Centrexion delays IPO; Exelixis makes $40M as Cabometyx wins EU nod
→ The non-opioid painkiller developer Centrexion, which is led by former Pfizer $PFE chief Jeffrey Kindler, has reportedly postponed its IPO. The Boston-based company, whose pipeline of chili-based analgesics is being tested for a host of pain indications in humans and animals, had filed to raise $75 million by offering 5 million shares at a price range of $14 to $16.
→ Exelixis $EXEL is set to gain $40 million from partner Ipsen after their cancer drug Cabometyx secured European approval as a second-line treatment for hepatocellular carcinoma (HCC) on Thursday. The drug is already approved by the FDA for renal cell carcinoma, and the US agency is expected to make a decision on its approvability as a HCC treatment by January 2019.
→ Dermavant Sciences — a dermatology focused unit of Vivek Ramaswamy’s Roivant Sciences — has hired industry veteran Todd Zavodnick as its CEO, as the company prepares to begin a late-stage trial of its lead experimental drug, tapinarof. Zavodnick comes with over two decades of experience, having w0rked at ZELTIQ Aesthetics before it was acquired by Allergan $AGN as well as Galderma, among other firms.
→ Seattle Genetics’ $SGEN cancer drug Adcetris, which is being jointly developed with Takeda, has won breakthrough therapy status from the FDA for previously untreated systemic anaplastic large cell lymphoma or certain other CD30-expressing peripheral T-cell lymphomas (PTCL). The drug has already won approval in over 70 countries for relapsed or refractory Hodgkin lymphoma.
→ As the latest Ebola outbreak rages on in the Congo, NewLink Genetics $NLNK on Thursday said that its partner Merck $MRK had begun a rolling submission of a marketing application for its Ebola vaccine to the FDA.