Aesther Healthcare Acquisition extended the deadline to merge with Ocean Biomedical, while Intrinsic Medicine no longer plans to go public by merging with a SPAC. In restructuring news, Otonomy begins liquidation, Celyad cuts last clinical program with cash running out and Clovis files for bankruptcy.

VC Investment in South Korea’s biopharma sector drops again as investors continue to shy away amid higher interest rates and reduced out-licensing deals.

Axcella’s AXA1125, a therapeutic combination of amino acids, shows liver stiffness, liver enzyme and fat reduction benefits in Phase IIb interim look, but the firm lacks the cash to complete the trial.

Intercept and Axcella provide updated data on their NASH programs at the International Liver Conference, while CymaBay offers the full dataset for seladelpar in PBC.