Matthew Roden (MPM Capital)

Af­ter lead­ing Cel­gene buy­out, Matthew Ro­den leaves Bris­tol My­ers Squibb for ven­ture cap­i­tal firm

The past four years at Bris­tol My­ers Squibb have been busy for Matthew Ro­den. The se­nior VP and head of en­ter­prise strat­e­gy was be­hind the com­pa­ny’s ini­tial plan fol­low­ing its ma­jor $74 bil­lion Cel­gene buy­out last year. But now, it’s on to green­er pas­tures.

Ro­den’s been tapped as ex­ec­u­tive part­ner at Cam­bridge, MA-based ven­ture cap­i­tal firm MPM Cap­i­tal —  a move he said has al­ways been part of his long-term goals.

“Go­ing in­to ven­ture cap­i­tal was part of my long-term plan … and it did hap­pen a lit­tle bit faster than I ex­pect­ed. But cer­tain op­por­tu­ni­ties have opened up over the past year. And … MPM specif­i­cal­ly, I’ve al­ways had a huge re­spect for their track record and for the peo­ple there,” Ro­den told End­points News.

Ro­den, a self-de­scribed “sci­ence nerd,” said he knew ear­ly on in grad­u­ate school that he want­ed to mar­ry his in­ter­ests in cap­i­tal mar­kets, sci­ence and tech­nol­o­gy. In 2005, he joined Cred­it Su­isse as an as­so­ciate an­a­lyst, where he worked for a year be­fore be­com­ing vice pres­i­dent at JP Mor­gan. Then in 2010, he jumped to the Swiss in­vest­ment bank­ing firm UBS as biotech eq­ui­ty re­search sec­tor head.

On the BMS R&D lead­er­ship team rep­re­sent­ing ex­ter­nal in­no­va­tion, Ro­den led teams on more than 100 busi­ness de­vel­op­ment trans­ac­tions, in­clud­ing the Cel­gene ac­qui­si­tion, which gave the com­pa­ny late-stage can­di­dates like im­munol­o­gy and in­flam­ma­tion drugs TYK2 and ozan­i­mod.

“You know I ac­com­plished a lot in a rel­a­tive­ly short pe­ri­od of time at BMS, which made it pos­si­ble to … ac­cel­er­ate my long-term plan of mov­ing to ven­ture,” he said.

At MPM, Ro­den will be re­spon­si­ble for iden­ti­fy­ing and as­sess­ing new tech­nolo­gies and ad­vis­ing port­fo­lio ex­ec­u­tives on busi­ness and clin­i­cal strate­gies.

“I want to be part of build­ing great biotech com­pa­nies — the next wave in­no­va­tors,” he said.

“Matt’s ex­pe­ri­ence and suc­cess as a bio­phar­ma­ceu­ti­cal ex­ec­u­tive, a biotech eq­ui­ty re­search an­a­lyst, and a sci­en­tist bring a tri­fec­ta of unique and valu­able in­sight to our in­vest­ment team and the MPM port­fo­lio,” Ans­bert Gadicke, MPM co-founder and man­ag­ing di­rec­tor, said in a state­ment.

The Big Phar­ma dis­card pile; Lay­offs all around while some biotechs bid farewell; New Roche CEO as­sem­bles top team; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

With earnings seasons in full swing, we’ve listened in on all the calls so you don’t have to. But news is popping up from all corners, so make sure you check out our other updates, too.

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Sen. Ron Wyden (D-OR) (Francis Chung/E&E News/Politico via AP Images)

In­fla­tion re­bates in­com­ing: Wyden calls on CMS to move quick­ly as No­var­tis CEO pledges re­ver­sal

Senate Finance Chair Ron Wyden (D-OR) this week sent a letter to the head of the Centers for Medicare & Medicaid Services seeking an update on how and when new inflation-linked rebates will take effect for drugs that see major price spikes.

The newly signed Inflation Reduction Act requires manufacturers to pay a rebate to Medicare when they increase drug prices faster than the rate of inflation.

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Trodelvy notch­es a win in most com­mon form of breast can­cer

Following a promise last year to go “big and fast in breast cancer,” Gilead has secured a win for Trodelvy in the most common form.

The drug was approved to treat HR-positive, HER2-negative breast cancer patients who’ve already received endocrine-based therapy and at least two other systemic therapies for metastatic cancer, Gilead announced on Friday.

Trodelvy won its first indication in metastatic triple-negative breast cancer back in 2020, and has since added urothelial cancer to the list. HR-positive HER2-negative breast cancer accounts for roughly 70% of new breast cancer cases worldwide per year, according to senior VP of oncology clinical development Bill Grossman, and many patients develop resistance to endocrine-based therapies or worsen on chemotherapy.

John Roberts, exiting Vyant Bio CEO

Neu­rode­gen­er­a­tive biotech Vyant warns of po­ten­tial wind-down

The CEO and chief scientific officer of Vyant Bio are out the door as the little-known but publicly-listed neurodegenerative biotech searches for an exit or, if all else fails, a wind-down.

The soul-searching bookends a winding journey for the biotech, which rebranded and transitioned from diagnostics company Cancer Genetics in 2021 after a merger with StemoniX. That came after a failed merger attempt with NovellusDx (now Fore Biotherapeutics) in 2018. In the last few years, units have been sold off and the stock price $VYNT has plummeted from the $30 range to penny stock territory.

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Raymond Stevens, Structure Therapeutics CEO

Be­hind Fri­day's $161M IPO: A star sci­en­tist, GPCR drug dis­cov­ery and a plan to chal­lenge phar­ma in di­a­betes

What does it take to pull off a $161 million biotech IPO these days?

In Structure Therapeutics’ case, it means having a star scientist co-founder paired with the computational drug discovery company Schrödinger, $198 million in private funding from blue-chip investors, almost six years of research work on G protein-coupled receptors and a slate of oral, small-molecule drugs, with an eye on the huge and growing diabetes and weight-loss market.

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Medicago's vaccine greenhouse (Medicago via YouTube)

Cana­di­an plant-based vac­cine de­vel­op­er Med­ica­go shut­ters months af­ter lay­offs

Plant-based Covid-19 vaccine developer Medicago shut down this week with little fanfare. And its two subsidiaries, Medicago R&D and Medicago USA, are also closing their doors, according to a company news release.

The lone shareholder left standing, Japan-based Mitsubishi Chemical Group, “has determined not to make further investments in Medicago and to proceed with an orderly wind-up of its business and operations in Canada and in the United States.”

Af­ter 13 years, Ramy Mah­moud steps in­to CEO seat at Opti­nose; Ru­pert Vessey set to ex­it Bris­tol My­ers in Ju­ly

After 13 years as president and COO at Optinose, Ramy Mahmoud has stepped into a new role as its CEO. He is taking the place of Peter Miller, who stepped down earlier this week, though Miller is still staying with the company as a consultant.

In 2010, the two business partners joined Optinose to take it in a new direction, transforming it from a delivery platform to product company. They previously worked together at Johnson & Johnson, when Miller was president at Janssen and Mahmoud headed medical affairs. Miller said after he learned about Optinose, “I did what I always do, which is find people smarter than me to talk with about the idea. And the first person I called was Ramy … and I said, ‘Hey, Ramy, what do you think of this technology?’”

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Simba Gill, Evelo Biosciences CEO

Sim­ba Gill stay­ing on at Evelo to weath­er lay­offs and a PhII fail

Simba Gill will be staying put as CEO of Evelo Biosciences for now.

Gill announced last year that he would be leaving the head position at Evelo to take on the role of executive partner at Flagship Pioneering. He was aiming to stay on until a successor was selected, but there’s a new course of action in the wake of a Phase II miss and a reduced headcount.

“I want to emphasize that I remain personally committed to Evelo and staying on to lead the organization. I continue to believe that Evelo is a remarkable opportunity in terms of the science, the platform, the type of products that we’re able to produce, and most importantly, the potential of millions of patients suffering from all stages of inflammatory disease,” Gill said on a conference call.

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Te­va drops out of in­dus­try trade group PhRMA

Following in AbbVie’s footsteps, Teva confirmed on Friday that it’s dropping out of the industry trade group Pharmaceutical Research and Manufacturers of America (PhRMA).

Teva didn’t give a reason for its decision to leave, saying only in a statement to Endpoints News that it annually reviews “effectiveness and value of engagements, consultants and memberships to ensure our investments are properly seated.”

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