From big bio­phar­ma to biotech CEO, John Hous­ton’s R&D jour­ney high­lights a fast-chang­ing world

John Hous­ton spent close to 30 years in the ranks of two big bio­phar­ma R&D or­ga­ni­za­tions. There was a decade at GSK fol­lowed by 18 more years at Bris­tol-My­ers Squibb, where he built a re­sume around con­struct­ing their drug dis­cov­ery tech­nol­o­gy base and was cred­it­ed with a key role in de­vel­op­ing a range of ma­jor fran­chise drugs like Op­di­vo and Yer­voy.

Then about two years ago, in­stead of de­vel­op­ing new drugs, he was charged with lend­ing a hand at shut­ting down two big re­search sites in Seat­tle and Walling­ford, CT, while BMS set its sights on a new R&D cen­ter in Cam­bridge.

And he found that he didn’t like the re­struc­tur­ing world so much.

“I de­cid­ed it was not what I want­ed to do, to con­tin­ue to close sites and han­dle the tran­si­tion,” Hous­ton tells me. So he left Bris­tol-My­ers in the sum­mer of 2016, join­ing the mi­gra­tion out of the big com­pa­ny R&D world to see what else bio­phar­ma might have in store for him.

Ear­ly this year, that quest led to the CSO’s job at Arv­inas in New Haven, where the team is work­ing on new pro­tein degra­da­tion tech orig­i­nal­ly de­vel­oped in the lab of Yale’s Craig Crews. (“It was ex­act­ly the role I want­ed.”) And this morn­ing — fol­low­ing the de­par­ture of CEO Man­ny Litch­man for Mus­tang last spring — Hous­ton has been giv­en the helm as a new­ly mint­ed biotech CEO.

Hous­ton’s tran­si­tion high­lights the boom­ing op­por­tu­ni­ties of a fast-grow­ing US biotech in­dus­try, which has proven to be siren song for a le­gion of ex­pe­ri­enced bio­phar­ma R&D ex­ecs who’ve grown dis­en­chant­ed with their old roles, where re­struc­tur­ing is of­ten the or­der of the day. Hous­ton’s seen it all around New Haven, where new com­pa­nies like Bio­haven have sourced teams from Bris­tol-My­ers’ dis­card­ed op­er­a­tions.

“The ex­cite­ment of mov­ing in­to a biotech, where you can get things done quick­er and have an im­pact, is clear­ly an at­trac­tion,” says Hous­ton. In a start­up biotech, you’re not “weight­ed down by a de­ci­sion-mak­ing bu­reau­cra­cy. Al­so, you want to see new chal­lenges, add val­ue, and cre­at­ing the set­ting gives you a huge pos­si­bil­i­ty to do that.”

Hous­ton’s world now is dom­i­nat­ed by the 46 staffers at Arv­inas who are push­ing two lead drugs for an­dro­gen and es­tro­gen re­cep­tor degra­da­tion for prostate and breast can­cer from the pre­clin­i­cal ef­fort in­to the clin­ic. They’re work­ing on a pair of INDs — with the help of around 80 chemists spread out among WuXi and oth­er Asian con­tract re­search groups — and look­ing to get in­to the clin­ic at the end of 2018.

Hous­ton, who used to run neu­ro­sciences at Bris­tol-My­ers, is al­so more than a lit­tle thrilled to be set­ting up a pre­clin­i­cal pro­tein degra­da­tion pro­gram for tau, one of the key tar­gets in the Alzheimer’s world.

Some­where along the way now, Arv­inas Chair­man Tim Shan­non — a gen­er­al part­ner at Canaan — will look to see how best to arrange the next fundrais­ing for the com­pa­ny, which he says is fund­ed through Q2.

Arv­inas is a ven­ture-backed com­pa­ny, and ven­ture-backed com­pa­nies tend to fol­low a path where you con­cen­trate on deals (Arv­inas is part­nered with a cou­ple of the best: Genen­tech and Mer­ck)  and con­sid­er the pos­si­bil­i­ties of an IPO or a buy­out if the right of­fer comes along.

“The main fo­cus is to grow the com­pa­ny to the point where it can be seen as a valu­able med­ical pro­duc­ing or­ga­ni­za­tion,” says Hous­ton.

And he couldn’t be hap­pi­er.

Brent Saunders [Getty Photos]

UP­DAT­ED: Ab­b­Vie seals $63B deal to buy a trou­bled Al­ler­gan — spelling out $1B in R&D cuts

Brent Saunders has found his way out of the current fix he’s in at Allergan $AGN. He’s selling the company to AbbVie for $63 billion in the latest example of the hot M&A market in biopharma.

Endpoints News

Basic subscription required

Unlock this story instantly and join 53,600+ biopharma pros reading Endpoints daily — and it's free.

Af­ter rais­ing $158M, this up­start's founders have star back­ers and plans to break new ground in gene ther­a­py

Back in 2014, Stephanie Tagliatela opted to take an early exit out of her PhD program after working in Mark Bear’s lab at MIT, where she specialized in the synaptic connections between neuronal cells in the brain. She never finished that PhD, but she and fellow MIT student Kartik Ramamoorthi — who was on the founding team at Voyager — came away with some ideas for a gene therapy startup.

Today, fully 5 years later, she and Ramamoorthi are taking the wraps off of a $104 million mega-round designed to take the cumulative work of their preclinical formative stage for Encoded Therapeutics into human studies. They’ve now raised $158 million since starting out in Illumina’s incubator in the Bay Area, and they believe they are firmly on track to do something unique in gene therapy.

Endpoints News

Basic subscription required

Unlock this story instantly and join 53,600+ biopharma pros reading Endpoints daily — and it's free.

Novotech CEO Dr. John Moller

Novotech CRO Award­ed Frost & Sul­li­van Best Biotech CRO Asia-Pa­cif­ic 2019

Known in the in­dus­try as the Asia-Pa­cif­ic CRO, Novotech is now lead CRO ser­vices provider for the grow­ing num­ber of in­ter­na­tion­al biotechs se­lect­ing the re­gion for their stud­ies.

Re­flect­ing this Asia-Pa­cif­ic growth, Novotech staff num­bers are up 20% since De­cem­ber 2018 to 600 in-house clin­i­cal re­search peo­ple across a full range of ser­vices, across the re­gion.

Novotech’s ca­pa­bil­i­ties have been rec­og­nized by an­a­lysts like Frost & Sul­li­van, most re­cent­ly with the pres­ti­gious Asia-Pa­cif­ic CRO Biotech of the year award for best prac­tices in clin­i­cal re­search for biotechs for the fifth year. See oth­er awards here.

Sanofi/Re­gen­eron mus­cle ahead of a ri­val No­var­tis/Roche team, win first ap­proval in key rhi­nos­i­nusi­tis field

Re­gen­eron and their part­ners at Sanofi have beat the No­var­tis/Roche team to the punch on an­oth­er key in­di­ca­tion for their block­buster an­ti-in­flam­ma­to­ry drug Dupix­ent. The drug team scored an ac­cel­er­at­ed FDA ap­proval for chron­ic rhi­nos­i­nusi­tis with nasal polyps, mak­ing this the first such NDA for the field.

An­a­lysts have been watch­ing this race for awhile now, as Sanofi/Re­gen­eron won a snap pri­or­i­ty re­view for what is now their third dis­ease in­di­ca­tion for this treat­ment. And they’re not near­ly done, build­ing up hopes for a ma­jor fran­chise.

Image: Chris Varma. Frontier

UP­DAT­ED: Chris Var­ma un­veils MP­M's lat­est start­up — eye­ing 'un­drug­gable' can­cer tar­gets and pow­ered by ma­chine learn­ing, $67M

Two years af­ter MPM Cap­i­tal en­list­ed Chris Var­ma on its busy on­col­o­gy team, the for­mer en­tre­pre­neur-in-res­i­dence is un­veil­ing his first ven­ture project out of his new stomp­ing grounds in the Bay Area: Fron­tier Med­i­cines.

For Var­ma, who’s al­so co-found­ed Blue­print Med­i­cines and built com­pa­nies at Third Rock and Flag­ship, this marks an­oth­er op­por­tu­ni­ty to ap­ply some cut­ting-edge sci­ence to “sev­er­al of the most im­por­tant and dif­fi­cult tar­gets in can­cer” — tar­gets that oth­ers have tried to tack­le with more clas­si­cal meth­ods and failed. The launch round comes in at $67 mil­lion, which should go some way in scaf­fold­ing a pre­clin­i­cal pipeline and push one or more as­sets in­to the clin­ic three years from now, he tells me.

Two biotech uni­corns swell pro­posed IPOs, eye­ing a $600M-plus wind­fall

We’ve been wait­ing for the ar­rival of Bridge­Bio’s IPO to top off the wave of new biotech of­fer­ings sweep­ing through Nas­daq at the end of H1. And now we learn that it’s been sub­stan­tial­ly up­sized.

Ini­tial­ly pen­ciled in at a uni­corn-sized $225 mil­lion, the KKR-backed biotech has spiked that to the neigh­bor­hood of $300 mil­lion, look­ing to sell 20 mil­lion shares at $14 to $16 each. That’s an added 5 mil­lion shares, re­ports Re­nais­sance Cap­i­tal, which fig­ures the pro­posed mar­ket val­u­a­tion for Neil Ku­mar’s com­pa­ny at $1.8 bil­lion.

No­var­tis holds back the copy­cat brigade's at­tack on its top drug fran­chise — for now

A fed­er­al judge has put a gener­ic chal­lenge to No­var­tis’ block­buster mul­ti­ple scle­ro­sis drug Gilenya on hold while a patent fight plays out in court.

Judge Leonard P. Stark is­sued a tem­po­rary in­junc­tion ear­li­er this week, forc­ing My­lan, Dr. Red­dy’s Lab­o­ra­to­ries and Au­robindo Phar­ma to shelve their launch plans to al­low the patent fight to pro­ceed. He ruled that al­low­ing the gener­ics in­to the mar­ket now would per­ma­nent­ly slash the price for No­var­tis, even if it pre­vails. 

Top an­a­lyst finds a sil­ver lin­ing in Ab­b­Vie’s $63B Al­ler­gan buy­out — but there’s a catch

Af­ter get­ting beat up on all sides from mar­ket ob­servers who don’t much care for the lat­est mega-deal to ar­rive in bio­phar­ma, at least one promi­nent an­a­lyst now is start­ing to like what he sees in the num­bers for Ab­b­Vie/Al­ler­gan.

But it’s go­ing to take some en­cour­age­ment if Ab­b­Vie ex­ecs want it to last.

Ab­b­Vie’s mar­ket cap de­clined $20 bil­lion on Tues­day as the stock took a 17% hit dur­ing the day. And SVB Leerink’s Ge­of­frey Porges can see a dis­tinct out­line of an up­side af­ter re­view­ing the fun­da­men­tals of the deal.

Endpoints News

Basic subscription required

Unlock this story instantly and join 53,600+ biopharma pros reading Endpoints daily — and it's free.

While Ako­rn works to re­vive its for­tunes, the FDA hits it with an­oth­er warn­ing let­ter

Ako­rn just can’t dig it­self out of its hole.

The spe­cial­ty gener­ic drug­mak­er has re­ceived yet an­oth­er warn­ing let­ter from the FDA this year. With­out dis­clos­ing any specifics, the Lake For­est, Illi­nois-based drug­mak­er on Wednes­day said the US reg­u­la­tor had is­sued the let­ter, cit­ing an in­spec­tion of its Som­er­set, New Jer­sey man­u­fac­tur­ing fa­cil­i­ty in Ju­ly and Au­gust of 2018. The com­pa­ny’s shares $AKRX dipped about 1.7% to $4.65 be­fore the bell.