Imara Dives Into Coronavirus-Churned Financial Waters With a $75M IPO

The global economy is in tumult as the new coronavirus sparks financial contagion but drug developer Imara pressed ahead with its IPO anyway, raising $75.2 million in its stock market debut. Late Wednesday, Imara offered 4.7 million shares for $16 apiece, which was the low end of its projected price range. The Boston-based company had … Continue reading “Imara Dives Into Coronavirus-Churned Financial Waters With a $75M IPO”

Kymera Closes $102M Round to Bring Protein-Busting Drugs to the Clinic

Reuse and recycle is more than an environmental slogan. It’s also a succinct description of how cells deal with old or damaged proteins. Kymera Therapeutics is developing drugs that use this cyclical cellular process to treat disease, and it has raised $102 million to move into clinical testing next year. The Series C round of … Continue reading “Kymera Closes $102M Round to Bring Protein-Busting Drugs to the Clinic”

Genmab Taps Bristol Myers Veteran Mancini as Chief Operating Officer

Genmab (NASDAQ: [[ticker:GMAB]]) has appointed Anthony Mancini to serve as executive vice president and chief operating officer. Mancini is joining Copenhagen, Denmark-based Genmab from Bristol Myers Squibb (NYSE: [[ticker:BMY]]), where he is senior vice president and head of US innovative medicines. When he starts at Genmab on March 23, he will be based in New … Continue reading “Genmab Taps Bristol Myers Veteran Mancini as Chief Operating Officer”

NGM Bio’s Trombley to Step Down to Become CEO of Unnamed Company

Aetna Wun Trombley, president and chief operating officer of NGM Biopharmaceuticals (NASDAQ: [[ticker:NGM]]), is leaving to become chief executive at a privately held company, the South San Francisco biotech announced Monday. The name of the company Trombley is joining was not disclosed. Her last day at NGM will be Friday. Trombley started at NGM in … Continue reading “NGM Bio’s Trombley to Step Down to Become CEO of Unnamed Company”

Acceleron Drops Drug for Rare Muscle Disease After Mixed Phase 2 Data

An experimental Acceleron Pharma drug for rare neuromuscular diseases has failed to distance itself from a placebo in a mid-stage study, spelling the end for that program. Acceleron (NASDAQ: [[ticker:XLRN]]) drug ACE-083 was being developed as a treatment for Charcot-Marie-Tooth disease, a hereditary nerve disorder that leads to the progressive loss of muscle function. The … Continue reading “Acceleron Drops Drug for Rare Muscle Disease After Mixed Phase 2 Data”

Cushing’s Disease Drug That Novartis Sold to Recordati Nabs FDA Nod

A Cushing’s disease drug whose rights Novartis sold to Italy-based Recordati last year now has FDA approval. Cushing’s disease is a rare disorder in which the adrenal glands make too much of a hormone called cortisol. The Novartis (NYSE: [[ticker:NVS]]) drug, osilodrostat (Isturisa), is intended to block an enzyme key to cortisol production. The FDA … Continue reading “Cushing’s Disease Drug That Novartis Sold to Recordati Nabs FDA Nod”

Zentalis Leads a Trio of Biotechs Charting a Course for Wall Street

Cell therapies and antibody drugs grab much of the attention and investment in cancer drug development but the scientists at Zentalis Pharmaceuticals contend that there’s a place for small molecules too. Now the biotech is preparing for an initial public stock offering to advance its pipeline, which includes a lead candidate in testing in combination … Continue reading “Zentalis Leads a Trio of Biotechs Charting a Course for Wall Street”

Melinta’s Chapter 11 Auction Draws No Bids, Deerfield to Get Assets

The assets of Melinta Therapeutics will go to creditor Deerfield Management after no bidders for the company emerged, the antibiotics developer announced Wednesday. Under a court-approved Chapter 11 bankruptcy plan, any bids for the company were due by March 2. An auction was scheduled for March 6 in the event any bids were submitted. But … Continue reading “Melinta’s Chapter 11 Auction Draws No Bids, Deerfield to Get Assets”

AMAG Pharma Chief Medical Officer Julie Krop to Step Down

Julie Krop, chief medical officer of AMAG Pharmaceuticals (NASDAQ: [[ticker:AMAG]]) since 2015, is leaving at the end of the month, the Waltham, MA-based company announced Wednesday. Krop has agreed to provide “support and transition services” through March 31, according to a securities filing. No reason was given for Krop’s departure, but it follows the January … Continue reading “AMAG Pharma Chief Medical Officer Julie Krop to Step Down”

BlueRock Hires Former Unum Exec Ettenberg as Chief Scientific Officer

BlueRock Therapeutics has appointed Seth Ettenberg to serve as its chief scientific officer. He comes to the Cambridge, MA-based cell and gene therapy developer from Unum Therapeutics (NASDAQ: [[ticker:UNUM]]), where he was chief scientific officer from the company’s 2014 founding until a corporate restructuring earlier this week. BlueRock, which was acquired by Bayer last year … Continue reading “BlueRock Hires Former Unum Exec Ettenberg as Chief Scientific Officer”

Novartis Leads $100M Round for Fibrosis-Focused Pliant Therapeutics

When Novartis signed on as a partner to Pliant Therapeutics last fall, it also agreed to eventually take an equity stake in the smaller biotech. The Swiss pharmaceutical giant made good on that commitment Tuesday, leading a $100 million investment. Besides Novartis, the Series C round of funding adds so-called crossover investors, firms that invest … Continue reading “Novartis Leads $100M Round for Fibrosis-Focused Pliant Therapeutics”

Biogen’s Anirvan Ghosh to Succeed Keith Leonard as Unity Bio CEO

Unity Biotechnology (NASDAQ: [[ticker:UBX]]), a company developing drugs to treat diseases of aging, has appointed Anirvan Ghosh to serve as its CEO. He will succeed Keith Leonard, who the company says is leaving his executive position due to personal circumstances but will remain chairman of the board of directors. Ghosh is coming to San Francisco-based Unity … Continue reading “Biogen’s Anirvan Ghosh to Succeed Keith Leonard as Unity Bio CEO”

Oculis Taps Shire Veteran de Souza Lima as Chief Medical Officer

Marcia de Souza Lima has been appointed chief medical officer of eye drug developer Oculis. She most recently worked at Shire, where she was vice president and head of global medical affairs for ophthalmics. Her experience also includes positions at Regenxbio, Novartis (NYSE: [[ticker:NVS]]), Pfizer (NYSE: [[ticker:PFE]]), Bausch & Lomb, and Ancile Pharmaceuticals. Lausanne, Switzerland-based … Continue reading “Oculis Taps Shire Veteran de Souza Lima as Chief Medical Officer”

Gilead Boosts Cancer Drug Pipeline With $4.9B Deal for Forty Seven

Gilead Sciences, which finished 2019 with nearly $26 billion at its disposal, is putting some of that money to work with a $4.9 billion deal to acquire cancer immunotherapy developer Forty Seven. Under deal terms announced Monday, Foster City, CA-based Gilead (NASDAQ: [[ticker:GILD]]) will pay $95.50 for each share of Forty Seven (NASDAQ: [[ticker:FTSV]]). That’s … Continue reading “Gilead Boosts Cancer Drug Pipeline With $4.9B Deal for Forty Seven”

Xilio Unveils New Name, $100M to Bring Targeted Cancer Drugs to Clinic

Cancer immunotherapy’s use can be limited by its side effects throughout the body. Xilio Therapeutics is developing technology that selectively activates a therapy’s potent cancer-killing activity specifically at the tumor and it has raised $100.5 million to advance two programs to clinical testing. The financing was led by Takeda Ventures. Along with the new cash, … Continue reading “Xilio Unveils New Name, $100M to Bring Targeted Cancer Drugs to Clinic”

Bio Roundup: COVID-19 Trials, Esperion’s Approvals, NASH News & More

Clinical trials have historically hewn to a rigid format. A trial is designed, conducted according to that design, and then results are analyzed. Making changes in the midst of the study was a no-no. In recent years, regulators have showed openness to clinical trial designs intended to make drug testing more efficient. We’ll get to … Continue reading “Bio Roundup: COVID-19 Trials, Esperion’s Approvals, NASH News & More”

Biohaven’s Migraine Pill Is the Latest CGRP Drug to Win the FDA’s OK

[Updated 2/28/2020, 2:45 p.m. See below.] A Biohaven Pharmaceutical migraine drug has won FDA approval, clearing the way to the market for a new treatment option for the millions of people who suffer from the debilitating condition. The Biohaven (NYSE: [[ticker:BHVN]]) drug rimegepant (Nurtec) was developed for acute migraine in adults, treating a migraine attack … Continue reading “Biohaven’s Migraine Pill Is the Latest CGRP Drug to Win the FDA’s OK”

Nouscom’s Udier Named CEO, Delaite Appointed Chief Medical Officer

Nouscom interim CEO Marina Udier has been named the company’s permanent chief executive. Udier joined the Basel, Switzerland-based immunotherapy developer in 2016 as chief operating officer. She was appointed interim CEO last May following the retirement of founder and former CEO Alfredo Nicosia. In other moves, Nouscom appointed Patricia Delaite its chief medical officer. Delaite … Continue reading “Nouscom’s Udier Named CEO, Delaite Appointed Chief Medical Officer”

Adverum Promotes Angela Thedinga to Chief Technology Officer

Angela Thedinga has been appointed chief technology officer of Adverum Biotechnologies (NASDAQ: [[ticker:ADVM]]). She had joined the Redwood City, CA-based gene therapy developer last August as vice president of program management and strategy. Before Adverum, Thedinga was vice president of program management and chief of staff at AveXis, which is now a subsidiary of Novartis (NYSE: … Continue reading “Adverum Promotes Angela Thedinga to Chief Technology Officer”

Esperion’s Combo Pill for Lowering Cholesterol Levels Wins FDA Nod

An Esperion Therapeutics drug that pairs two cholesterol-lowering medicines in a single pill has been approved by the FDA, the second regulatory nod for the company in less than a week. The reglator’s decision covers the combination of Esperion’s bempedoic acid (Nexletol) and ezetimibe, an older generic drug for reducing levels of the “bad” form … Continue reading “Esperion’s Combo Pill for Lowering Cholesterol Levels Wins FDA Nod”

With Foamix Merger Weeks Away, Menlo Itching Drug Fails a Phase 2 Test

A Menlo Therapeutics drug in testing for various itching conditions has failed a Phase 2 study, but executives say the results won’t translate to its lead itching target nor will they affect its pending merger with Foamix Pharmaceuticals. The Menlo (NASDAQ: [[ticker:MNLO]]) drug, serlopitant, is an experimental treatment for pruritus, itching that’s associated with a … Continue reading “With Foamix Merger Weeks Away, Menlo Itching Drug Fails a Phase 2 Test”

Skyhawk’s Terry Connolly Takes On New Role as Chief Operating Officer

Skyhawk Therapeutics has appointed Terry Connolly to serve as its chief operating officer. He had spent the past year as the Waltham, MA, company’s chief business officer. Before joining Skyhawk, Connolly held multiple roles at Celgene. Skyhawk is developing small molecule drugs that correct errors in RNA splicing. The company’s preclinical pipeline includes one program … Continue reading “Skyhawk’s Terry Connolly Takes On New Role as Chief Operating Officer”

Aurinia Taps Abeona’s Max Colao as Chief Commercial Officer

Aurinia Pharmaceuticals (NASDAQ: [[ticker:AUPH]]) has named Max Colao to the newly created position of chief commercial officer. He joins Victoria, BC-based Aurinia from Abeona Therapeutics (NASDAQ: [[ticker:ABEO]]), where he was executive vice president, chief commercial officer, and head of business development. Colao’s experience also includes positions at Alexion Pharmaceuticals (NASDAQ: [[ticker:ALXN]]) and Amgen (NASDAQ: [[ticker:AMGN]]). … Continue reading “Aurinia Taps Abeona’s Max Colao as Chief Commercial Officer”

Bicycle Therapeutics Lands $30M From Genentech in New Cancer R&D Pact

Genentech is the latest company to enter a drug discovery partnership with Bicycle Therapeutics, adding a new alliance in cancer research for the clinical-stage biotech. Under an agreement announced Tuesday, Roche subsidiary Genentech is paying Bicycle (NASDAQ: [[ticker:BCYC]]) $30 million up front. As programs progress, Bicycle could earn up to $1.7 billion in total milestone … Continue reading “Bicycle Therapeutics Lands $30M From Genentech in New Cancer R&D Pact”

Esperion’s FDA-Approved Cholesterol Drug Priced Even Lower Than Expected

As Esperion Therapeutics steered its cholesterol-lowering drug through clinical testing and regulatory review, CEO Tim Mayleben did something unusual for a pharmaceutical executive: he spoke openly about price. Specifically, he talked about how inexpensive the drug would be. As early as two years ago, Mayleben said an FDA-approved Esperion (NASDAQ: [[ticker:ESPR]]) drug would cost patients … Continue reading “Esperion’s FDA-Approved Cholesterol Drug Priced Even Lower Than Expected”

Invetx Fetches $15M to Develop Biologic Drugs for Man’s Best Friend

Veterinarians have a saying that a cat is not a small dog, says Invetx CEO Juergen Horn. Obviously, a dog of any size isn’t the same as a human. But Horn, a veterinarian, says there are enough similarities between the species to take the science behind biological drugs for people and apply it to animals. … Continue reading “Invetx Fetches $15M to Develop Biologic Drugs for Man’s Best Friend”

Lundbeck’s Alder Bio Bet Pays Off With FDA Approval of Migraine Drug

A migraine drug that Lundbeck added to its pipeline via its nearly $2 billion acquisition of Alder BioPharmaceuticals won FDA approval on Friday. The drug, eptinezumab (Vyepti), is part of a new class of antibody therapies developed to prevent migraine attacks before they start. These drugs block calcitonin gene-related peptide (CGRP), a protein associated with … Continue reading “Lundbeck’s Alder Bio Bet Pays Off With FDA Approval of Migraine Drug”

Spruce Bio Raises $88M for Clinical Tests of Rare Endocrine Disease Drug

Spruce Biosciences has raised $88 million to advance clinical testing of a drug for a rare inherited endocrine disorder that can lead to a potentially life-threatening hormonal imbalance. San Francisco-based Spruce aims to treat a form of congenital adrenal hyperplasia (CAH), an inherited condition that leads to a deficiency in enzymes needed to produce certain … Continue reading “Spruce Bio Raises $88M for Clinical Tests of Rare Endocrine Disease Drug”

Endo Names Blaise Coleman Successor to Retiring CEO Paul Campanelli

Endo International’s search for retiring CEO Paul Campanelli’s successor is ending close to home. Dublin, Ireland-based Endo (NASDAQ: [[ticker:ENDP]]) announced Wednesday that Chief Financial Officer Blaise Coleman will become president and CEO starting March 6. He will also take a seat on Endo’s board of directors. Before joining Endo in 2015, Coleman held leadership roles … Continue reading “Endo Names Blaise Coleman Successor to Retiring CEO Paul Campanelli”

ResTORbio Pins “Strategic Alternatives” Pitch to Parkinson’s Promise

Three months after resTORbio’s lead drug failed a pivotal test treating lung infections in the elderly, the company is now looking for someone to buy the firm or strike a deal for its technology. In a corporate update issued Wednesday, resTORbio (NASDAQ: [[ticker:TORC]]) says it has started a process to evaluate “partnerships, acquisitions, mergers, and … Continue reading “ResTORbio Pins “Strategic Alternatives” Pitch to Parkinson’s Promise”

Shattuck Labs Promotes Schreiber to CEO, Succeeding Hornblower

Taylor Schreiber, chief scientific officer and co-founder of Shattuck Labs, has been promoted to CEO. He succeeds Josiah Hornblower, who will continue to advise Shattuck as executive chairman of the company’s board of directors. Founded in 2016, Austin, TX-based Shattuck is developing “fusion protein” therapies to treat cancer. The company’s most advanced program, SL-279252, is … Continue reading “Shattuck Labs Promotes Schreiber to CEO, Succeeding Hornblower”

Imara Reveals IPO Plan as Sickle Cell Drug Advances in the Clinic

Sickle cell disease research is seeing a flurry of activity with several companies currently testing therapies for the genetic blood disorder and one company recently receiving FDA approval. Imara aims to set itself apart from the pack and it is preparing to go public to support continued clinical development of its own sickle cell drug. … Continue reading “Imara Reveals IPO Plan as Sickle Cell Drug Advances in the Clinic”

Agile Therapeutics Wins FDA Nod for Twirla Contraceptive Patch

A contraceptive patch developed by Agile Therapeutics was awarded FDA approval late Friday, clearing the way for a new birth control option to reach the market. The Agile (NASDAQ: [[ticker:AGRX]]) product, called Twirla, deliver delivers a combination of hormones via a proprietary skin patch applied once a week. It’s the first FDA approved product for the … Continue reading “Agile Therapeutics Wins FDA Nod for Twirla Contraceptive Patch”

Voyager Therapeutics Chief Operating Officer Matthew Ottmer Resigns

Gene therapy developer Voyager Therapeutics (NASDAQ: [[ticker:VYGR]]) has lost its chief operating officer. Matthew Ottmer, who held the role since September 2017, resigned effective Feb. 12, according to a Friday securities filing. No reason was given. Though Ottmer has stepped down from his executive role, he will remain an at-will employee of Cambridge, MA-based Voyager … Continue reading “Voyager Therapeutics Chief Operating Officer Matthew Ottmer Resigns”

Immmunomedics Taps MedCo Veteran Loretta Itri as Chief Medical Officer

Immunomedics (NASDAQ: [[ticker:IMMU]]) has appointed Loretta Itri to serve as chief medical officer. Itri was most recently executive vice president of global health sciences & regulatory affairs at The Medicines Company. Her experience also includes roles at Genta, Johnson & Johnson (NYSE: [[ticker:JNJ]]), Ortho Biotech, and Roche. Morris Plains, NJ-based Immunomedics is awaiting an FDA … Continue reading “Immmunomedics Taps MedCo Veteran Loretta Itri as Chief Medical Officer”

Bio Roundup: Goodbye Belviq, LogicBio on Hold, Revolution’s IPO & More

Drugs typically go through three phases of clinical testing to support an application for FDA approval. It’s easy to overlook Phase 4, which takes place after a drug reaches the market. Post-marketing studies aim to identify side effects not observed in the first three phases of testing. They also evaluate how a therapy works over … Continue reading “Bio Roundup: Goodbye Belviq, LogicBio on Hold, Revolution’s IPO & More”

Eisai Pulls Weight Loss Drug From Market After FDA Flags Cancer Risks

Eisai is withdrawing weight-loss drug lorcaserin after a post-marketing study found a higher incidence of cancer in patients who took the medicine. The FDA said Thursday that its request for removal of the product from the market is voluntary, but Eisai has already started the process for doing so. The withdrawal follows an FDA alert … Continue reading “Eisai Pulls Weight Loss Drug From Market After FDA Flags Cancer Risks”

Anika Therapeutics Appoints Cheryl Blanchard Interim CEO

Anika Therapeutics (NASDAQ: [[ticker:ANIK]]) board member Cheryl Blanchard has been named interim CEO of the company. Her appointment comes two weeks after the death of CEO Joseph Darling. With Blanchard stepping into her new role, the interim “Office of the President” that was created to take on Darling’s duties has been dissolved. Blanchard has been … Continue reading “Anika Therapeutics Appoints Cheryl Blanchard Interim CEO”

Palleon Pharma Promotes Li Peng to Chief Scientific Officer

Li Peng is taking on a new role at Palleon Pharmaceuticals as the company’s first chief scientific officer. Peng was previously Palleon’s vice president of research and early product development. Before joining the company, Peng held various roles at AstraZeneca (NYSE: [[ticker:AZN]]). Palleon is developing drugs that target the Siglec-Sialoglycan axis, a mechanism of immune … Continue reading “Palleon Pharma Promotes Li Peng to Chief Scientific Officer”

Revolution Medicines IPO Reels In $238M to Take On RAS in Cancer

The RAS family of proteins is one of the hottest targets in cancer research despite being one of the hardest for drug hunters to hit. Revolution Medicines has raised $238 million in an IPO to finance development of therapies that it says can drug these molecules in a novel way. On Wednesday evening, Revolution priced … Continue reading “Revolution Medicines IPO Reels In $238M to Take On RAS in Cancer”

Ionis Pharma’s Joseph Baroldi Joins Avidity as Chief Operating Officer

Avidity Biosciences has appointed Joseph Baroldi to serve as its chief operating officer. He joins San Diego-based Avidity from Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]), where he was vice president of business development. Avidity, which closed a $100 million Series C round of funding in November, is developing antisense-oligonucleotide antibody drugs. Its lead therapeutic candidate is a … Continue reading “Ionis Pharma’s Joseph Baroldi Joins Avidity as Chief Operating Officer”

Millendo Picks Poxel’s Arbet-Engels for Chief Medical Officer Post

Millendo Therapeutics (NASDAQ: [[ticker:MLND]]) has appointed Christophe Arbet-Engels to serve as its chief medical officer, the same position he held most recently at Poxel Pharmaceuticals. Arbet-Engels’s experience also includes positions at Biogen (NASDAQ: [[ticker:BIIB]]), Boehringer Ingelheim, Roche, Merck (NYSE: [[ticker:MRK]]), Aventis and Ligand Pharmaceuticals (NASDAQ: [[ticker:LGND]]). Millendo’s most advanced drug candidate, livoletide, is being developed … Continue reading “Millendo Picks Poxel’s Arbet-Engels for Chief Medical Officer Post”

Ligand’s Icagen Deal Brings Neuro, CF Assets Plus Partnering Potential

Ligand Pharmaceuticals is adding neurological disease and cystic fibrosis programs to its pipeline through a deal to acquire assets from drug discovery company Icagen. San Diego-based Ligand (NASDAQ: [[ticker:LGND]]) is paying $15 million up front for the “core assets” of Icagen’s Durham, NC operations. The neuroscience program is being developed under a partnership with Roche … Continue reading “Ligand’s Icagen Deal Brings Neuro, CF Assets Plus Partnering Potential”

Encoded Therapeutics Adds Rico, Moorhead to C-Suite

Gene therapy developed Encoded Therapeutics has appointed Salvador Rico to serve as its chief medical officer. Rico joins South San Francisco-based Encoded from Audentes Therapeutics, where he was senior vice president of clinical development. Audentes was recently acquired by Astellas in a $3 billion deal. In other moves, Encoded promoted Martin Moorhead from head of … Continue reading “Encoded Therapeutics Adds Rico, Moorhead to C-Suite”

Pfizer Veteran Abraham Joins Vividion as Chief Scientific Officer

Vividion Therapeutics has appointed Robert Abraham to serve as its chief scientific officer. He joins the San Diego-based drug developer after 10 years at Pfizer (NYSE: [[ticker:PFE]]), where he was most recently senior vice president and group head, oncology research and development. He came to Pfizer through its 2009 acquisition of Wyeth. Vividion is developing … Continue reading “Pfizer Veteran Abraham Joins Vividion as Chief Scientific Officer”

Lyndra Taps Pacira’s Richard Stanton for Chief Medical Officer Role

Richard Stanton has joined Lyndra Therapeutics as chief medical officer, the same role he held most recently at Pacira Pharmaceuticals. Lyndra is developing drug delivery technology that turns daily medications into extended-release formulations via a mechanism that keeps a drug in the stomach longer. Last year, the Watertown, MA-based company raised $55 million in Series … Continue reading “Lyndra Taps Pacira’s Richard Stanton for Chief Medical Officer Role”

Two Big Pharma Alliances End in Nixed Deals. Here’s What Happened.

Pfizer and Merck are each cutting ties with a smaller clinical-stage biotech after experimental drugs being developed under separate alliances fell short in human testing. Pfizer (NYSE: [[ticker:PFE]]) is walking away from a partnership with GlycoMimetics (NASDAQ: [[ticker:GLYC]]) a Rockville, MD-based company developing drugs for diseases where carbohydrates play a role. In 2011, Pfizer paid … Continue reading “Two Big Pharma Alliances End in Nixed Deals. Here’s What Happened.”

FDA Clinical Hold Stops LogicBio’s Gene Editing Study Before It Starts

The FDA has placed a clinical hold on a LogicBio Therapeutics application to begin human testing of its experimental gene-editing therapy for a rare, inherited liver disorder. LogicBio (NASDAQ: [[ticker:LOGC]]) disclosed the clinical hold for its gene-editing therapy, LB-001, after Monday’s market close. The Cambridge, MA-based biotech said that the hold concerns “certain clinical and … Continue reading “FDA Clinical Hold Stops LogicBio’s Gene Editing Study Before It Starts”