J&J, Bayer agree to $775M payout to settle Xarelto litigation; Biogen launches $5B buyback in the wake of a disaster; Hookipa pitches $86M IPO

→ Right on deadline this morning we learned that J&J and Bayer have reached a deal to settle their outstanding litigation on Xarelto with a lump $775 million settlement. The two companies were accused of failing to warn patients properly of the bleeding risk associated with the blood thinner. The legal war has been ongoing for 5 years.

→ With its share price beaten down brutally at the end of last week following the collapse of its Phase III Alzheimer’s work, a shaken Biogen is countering its misfortunes with a $5 billion buyback campaign.

→ Nine months after Gilead came in with a $400 million alliance, Vienna-based Hookipa Biotech has waded out with an $86 million IPO filing. Hookipa has focused on cytomegalovirus infection for its main in-house program while angling in on immune-oncology and a T cell attack on cancer. Gilead has been interested in using the same tech for hep B. The biotech plans to trade as $HOOK.

→ Several months after raising $46 million for its work revolving around NLRP3, Inflazome has scored a grant from The Michael J. Fox Foundation for Parkinson’s Research to develop an imaging tool. Specifically, the biotech will use $1 million to develop a NLRP3-specific PET tracer to show whether drugs are binding to target inflammasomes in the brain.

CanSino, one of the first biotechs to line up at the HKEX after the stock exchange opened up to pre-revenue biotechs, is finally closing in on its IPO. Known domestically for an Ebola vaccine approved in China, the vaccine specialist is planning to raise as much as $160 million and begin trading on March 28, according to Caixin. LAV Amber, OrbiMed and a fund tied to the Tianjin provincial government (where CanSino is based) are the cornerstone investors.

→ While Sanofi and Lexicon were hit by the FDA’s rejection of their type 1 diabetes drug, AstraZeneca’s SGLT2 drug Forxiga has been approved in Europe. The pharma giant says this is the first oral supplement to insulin in this particular market.

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Research Scientist - Immunology
Recursion Pharmaceuticals Salt Lake City, UT
Director of Operations
Atlas Venture Cambridge, MA

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