Incyte hires Janssen exec as CSO Huber moves to Third Rock; Synthorx set terms for $100M IPO
→ Ahead of an FDA decision on its key drug Jakafi’s use in graft vs. host disease, Incyte $INCY has lost its chief scientific officer Reid Huber to prominent healthcare venture firm Third Rock, but is bringing in Janssen’s Dashyant Dhanak to fill the gap.
Dhanak will need to get his act together before the upcoming American Society of Hematology (ASH) conference slated for this weekend, where Incyte is making multiple data presentations, including updated data for Jakafi in combination with its PI3K-delta inhibitor INCB50465 in patients with myelofibrosis. This combination is expected to play a critical role in expanding the Jakafi franchise in myeloproliferative neoplasms, a group of rare disorders of the bone marrow that cause an increase in the number of blood cells.
Dhanak joins Incyte as CSO and executive VP from J&J’s $JNJ Janssen, where he most recently served as global head, discovery sciences. Before Janssen, he spent a quarter of a century at GlaxoSmithKline $GSK. Meanwhile, Huber, who was a founding member of Incyte’s scientific team, is joining Third Rock as a partner after 16 years with the drugmaker.
→ La Jolla, CA-based Synthorx has set terms for an upcoming shot at a $100 million IPO. The biotech plans to sell 9.1 million shares at $10 to $12. If successful, they’ll have a market value of more than $300 million.
→ South Korea’s ABL Biologics has teamed up with WuXi Biologics to develop and manufacture up to eight antibody drugs for the clinic. ABL also recently enlisted I-Mab Biopharma to help beef up its largely preclinical pipeline consisting of cancer and Parkinson’s drugs.