Financing channel feed

Damien McDevitt, Aspen Neuroscience CEO

Ex­clu­sive: As­pen Neu­ro­science col­lects large Se­ries B to com­pete against Bay­er's Parkin­son's cell ther­a­py

Damien McDevitt thinks frequently about the name Aspen Neuroscience. Specifically, should the neuroscience portion be dropped as the San Diego biotech considers expanding beyond the CNS?

McDevitt, the 21-year GlaxoSmithKline veteran and former Akcea Therapeutics CEO who took over the helm of Aspen in January 2021, now has even more deep-pocketed investors to help him and his 60-plus employee team consider their voyage beyond Parkinson’s thanks to a $147.5 million Series B.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.

EUROAPI CEO Karl Rotthier rings the bell at the Euronext exchange (Charlène Yves via EUROAPI)

De­fy­ing biotech bears, Sanofi man­u­fac­tur­ing spin­off surges on Paris de­but

Biotech stocks are being mauled by a protracted bear market while the Ukraine war casts a pall over Europe, but that didn’t stop one Big Pharma spinoff from cheering on an upbeat public debut.

Sanofi’s pharmaceutical ingredient spinoff, EUROAPI, had a positive start on its first day of trading on Paris’ Euronext exchange. EUROAPI’s shares $EAPI traded above the reference price of 12 euros set by the exchange after markets closed on Thursday and rose by over 12% to more than 13 euros.

John Oyler, BeiGene CEO (Paul Yeung/Bloomberg via Getty Images)

BeiGene CEO John Oyler steps up to the Big Phar­ma league with $16M in comp as shares sour

BeiGene’s compensation report is out — and it puts founder, chairman and CEO John Oyler in a very nice spot at the head of the maturing biotech with global aspirations. The salary puts Oyler on par with many Big Pharma execs, even as shares of $BGNE are down more than 50% over the last 12 months.

Oyler’s compensation package rang up at $16,748,546 last year, which puts the head of the global biotech just below the top range of biotech/pharma CEO compensation — and overall better for Oyler than in previous years, where he made $14.4 million in 2020 and $12.5 million in 2019.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.

Photo: Shutterstock

Big Phar­ma is rich. So much so, their cof­fers could buy more than 600 biotechs

The pandemic made Big Pharma even richer than before as vaccines and therapeutics splashed onto the market to the tune of billions of dollars. In the sophomore year of the pandemic, a boom in biotech interest fueled a rise in VC funding and a preclinical IPO flurry.

But the startup world was hit hard, as many early-stage biotechs have faltered and faced an unrelenting bear market in recent quarters.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.

James McArthur, PepGen CEO

Bear mar­ket slows Pep­Gen's roll, caus­ing DMD-fo­cused biotech to price be­low range

A month after PepGen transitioned to a clinical-stage company with its Duchenne muscular dystrophy trial in Canada, the Boston biotech is debuting on Wall Street.

But its Nasdaq entrance was subdued Friday with a $12 pricing $PEPG, falling below the penciled-in $13 to $15 range. And Bausch Health’s eyecare products spinout, Bausch + Lomb, also faced reality with a launch below its range, at $18 $BLCO instead of the targeted $21 to $24 it wanted.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.

Jerry Durso, Intercept Pharmaceuticals CEO

UP­DAT­ED: In­ter­cept sells ex-US rights to PBC drug as it gears up for a sec­ond-chance shot at NASH

Intercept Pharmaceuticals, the biotech that brought NASH to the forefront of drug development R&D, has sold off the ex-US rights to its autoimmune disease drug Ocaliva as the company prepares the same med for another shot at the disease. And with the biotech on tap for a pre-submission meeting with the FDA this year in NASH, execs now have additional funds to bankroll that work.

European specialty pharma brand Advanz is dishing out $405 million upfront and up to $45 million more to gain the ex-US rights to Ocaliva, most of Intercept’s international operations and certain subsidiaries, the company said Thursday. Taken together, that’s about the same figure as Intercept’s cash on hand at the end of 2021: $429.4 million.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.

Tom Lemberg, Curebase CEO

DCT start­up look­ing to forge bet­ter com­mu­ni­ty re­la­tion­ships nets a mod­est Se­ries B

The decentralized clinical trial industry went through a huge boom during the Covid-19 pandemic as biotechs and Big Pharma companies alike were forced to shift gears. Looking to capitalize on that momentum, a San Francisco startup is raising funds to ensure closer partnerships with the communities DCTs serve.

Curebase pulled together a $40 million Series B on Thursday, roughly 13 months after closing its Series A. While on the surface this may seem like another DTC company, CEO Tom Lemberg tells Endpoints News the company is looking to separate itself from the pack by going straight to the community to bring greater diversity to clinical trials.

Feel­ing the pain of a bear mar­ket, Macro­Gen­ics plans to start a PhII/III by year's end — once they raise the cash

The biotech bear market has proven challenging for companies across the sector, with several laying off staff or seeking mergers and sales. And on Tuesday, one public biotech highlighted just how stark its challenges are in raising funds and continuing clinical studies.

MacroGenics reported its first quarter earnings Tuesday afternoon and noted that it currently doesn’t have enough cash to fund a planned Phase II/III study for its lead experimental drug in prostate cancer. Execs say they’re planning on launching the study by the end of the year and can obtain the necessary funding for the Phase II portion by that time.

Lawrence Miller, Apnimed CEO

Sleep ap­nea biotech breathes easy with $62.5M fi­nanc­ing ahead of PhI­II tri­als for lead oral drug

Traditional care for obstructive sleep apnea involves CPAP, a cumbersome countermeasure in which patients have air continuously pushed through a mask they have to wear through the night. While there have been improvements to CPAP technology, it has remained the standard of care for obstructive sleep apnea since its invention just over 40 years ago.

However, Cambridge-based biotech Apnimed is now touting that it may have an oral drug that could change that standard, and it has won $62.5 million in Series C funding to fuel an upcoming Phase III trial for said candidate to test that claim.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.

Dominik Schumacher, Tubulis co-founder and CEO

How do you pack 20 years of ADC learn­ings in­to one com­pa­ny? Tubu­lis has $63M more to an­swer that

More than two decades have passed since the first antibody-drug conjugate went on the market. But according to a biotech startup out of Germany, the space is really just beginning to flourish.

And if Tubulis gets its way, it will play a big part in designing the ADCs that will be deployed in cancer treatments of tomorrow.

Andera Partners led a new $63 million (€60 million) into the company, which brought new investors Evotec and Fund+ into the syndicate, joining Bayern Kapital, BioMedPartners, coparion, High-Tech Gründerfonds, OCCIDENT and Seventure Partners.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,200+ biopharma pros reading Endpoints daily — and it's free.