Af­ter decades in the big leagues, Mar­tin Mack­ay is go­ing small — and he's de­light­ed

Mar­tin Mack­ay has spent more than three decades in drug dis­cov­ery and de­vel­op­ment, reach­ing top R&D po­si­tions at Pfiz­er, As­traZeneca and Alex­ion, where he en­joyed big bud­gets in pur­suit of block­buster drugs and styl­ish­ly sur­vived a se­ries of big cor­po­rate shake­ups.

Stephen Uden

Now, the Scot­tish re­search ex­ec and some of his ex-Alex­ion col­leagues are go­ing small, in a big way. Mack­ay, for­mer Alex­ion SVP Stephen Uden and for­mer Alex­ion tax chief Jef­frey Fry­er band­ed to­geth­er af­ter the big Lud­wig Hantson purge in 2017 to start Rally­bio at the be­gin­ning of this year. And some mar­quee ven­ture groups are bankrolling their ef­fort with a $37 mil­lion A round.

“I just feel we have some meds left in us,” says Mack­ay. 

Jef­frey Fry­er

The cash will go to build­ing out a small team at Rally­bio, where Mack­ay and his co-founders have been scout­ing rare dis­ease drugs in acad­e­mia and phar­ma, plan­ning to start build­ing a pipeline of drugs with an eye to ex­e­cut­ing a quick piv­ot to reg­u­la­tors.

5AM Ven­tures, Canaan Part­ners, and New Leaf Ven­ture Part­ners led the fi­nanc­ing, with Con­necti­cut In­no­va­tions lend­ing some state sup­port for the Farm­ing­ton, CT-based com­pa­ny.

“It would be eas­i­er to say what we’re not go­ing to do,” Mack­ay tells me. He ticks off the don’t-go-there list: On­col­o­gy, in­fec­tious dis­eases, oph­thal­mol­o­gy and vac­cines. They’re stick­ing with what they know: an­ti­bod­ies, small mol­e­cules and en­gi­neered pro­teins.

There are no ge­o­graph­ic bound­aries to their search. Uden has worked a lengthy stint in Japan. They all have ex­ten­sive Eu­ro­pean ex­pe­ri­ence, Mack­ay’s old stomp­ing grounds be­fore in­vestors drove a purge at As­traZeneca that brought Pas­cal So­ri­ot to the helm. The US is home, but they’re not lim­it­ing them­selves to the big hubs in Boston/Cam­bridge and the Bay Area.

Right now, they have the mon­ey to get to work and some lines on some ear­ly-stage as­sets.

“We’d be look­ing for ear­ly proof-of-con­cept to piv­ot to a reg­u­la­to­ry OK,” says Mack­ay, who’s tak­ing the CEO post at the new com­pa­ny.

Now with a staff of about 8, Mack­ay plans to build a group of 15 sci­en­tists and one busi­ness per­son to keep an eye on the num­bers. He plans to keep it sim­ple — there’s no ad­min­is­tra­tive as­sis­tant to book trav­el — with a bare­bones bud­get.

Mack­ay knows what it’s like to man­age glob­al re­search groups. Now he wants to see just how nim­ble a lit­tle biotech can be.


Im­age: Mar­tin Mack­ay. NO­VO NORDISK

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Biotech is one of the smartest, best educated industries on the planet. PhDs abound. We’ve had a long enough track record to see a new generation of savvy, experienced execs coming together to run startups.

And in these times, they are being tested as never before.

Biotech is going through quite a rough patch right now. For 2 years, practically anyone with a decent resume and some half-baked ideas on biotech could start a company and get it funded. The pandemic made it easy in many ways to pull off an IPO, with traditional road shows shut down in exchange for a series of quick Zoom meetings. Generalist investors flocked as the numbers raised soared into the stratosphere.

Martin Shkreli (Dennis Van Tine/MediaPunch/IPX)

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Martin Shkreli, the infamous biotech CEO who made headlines for his jeering assault on a legion of critics in and out of Congress, is back on the streets after 4 years inside a federal penitentiary.

Shkreli’s attorney put out a statement Wednesday afternoon saying that the “pharma bro” had been transferred to a halfway house in New York with a few more months to go under federal custody, slated to end September 14. Attorney Benjamin Brafman acknowledged the release and vowed that he and Shkreli are keeping quiet.

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Locus CEO and co-founder Paul Garofolo

Lo­cus pulls in a mod­est Se­ries B as it at­tempts to em­u­late on­col­o­gy's pre­ci­sion med­i­cine mod­el in an­tibac­te­ri­als

Despite a significant bear market affecting the public biotech sector, private companies are still managing to pull in VC-backed funding rounds. The latest such round comes out of North Carolina’s research triangle for a precision antibacterial drug maker.

Locus Biosciences closed a $35 million Series B round Wednesday morning, featuring some notable names including Artis Ventures, Tencent Holdings, Viking Global Investors, Discovery Innovations and Johnson and Johnson Innovation, the investment arm of J&J. CEO and co-founder Paul Garofolo told Endpoints News that the funds will be used to advance the company’s lead candidate, dubbed LBP-EC01.

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While calls to diversify clinical trials have grown louder in recent years — gaining support from federal agencies such as the FDA and NIH — progress has largely stalled, according to a new report from the National Academies of Sciences, Engineering and Medicine.

Swaths of patients in racial and ethnic minority groups, as well as LGBTQIA+, pregnant and older adult populations continue to be left out of clinical trials. While some advances have been made in the last 30 years — women now account for roughly half of clinical trial participants — growth in other areas remains stagnant, according to the report, which was mandated by Congress and sponsored by the NIH.

Paul Chaplin, Bavarian Nordic president and CEO

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It seems that smallpox vaccination production is weighing on the mind of the US government. And manufacturer Bavarian Nordic is the latest company to benefit.

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Frank Pallone (D-NJ), House Energy and Commerce Committee chair (Kevin Dietsch/Pool via AP Images)

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The House Energy and Commerce Committee on Wednesday offered a rare show of bipartisan support for a bill that would provide the FDA with user fees for the next five years.

The committee voted 55-0 to advance the quinquennial user fee bill to the full House floor, which if approved, will allow the FDA to use biopharma funds to hire new reviewers, and hit new marks as outlined in the user fee deals that the FDA and biopharma companies forged over the past several years.

Lina Khan, FTC chair (Saul Loeb/Pool via AP)

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The Senate last week voted along party lines, 51-50, with Vice President Kamala Harris casting the tie-breaker, to make President Biden appointee Alvaro Bedoya the deciding vote on a split 2-2 Federal Trade Commission.

The addition of Bedoya to the FTC could not only spell more trouble for biopharma M&A activity, as he may align with his Democrat partners to break the FTC ties, but it may also mean that FTC Chair Lina Khan has what she needs to move forward on a study around the pharma middlemen known as pharmacy benefit managers.