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Gene therapies can now cure disease, but America still hasn’t figured out how to pay for them. Is there a better way? Also, Novo executives are downplaying a once-coveted obesity drug, Incyte is making a $2 billion blood disease bet, and new data suggest Boehringer’s obesity contender may struggle to stand out in an increasingly crowded market.

The need-to-know this morning

Roche is partnering with Nurix Therapeutics to co-develop an experimental antibody treatment that works by degrading, or eliminating, a protein called BTK that is associated with blood cancer and other diseases.

Treeline Biosciences, the developer of early-stage cancer medicines co-founded by biotech entrepreneur Josh Bilenker, is going public via a reverse merger with Standard BioTools.