Genentech vet Troy Cox named Foundation Med CEO; Momenta inks a $600M collaboration deal
• Troy Cox, the senior VP of oncology sales and marketing at Genentech, is leaving the big Roche subsidiary to take the CEO’s job at Foundation Medicine $FMI. Longtime CEO Michael Pellini is taking the chairman’s post as Alexis Borisy stays on the board.
• Momenta Pharmaceuticals $MNTA is partnering with Australia’s CSL on the development and commercialization of Fc multimer proteins, including Momenta’s M230. Momenta gets $50 million up front and a shot at up to $550 million in milestones. “This collaboration and license agreement with CSL validates our belief that M230 is an exciting recombinant product candidate for potential use in autoimmune indications. It was developed using our proprietary Fc biology platform and understanding of how intravenous immunoglobulin (IVIg) works in autoimmune diseases,” said Momenta CEO Craig A. Wheeler.
• Two months after shares of Dynavax cratered after the FDA once again rejected its application to market the hepatitis B vaccine Heplisav-B, the biotech is restructuring, cutting 38% of its staff and refocusing its R&D plans on immuno-oncology.
• Enanta Pharmaceuticals has decided to drop work on its hep C program for EDP-494 and focus its efforts on its wholly-owned programs in NASH/PBC, RSV and HBV.