A decentralized clinical trials model is especially important for patients with rare, genetic, or complex diseases. Learn how this model increases access to trials, bringing new therapies to rare disease patients faster. Clinical drug development is moving away from traditional approaches that rely on rare disease patients to travel long distances to clinical sites and … Continue reading “Decentralized Trials: Reshaping the Rare Disease Landscape”
Category: Boston
Vertex Stops Test of Rare Disease Drug, Dimming Pipeline Prospects
Vertex Pharmaceuticals is halting work on an experimental drug for a rare protein deficiency after safety problems were reported in Phase 2 testing. The study was evaluating the small molecule, VX-814, as a treatment for alpha-1 antitrypsin deficiency, which can lead to liver and lung problems. After the markets closed Wednesday, Vertex (NASDAQ: [[ticker:VRTX]]) disclosed … Continue reading “Vertex Stops Test of Rare Disease Drug, Dimming Pipeline Prospects”
Codiak Bio’s IPO Brings In $82M as Exosome Clinical Trials Begin
Codiak BioSciences now has $82.5 million to fund clinical tests of a new class of medicines based on exosomes, tiny bubbles formed by cells that the company harnesses to carry therapeutic cargo. Late Tuesday, Codiak priced its offering of 5.5 million shares at $15 apiece, the midpoint of its projected $14 to $16 per share … Continue reading “Codiak Bio’s IPO Brings In $82M as Exosome Clinical Trials Begin”
Roche Enlists Dyno to Bring AI to Next-Generation Liver, CNS Gene Therapies
Roche made a splash with its acquisition of Spark Therapeutics, whose Luxturna, a gene therapy for an inherited form of vision loss, was the first such therapy to win FDA approval. Now the Swiss pharmaceutical giant is looking to bolster its capabilities in liver and central nervous system (CNS) disorder gene therapies and it’s turning … Continue reading “Roche Enlists Dyno to Bring AI to Next-Generation Liver, CNS Gene Therapies”
Dewpoint Therapeutics Taps Ex-Sanofi Executive Ameet Nathwani as CEO
Ameet Nathwani has been appointed CEO of Dewpoint Therapeutics. He is also joining the Boston company’s board of directors. Earlier this year, Nathwani left his chief medical officer and chief digital officer roles at Sanofi (NYSE: [[ticker:SNY]]) as part of an executive team shakeup. His experience also includes 12 years at Novartis (NYSE: [[ticker:NVS]]) in … Continue reading “Dewpoint Therapeutics Taps Ex-Sanofi Executive Ameet Nathwani as CEO”
SQZ Biotech Lines Up an IPO on the NYSE to Fund Cell Therapy R&D
SQZ Biotechnologies, which already has an alliance with Roche focused on developing new cancer cell therapies, is now looking to sell shares to the public to finance its research of potential new treatments for both cancer and infectious disease. In paperwork filed with securities regulators late last week, SQZ set a preliminary $75 million goal … Continue reading “SQZ Biotech Lines Up an IPO on the NYSE to Fund Cell Therapy R&D”
FDA Panel Vote Weighs in Favor of Alkermes Psych Drug, With Caveats
An Alkermes antipsychotic treatment designed to offer the benefits of a commonly prescribed medicine, but without the weight gain side effect, won the backing of an FDA advisory committee on Friday. But even some of the panel members who supported the drug qualified their votes, expressing concern about what the drug could mean for patients … Continue reading “FDA Panel Vote Weighs in Favor of Alkermes Psych Drug, With Caveats”
Bio Roundup: CRISPR Kudos, Bristol Myers’s Buy, RNAi Alliance & More
It’s October: a time of days growing shorter, leaves changing color, and phone calls in the wee hours that rouse scientists from slumber notifying them they’ve won the highest honor in their fields. This week, the 2020 Nobel Prize in physiology or medicine was awarded to Harvey Alter, Michael Alton, and Charles Rice, whose research … Continue reading “Bio Roundup: CRISPR Kudos, Bristol Myers’s Buy, RNAi Alliance & More”
Biogen’s AdComm Meeting Will Test FDA’s “Substantial Evidence” Flexibility
A US Food and Drug Administration advisory committee meeting on Biogen, Inc.’s Alzheimer’s drug aducanumab will offer some insight into the amount of flexibility the agency and its external experts are willing to exercise for neurodegenerative diseases with high unmet need, particularly in the wake of a December 2019 guidance document on the quantum and … Continue reading “Biogen’s AdComm Meeting Will Test FDA’s “Substantial Evidence” Flexibility”
In RNAi Move, Takeda Fronts $300M to Team Up on Arrowhead Liver Drug
Arrowhead Pharmaceuticals’ gene silencing treatment for a rare liver disease will move through the regulatory process and potential commercialization with the muscle of Takeda Pharmaceutical behind it. Takeda (NYSE: [[ticker:TAK]]) has agreed to pay $300 million up front in a partnership on Arrowhead (NASDAQ: [[ticker:ARWR]]) drug ARO-AAT as a treatment for alpha-1 antitrypsin-associated liver disease. … Continue reading “In RNAi Move, Takeda Fronts $300M to Team Up on Arrowhead Liver Drug”
BIO Launches ‘Biotech Votes’ Campaign to Encourage Registration and Informed Voting
Science is the way out of this pandemic—and scientific breakthroughs are on the ballot on November 3. To help you get ready for Election Day, BIO’s initiative Biotech Votes has resources to help you get registered and get informed. First, make sure you’re registered to vote. Check out this handy form to verify your voter … Continue reading “BIO Launches ‘Biotech Votes’ Campaign to Encourage Registration and Informed Voting”
Scribe Therapeutics Sets Out to Write CRISPR Gene Editing’s Next Chapter
The first generation of CRISPR-based therapies showed how the technology can edit DNA, making genetic fixes to unwanted mutations. But those treatments use the CRISPR system as scientists found it in nature, which means it still has limitations when applied to humans, says Benjamin Oakes, CEO of Scribe Therapeutics. Scribe aims to develop gene-editing therapies … Continue reading “Scribe Therapeutics Sets Out to Write CRISPR Gene Editing’s Next Chapter”
Federation Bio Bags $50M to Engineer New Approach to Microbiome Drugs
Scientists at microbiome therapy developers often talk about the importance of community, how the bugs in our gut act in concert in addition to their individual roles. That’s important for microbiome health and for microbe-based therapies, says Emily Drabant Conley, CEO of startup Federation Bio. Conley’s company is developing therapies that build on the understanding of … Continue reading “Federation Bio Bags $50M to Engineer New Approach to Microbiome Drugs”
Bio Roundup: MESO’s Miss, Pfizer’s Cancer Bet, Vaccine Promise & More
Amid the bombast of Tuesday’s presidential debate, viewers caught some discussion about the response to the coronavirus pandemic and efforts to develop a COVID-19 vaccine. In the crosstalk, the president made an unsupported claim that we are weeks away from having vaccines. It’s true that some pharmaceutical companies are already manufacturing their COVID-19 vaccine candidates … Continue reading “Bio Roundup: MESO’s Miss, Pfizer’s Cancer Bet, Vaccine Promise & More”
FDA Lifts Solid Bio Clinical Hold, Duchenne Study Cleared to Resume
Solid Biosciences has answered the FDA’s outstanding questions about its Duchenne muscular gene therapy, clearing a clinical trial to now resume after patient complications last year led the agency to halt the study for a second time. Cambridge, MA-based Solid Bio (NASDAQ: [[ticker:SLDB]]) said Thursday that it expects dosing of patients in the Phase 1/2 … Continue reading “FDA Lifts Solid Bio Clinical Hold, Duchenne Study Cleared to Resume”
Invetx Appoints Bill Brondyk, Colin Giles to Executive Team
Invetx has appointed Bill Brondyk to serve as its chief scientific officer. His experience includes posts at Ohana Therapeutics and Sanofi (NYSE: [[ticker:SNY]]). Boston-based Invetx also named Colin Giles, a veteran of Nexvet Biopharma and Pfizer Animal Health, to become its chief development officer. Invetx uses the science underlying biologic drugs for humans to develop … Continue reading “Invetx Appoints Bill Brondyk, Colin Giles to Executive Team”
Thrive Earlier Detection Taps CVS’s Asgarian as Chief Medical Officer
Cancer diagnostics developer Thrive Earlier Detection has named Sam Asgarian its chief medical officer. He joins Thrive from CVS Health (NYSE: [[ticker:CVS]]), where he was vice president of the company’s transformation health product divison. He came to CVS via its acquisition of Aetna. In other moves, Dina Ciarimboli, who had been serving as interim general … Continue reading “Thrive Earlier Detection Taps CVS’s Asgarian as Chief Medical Officer”
Pfizer Pumps $200M Into CStone for Rights to PD-L1 Cancer Drug in China
CStone Pharmaceuticals has touted its experimental drug sugemalimab as potentially the best in its class of cancer immunotherapies. Pfizer is placing a bet on that promise by making a $200 million equity investment in CStone for rights to that drug in China. According to deal terms announced late Tuesday, Pfizer (NYSE: [[ticker:PFE]]) is purchasing nearly … Continue reading “Pfizer Pumps $200M Into CStone for Rights to PD-L1 Cancer Drug in China”
Praxis Precision Medicines Leads Way as Three More Biotechs Prep IPOs
Praxis Precision Medicines kept mostly quiet about its research on central nervous system disorder (CNS) drugs until May, when it emerged from stealth and revealed $100 million in cumulative financing. Now the company is aiming to raise about that amount in an IPO that will fund clinical development of its drug pipeline. Cambridge, MA-based Praxis … Continue reading “Praxis Precision Medicines Leads Way as Three More Biotechs Prep IPOs”
Ex-Radius Health Exec Carmona Joins Rubius as Chief Financial Officer
Rubius Therapeutics (NASDAQ: [[ticker:RUBY]]) has appointed Jose “Pepe” Carmona to serve as its chief financial officer, the same position he held most recently at Radius Health (NASDAQ: [[ticker:RDUS]]). Cambridge, MA-based Rubius is engineering red blood cells into potential therapies. Earlier this year, Rubius stopped work on its lead drug candidate for a rare metabolic disorder … Continue reading “Ex-Radius Health Exec Carmona Joins Rubius as Chief Financial Officer”
Galecto Picks Up $64M as Plans for Fibrosis Clinical Trials Move Forward
Had things turned out differently, scientists at Galecto might be watching their idiopathic pulmonary fibrosis drug candidate develop in the hands of a big pharmaceutical company. But Bristol Myers Squibb passed on its option to acquire Galecto leaving the biotech to forge ahead on its own. Now the company has $64 million to advance clinical … Continue reading “Galecto Picks Up $64M as Plans for Fibrosis Clinical Trials Move Forward”
Bio Roundup: Grail Acquisition, Libra’s Launch, Tau Trial Results & More
In biotech, you can go home again. Four years ago, Illumina spun out cancer diagnostics startup Grail. This week, the gene sequencing giant announced it is acquiring Grail in an $8 billion cash and stock deal. Grail set out with the goal of developing a diagnostic test that detects cancer from the genetic snippets tumors … Continue reading “Bio Roundup: Grail Acquisition, Libra’s Launch, Tau Trial Results & More”
Monte Rosa Raises $96M for “Glue-Based” Protein Degrading Drugs
Many drugs work by binding to a protein and blocking it. Technology for eliminating disease-causing proteins altogether remains experimental, but this approach has gained ground in the past year with hundreds of millions of dollars raised and compounds advanced into clinical testing. Monte Rosa is one of the newer companies in this “protein degradation” space … Continue reading “Monte Rosa Raises $96M for “Glue-Based” Protein Degrading Drugs”
Libra Strikes a Balance With Approach to ALS and Other Neuro Disorders
Amyotrophic lateral sclerosis (ALS) has no cure and few available treatments but the past decade has revealed new knowledge about the pathology of the disease. Libra Therapeutics is turning that research into potential therapies, and it now has $29 million to advance its work. While the exact causes of many neurological disorders are unknown, Libra … Continue reading “Libra Strikes a Balance With Approach to ALS and Other Neuro Disorders”
Athira CEO Kawas: Alzheimer’s Drug Aims for “Recovery of Brain Function”
The key to Athira Pharma’s approach to Alzheimer’s disease is already inside each of us: a repair mechanism that can regenerate damaged neurons. What’s needed to begin the process is a pharmacological kickstart. Athira (NASDAQ: [[ticker:ATHA]]) is developing a drug intended to turn on the repair pathway. The company’s experimental therapy is a small molecule … Continue reading “Athira CEO Kawas: Alzheimer’s Drug Aims for “Recovery of Brain Function””
Xconomy Awards On-Demand ‘Meet the Finalists’ Webcast Series Continues This Week
The 2020 National Xconomy Awards complimentary two-week, 11-part, on-demand Meet the Finalists daily webcast series continues this Tuesday and Wednesday at 11 a.m. ET. Registration is complimentary and includes access to a networking app with already more than 600 life science contacts. The daily series leads up to the Thursday, Sept. 24 free online National Xconomy Awards … Continue reading “Xconomy Awards On-Demand ‘Meet the Finalists’ Webcast Series Continues This Week”
Illumina to Acquire Cancer Diagnostics Developer Grail in $8B Deal
[Updated, 3:45 pm ET.] Grail is set to be acquired for $8 billion by Illumina, the gene sequencing giant that formed the cancer diagnostics developer and spun it out as a separate company four years ago. The announcement comes less than two weeks after Menlo Park, CA-based Grail revealed its plans for an IPO to … Continue reading “Illumina to Acquire Cancer Diagnostics Developer Grail in $8B Deal”
Bio Roundup: SeaGen Scores, Dyne’s Debut, Microbiome Moves & More
Gilead Sciences CEO Daniel O’Day has spoken openly about acquisitions as a way to build up the company’s drug pipeline. This week, it made its biggest buy yet. The $21 billion Immunomedics acquisition brings to Gilead a cancer drug that many analysts project will become a blockbuster seller. Some of those analysts think Gilead might … Continue reading “Bio Roundup: SeaGen Scores, Dyne’s Debut, Microbiome Moves & More”
Dyne’s Upsized IPO Brings In $233M for Muscle Disorders Drug R&D
Dyne Therapeutics, a company developing genetic medicines for rare muscular disorders, has raised $233 million in an IPO that topped the preclinical-stage biotech’s projections. Late Wednesday, Dyne priced its offering of about 12.3 million shares at $19 each. The Waltham, MA-based biotech had previously planned to sell 10.3 million shares in the range of $16 … Continue reading “Dyne’s Upsized IPO Brings In $233M for Muscle Disorders Drug R&D”
BIO Chief: “Reckless” Executive Order on Drug Prices Threatens Innovation
The US is doing more in the COVID-19 space than anywhere in the world due to the strength of its innovative ecosystem, says Michelle McMurry-Heath, president & CEO of life sciences advocacy group Biotechnology Innovation Organization (BIO). But such innovation is under threat due to “reckless” orders coming out of the White House. As part … Continue reading “BIO Chief: “Reckless” Executive Order on Drug Prices Threatens Innovation”
Finch Therapeutics Fetches $90M to Advance Microbiome Drug Pipeline
When Seres Therapeutics reported positive late-stage data for its experimental microbiome treatment last month, scientists at Finch Therapeutics cheered the results from the rival company whose lead drug candidate addresses the same gut infection they aim to treat. Positive data, no matter the source, helps the entire microbiome therapies field and paves the way for … Continue reading “Finch Therapeutics Fetches $90M to Advance Microbiome Drug Pipeline”
Arrowhead Pharma Shares Soar on Early Liver Data for RNAi Drug
An Arrowhead Pharmaceuticals drug for a rare liver disease now has early Phase 2 results and the data so far look good. Not only did the therapy reduce levels of a mutant protein associated with the disorder, but patients also showed improvements in several biological measures of liver injury. The results are for just four … Continue reading “Arrowhead Pharma Shares Soar on Early Liver Data for RNAi Drug”
Moderna CMO Talks COVID-19 Vaccine at the Xcelerate Keynote Series
The Xcelerate Keynote Series has added Moderna CMO Tal Zaks to the expert lineup of speakers set to present next Monday, Sept. 21. As you likely know, Moderna is one of the front-runners in the COVID-19 vaccine race, and we look forward to adding his insight to a packed agenda focused on innovative solutions during … Continue reading “Moderna CMO Talks COVID-19 Vaccine at the Xcelerate Keynote Series”
Neogene Therapeutics Grabs $110M to Tackle Solid Tumors With Cell Therapy
Cell therapy offers another option for addressing the most difficult blood cancer cases, but such treatments, which are engineered from a patient’s own immune cells, don’t yet work on solid tumors. Neogene Therapeutics is developing technology with the potential to bring cell therapies to solid tumors and it now has $110 million to advance its … Continue reading “Neogene Therapeutics Grabs $110M to Tackle Solid Tumors With Cell Therapy”
Synlogic Names Metera’s David Hava as Chief Scientific Officer
David Hava has joined Synlogic (NASDAQ: [[ticker:SYBX]]) as chief scientific officer, the same position he held most recently at Metera Pharmaceuticals. He also previously served as chief scientific officer of Pulmatrix (NASDAQ: [[ticker:PULM]]). Cambridge, MA-based Synlogic is engineering bacteria to serve as “living medicines.” The biotech’s lead program, SYB1618, is in mid-stage development as a … Continue reading “Synlogic Names Metera’s David Hava as Chief Scientific Officer”
Join Xconomy Next Week at the Virtual Xcelerate Keynote Series at Biotech Week Boston
Presented by Xconomy, the online Xcelerate Keynote Series at Biotech Week Boston on Monday, Sept. 21 places a spotlight on life science leaders who are breaking new ground with methods and solutions in R&D, planning, and production that are improving patient outcomes. As the industry navigates uncertainty, the keynote speakers will help drive your business … Continue reading “Join Xconomy Next Week at the Virtual Xcelerate Keynote Series at Biotech Week Boston”
Bio Roundup: COVID-19 Pact, Gavreto Approval, Generative Biology & More
COVID-19 research efforts are often characterized as a race between companies, a description that reflects the urgency to develop a vaccine for the novel coronavirus. The description is not quite right. A race has one winner and public health officials have said we’ll need multiple vaccines to address the global need. Vaccine developers have progressed … Continue reading “Bio Roundup: COVID-19 Pact, Gavreto Approval, Generative Biology & More”
Now Closer to Clinical Trials, Codiak BioSciences Refiles IPO Plans
Codiak BioSciences, a company developing therapies based on tiny bubbles secreted by cells, is lining up an IPO as it prepares for the first tests of its technology in humans later this year. In paperwork filed with securities regulators late Wednesday, Codiak set a preliminary $100 million goal for its stock market debut. The Cambridge, … Continue reading “Now Closer to Clinical Trials, Codiak BioSciences Refiles IPO Plans”
Generate Bio Aims to Reveal Nature’s Protein Secrets, Create New Drugs
When biotech startups emerge from stealth, executives typically talk about new molecules in the pipeline and novel approaches they take to treating a disease. The founders of Generate Biomedicines want to discuss none of those things, yet they contend their technology will upend the way protein drugs are discovered and developed. Cambridge, MA-based Generate has … Continue reading “Generate Bio Aims to Reveal Nature’s Protein Secrets, Create New Drugs”
Grail Files to Go Public; 5 More Life Science Firms Join the IPO Queue
Grail, a company developing blood tests intended to detect cancer well before symptoms show, is taking its pitch to a broader swath of investors. The diagnostics company is looking ahead to potential commercialization of its technology as early as next year, and it has filed for an initial public offering to support its plans. In … Continue reading “Grail Files to Go Public; 5 More Life Science Firms Join the IPO Queue”
Agios Exec Andrew Hirsch Jumps to C4 Therapeutics for CEO Role
Andrews Hirsch has joined C4 Therapeutics as its new CEO. He comes to the Watertown, MA-based biopharmaceuticals company from Agios Pharmaceuticals (NASDAQ: [[ticker:AGIO]]), where he was chief financial officer and head of corporate development. Marc Cohen, the co-founder and interim CEO of C4, will remain executive chairman of the company. C4 is developing drugs that … Continue reading “Agios Exec Andrew Hirsch Jumps to C4 Therapeutics for CEO Role”
AlloVir Taps Merck’s Atillasoy as Chief Regulatory & Safety Officer
AlloVir (NASDAQ: [[ticker:ALVR]]) has appointed Ercem Atillasoy to serve as its chief regulatory and safety officer, a new position. He joins the Cambridge, MA-based cell therapy developer after a nearly 20-year career at Merck (NYSE: [[ticker:MRK]]). He most recently worked at Merck Research Laboratories, where he was vice president and therapeutic area head of vaccines … Continue reading “AlloVir Taps Merck’s Atillasoy as Chief Regulatory & Safety Officer”
Grifols Moves Deeper Into Proteome R&D With $146M Deal for Alkahest
Alkahest, a company that analyzes blood proteins to develop therapies that address neurological disorders including Alzheimer’s disease, is set to be acquired by partner Grifols in a $146 million deal. Grifols (NASDAQ: [[ticker:GRFS]]) announced Tuesday that it is acquiring the shares of privately held Alkahest that it does not already own. Barcelona, Spain-based Grifols says … Continue reading “Grifols Moves Deeper Into Proteome R&D With $146M Deal for Alkahest”
FDA Approves Blueprint Cancer Drug Targeting RET Genetic Signatures
[Updated, 9/8/2020. See below.] A Blueprint Medicines drug for cancers that carry a certain genetic signature has received FDA approval, making it the latest targeted therapy to pass the regulatory bar this year. The late Friday decision for pralsetinib (Gavreto) covers non-small cell lung cancer (NSCLC). The drug was designed to address cancers characterized by fusions … Continue reading “FDA Approves Blueprint Cancer Drug Targeting RET Genetic Signatures”
Bio Roundup: Pharma M&A, AbbVie’s Cancer Bet, Biofourmis Bucks & More
Labor Day is just around the corner and many people are looking forward to a last chance to celebrate the waning days of summer. But ahead of the holiday weekend, biopharmaceutical companies were hard at work closing deals. Food conglomerate Nestlé is delving deeper into pharmaceuticals with its $2.6 billion deal to acquire Aimmune Therapeutics, … Continue reading “Bio Roundup: Pharma M&A, AbbVie’s Cancer Bet, Biofourmis Bucks & More”
Biofourmis Hauls In $100M to Scale Digital Therapeutics Globally
Biofourmis, a digital therapeutics startup that employs wearable devices and data analytics to help treat patients, has raised $100 million to scale its offerings globally and develop new products that further blur the lines that once clearly separated drugs from medical devices. The new capital, a Series C round of funding, was led by SoftBank … Continue reading “Biofourmis Hauls In $100M to Scale Digital Therapeutics Globally”
Lumen Bioscience Lands $16M to Engineer “Edible” Antibody Drugs
If Lumen Bioscience achieves its goals, patients will be able to take its drugs the same way some people supplement breakfast: a spoonful heaped onto a bowl of cereal or mixed into juice. The startup harnesses spirulina, protein-rich cyanobacteria touted by many health enthusiasts as a “superfood.” Lumen CEO Brian Finrow (pictured above, right) acknowledges … Continue reading “Lumen Bioscience Lands $16M to Engineer “Edible” Antibody Drugs”
Gilead Sciences Places $120M Bet on a Jounce Therapeutics Cancer Drug
Gilead Sciences is opening up its checkbook yet again to add another cancer therapy to its pipeline, this time committing $120 million to Jounce Therapeutics for rights to an antibody drug approaching clinical testing. The Jounce (NASDAQ: [[ticker:JNCE]]) drug, JTX-1811, is intended to selectively deplete regulatory T cells—the type of immune cells that suppress the … Continue reading “Gilead Sciences Places $120M Bet on a Jounce Therapeutics Cancer Drug”
Early Bird Sale for Xcelerate at Biotech Week Boston Ends This Friday
Don’t miss out on savings for this year’s online Xcelerate Keynote Series at Biotech Week Boston – our early bird sale ends this Friday! Speakers include: Jeff Baker – Deputy Director, Office of Biotechnology Products, FDA Michelle McMurry-Heath – President & CEO, BIO John Maraganore – CEO, Alnylam Pharmaceuticals Yvonne Greenstreet – Chief Operating Officer, Alnylam Pharmaceuticals Andrew Plump … Continue reading “Early Bird Sale for Xcelerate at Biotech Week Boston Ends This Friday”
Akcea Therapeutics Is Returning to Parent Ionis Pharma in $500M Buyout
[Updated 9/1/2020, 7:58 a.m. See below.] Akcea Therapeutics is returning to its parent company, Ionis Pharmaceuticals, in a $500 million deal that brings an end to a tumultuous three years as a standalone company. The definitive agreement announced Monday calls for Carlsbad, CA-based Ionis (NASDAQ: [[ticker:IONS]]) to pay $18.15 for each share of Akcea (NASDAQ: … Continue reading “Akcea Therapeutics Is Returning to Parent Ionis Pharma in $500M Buyout”