Protocols

Papiernik named chairman at Sofinnova Partners; Cara shares surge on positive data for uremic pruritus

Antoine Papiernik

→ Twenty years after joining Sofinnova Partners in Paris, Antoine Papiernik is taking the chairman’s post. Papiernik is well known in VC circles on both sides of the Atlantic, and played a leading role investing on a long list of biotechs like Actelion and ProQR. Papiernik succeeds Denis Lucquin who remains a Managing Partner.

→ Shares of Cara Therapeutics $CARA shot up 15% this morning after the Stamford, CT based biotech reported positive top-line results demonstrating from Part A of its Phase II/III trial showing that I.V. CR845 met both primary and secondary endpoints for efficacy (reduced itching and improved quality of life, respectively) in patients with uremic pruritus.

→ A troubled Cempra $CEMP has withdrawn its European application for solithromycin, which was recently rejected by the FDA. “We believe the most efficient path to approval is to withdraw the MAA at this time and to resubmit it with the additional data requested by the FDA,” said David Zaccardelli, acting chief executive officer of Cempra.

→ San Francisco-based Twist Bioscience has added $33 million to its coffers, bringing its total raise to $166 million. There was no word in a release, though, about who’s supplying the cash. Emily M. Leproust, CEO of Twist, said: “We welcome the additional equity capital to further accelerate growth of the core gene synthesis business, as well as pharmaceutical discovery and data storage vertical strategies.”

Eagle Pharmaceuticals $EGRX landed a priority review at the FDA for Ryanodex (dantrolene sodium), a new treatment for exertional heat stroke.

Aveo, a penny stock biotech, raised $15 million by selling 30 million shares $AVEO at fifty cents each.


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