July 28 Quick Takes: FDA approves first interchangeable biosimilar insulin for diabetes 

FDA designated Semglee insulin-glargine-ygfn as an interchangeable biosimilar insulin for Type I and Type II diabetes, meaning the product may be substituted for its reference product — Lantus insulin glargine from Sanofi (Euronext:SAN; NASDAQ:SNY) — without intervention from a prescriber. Mylan N.V. (NASDAQ:MYL) and Biocon Ltd. (NSE:BIOCON; BSE:532523) launched the long-acting insulin biosimilar in the U.S. last year. Under the Biologics Price Competition and Innovation Act of 2009 (BPCI Act), biologics such as insulin and hormones that had been approved under NDAs are now approved under BLAs, opening the products to biosimilar and interchangeable competition. 

With a $180 million series C round led by SoftBank Vision Fund 2,  Deep Genomics Inc. plans to expand its AI Workbench and expand its 10-program pipeline to 30. The company said it also aims to begin a large-scale data generation initiative across 100 genes to identify targets, mechanisms and preclinical programs, as well as move four programs into the clinic by 2023. Participating in the round were new investors Canadian Pension Plan Investment Board (CPP Investments), Fidelity Management & Research Co., Alexandria Venture Investments and existing investors Amplitude Ventures, Khosla Ventures, Magnetic Ventures and True Ventures...