Buy­out buzz swells for the gi­ant Bris­tol-My­ers af­ter Carl Ic­ahn makes an en­trance, stage left

Carl Ic­ahn, the ag­ing ac­tivist who’s prod­ded a se­ries of high-pro­file bio­phar­ma com­pa­nies in­to the arms of ea­ger buy­ers, has tak­en a stake in the high­ly stressed Bris­tol-My­ers Squibb, build­ing spec­u­la­tion that the trou­bled gi­ant could be in line for a buy­out — as im­prob­a­ble as that may sound to many.

Bris­tol-My­ers start­ed the day by an­nounc­ing that it added three new di­rec­tors and struck a $2 bil­lion stock buy­back deal in a pact with Jana Part­ners, an­oth­er ac­tivist which has been spurring Bris­tol-My­ers to take ac­tion to get out of the rut it’s found it­self in.

Once the dar­ling of the check­point com­mu­ni­ty, Mer­ck last year leapfrogged Bris­tol-My­ers on non-small cell lung can­cer with a se­ries of clin­i­cal ad­vances that still as­ton­ish­es some long­time ob­servers of the field. Just days ago you could be­gin to hear the scut­tle­butt about take­out ru­mors, as the com­pa­ny’s stock lan­guished in the wake of its set­backs.

To­day, though, Bris­tol-My­ers stock $BMY con­tin­ued a surge in af­ter-mar­ket trad­ing af­ter the Wall Street Jour­nal post­ed the news of Ic­ahn’s ar­rival.

The ru­mor mill, kicked off by Street In­sid­er, has iden­ti­fied three pos­si­ble suit­ors for Bris­tol-My­ers. Pfiz­er, which has been the on­ly Big Phar­ma play­er to demon­strate an ap­petite for megamerg­ers, leads the list. Then there’s Roche, where the CEO has re­peat­ed­ly sworn off these kinds of tie ups. And there’s No­var­tis, which is big enough to take on a buy­out like this, but al­so has steered clear of these kinds of deals.

Can Ic­ahn bring one or more of them to the ta­ble?

Once a wide­ly re­spect­ed/feared play­er in bio­phar­ma, Ic­ahn and his team pushed Bio­gen to over­haul its ex­ec­u­tive suite, bring­ing in George Scan­gos as the com­pa­ny made Tec­fidera its flag­ship ther­a­py af­ter ini­tial­ly call­ing for a sale of the com­pa­ny. He helped steer Im­Clone to a $6.5 bil­lion deal with Eli Lil­ly while push­ing Amylin back in­to Bris­tol-My­ers’ arms in 2012.

Now 81, Ic­ahn still packs plen­ty of clout when it comes to gen­er­at­ing fresh spec­u­la­tion about a deal. Bris­tol-My­ers, though, has a mar­ket cap of $91 bil­lion, mak­ing it a tar­get that on­ly a hand­ful of com­pa­nies could pull off. That won’t stop the spec­u­la­tion, though, as the Bris­tol moves to the cen­ter of the M&A scene now that Ic­ahn has en­tered, stage left.

Con­quer­ing a silent killer: HDV and Eiger Bio­Phar­ma­ceu­ti­cals

Hepatitis delta, also known as hepatitis D, is a liver infection caused by the hepatitis delta virus (HDV) that results in the most severe form of human viral hepatitis for which there is no approved therapy.

HDV is a single-stranded, circular RNA virus that requires the envelope protein (HBsAg) of the hepatitis B virus (HBV) for its own assembly. As a result, hepatitis delta virus (HDV) infection occurs only as a co-infection in individuals infected with HBV. However, HDV/HBV co-infections lead to more serious liver disease than HBV infection alone. HDV is associated with faster progression to liver fibrosis (progressing to cirrhosis in about 80% of individuals in 5-10 years), increased risk of liver cancer, and early decompensated cirrhosis and liver failure.
HDV is the most severe form of viral hepatitis with no approved treatment.
Approved nucleos(t)ide treatments for HBV only suppress HBV DNA, do not appreciably impact HBsAg and have no impact on HDV. Investigational agents in development for HBV target multiple new mechanisms. Aspirations are high, but a functional cure for HBV has not been achieved nor is one anticipated in the forseeable future. Without clearance of HBsAg, anti-HBV investigational treatments are not expected to impact the deadly course of HDV infection anytime soon.

No­var­tis is ax­ing 150 ear­ly dis­cov­ery jobs as CNI­BR shifts fo­cus to the de­vel­op­ment side of R&D

Novartis is axing some 150 early discover jobs in Shanghai as it swells its staff on the drug development side of the equation in China. And the company is concurrently beefing up its investment in China’s fast-growing biotech sector with a plan to add to its investments in local VCs.

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No­var­tis is eye­ing a multi­bil­lion-dol­lar Med­Co buy­out as Jer­sey biotech nears NDA — re­ports

To get from Novartis’ US headquarters to the Medicines Company, you make a left out of a square concrete building on NJ-Route 10, follow it past the sun orange veranda of Jersey’s Hot Bagels and the inexplicable green Vermont cabin that houses the Whippany Railway Museum until you turn right and immediately arrive at a rectangular glass building. It should take you about 12 minutes.

Reports are out that Novartis may be making that trip. Amid a torrent of Phase III data burnishing MedCo’s chances at a blockbuster cholesterol drug,  Bloomberg News is reporting that Novartis is looking to acquire the Jersey-based biotech.

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UP­DAT­ED: In a land­mark first glimpse of hu­man da­ta from Ver­tex, CRISPR/Cas9 gene ther­a­py sig­nals ear­ly ben­e­fit

Preliminary data on two patients with blood disorders that have been administered with Vertex and partner CRISPR Therapeutics’ gene-editing therapy suggest the technology is safe and effective, marking the first instance of the benefit of the use of CRISPR/Cas9 technology in humans suffering from disease.

Patients in these phase I/II studies give up peripheral blood from which hematopoietic stem and progenitor cells are isolated. The cells are tinkered with using CRISPR/Cas9 technology, and the edited cells — CTX001 — are infused back into the patient via a stem cell transplant. The objective of CTX001 is to fix the errant hemoglobin gene in patents with two blood disorders: beta-thalassemia and sickle cell disease, by unleashing the production of fetal hemoglobin.

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Badrul Chowdhury. FDA via Flickr

As­traZeneca los­es an­oth­er ex­ec­u­tive to biotech, as Badrul Chowd­hury moves to Savara

Another executive is migrating from the echelons of Big Pharma to the corridors of small biotech.

In April 2018, Badrul Chowdhury took his more than two decades of experience at the FDA to AstraZeneca, where he took on the role of senior vice president and chief physician-scientist for respiratory, inflammation and autoimmunity late-stage development in biopharmaceuticals R&D.

After about a year and a half in this role, Chowdhury is moving to a small Texas biotech called Savara, where he will serve as chief medical officer.

Yiannis Kiachopoulos and Artur Saudabayev, co-founders of Causaly

Lon­don AI up­start, which counts No­var­tis as a cus­tomer, can teach your com­put­er to read

When Amazon developed a machine-learning tool to make its recruitment process more efficient — the man-made system absorbed the gender-bias of its human makers, and the project was aborted. In the field of biopharmaceuticals, the way researchers train their machine learning algorithms can skew the outcome of predictions. But before those predictions can be made, the engine must learn to read to make sense of explosive volume of knowledge out there.

Burt Adelman. Novo Ventures

Here's a $25M seed fund aimed at back­ing some brash new drug ideas out of the Broad

As a former academic and a seasoned drug developer, Burt Adelman knew when he was recruited as a senior advisor to Novo Ventures in 2017 that one of his key priorities needs to be introducing the fund to the network he was so deeply embedded in.

“I was thinking long and hard on how can I, as a Boston insider, help Novo really get inside the ecosystem of Boston biotech?” he recalled in an interview with Endpoints News.

Welling­ton lines up a $393M bankroll for its next round of pri­vate biotech bets — and they’re like­ly think­ing big

Wellington Management made some uncustomary waves at the beginning of the year when it threw its considerable weight against Bristol-Myers Squibb’s $74 billion Celgene buyout. But after Bristol-Myers’ biggest investor conceded that game to the influential proxy firms involved, they’re now going to end the year by rolling out a big new investment fund for a new stable of fledgling biotechs on the private side of the industry.

As uter­ine race with Ab­b­Vie heats up, My­ovant eyes FDA ap­proval with tri­al re­sults from prostate can­cer

Myovant has long had a secret weapon in its uterine rivalry with AbbVie: Men.

While the small Swiss biotech has jockeyed with the Illinois-based giant for a foothold in the endometriosis and uterine fibroid therapy market, the company has been developing the same lead compound, relugolix, for use in one of the most common cancers for the uterus-less: prostate cancer. Today, Myovant is out with positive topline results from its big Phase III trial on the gonadotropin-releasing hormone (GnRH) antagonist. They say they’ve reached every primary and secondary endpoint with p values less than .0001.