Two weeks after MorphoSys filed for FDA review of its experimental treatment for a form of lymphoma, the company has struck a deal with Incyte to further develop and commercialize the therapy in the US and around the world. According to financial terms announced Monday, Incyte (NASDAQ: [[ticker:INCY]]) is paying MorphoySys (NASDAQ: [[ticker:MOR]]) $750 million … Continue reading “Incyte Commits $900M to MorphoSys for Rights to Lymphoma Drug”
Generation Bio Pockets $110M for Next Wave of Gene Therapy, IPO Plans
JP Morgan’s annual healthcare conference convenes in San Francisco this week and Generation Bio CEO Geoff McDonough is betting gene therapy will be among the discussion topics. While such therapies now offer ways to address some rare diseases that previously had no treatment, they also have limitations. Generation Bio is among the new wave of … Continue reading “Generation Bio Pockets $110M for Next Wave of Gene Therapy, IPO Plans”
Roche Pays $40M to Use Amunix Pharma’s Half-Life Extension Tech
Roche will pay Amunix Pharmaceuticals $40 million up front to use the company’s proprietary technology to discover and develop new drugs outside of the oncology space. The clinically validated platform—XTEN—is a proprietary unstructured polypeptide, which when attached to molecules, can extend the half-life of drugs with low associated immunogenicity, according to Amunix. As per the … Continue reading “Roche Pays $40M to Use Amunix Pharma’s Half-Life Extension Tech”
Allogene, SpringWorks to Test Drug Combo in Multiple Myeloma Trial
Springworks Therapeutics and Allogene Therapeutics have agreed to collaborate on a clinical trial to test a combination of an investigational cancer drug from each biotech in patients with multiple myeloma. The experimental treatment from Springworks, nirogacestat, is one of the four drug compounds that the company took off the Pfizer (NYSE: [[ticker:PFE]]) shelf when it … Continue reading “Allogene, SpringWorks to Test Drug Combo in Multiple Myeloma Trial”
Neurocrine, in Second Epilepsy Deal, Pairs With Swiss Biotech Idorsia
Neurocrine Biosciences is doubling down on epilepsy, striking its second agreement in as many months with a new deal that grants it the option to license an investigational treatment for a rare form of the disease. The San Diego-based drug developer (NASDAQ: [[ticker:NBIX]]) last month struck a deal with Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]) that added … Continue reading “Neurocrine, in Second Epilepsy Deal, Pairs With Swiss Biotech Idorsia”
Eli Lilly Gets Skin in the Eczema Game With $1.1B Deal for Dermira
Eli Lilly has agreed to acquire dermatology drug developer Dermira and its late-stage atopic dermatitis drug for $1.1 billion. Lilly (NYSE: [[ticker:LLY]]) will pay $18.75 per share, a 2.2 percent premium over Dermira’s closing stock price on Thursday. But the deal price represents an 86 percent premium over the average price of Dermira shares over … Continue reading “Eli Lilly Gets Skin in the Eczema Game With $1.1B Deal for Dermira”
Biotech Roundup: Drug Pricing Promises, Bone Disease Data, IPO Plans & More
A letter signed by 215 people involved in the biopharma industry, including CEOs and investors, published Wednesday promised to put the “interests of patients first.” Six CEOs, including five who run public companies, co-authored the letter. Signatories agreed to what they dubbed a New Commitment to Patients, a list of “core principals and actions” promising … Continue reading “Biotech Roundup: Drug Pricing Promises, Bone Disease Data, IPO Plans & More”
Biogen Teams Up With Startup CAMP4 to Scout for New Neuro Drugs
[Updated 2:42 p.m. See below.] The next neuroscience drug that joins Biogen’s pipeline might come from the research of startup CAMP4 Therapeutics. The two Cambridge, MA-based companies are starting an alliance that will use CAMP4’s technology to find genetic targets that could lead to new drugs. Biogen (NASDAQ: [[ticker:BIIB]]) is paying its new partner $15 … Continue reading “Biogen Teams Up With Startup CAMP4 to Scout for New Neuro Drugs”
DTx Pharma Raises $10.6M to Advance New Way to Deliver RNA Drugs
RNA medicines can treat some diseases by hitting targets otherwise considered “undruggable” by small molecules and biologics, but protecting the nucleic acids from degradation and getting the therapies to where they are needed in the body can be difficult. San Diego startup DTx Pharma has raised $10.6 million to advance technology it has developed that … Continue reading “DTx Pharma Raises $10.6M to Advance New Way to Deliver RNA Drugs”
Saniona Taps Former Sobi North America President Rami Levin as New CEO
Saniona, a Danish clinical-stage biotech company focused on rare diseases, named Rami Levin its new CEO. Levin was most recently president of the North America unit of Sobi, a rare disease biopharma headquartered in Sweden. He succeeds Jørgen Drejer, a Saniona founder, who will continue as chief scientific officer. Levin, who will be based in … Continue reading “Saniona Taps Former Sobi North America President Rami Levin as New CEO”
Ionis Adds Former Grail Chief Commercial Officer to Executive Team
Ionis Pharmaceuticals (NASDAQ: [[ticker:IONS]]) appointed Onaiza Cadoret-Manier as its chief corporate development and commercial officer, a newly created position. Cadoret-Manier was most recently chief commercial officer at Grail, a Menlo Park, CA-based startup spun out from Illumina (NASDAQ: [[ticker:ILMN]]) that is working to develop tests to detect cancer at its earliest stages. She was previously … Continue reading “Ionis Adds Former Grail Chief Commercial Officer to Executive Team”
Solid Bio Restructures to Get Halted Gene Therapy Study Back on Track
Solid Biosciences is slashing its workforce, including two top executives, in order to devote the company’s remaining resources to its experimental gene therapy for Duchenne muscular dystrophy. The corporate restructuring announced Thursday comes two months after the FDA placed a hold on the study after safety problems emerged that were linked to the gene therapy, … Continue reading “Solid Bio Restructures to Get Halted Gene Therapy Study Back on Track”
UK Startups Double in Number Backed By Larger Scale Investments: Report
Investors pumped £2.8 billion ($3.67 billion) into UK-based startups between 2014-2018, marking a four-fold increase from the previous five-year time period, according to a report published by the Nottingham-based incubator, BioCity. Among the biggest changes in this space over the past five years has been an increase in the scale of investments made into early-stage … Continue reading “UK Startups Double in Number Backed By Larger Scale Investments: Report”
Empirico Raises $17M, Inks 3-Year Antisense Collaboration with Ionis
Empirico, a biotech that has developed tools to analyze genomics data and use those insights to identify potential therapeutic targets, has signed a collaboration deal with antisense drug developer Ionis Pharmaceuticals that includes a $10 million equity investment. The 14-person startup, founded in 2017, has developed technology that it says uses big data sets, human … Continue reading “Empirico Raises $17M, Inks 3-Year Antisense Collaboration with Ionis”
Novome Lands $33M to Tweak a Gut Microbe Into a Metabolic Therapy
Food gurus tout the benefits of eating spinach and kale, but some people are better off leaving them on the plate. A molecule in these leafy greens contributes to hyperoxaluria, a condition characterized by kidney stones at first and serious organ damage later. Novome Biotechnologies is developing a gut microbiome treatment for hyperoxaluria. The company … Continue reading “Novome Lands $33M to Tweak a Gut Microbe Into a Metabolic Therapy”
Mirati Adds Execs With Commercial Experience at Spark, Bristol-Myers
Cancer drug developer Mirati Therapeutics is beefing up its leadership team as its lead programs advance through human testing. The San Diego-based company (NASDAQ: [[ticker:MRTX]]) this week added two executives to its C-suite as part of a strategic effort to ready the biotech for its potential transformation into a commercial company. For San Diego, it’s … Continue reading “Mirati Adds Execs With Commercial Experience at Spark, Bristol-Myers”
Novo Holdings Repositions Antibiotics Funding Amid “Deteriorated” Market
Novo Holdings is repositioning the strategic focus of its REPAIR Fund in order to provide later-stage support to its portfolio companies, as the struggling antibiotics industry faces a dearth of investment. The Danish investor launched its REPAIR Impact Fund in 2018. An acronym for “Replenishing and Enabling the Pipeline for Anti-Infective Resistance,” the fund has … Continue reading “Novo Holdings Repositions Antibiotics Funding Amid “Deteriorated” Market”
Magenta’s Cooke Joins IFM Therapeutics as Chief Scientific Officer
IFM Therapeutics has appointed Michael Cooke to serve as its chief scientific officer, the same position he held most recently at Magenta Therapeutics. Before Magenta, Cooke was a founding scientist at the Genomics Institute of the Novartis Research Foundation, where he held several positions. Last month, Boston-based IFM raised $55.5 million to launch its third … Continue reading “Magenta’s Cooke Joins IFM Therapeutics as Chief Scientific Officer”
Eli Lilly Veteran Enrique Conterno Named FibroGen CEO
Enrique Conterno, a 27-year veteran of Eli Lilly, has been appointed CEO of FibroGen (NASDAQ: [[ticker:FGEN]]). He is also joining the San Francisco company’s board of directors. Conterno retired from Lilly last year, where he was most recently president of Lilly USA. In his new role Conterno takes over from Jim Schoeneck, FibroGen’s interim CEO … Continue reading “Eli Lilly Veteran Enrique Conterno Named FibroGen CEO”
Apellis Rare Blood Disease Drug Tops Alexion’s in Head-to-Head Test
Apellis Pharmaceuticals wants to offer patients who have an ultra-rare blood disease another treatment option. The drug developer Tuesday revealed late-stage clinical trial data suggesting its experimental therapy works better than a blockbuster Alexion Pharmaceuticals medicine that is currently the standard of care. The Apellis (NASDAQ: [[ticker:APLS]]) drug, pegcetacoplan, is in testing as a treatment … Continue reading “Apellis Rare Blood Disease Drug Tops Alexion’s in Head-to-Head Test”
Takeda to Fund AI Projects at MIT as Part of New 3-Year Collaboration
Takeda is teaming up with MIT to advance projects intended to enhance its understanding of how to best use artificial intelligence to solve some of the biopharma industry’s biggest challenges. The Japanese company (NYSE: [[ticker:TAK]]) will fund six to 10 projects per year for three years. Financial terms of the agreement, which includes a potential … Continue reading “Takeda to Fund AI Projects at MIT as Part of New 3-Year Collaboration”
Celgene-Seeded PharmAkea Sells Last Fibrotic Drug Candidate to Galecto
When a group of scientists from Amira Pharmaceuticals wanted to start a new biotech after the company’s 2011 acquisition by Bristol-Myers Squibb, Celgene provided seed funding. Eventually Celgene kicked in $35 million more for a research collaboration, an equity stake, and an exclusive option to acquire the startup, PharmAkea Therapeutics. But the partnership fizzled, and … Continue reading “Celgene-Seeded PharmAkea Sells Last Fibrotic Drug Candidate to Galecto”
Black Diamond Lines Up IPO as Lead Cancer Drug Nears Clinic
Cancer research is leading some companies to molecular targets that have eluded new medicines. Phase 1-ready biotech Black Diamond Therapeutics hopes its approach to such cancer targets leads it to the public markets. Black Diamond filed paperwork with securities regulators late Friday for an IPO. The Cambridge, MA-based firm set a $100 million goal for … Continue reading “Black Diamond Lines Up IPO as Lead Cancer Drug Nears Clinic”
BioIntervene Raises $30M to Move Nerve Pain Drug Into the Clinic
In the past seven years BioIntervene has been working to develop “ultra-selective” compounds to target an adenosine receptor associated with pain relief. Now the San Diego-based biotech has $30 million and a chief scientific officer, Charles Cohen, to guide its lead compound, BIO-205, into human testing for neuropathic pain. The company announced the Series A … Continue reading “BioIntervene Raises $30M to Move Nerve Pain Drug Into the Clinic”
Rhythm Pharma CEO Gottesdeiner to Step Down After FDA Filing
Rhythm Pharmaceuticals (NASDAQ: [[ticker:RYTM]]) announced late Monday that president and CEO Keith Gottesdiener will step down from his executive roles and from the board of directors after the company submits its lead drug for FDA review. Gottesdiener has been Rhythm CEO and board member since 2011. A search for his successor is underway. Boston-based Rhythm’s … Continue reading “Rhythm Pharma CEO Gottesdeiner to Step Down After FDA Filing”
BioIntervene Taps Charles Cohen as Its Chief Scientific Officer
BioIntervene on Monday named Charles Cohen as its chief scientific officer. Cohen was most recently vice president of biology at Xenon Pharmaceuticals (NASDAQ: [[ticker:XENE]]). His experience also includes positions at Vertex Pharmaceuticals (NASDAQ: [[ticker:VRTX]]), Merck (NYSE: [[ticker:MRK]]), and Bayer. San Diego-based BioIntervene, which recently raised $30 million in a Series A financing round led by MPM … Continue reading “BioIntervene Taps Charles Cohen as Its Chief Scientific Officer”
Phathom Pharma Appoints Martin Gilligan as Chief Commercial Officer
Phathom Pharmaceuticals (NASDAQ: [[ticker:PHAT]]) on Monday named Martin Gilligan as its chief commercial officer. Gilligan was most recently a corporate vice president at Celgene, where he led marketing, market access, and business development for the Summit, NJ-based biopharma’s inflammation and immunology unit. Phathom, in Florham Park, NJ, is in late-stage development of vonoprazan—an acid blocker whose … Continue reading “Phathom Pharma Appoints Martin Gilligan as Chief Commercial Officer”
Merck Ramps Up KRAS Chase Through Licensing Deal With Taiho, Astex
The KRAS gene has become a hot target for cancer research for a growing number of drug developers. Merck, which is already testing a KRAS vaccine candidate, is now spreading its bets with a licensing deal for small molecule KRAS drugs being developed by two Otsuka Pharmaceutical subsidiaries. Merck (NYSE: [[ticker:MRK]]) is paying $25 million … Continue reading “Merck Ramps Up KRAS Chase Through Licensing Deal With Taiho, Astex”
China’s CF PharmTech Raises $90M to Advance Respiratory Drug Development
The China-based pharmaceutical company CF PharmTech has raised $90 million to support its pipeline of respiratory drugs. The Series E investment round was led by New Alliance Capital. New investors CR-CP Life Science Fund, Finnova Capital, GT Capital, Co-stone Asset Management, Xiangcheng Financial Holdings, and Everest Venture Capital, joined earlier investors, including Oriza Holdings, Longmen … Continue reading “China’s CF PharmTech Raises $90M to Advance Respiratory Drug Development”
Bio Roundup: FDA Approvals, Intrexon’s Shift, Melinta Bankruptcy & More
In the week leading up to Christmas, six drugs won FDA approvals. The decisions covered insomnia, migraine, and several different forms of cancer. The FDA’s final tally for the year totaled 48 new drug approvals. If you’re keeping score, that compares with 59 approvals in 2018 and 46 in 2017. Most of the nods went to … Continue reading “Bio Roundup: FDA Approvals, Intrexon’s Shift, Melinta Bankruptcy & More”
After Antitrust Challenges, Illumina and PacBio Throw in Towel on Merger
DNA sequencing machine maker Illumina will have to find another way to “read” long pieces of genetic material as well as short stretches, the genomic giant’s bailiwick. Its $1.2 billion proposal to acquire long-read capability by buying rival Pacific Biosciences ended Thursday following challenges from antitrust regulators. The deal foundered about 14 months after the … Continue reading “After Antitrust Challenges, Illumina and PacBio Throw in Towel on Merger”
Aridis Promotes Michael Nazak to Chief Financial Officer
Aridis Pharmaceuticals (NASDAQ: [[ticker:ARDS]]) has appointed Michael Nazak to the role of chief financial officer. He succeeds Fred Kurland, who has retired but will continue working with the San Jose, CA-based company as a consultant. Nazak joined Aridis in late 2018 as the vice president of finance. Previously, he served as senior vice president of … Continue reading “Aridis Promotes Michael Nazak to Chief Financial Officer”
Coughlin Takes Over as Chief Medical Officer at Rubius
Rubius Therapeutics (NASDAQ: [[ticker:RUBY]]) out of Cambridge, MA, has named Christina Coughlin as the company’s chief medical officer, as Chris Carpenter, who holds the position until January 6, transitions to a scientific advisory role. Coughlin is a trained oncologist and immunologist and joins Rubius from Tmunity Therapeutics, where she was the chief medical officer. Prior … Continue reading “Coughlin Takes Over as Chief Medical Officer at Rubius”
No More Fish or Fruit: Intrexon Turns SynBio Focus to Human Health
Intrexon has spent two decades designing and building DNA sequences for applications in healthcare, food, energy, and the environment. Going forward, the synthetic biology company will focus exclusively on human health under the name of a subsidiary whose lead cell therapies are now in early-stage clinical testing in cancer. Germantown, MD-based Intrexon (NASDAQ: [[ticker:XON]]) announced … Continue reading “No More Fish or Fruit: Intrexon Turns SynBio Focus to Human Health”
Rexgenero CEO Talks Importance of “Dialogue” in Cell Therapy Conversations
Cell and gene therapies are becoming more mainstream, but an essential aspect of the drug development process is talking with clinicians about how it would fit into their practice, according to Joe Dupere, CEO of UK-based regenerative medicine company Rexgenero. Rexgenero is advancing an experimental cell therapy for critical limb ischemia, a chronic condition that … Continue reading “Rexgenero CEO Talks Importance of “Dialogue” in Cell Therapy Conversations”
Wave’s Huntington’s Drug Disappoints in Clinical Trial, Stock Sinks
Wave Life Sciences’ stock took another plunge after the company reported early results from its Huntington’s disease study. Cambridge, MA-based Wave Life Sciences (NASDAQ: [[ticker:WVE]]) earlier this week released topline data from its ongoing Phase 1b/2a PRECISION-HD2 trial evaluating WVE-120102. The experimental therapy is being developed for the potential treatment of Huntington’s disease (HD), a … Continue reading “Wave’s Huntington’s Drug Disappoints in Clinical Trial, Stock Sinks”
Investors Go With Gut Ahead of Microbiome Therapy Boom, Says Seventure
French VC firm Seventure is raising over €200 million in a second dedicated fund focused on the microbiome and says the therapeutic space will mature within the next three years. In March, France’s Seventure announced it is looking to raise €200 million ($220 million) in its Health for Life Capital II fund dedicated to the … Continue reading “Investors Go With Gut Ahead of Microbiome Therapy Boom, Says Seventure”
Allergan Wins FDA Nod for First Migraine Pill in New Class of Medicines
The FDA on Monday approved a pill from Allergan to treat migraine in adults. The treatment, ubrogepant (Ubrelvy), is part of a new class of migraine medicines designed to block calcitonin gene-related peptide (CGRP), a protein thought to play a role in pain transmission. Ubrogepant is the first CGRP drug in tablet form to get … Continue reading “Allergan Wins FDA Nod for First Migraine Pill in New Class of Medicines”
Evotec CEO Discusses Ways to Make Drug R&D Faster and Better
Partnering and sharing data will improve the research and development process for all pharmaceutical industry stakeholders, of which there are more than ever, according to a top executive at Evotec. “Imagine that everyone would drill a hole into the ocean to dig for oil alone—it would be largely and heavily inefficient,” said Evotec CEO Werner … Continue reading “Evotec CEO Discusses Ways to Make Drug R&D Faster and Better”
Roche Puts Up Historic $1.15B for Sarepta Duchenne Gene Therapy Deal
Swiss biopharma Roche is betting more than $1 billion that Sarepta Therapeutics, which recently won FDA approval for its second RNA medicine for Duchenne muscular dystrophy, will get its lead gene therapy treatment across the finish line too. The deal, one of the biggest ever US biopharma licensing agreements, gives Roche the right outside of … Continue reading “Roche Puts Up Historic $1.15B for Sarepta Duchenne Gene Therapy Deal”
Healthcare AI Tech is Here, Now We Must Learn to Manage the Data
Pharma and software firms are actively embracing AI and machine learning, but governments may need to lead the way in accessing relevant data, says Molecular Health. Molecular Health, a software firm focused on transforming big data into analysis and prediction tools for healthcare companies, believes biotech is in the early days of using artificial intelligence … Continue reading “Healthcare AI Tech is Here, Now We Must Learn to Manage the Data”
Encoded Makes Chief Regulatory, People & Culture Officer Appointments
Encoded Therapeutics added two people to its C-suite this week. The South San Francisco-based company named Nancy Boman as its chief regulatory officer and Monique Bobadilla as its chief people and culture officer. Encoded, which raised $104 million in June, aims to develop gene therapies to treat diseases the technique currently can’t address. Its lead … Continue reading “Encoded Makes Chief Regulatory, People & Culture Officer Appointments”
Bio Roundup: Amarin’s Approval, FTC v. Illumina, a $120M Deal & More
As national politics dominates the news in the final days of the decade, we at Xconomy are wrapping up the year with some big moves by the FDA, including an approval of the first drug OK’d reduce heart risk in patients with high triglycerides who are already taking statins. Holidays don’t provide immunity to bad … Continue reading “Bio Roundup: Amarin’s Approval, FTC v. Illumina, a $120M Deal & More”
Biogen Strikes Alzheimer’s Deal, Paying $45M for Ionis Tau Drug Rights
When it comes to Alzheimer’s disease, Biogen isn’t putting all of its eggs in the same basket. In the latest development of a multi-drug and multi-disease collaboration, the company has licensed an experimental Ionis Pharmaceuticals compound that works in a different way than the therapies currently in its pipeline for neurodegenerative diseases. On Thursday, Ionis … Continue reading “Biogen Strikes Alzheimer’s Deal, Paying $45M for Ionis Tau Drug Rights”
Takeda Pays Turnstone $120M to Start Alliance on Viral Cancer Therapies
[Updated 12/20/19, 2:51 p.m. See below.] Turnstone Biologics has yet to test its engineered viruses in cancer patients but Takeda Pharmaceutical sees enough promise in the technology to pay $120 million up front to start a partnership developing the biotech’s lead therapeutic candidate. The Takeda (NYSE: [[ticker:TAK]]) payment is a combination of cash, near-term milestones, … Continue reading “Takeda Pays Turnstone $120M to Start Alliance on Viral Cancer Therapies”
Ring Therapeutics Launches to Expand Gene Therapy Viral Vector Options
Ring Therapeutics, a Flagship Pioneering spinout, launched Thursday with ambitious plans to expand the universe of vectors available for gene therapy delivery. Gene therapy, treatments intended to treat disease by inserting a gene instead of using drugs or surgery, has had a banner year, with the second ever such therapy approved this year in the … Continue reading “Ring Therapeutics Launches to Expand Gene Therapy Viral Vector Options”
ArcherDX Raises $55M to Help Physicians Pick Best Cancer Therapies
2020 will be a big year for ArcherDX, says its CEO on the heels of raising $55 million to advance its companion diagnostics platform—which is intended to make precision medicine an option for patients in earlier stages of disease. Headquartered in Boulder, CO, the company will use the Series C funds to expand its global … Continue reading “ArcherDX Raises $55M to Help Physicians Pick Best Cancer Therapies”
FTC Challenges PacBio Acquisition, Says Illumina is a “Monopolist”
About one year ago Illumina agreed to splash out $1.2 billion on Pacific Biosciences, a rival maker of DNA sequencing technology. Now the Federal Trade Commission is looking to block the deal, and says it was meant to steamroll a competitor and maintain Illumina’s “monopolist” position atop the industry. The San Diego-based genomics giant (NASDAQ: … Continue reading “FTC Challenges PacBio Acquisition, Says Illumina is a “Monopolist””
Zafgen’s Path Forward Is Reverse Merger With Chondrial Therapeutics
Zafgen stumbled in clinical trials testing its experimental therapies for metabolic diseases. Going forward, it will have a new name, new management, and a mitochondrial disorder drug from another company. Boston-based Zafgen (NASDAQ: [[ticker:ZFGN]]) has entered a merger agreement with Chondrial Therapeutics, a rare disease drug developer just entering the clinic. Chondrial shareholders will own … Continue reading “Zafgen’s Path Forward Is Reverse Merger With Chondrial Therapeutics”
Orbiting Organoids: Research in Space to Unveil New Neurodegeneration Insight
More than 250 miles above the Earth’s surface aboard the International Space Station, a first-in-kind study of neurodegenerative disease is expected to reveal never-before-seen cell interactions. The National Stem Cell Foundation (NSCF) is funding the study, which is the result of a bi-coastal collaboration between the New York Stem Cell Foundation (NYSCF) Research Institute and … Continue reading “Orbiting Organoids: Research in Space to Unveil New Neurodegeneration Insight”