Bris­tol My­ers scores new FDA nod for Op­di­vo/Yer­voy com­bo; US Army wants Gilead­'s po­ten­tial Covid-19 drug for in­fect­ed troops

Bris­tol My­ers Squibb has added one more type of can­cer that its Op­di­vo/Yer­voy com­bo is ap­proved to treat, scor­ing an ac­cel­er­at­ed OK for sec­ond-line cas­es of he­pa­to­cel­lu­lar car­ci­no­ma. While the PD-1 and CT­LA-4 dual im­munother­a­py failed to beat Nex­avar in the front­line set­ting, reg­u­la­tors were sat­is­fied by the over­all re­sponse rate of 33% among pa­tients who were pre­vi­ous­ly treat­ed by the Bay­er drug. Bris­tol will be com­pet­ing with Bay­er’s mul­ti-ki­nase in­hibitor Sti­var­ga and Eli Lil­ly’s VEG­FR2 in­hibitor Cyra­mza in this liv­er can­cer niche.

→ The US Army Med­ical Re­search and De­vel­op­ment Com­mand has re­port­ed­ly signed a deal with Gilead, which will al­low for the use of the drug­mak­er’s ex­per­i­men­tal coro­n­avirus ther­a­py, remde­sivir, in US troops with con­firmed in­fec­tions. The NIH is al­ready work­ing with Gilead to test the drug — which failed to pass muster as an Ebo­la ther­a­peu­tic — in hu­mans as a treat­ment for Covid-19.

→ In an ef­fort to tack­le one of the most dis­cussed drug pric­ing is­sues in the US, the Cen­ters for Medicare & Med­ic­aid said it’s rolling out a vol­un­tary se­nior sav­ings mod­el that caps co­pay for in­sulin at $35 for a 30-day sup­ply. Ben­e­fi­cia­ries would have to pay a slight­ly high­er pre­mi­um for these en­hanced plans, but it en­sures that they have pre­dictable out-of-pock­et costs, the CMS said.

→ San Fran­cis­co-based AI drug dis­cov­ery com­pa­ny Atom­wise, which in Sep­tem­ber inked its first deal in Chi­na (with Han­soh Phar­ma­ceu­ti­cals), now has its first part­ner­ship in Ko­rea. The re­search al­liance, with Bridge Bio­ther­a­peu­tics, is ex­pect­ed to span the launch of up to 13 small mol­e­cule pro­grams across mul­ti­ple ther­a­peu­tic ar­eas. Atom­wise said it es­ti­mates that it could re­ceive up to $1.08 bil­lion (in­clud­ing roy­al­ties) with suc­cess in all re­search pro­grams — but did not dis­close any specifics.

→ Der­ma­tol­ogy biotech Ver­ri­ca Phar­ma­ceu­ti­cals, which in 2018 made its Nas­daq de­but with a $75 mil­lion IPO, has se­cured a $55 mil­lion in­jec­tion via loans from Sil­i­con Val­ley Bank and WestRiv­er In­no­va­tion Lend­ing Fund VI­II as it preps for the po­ten­tial launch of its mol­lus­cum con­ta­gio­sum ther­a­py. The FDA is ex­pect­ed to make its de­ci­sion on the drug by Ju­ly 13.

→ Is­rael-based can­cer drug de­vel­op­er Biosight — whose lead ex­per­i­men­tal drug BST-236 is in a mid-stage acute myeloid leukemia study — has se­cured $19 mil­lion in a Se­ries C round of fi­nanc­ing, led by Is­rael Biotech Fund with par­tic­i­pa­tion by SBI JI In­no­va­tion Fund and Arkin Bio Ven­tures, among oth­ers.

Pfiz­er’s Doug Gior­dano has $500M — and some ad­vice — to of­fer a cer­tain breed of 'break­through' biotech

So let’s say you’re running a cutting-edge, clinical-stage biotech, probably public, but not necessarily so, which could see some big advantages teaming up with some marquee researchers, picking up say $50 million to $75 million dollars in a non-threatening minority equity investment that could take you to the next level.

Doug Giordano might have some thoughts on how that could work out.

The SVP of business development at the pharma giant has helped forge a new fund called the Pfizer Breakthrough Growth Initiative. And he has $500 million of Pfizer’s money to put behind 7 to 10 — or so — biotech stocks that fit that general description.

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BiTE® Plat­form and the Evo­lu­tion To­ward Off-The-Shelf Im­muno-On­col­o­gy Ap­proach­es

Despite rapid advances in the field of immuno-oncology that have transformed the cancer treatment landscape, many cancer patients are still left behind.1,2 Not every person has access to innovative therapies designed specifically to treat his or her disease. Many currently available immuno-oncology-based approaches and chemotherapies have brought long-term benefits to some patients — but many patients still need other therapeutic options.3

President Donald Trump (left) and Moncef Slaoui, head of Operation Warp Speed (Alex Brandon, AP Images)

White House names fi­nal­ists for Op­er­a­tion Warp Speed — with 5 ex­pect­ed names and one no­table omis­sion

A month after word first broke of the Trump Administration’s plan to rapidly accelerate the development and production of a Covid-19 vaccine, the White House has selected the five vaccine candidates they consider most likely to succeed, The New York Times reported.

Most of the names in the plan, known as Operation Warp Speed, will come as little surprise to those who have watched the last four months of vaccine developments: Moderna, which was the first vaccine to reach humans and is now the furthest along of any US effort; J&J, which has not gone into trials but received around $500 million in funding from BARDA earlier this year; the joint AstraZeneca-Oxford venture which was granted $1.2 billion from BARDA two weeks ago; Pfizer, which has been working with the mRNA biotech BioNTech; and Merck, which just entered the race and expects to put their two vaccine candidates into humans later this year.

Is a pow­er­house Mer­ck team prepar­ing to leap past Roche — and leave Gilead and Bris­tol My­ers be­hind — in the race to TIG­IT dom­i­na­tion?

Roche caused quite a stir at ASCO with its first look at some positive — but not so impressive — data for their combination of Tecentriq with their anti-TIGIT drug tiragolumab. But some analysts believe that Merck is positioned to make a bid — soon — for the lead in the race to a second-wave combo immuno-oncology approach with its own ambitious early-stage program tied to a dominant Keytruda.

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UP­DAT­ED: Es­ti­mat­ing a US price tag of $5K per course, remde­sivir is set to make bil­lions for Gilead, says key an­a­lyst

Data on remdesivir — the first drug shown to benefit Covid-19 patients in a randomized, controlled trial setting — may be murky, but its maker Gilead could reap billions from the sales of the failed Ebola therapy, according to an estimate by a prominent Wall Street analyst. However, the forecast, which is based on a $5,000-per-course US price tag, triggered the ire of one top drug price expert.

Credit: AP Images

Covid-19 roundup: BAR­DA sup­ports Op­er­a­tion Warp Speed with big $628M con­tract to ser­vice Amer­i­ca's vac­cine pro­duc­tion needs

Another BARDA contract designed to service America’s Covid-19 vaccine needs has been deployed.

The White House-led initiative designed to bankroll development to bring a vaccine to the American public by this fall — Operation Warp Speed — has via BARDA handed a meaty contract to the maker of an FDA-licensed anthrax vaccine to open up its manufacturing apparatus to shore up production of Covid-19 vaccines.

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FDA de­lays de­ci­sion on No­var­tis’ po­ten­tial block­buster MS drug, wip­ing away pri­or­i­ty re­view

So much for a speedy review.

In February, Novartis announced that an application for their much-touted multiple sclerosis drug ofatumumab had been accepted and, with the drug company cashing in on one of their priority review vouchers, the agency was due for a decision by June.

But with June less than 48 hours old, Novartis announced the agency has extended their review, pushing back the timeline for approval or rejection to September. The Swiss pharma filed the application in December, meaning their new schedule will be nearly in line with the standard 10-month window period had they not used the priority voucher.

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A low-pro­file biotech bests Re­gen­eron in high-pro­file patent suit

For nearly a decade now, the low-profile Cambridge biotech Kymab has been battling in US, UK, Japanese and Australian courts with the biotech behemoth Regeneron.

Regeneron has turned itself into a $70 billion company off of a platform of transgenically humanized mice they can use to make antibodies for anything from Ebola to colorectal cancer. The technology took decades and billions to build, 20 years from the company’s founding to the first approved drug. And the company guards and touts it zealously, breaking their production process down into various branded components — Velocimmune, Velocigene, Velocimouse and four other Velocis — and sometimes suing would-be copycats. In 2014, most notably, they sued two Pfizer-backed entities for patent infringement.

Bull­ish biotech mar­ket pro­pels Pli­ant to $144M IPO — as No­var­tis pro­vides a $10M boost

After pharma partner Novartis boosted its IPO with a $10 million private placement, Pliant Therapeutics has wrapped its journey to the Nasdaq on a high note.

Pliant had penciled in a $86 million raise back in May. But as has become the norm in recent months, that initial number has turned out to be a mere placeholder, making way for the final haul of $144 million.

The South San Francisco biotech did so by pricing at $16, the high end of the range, while bringing the number of shares offered up to 9 million.