Amgen backs a fresh raise for AI player GNS Healthcare; SQZ names Agarwal as new CMO
⇨ Amgen Ventures and Alexandria Real Estate Equities have chipped in a fresh $6 million to back GNS Healthcare, which has been developing platform machine learning tech aimed at matching the right drug for a particular patient. “We are witnessing an acceleration in the use of artificial intelligence and machine learning across all industries with GNS leading the way in the life sciences and healthcare industries with data from tens of millions of lives being processed by our platforms,” noted CEO Colin Hill.
⇨ Watertown, MA-based SQZ Biotech has recruited Shefali Agarwal as its new chief medical officer. Agarwal had worked on Tesaro’s development program for Zejula and was an SVP at Curis.
⇨ The struggling penny biotech company MabVax $MBVX has begun to formally explore its “strategic alternatives,” with just about everything on the table. Its stock trades for about 50 cents a share.
⇨ BioDelivery Sciences International $BDSI announced that CEO Mark Sirgo will retire at the end of 2017. Sirgo will remain as vice chairman of the board of directors and he will work with the board to find his successor.
⇨ India’s Dr. Reddy’s Laboratories has outlicensed a “topical high potency steroid” to Encore Dermatology.