Vertex’s big move beyond cystic fibrosis hits a wall with lung drug failure
Vertex is pulling the plug on a treatment for a rare, inherited lung disease after the prospect caused abnormally high levels of liver enzymes in a phase 2 study.
Vertex is pulling the plug on a treatment for a rare, inherited lung disease after the prospect caused abnormally high levels of liver enzymes in a phase 2 study.
Eli Lilly is snapping up Disarm Therapeutics, a biotech working to “disarm” the SARM1 protein, which plays a key role in neurodegeneration. The deal is worth $135 million upfront but Disarm investors could reap as much as $1.225 billion down the line if Lilly translates its preclinical work to marketed products.
Otsuka’s guadecitabine has failed to improve overall survival in two phase 3 blood cancer clinical trials. Guadecitabine has now failed three late-phase trials, leaving Otsuka to weigh up the next steps for a hypomethylating agent it acquired in its $886 million takeover of Astex Pharmaceuticals.
In February, Sanofi CEO Paul Hudson cut four top executives as part of a bid to simplify the company’s management structure. Among them was Ameet Nathwani, M.D., its chief medical officer and chief digital officer, who—like many a colleague before him—made the leap from Big Pharma to small biotech.
Cyclerion Therapeutics has stopped development of olinciguat in sickle cell disease after getting a look at data from a phase 2 trial. The setback prompted Cyclerion to switch its focus to IW-6463 and the treatment of diseases of the central nervous system.
It may have taken 18 months, but Codiak Biosciences is finally on the public markets. The exosome biotech pulled off an $83 million Wall Street debut, falling short of the $100 million it sought in September when it filed to go public for the second time.
Flagship Pioneering has named Tuyen Ong as CEO-partner. The new role sees the ex-Biogen executive join the Flagship senior leadership and serve as CEO of one of its gene therapy startups.
Gene therapies are some of the hottest areas of investment in the biotech world, as are artificial-intelligence-assisted research methodologies, and “Dyno’s right there at the intersection of these two things,” Dyno CEO Eric Kelsic said.
This summer, Nimbus Therapeutics CEO Jeb Keiper assured us the company wasn’t just a one-hit wonder. Now, it’s reeling in $60 million and signing on two new investors, RA Capital Management and BVF Partners, to prove that out.
No, it’s not a case of déjà vu. Canaan Partners raised $800 million in its 12th fund to back early-stage healthcare and technology companies, equaling the sum it picked up in its 11th fund three years ago.