did not disclose financial terms or the specific targets the companies will pursue, but noted that Eli Lilly will have development and commercialization rights to all programs discovered in the collaboration. This move is Eli Lilly's latest foray into vaccine research following its acquisition of three infectious disease-focused biotech companies in May.— Gwendolyn Wu

Kynexis expands Series A financing to €97 million

Brain drug developerKynexissaid Wednesday it added€40 millionto its Series A financing round. The round was led byNovartis' corporate venture capital arm, with participation fromForbion、Ysios Capitalandand Sunstone Life Science VenturesThe proceeds will help Kynexis complete its mid-stage study of its lead drug, 'KYN-5356,' in patients with cognitive impairment associated with schizophrenia. Kynexis says the oral drug may lower levels of kynurenic acid—a chemical that accumulates in the brains of schizophrenia patients—by blocking an enzyme calledKAT-IIThe Dutch biotech company expects to report top-line results from the trial by the end of this year.— Gwendolyn Wu

Network Bio launches with $50 million in funding

A new startup calledNetwork Biohassecured $50 million in fundingto accumulate 'disease-oriented datasets' to 'train new AI models for human health,' according to a press release on Wednesday. The California-based company is partnering with biobanks at major academic institutions such asMass General Brighamandand the University of PennsylvaniaAccording to Network, these collaborations will help it leverage vast repositories of patient tissue and blood samples to generate datasets that support biomedical research. Network is funded by several technology and biotech venture capital firms, includingSection 32、Thiel Bio、Founders Fundandand Breyer CapitalThe company has already signed a collaboration agreement worth more than$30 millionwith an unnamed healthcare company.— Gwendolyn Wu