Amid a bois­ter­ous fundrais­ing week, Bio­Med­Part­ners airs $107M biotech fund

As the VC dol­lars con­tin­ue to dom­i­nate bio­phar­ma head­lines this week, Swiss VC group Bio­Med­Part­ners AG has an­nounced its own wind­fall: it’s raised an ad­di­tion­al $107 mil­lion in new mon­ey for it’s third ven­ture fund.

The firm, which in­vests in pri­vate ear­ly- to mid-stage com­pa­nies, plans to in­vest in 12 to 15 com­pa­nies with the new fund. In fact, af­ter clos­ing on the new cash last month, Bio­Med­Part­ners al­ready made three in­vest­ments: Car­dior Phar­ma­ceu­ti­cals, a Ger­man biotech that’s de­vel­op­ing heart dis­ease ther­a­pies; Amal Ther­a­peu­tics, a Gene­va com­pa­ny de­vel­op­ing can­cer vac­cines; and Al­le­cra Ther­a­peu­tics SAS, a late-stage an­tibi­otics com­pa­ny near Bio­Med­Part­ners’ head­quar­ters in Basel, Switzer­land.

The VC group said it looks for port­fo­lio com­pa­nies in Switzer­land, Ger­many, and neigh­bor­ing coun­tries of the Eu­ro­pean Union.

“We are proud of hav­ing es­tab­lished Bio­Med­Part­ners as a lead­ing ven­ture group and ear­ly stage life sci­ence in­vestor in Eu­rope over the last fif­teen years since its in­cep­tion,” said Thomas Möller, gen­er­al part­ner at Bio­Med­Part­ners, in a state­ment. “The suc­cess­ful clos­ing of our third eq­ui­ty ven­ture fund is al­so a ma­jor mile­stone for the fu­ture growth of the life sci­ence clus­ter in Switzer­land.”

With the new fund, Bio­Med­Part­ners plans to in­vest in bio­phar­ma, med­ical de­vice, and di­ag­nos­tic com­pa­nies.

Bio­Med­Part­ners’ new fund fol­lows a rather bois­ter­ous week of bio­phar­ma fundrais­ing an­nounce­ments. As of Fri­day morn­ing, we’ve writ­ten about around $700 mil­lion in new deals, in­clud­ing two $100 mil­lion mega-rounds (Gen­er­a­tion Bio and Ru­bius) and one $250 mil­lion round (Viela).

Im­age: Bio­Med­Part­ners Gen­er­al Part­ner Thomas Möller. Bio­Med­Part­ners

Fol­low­ing news of job cuts in Eu­ro­pean R&D ops, Sanofi con­firms it’s of­fer­ing US work­ers an 'ear­ly ex­it'

Ear­li­er in the week we learned that Sanofi was bring­ing out the bud­get ax to trim 466 R&D jobs in Eu­rope, re­tool­ing its ap­proach to car­dio as re­search chief John Reed beefed up their work in can­cer and gene ther­a­pies. And we’re end­ing the week with news that the phar­ma gi­ant has al­so been qui­et­ly re­duc­ing staff in the US, tar­get­ing hun­dreds of jobs as the com­pa­ny push­es vol­un­tary buy­outs with a fo­cus on R&D sup­port ser­vices.

How small- to mid-sized biotechs can adopt pa­tient cen­tric­i­ty in their on­col­o­gy tri­als

By Lucy Clos­sick Thom­son, Se­nior Di­rec­tor of On­col­o­gy Pro­ject Man­age­ment, Icon

Clin­i­cal tri­als in on­col­o­gy can be cost­ly and chal­leng­ing to man­age. One fac­tor that could re­duce costs and re­duce bar­ri­ers is har­ness­ing the pa­tient voice in tri­al de­sign to help ac­cel­er­ate pa­tient en­roll­ment. Now is the time to adopt pa­tient-cen­tric strate­gies that not on­ly fo­cus on pa­tient needs, but al­so can main­tain cost ef­fi­cien­cy.

Why would the FDA ap­prove an­oth­er con­tro­ver­sial drug to spur a woman’s li­bido with these da­ta? And why no ex­pert pan­el re­view?

AMAG Pharmaceuticals’ newly approved drug for spurring women’s sexual desire may never make much money, but it’s a big hit at sparking media attention.

The therapy — Vyleesi (bremelanotide) — got the green light from regulators on Friday evening, swiftly lighting up a range of stories around the world, from The New York Times to The Guardian. Several headlines inevitably referred to it as the “female Viagra,” invoking Pfizer’s old erectile dysfunction blockbuster.

But the two drugs have little in common.

Endpoints News

Basic subscription required

Unlock this story instantly and join 53,300+ biopharma pros reading Endpoints daily — and it's free.

Which top 10 big phar­mas have the most to gain — or lose — over the next 5 years?

When Evaluate Pharma crunched the likely drug sales numbers for the big 10, 2 stood out. 

Takeda, with its big Shire buyout under its belt, is set to almost double its worldwide sales record for 2018 over 5 years, putting it in the big 10 — the 9th spot, to be exact — which is exactly where CEO Christophe Weber wants to be. 

Endpoints News

Basic subscription required

Unlock this story instantly and join 53,300+ biopharma pros reading Endpoints daily — and it's free.

Roger Perlmutter. Merck via webcast

'Our lega­cy mat­ter­s': Mer­ck maps out Keytru­da king­dom while spot­light­ing ad­vances in vac­cines, hos­pi­tal care

“You can for the mo­ment stop tak­ing notes. You can put down your pens and your pad. I have no slides. I have no sub­stan­tive da­ta. I have no pitch.”

So be­gan Roger Perl­mut­ter’s brief ap­pear­ance on­stage at Mer­ck’s first in­vestor day in five years, where he dived in­to the com­pa­ny’s his­to­ry dat­ing back to 1933. The first em­ploy­ees at Mer­ck Re­search Lab­o­ra­to­ries, hand­picked by founder George W. Mer­ck, were crit­i­cal to Mer­ck’s abil­i­ty to achieve clin­i­cal and com­mer­cial suc­cess.

Eli Casdin, Casdin Capital

Eli Cas­din backs Codex­is' plat­form tech with $50M eq­ui­ty buy

About a month af­ter Codex­is notched a deal with No­var­tis $NVS, the Cal­i­for­nia com­pa­ny $CDXS on Thurs­day said long-time in­vestor Cas­din Cap­i­tal is putting up $50 mil­lion in a pri­vate place­ment, which puts the New York-based in­vest­ment firm in con­trol of more than 5% of the pro­tein en­gi­neer­ing play­er’s stock.

Eli Cas­din start­ed his epony­mous in­vest­ment firm in 2012 and dates his re­la­tion­ship with Codex­is back to at least a decade. About three years ago, Cas­din Cap­i­tal be­gan in­vest­ing in the in­dus­tri­al biotech com­pa­ny, af­ter it piv­ot­ed its fo­cus to the life sci­ences — un­der the aus­pices of new chief John Nicols — away from the en­er­gy in­dus­try.

John Reed at JPM 2019. Jeff Rumans for Endpoints News

Sanofi's John Reed con­tin­ues to re­or­ga­nize R&D, cut­ting 466 jobs while boost­ing can­cer, gene ther­a­py re­search

The R&D reorganization inside Sanofi is continuing, more than a year after the pharma giant brought in John Reed to head the research arm of the Paris-based company.

Endpoints News

Basic subscription required

Unlock this story instantly and join 53,300+ biopharma pros reading Endpoints daily — and it's free.

Neil Woodford. Woodford Investment Management via YouTube

Wood­ford braces po­lit­i­cal storm as UK fi­nan­cial reg­u­la­tors scru­ti­nize fund sus­pen­sion

The shock of Neil Wood­ford’s de­ci­sion to block with­drawals for his flag­ship fund is still rip­pling through the rest of his port­fo­lio — and be­yond. Un­der po­lit­i­cal pres­sure, UK fi­nan­cial reg­u­la­tors are now tak­ing a hard look while in­vestors con­tin­ue to flee.

In a re­sponse let­ter to an MP, the Fi­nan­cial Con­duct Au­thor­i­ty re­vealed that it’s opened an in­ves­ti­ga­tion in­to the sus­pen­sion fol­low­ing months of en­gage­ment with Link Fund So­lu­tions, which tech­ni­cal­ly del­e­gat­ed Wood­ford’s firm to man­age its funds.

Dave Barrett, Brian Chee, Amir Nashat, Amy Schulman. Polaris

Bob Langer's first port of call — Po­laris Part­ners — maps $400M for ninth fund

Health and tech ven­ture group Po­laris Part­ners, which counts Alec­tor, Al­ny­lam and Ed­i­tas Med­i­cine as part of its port­fo­lio, is set­ting up its ninth fund, rough­ly two years af­ter it closed Po­laris VI­II with $435 mil­lion in the bank, sur­pass­ing its tar­get by $35 mil­lion.

The Boston-based firm, in an SEC fil­ing, said it in­tends to raise $400 mil­lion for the fund. Po­laris — which rou­tine­ly backs com­pa­nies mold­ed out of the work done in the lab of pro­lif­ic sci­en­tist Bob Langer of MIT  — typ­i­cal­ly in­vests ear­ly, and sticks around till com­pa­nies are in the green. Like its peers at Flag­ship and Third Rock, Po­laris is all about cham­pi­oning the lo­cal biotech scene with a steady flow of start­up cash.