Biotech bad boy Mar­tin Shkre­li is­n't get­ting his $5M in bail mon­ey back any­time soon

Mar­tin Shkre­li and his at­tor­ney Ben Braf­man JS­tone/Shut­ter­stock


Mar­tin Shkre­li may be spend­ing his days chill­ing in a fed­er­al prison in Brook­lyn, but he’s not get­ting his $5 mil­lion in bail mon­ey back any­time soon.

Shkre­li’s at­tor­ney Ben Braf­man pe­ti­tioned the judge in his case to get the bail mon­ey re­turned, say­ing that it would go to a firm charged with pay­ing off a grow­ing tax debt. Af­ter all, he told the court, Shkre­li isn’t go­ing any­where. But Judge Kiyo Mat­sumo­to waved it off.

Ac­cord­ing to the judge, she wants to hold on to the cash in case Shkre­li — con­vict­ed on three felony fraud charges — has to pay resti­tu­tion to the vic­tims in his case. It’s worth not­ing that the key wit­ness­es in the case all say they even­tu­al­ly got their mon­ey back from Shkre­li’s failed hedge fund — and then some. But he paid them back with stock in his biotech start­up Retrophin, which lat­er kicked him out and helped get the fed­er­al case start­ed against him.

The youth­ful Shkre­li was jailed for us­ing so­cial me­dia to place a $5,000 boun­ty on a hair from Hillary Clin­ton’s head. He tried to laugh it off as a joke gone bad, but the judge in his case wasn’t amused. She sent him to prison to wait for his sen­tenc­ing hear­ing in Jan­u­ary af­ter de­ter­min­ing that his boun­ty could be viewed as a so­lic­i­ta­tion for as­sault.

Shkre­li be­came no­to­ri­ous for jack­ing up the price of Dara­prim more than 5000% at his oth­er start­up, Tur­ing. Just be­fore he went to prison, Shkre­li beat back a takeover at­tempt by his chief sci­en­tif­ic of­fi­cer, Eliseo Sali­nas. Sali­nas dis­ap­peared from the com­pa­ny’s web­site af­ter a new board hand picked by Shkre­li took over.

Shkre­li, who was kicked off Twit­ter time and again af­ter ha­rass­ing a fe­male jour­nal­ist, now has a tax bill he can’t pay and a date with an an­gry fed­er­al judge — not the best of all pos­si­ble worlds.

Af­ter sneer­ing at his three felony con­vic­tions and telling his fan base that he’d be get­ting off light, with maybe a few months to va­ca­tion at Club Fed, the man many claim was al­ways the smartest guy in the biotech room isn’t scor­ing high in the pre­dic­tions busi­ness.

GSK's Hal Bar­ron her­alds their sec­ond pos­i­tive PhI­II for cru­cial an­ti-BC­MA ther­a­py, point­ing to a push for quick OKs in a crowd­ed field

Hal Barron has his second positive round of Phase III data in hand for his anti-BCMA antibody drug conjugate belantamab mafodotin (GSK2857916). And GSK’s research chief says the data paves the way for their drive in search of an FDA approval for treating multiple myeloma. 

It’s hard to overestimate the importance of this drug for GSK, a cornerstone of Barron’s campaign to make a dramatic impact on the oncology market and provide some long-lost excitement for the pharma giant’s pipeline. They’re putting this BCMA program at the front of that charge — looking to lead a host of rivals all aimed at the same target.

Martin Shkreli [via Getty]

Pris­on­er #87850-053 does not get to add drug de­vel­op­er to his list of cred­its

Just days after Retrophin shed its last ties to founder Martin Shkreli, the biotech is reporting that the lead drug he co-invented flopped in a pivotal trial. Fosmetpantotenate flunked both the primary and key secondary endpoints in a placebo-controlled trial for a rare disease called pantothenate kinase-associated neurodegeneration, or PKAN.

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UP­DAT­ED: An em­bold­ened As­traZeneca splurges $95M on a pri­or­i­ty re­view vouch­er. Where do they need the FDA to hus­tle up?

AstraZeneca is in a hurry.

We learned this morning that the pharma giant — not known as a big spender, until recently — forked over $95 million to get its hands on a priority review voucher from Sobi, otherwise known as Swedish Orphan Biovitrum.

That marks another step down on price for a PRV, which allows the holder to slash 4 months off of any FDA review time.

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We­bi­nar: Re­al World End­points — the brave new world com­ing in build­ing fran­chise ther­a­pies

Several biopharma companies have been working on expanding drug labels through the use of real world endpoints, combing through the data to find evidence of a drug’s efficacy for particular indications. But we’ve just begun. Real World Evidence is becoming an important part of every clinical development plan, in the soup-through-nuts approach used in building franchises.

I’ve recruited a panel of 3 top experts in the field — the first in a series of premium webinars — to look at the practical realities governing what can be done today, and where this is headed over the next few years, at the prodding of the FDA.

ZHEN SU — Merck Serono’s Senior Vice President and Global Head of Oncology
ELLIOTT LEVY — Amgen’s Senior Vice President of Global Development
CHRIS BOSHOFF — Pfizer Oncology’s Chief Development Officer

A premium subscription to Endpoints News is required to attend this webinar. Please upgrade to either an Insider or Enterprise plan for access. Already have Endpoints Premium? Please sign-in below. You can contact our Subscriptions team at help@endpointsnews.com with any issues.

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Brian Kaspar. AveXis via Twitter

AveX­is sci­en­tif­ic founder fires back at No­var­tis CEO Vas Narasimhan, 'cat­e­gor­i­cal­ly de­nies any wrong­do­ing'

Brian Kaspar’s head was among the first to roll at Novartis after company execs became aware of the fact that manipulated data had been included in its application for Zolgensma, now the world’s most expensive therapy.

But in his first public response, the scientific founder at AveXis — acquired by Novartis for $8.7 billion — is firing back. And he says that not only was he not involved in any wrongdoing, he’s ready to defend his name as needed.

I reached out to Brian Kaspar after Novartis put out word that he and his brother Allen had been axed in mid-May, two months after the company became aware of the allegations related to manipulated data. His response came back through his attorneys.

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Bob Smith, Pfizer

Pfiz­er is mak­ing a $500M state­ment to­day: Here’s how you be­come a lead play­er in the boom­ing gene ther­a­py sec­tor

Three years ago, Pfizer anted up $150 million in cash to buy Bamboo Therapeutics in Chapel Hill, NC as it cautiously stuck a toe in the small gene therapy pool of research and development.

Company execs followed up a year later with a $100 million expansion of the manufacturing operations they picked up in that deal for the UNC spinout, which came with $495 million in milestones.

And now they’re really going for it.

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Video: Putting the AI in R&D — with Badhri Srini­vasan, Tony Wood, Rosana Kapeller, Hugo Ceule­mans, Saurabh Sa­ha and Shoibal Dat­ta

During BIO this year, I had a chance to moderate a panel among some of the top tech experts in biopharma on their real-world use of artificial intelligence in R&D. There’s been a lot said about the potential of AI, but I wanted to explore more about what some of the larger players are actually doing with this technology today, and how they see it advancing in the future. It was a fascinating exchange, which you can see here. The transcript has been edited for brevity and clarity. — John Carroll

UP­DAT­ED: As­traZeneca’s Imfinzi/treme com­bo strikes out — again — in lung can­cer. Is it time for last rites?

AstraZeneca bet big on the future of their PD-L1 Imfinzi combined with the experimental CTLA-4 drug tremelimumab. But once again it’s gone down to defeat in a major Phase III study — while adding damage to the theory involving targeting cancer with a high tumor mutational burden.

Early Wednesday the pharma giant announced that their NEPTUNE study had failed, with the combination unable to beat standard chemo at overall survival in high TMB cases of advanced non-small cell lung cancer. We won’t get hard data until later in the year, but the drumbeat of failures will call into question what — if any — future this combination can have left.

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Am­gen, Al­ler­gan biosim­i­lar of Roche's block­buster Rit­ux­an clears an­oth­er US piv­otal study 

Novartis $NVS may have given up, but Amgen $AMGN and Allergan $AGN are plowing ahead with their knockoff of Roche’s blockbuster biologic Rituxan in the United States.

Their copycat, ABP 798, was found to have a clinically equivalent impact as Rituxan — meeting the main goal of the study involving CD20-positive B-cell non-Hodgkin’s lymphoma patients. This is the second trial supporting the profile of the biosimilar. In January, it came through with positive PK results in patients with rheumatoid arthritis.