The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours. The first was Eidos Therapeutics (NASDAQ: [[ticker:EIDX]]), which raised $106 million in its stock market debut. The San Francisco company priced its IPO late Tuesday, selling 6.25 million … Continue reading “Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours”
Author: Frank Vinluan
Xconomy Editor Frank Vinluan is a business journalist with experience covering technology and life sciences. Based in Raleigh, he was a staff writer at the Triangle Business Journal covering technology, biotechnology and energy before joining MedCityNews.com as North Carolina bureau chief. Prior to moving to North Carolina’s Research Triangle in 2007 he held business reporting positions at The Des Moines Register and The Seattle Times.
What’s Hot in Seattle Biotech: Tech, Life Sciences Convergence & More
Like a good cup of coffee, Seattle’s life sciences ecosystem is a balanced blend of complementary parts: research to find the underpinnings of disease, and information technology that helps scientists make sense of the data. That convergence was on display last week at Xconomy’s annual What’s Hot in Seattle Biotech event. Here are a few … Continue reading “What’s Hot in Seattle Biotech: Tech, Life Sciences Convergence & More”
BioXcel Therapeutics Appoints Vincent O’Neill Chief Medical Officer
Vincent O’Neill has been appointed senior vice president and chief medical officer of BioXcel Therapeutics (NASDAQ: [[ticker:BTAI]]). O’Neill had been serving as chief medical officer of the Branford, CT, company on a consulting basis since last July. His experience also includes senior roles at Genentech, Sanofi (NYSE: [[ticker:SNY]]), GlaxoSmithKline (NYSE: [[ticker:GSK]]), and Mirna Therapeutics. Earlier … Continue reading “BioXcel Therapeutics Appoints Vincent O’Neill Chief Medical Officer”
Former Walgreens Exec Leider Joins Gelesis as Chief Medical Officer
Gelesis has appointed Harry Leider to serve as the Boston company’s chief medical officer and executive vice president. Leider most recently worked at Walgreens Boots Alliance (NASDAQ: [[ticker:WBA]]), where he was chief medical officer and group vice president. His experience includes executive posts at Ameritox, XLHealth, and HealthNet. Since 2015, Leider has also been a … Continue reading “Former Walgreens Exec Leider Joins Gelesis as Chief Medical Officer”
Emulate Adds $36M to Expand “Organ Chip” Drug Research Technology
Emulate, a Boston-based startup that has developed small laboratory chips intended to replace the animal tests used in pharmaceutical research, has raised $36 million in financing. The Series C round of funding was led by Founders Fund. Also participating in the financing were new investors ALS Investment Fund, SciFi VC, and Glass Wall Syndicate, as … Continue reading “Emulate Adds $36M to Expand “Organ Chip” Drug Research Technology”
Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic
[Updated, 6/19/18, 4:20 p.m. See below.] Hearing loss affects millions of Americans, but so far, drug companies have not yet brought treatments to the market. Decibel Therapeutics aims to pioneer the discovery and development of therapies addressing multiple forms of hearing loss. The startup has quietly built a pipeline of experimental drugs, and as those … Continue reading “Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic”
Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches
Teva Pharmaceutical’s bid to add a new therapeutic application for its experimental migraine-prevention drug has faltered in a late-stage study. Israel-based Teva (NYSE: [[ticker:TEVA]]) said Friday that it is stopping a Phase 3 clinical trial testing its drug, fremanezumab, for prevention of chronic cluster headaches. According to the company, an analysis found that the study … Continue reading “Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches”
Metabolon CEO John Ryals Retires, Rohan Hastie Named Successor
John Ryals has retired from Metabolon, where he was president and CEO. Ryals, co-founder of the Research Triangle Park, NC, company, will remain on the board of directors. Rohan Hastie, Metabolon’s chief business officer, has been promoted to president and CEO. Metabolon has developed technology that analyzes processes related to metabolism. The company’s tests have … Continue reading “Metabolon CEO John Ryals Retires, Rohan Hastie Named Successor”
Northern Biologics’ Rahul Ballal Joins Imara as CEO
Rahul Ballal has been named CEO of Cambridge drug developer Imara. Ballal most recently served as chief business officer of Northern Biologics. Imara launched in 2016 backed by $31 million in financing to develop drugs for sickle cell disease and other blood disorders. The company’s lead sickle cell disease compound, IMR-687, is in mid-stage clinical … Continue reading “Northern Biologics’ Rahul Ballal Joins Imara as CEO”
Jayson Dallas Leaves Ultragenyx for CEO Post at Aimmune
Jayson Dallas has been appointed CEO of food allergy therapy developer Aimmune Therapeutics. Before joining Brisbane, CA-based Aimmune, Dallas was the chief commercial officer of Ultragenyx (NASDAQ: [[ticker:RARE]]) in Novato, CA. Dallas succeeds Stephen Dilly, who last year announced his plans to retire from Aimmune. The company says Dilly will continue to serve as an … Continue reading “Jayson Dallas Leaves Ultragenyx for CEO Post at Aimmune”
Biogen’s Gilmore O’Neill Joins Sarepta as Chief Medical Officer
Gilmore O’Neill has been appointed chief medical officer of Sarepta Therapeutics. O’Neill comes to the Cambridge, MA, biotech company from Biogen (NASDAQ: [[ticker:BIIB]]), where he was most recently senior vice president for all of the company’s clinical development. Sarepta’s first drug, eteplirsen (Exondys 51) won FDA approval in 2016 as a treatment for Duchenne muscular … Continue reading “Biogen’s Gilmore O’Neill Joins Sarepta as Chief Medical Officer”
In Digital Device Boom, Tear Film Sees Window for Dry Eye Treatment
The source of your eye discomfort might be cradled in your hands. If you’re like many people, your eyes spend much of the day fixed on digital displays. Before reading this, maybe you watched videos on a tablet or scanned social media on your phone. Try to remember the last time you blinked. Come to … Continue reading “In Digital Device Boom, Tear Film Sees Window for Dry Eye Treatment”
Allergan’s Migraine-Reducing Pill Hits Study Goals, Heads to Phase 3
An experimental Allergan pill meant to help reduce the frequency of migraines met the main goals of a key study, bolstering its chances of eventually being in the mix with a new wave of injectable migraine-preventing therapies. The results announced Monday for the Allergan (NYSE: [[ticker:AGN]]) drug, atogepant, come a month after Amgen (NASDAQ: [[ticker:AMGN]]) … Continue reading “Allergan’s Migraine-Reducing Pill Hits Study Goals, Heads to Phase 3”
Alder BioPharmaceuticals Picks Juno’s Robert Azelby for CEO
Robert Azelby has been named president and CEO of Alder BioPharmaceuticals (NASDAQ: [[ticker:ALDR]]). He will also join the Bothell, WA, company’s board of directors. After Azelby starts his new role on June 13, Alder’s interim CEO Paul Cleveland will resume his role as a member of the company’s board. Alder’s founding CEO, Randy Schatzman, resigned … Continue reading “Alder BioPharmaceuticals Picks Juno’s Robert Azelby for CEO”
Novartis’ Hinshaw Joins Axcella Health as President & CEO
Axcella Health has appointed William Hinshaw to serve as president and CEO. Before joining the Cambridge, MA, biotech company, Hinshaw was executive vice president and head of U.S. oncology for Novartis (NYSE: [[ticker:NVS]]). Axcella is developing protein drugs to address metabolic dysregulation. The company’s drug pipeline includes compounds for muscle, liver, and central nervous system … Continue reading “Novartis’ Hinshaw Joins Axcella Health as President & CEO”
Biogen Makes Another Small Bet With Option Deal for TMS Stroke Drug
Biogen has yet to make the big, transformative buyout Wall Street investors have hoped for. But it continues to place small bets to build up its neurology pipeline. The latest is a deal to pick up a compound now in mid-stage testing in stroke victims. Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) said Thursday that it will … Continue reading “Biogen Makes Another Small Bet With Option Deal for TMS Stroke Drug”
Rubius Therapeutics Names Pablo Cagnoni CEO
Pablo Cagnoni has joined cell therapy developer Rubius Therapeutics as CEO. Cagnoni’s career includes work as both an oncologist and a pharmaceutical executive. He was most recently president and CEO of South San Francisco, CA, cancer drug developer Tizona Therapeutics. Rubius, based in Cambridge, MA, is engineering red blood cells with therapeutic properties. The company … Continue reading “Rubius Therapeutics Names Pablo Cagnoni CEO”
Quentis Therapeutics Appoints Magram Chief Scientific Officer
Jeanne Magram has been appointed chief scientific officer of cancer immunotherapy developer Quentis Therapeutics. Before joining New York-based Quentis, Magram was chief scientific officer of Northern Biologics, a Toronto biotech company. Her experience also includes posts at Pfizer (NYSE: [[ticker:PFE]]) and Boeringer Ingelheim. In February, Quentis raised $48 million in a Series A financing round … Continue reading “Quentis Therapeutics Appoints Magram Chief Scientific Officer”
Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic
Nimbus Therapeutics’ drugs have already found new homes with larger companies that aim to develop them into potential treatments for autoimmune and liver diseases. Selling its discoveries was a goal for Nimbus from its inception. But the Cambridge, MA, biotech has also been trying to forge its own identity framed around discoveries that it keeps … Continue reading “Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic”
Portola Pharma CEO Bill Lis Plans to Retire from Company, Board
Portola Pharmaceuticals (NASDAQ: [[ticker:PTLA]]) CEO Bill Lis is retiring from the South San Francisco, CA, drug developer. Lis will also retire from Portola’s board of directors. The company said Lis will remain with the company through Aug. 1, and then step into an advisory role. John Curnutte, Portola’s executive vice president of research and development, … Continue reading “Portola Pharma CEO Bill Lis Plans to Retire from Company, Board”
Rodin Therapeutics Names Michael Ryan Chief Medical Officer
J. Michael Ryan has been appointed chief medical officer of drug developer Rodin Therapeutics. Ryan comes to the Cambridge, MA, biotech from Swiss company Asceneuron, where he was chief medical officer. His experience also includes posts in neuro drug development for Novartis (NYSE: [[ticker:NVS]]) and Pfizer (NYSE: [[ticker:PFE]]). Rodin is developing treatments for neurological disorders … Continue reading “Rodin Therapeutics Names Michael Ryan Chief Medical Officer”
Eli Lilly’s Arthritis Drug Approved at Lower Dose with Boxed Warning
Eli Lilly won regulatory approval for its rheumatoid arthritis drug Friday, nearly 14 months after the FDA rejected the once-daily pill due to safety concerns. But the approval comes with limitations that will likely hamper Lilly’s ambitions to turn the drug into a blockbuster seller. The regulatory nod covers only the lower of the two … Continue reading “Eli Lilly’s Arthritis Drug Approved at Lower Dose with Boxed Warning”
Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective”
As Amgen approached an FDA decision last month for its migraine-prevention treatment, concern mounted that the drug would come at premium. In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. The non-profit Institute for Clinical and Economic Review (ICER) assessed the … Continue reading “Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective””
Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More
For the next five days, the oncology community’s attention will focus on Chicago. The Windy City is the home for the American Society of Clinical Oncology’s annual meeting, and it kicks off today. Many ASCO attendees will zero in on potential cancer drug combinations. They’re seen as the key to expanding the reach of caner … Continue reading “Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More”
Daiichi Sankyo’s Ken Truitt Joins ImmusanT as Chief Medical Officer
Ken Truitt has been appointed chief medical officer of immune drug developer ImmusanT. Truitt comes to the Cambridge, MA, biotech from Daiichi Sankyo, where he was senior vice president for internal medicine therapies. Before joining Daiichi Sankyo, Truitt was director of clinical research in the pulmonary-immunology division of Merck (NYSE: [[ticker:MRK]]). Last fall, ImmusanT raised … Continue reading “Daiichi Sankyo’s Ken Truitt Joins ImmusanT as Chief Medical Officer”
Engine Bio Hires Stephen Harrison as Chief Scientific Officer
Drug discovery startup Engine Biosciences has named Stephen Harrison chief scientific officer and senior vice president of the San Francisco company. Harrison most recently worked at Relypsa in Redwood City, CA, where he was chief scientific officer. His experience also includes positions at Nektar Therapeutics (NASDAQ: [[ticker:NKTR]]), KAI Pharmaceuticals, Chiron, and Thios. Engine Biosciences, which … Continue reading “Engine Bio Hires Stephen Harrison as Chief Scientific Officer”
CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech
One way to understand the role genes play in disease is to think of the cells in our bodies as electronic circuits. The signaling pathways that either turn a cell’s genes on or off are like wires laid out to the nucleus of the cell, says Josh Mandel-Brehm, CEO of CAMP4 Therapeutics. Cambridge, MA-based CAMP4 … Continue reading “CAMP4 Hauls in $30M to Map New Ground with Drug Discovery Tech”
FDA Halts Plan for Vertex, CRISPR Therapeutics Sickle Cell Study
[Updated 5/31/18, 10:13 a.m. See below.] A Vertex Pharmaceuticals partnership with CRISPR Therapeutics to test a genetically engineered therapy as a treatment for patients who have sickle cell disease has been dealt a setback. The FDA placed a clinical hold on the application that Vertex (NASDAQ: [[ticker:VRTX]]) and CRISPR Therapeutics (NASDAQ: [[ticker:CRSP]]) submitted to start … Continue reading “FDA Halts Plan for Vertex, CRISPR Therapeutics Sickle Cell Study”
Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs
Avrobio and Eidos Therapeutics, rare disease drug developers on opposite sides of the country, have filed for initial public offerings, each company aiming to raise cash to finance more clinical tests of its lead drug. Cambridge, MA-based Avrobio set a preliminary $86 million target for its IPO, according to its prospectus filed Friday. The gene … Continue reading “Rare Disease Biotechs Avrobio, Eidos Therapeutics File for IPOs”
Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M
Growing up in China, Zhi Hong saw the healthcare challenges of his homeland firsthand. Despite the country’s economic strides, life science innovation there lags advances made in the West, he says. The GlaxoSmithKline veteran now wants to use his experience to adjust the balance. Backed by $260 million in financing, his startup, Brii Biosciences, plans … Continue reading “Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M”
Gilead’s Norbert Bischofberger Named Kronos Bio CEO
Norbert Bischofberger has been named president and CEO of Kronos Bio. Bischofberger comes to the Cambridge, MA, cancer drug developer from Gilead Sciences (NASDAQ: [[ticker:GILD]]), where he was executive vice president of research and development and chief scientific officer. In March, Gilead announced that Bischofberger, who had worked at Gilead for nearly 30 years, would … Continue reading “Gilead’s Norbert Bischofberger Named Kronos Bio CEO”
Five Prime Promotes Bryan Irving to Chief Scientific Officer
Bryan Irving is now executive vice president and chief scientific officer of Five Prime Therapeutics (NASDAQ: [[ticker:FPRX]]). Irving first joined South San Francisco-based Five Prime last year as vice president of research. His experience also includes posts at CytomX Therapeutics (NASDAQ: [[ticker:CTMX]]) and Genentech. Clinical-stage Five Prime develops protein therapies to treat cancer and inflammatory … Continue reading “Five Prime Promotes Bryan Irving to Chief Scientific Officer”
Magenta’s Bastiano Sanna Appointed Semma Therapeutics CEO
Bastiano Sanna has been named CEO and president of Semma Therapeutics. Elizabeth Stoner, who has been serving as interim CEO, will remain as an advisor to the company. Sanna comes to Cambridge, MA-based Senna from Magenta Therapeutics, where he was chief operating officer. His experience also includes positions at Novartis (NYSE: [[ticker:NVS]]). Semma is developing … Continue reading “Magenta’s Bastiano Sanna Appointed Semma Therapeutics CEO”
ORIC Pharmaceuticals Appoints Jacob Chacko CEO
Jacob Chacko has joined ORIC Pharmaceuticals to become the cancer drug developer’s CEO. Rich Heynman, who had been interim CEO, will now become chairman of the San Francisco company’s board of directors. Chacko was most recently chief financial officer of Ignyta, which was acquired by Roche earlier this year. ORIC, which stands for “overcoming resistance … Continue reading “ORIC Pharmaceuticals Appoints Jacob Chacko CEO”
What’s Hot in Seattle Biotech: Here’s the Agenda for the June 12 Event
Seattle’s innovation economy has dual identities: the technology sector that develops the hardware and software that comprise our increasingly digital lives, and the biotechnology sector that is searching for new ways to treat disease. The convergence of those fields makes the Puget Sound region a hotbed of activity. We will take a look at some … Continue reading “What’s Hot in Seattle Biotech: Here’s the Agenda for the June 12 Event”
Merck’s Roger Dansey Joins Seattle Genetics as Chief Medical Officer
Roger Dansey has been appointed chief medical officer of Seattle Genetics (NASDAQ: [[ticker:SGEN]]). Dansey comes to Bothell, WA-based SeaGen from Merck (NYSE: [[ticker:MRK]]), where he was a senior vice president in oncology. Dansey succeeds Jonathan Drachman, who will continue working with SeaGen as a strategic advisor. SeaGen develops and sells cancer therapies based on its … Continue reading “Merck’s Roger Dansey Joins Seattle Genetics as Chief Medical Officer”
C4 Therapeutics Promotes Stewart Fisher to Chief Scientific Officer
Stewart Fisher has been promoted to chief scientific officer of C4 Therapeutics. Fisher joined Watertown, MA-based C4 in 2016 as senior vice president of discovery sciences. Before working at C4, Fisher held positions at the Broad Institute and AstraZeneca (NYSE: [[ticker:AZN]]). C4 emerged in 2016 with a $73 million Series A round of financing to … Continue reading “C4 Therapeutics Promotes Stewart Fisher to Chief Scientific Officer”
Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines
[Updated 5/18/18, 8:38 a.m. See below.] An Amgen migraine drug developed to head off pain before it starts has won FDA approval, the first for a new class of preventive drug candidates for the condition. The Amgen (NASDAQ: [[ticker:AMGN]]) drug, erenumab (Aimovig), is a subcutaneous injection given once a month. The drug blocks the receptor … Continue reading “Amgen Migraine Drug Gets FDA Nod, First in New Class of Medicines”
Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too
For some migraine sufferers, bright lights or loud sounds are enough to touch off an attack. For others, stress sparks the onset of pain. Bright lights, loud sounds, stress: Migraine triggers vary from one patient to another. But a common element is the abundance of a pain-inducing protein in the blood. During a migraine attack, … Continue reading “Amgen Migraine Decision Looms, Maybe the Next Drug Price Fight, Too”
Aileron Therapeutics CEO Joseph Yanchik Resigns
Joseph Yanchik has resigned as president and CEO of Aileron Therapeutics (NASDAQ: [[ticker:ALRN]]) after 12 years at the Cambridge, MA, biotech company. He has also stepped down from the company’s board of directors. Aileron gave no reason for the changes. John Longenecker, founder and president of biopharmaceutical consulting firm JPL Biotech, has been named interim … Continue reading “Aileron Therapeutics CEO Joseph Yanchik Resigns”
Adicet Bio Names Elizabeth Read Chief Technology Officer
Elizabeth Read has been appointed chief technology officer of Adicet Bio. Read comes to Menlo Park, CA-based Adicet from Medeor Therapeutics, where she was senior vice president, product development. Her experience also includes management roles at StemCyte, Fate Therapeutics, and the American Red Cross. Pre-clinical stage Adicet is developing cancer immunotherapies.
Eli Lilly Bolsters Cancer Drug Pipeline with $110M Deal for AurKa
Eli Lilly is pulling out its checkbook again to acquire another cancer drug developer, this time inking a deal for early-stage company AurKa Pharma. Under the agreement announced Monday, Indianapolis-based Lilly (NYSE: [[ticker:LLY]]) will pay $110 million up front for AurKa. If the AurKa drug hits regulatory and commercialization milestones, AurKa shareholders could gain up … Continue reading “Eli Lilly Bolsters Cancer Drug Pipeline with $110M Deal for AurKa”
David Thompson Joins Inozyme Pharma as Chief Scientific Officer
Inozyme Pharma has appointed David Thompson to serve as senior vice president and chief scientific officer. Before joining Cambridge, MA-based Inozyme, Thompson was most recently president of Azure Biotech. His experience also includes positions at Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]), Pfizer (NYSE: [[ticker:PFE]]), and Merck Research Labs. Inozyme is preparing to start clinical trials for lead … Continue reading “David Thompson Joins Inozyme Pharma as Chief Scientific Officer”
Menlo Therapeutics Moves Paul Kwon to Chief Scientific Officer
Paul Kwon, the chief medical officer of Menlo Therapeutics (NASDAQ: [[ticker:MNLO]]) for the past two years, will now become the Redwood City, CA, company’s chief scientific officer. In a related move, Mary Spellman, senior vice president of clinical development, will be promoted to chief medical officer. Menlo, which completed its initial public offering earlier this … Continue reading “Menlo Therapeutics Moves Paul Kwon to Chief Scientific Officer”
Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More
Cytokine therapies for cancer aren’t new but they are attracting renewed interest. Some pharmaceutical companies see drug combinations using cytokines as a way to broaden the reach of immunotherapy, which still doesn’t work for the majority of cancer patients. This week, Eli Lilly (NYSE: [[ticker:LLY]]) showed how much it believes in cytokines. The Indianapolis drug maker … Continue reading “Bio Roundup: Moderna’s Billions, Cytokine Bets, Shire Acquired & More”
Synlogic CEO Gutierrez-Ramos Resigns, Brennan Named Interim Chief Exec
Jose Carlos Gutierrez-Ramos has stepped down as president and CEO of Synlogic (NASDAQ: [[ticker:SYBX]]). The Cambridge, MA, synthetic biology company gave no reason for his resignation, which includes his seat on the board of directors. But Synlogic said in a news release that Gutierrez-Ramos will “serve in an advisory capacity as needed.” Aoife Brennan, Synlogic’s … Continue reading “Synlogic CEO Gutierrez-Ramos Resigns, Brennan Named Interim Chief Exec”
Mallinkrodt’s Gary Phillips Joins OrphoMed as President & CEO
Gary Phillips has been named president and CEO of San Francisco-based OrphoMed. Phillips comes to OrphoMed from Mallinckrodt Pharmaceuticals (NYSE: [[ticker:MNK]]) where he was executive vice president and chief strategy officer. With the Phillips hire, OrphoMed’s founder, Nikhilesh Singh, is taking on the newly created position of chief scientific officer. OrphoMed’s lead drug, ORP-101, is … Continue reading “Mallinkrodt’s Gary Phillips Joins OrphoMed as President & CEO”
With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines
Eli Lilly is making a splash in the fast-moving, highly competitive field of cancer immunotherapy. With a $1.6 billion cash deal to acquire Armo BioSciences, the Indianapolis company has placed one of the boldest bets yet that cytokine drugs could be critical in expanding immunotherapy’s reach. This morning, Lilly (NYSE: [[ticker:LLY]]) agreed to pay $50 … Continue reading “With $1.6B Armo Buy, Eli Lilly Is the Latest to Bet Big on Cytokines”
Evelo IPO Raises $85M for Microbiome Drugs in Inflammation, Cancer
Evelo Biosciences now has $85 million to spend on its pipeline of drugs that target the human microbiome. The Cambridge, MA-based biotech priced its initial public offering of 5.3 million shares at $16, right at the midpoint of the $15 to $17 range it had previously set. Evelo’s shares are expected to begin trading on … Continue reading “Evelo IPO Raises $85M for Microbiome Drugs in Inflammation, Cancer”
Takeda Strikes $62B Deal to Acquire Rare Disease Drug Maker Shire
Takeda Pharmaceutical has reached an agreement to acquire Shire after raising its offer for the rare disease drug company. Under the cash and stock agreement, Osaka, Japan-based Takeda will pay $30.33 in cash for each share of Shire (NASDAQ: [[ticker:SHPG]]). Shire shareholders will also receive 0.839 new Takeda shares or 1.678 Takeda American Depository Shares, … Continue reading “Takeda Strikes $62B Deal to Acquire Rare Disease Drug Maker Shire”