→ Ignyta has fresh reason to focus more on entrectinib, its TRK inhibitor for the treatment of NTRK fusion-positive tumors. The FDA has handed out its breakthrough therapy designation for the program, helping ignite a surge in its share price ($RXDX, up 11%). The therapy, now in Phase II, should receive open door treatment by regulators, now charged with helping speed the drug through to an approval.
→ Thermo Fisher Scientific is extending its reach into contract drug manufacturing, buying Patheon in a deal with a purchase price of $7.2 billion. Patheon has been led by former Biogen CEO Jim Mullen since 2011. This latest buyout follows a long string of deals for CMOs and CROs.
→ Cambridge, MA-based Dragonfly Therapeutics has drawn in new investors, including Celgene Switzerland “and a number of family office investors including Disney family members and the Duke of Bedford.”
→ Israel’s Alcobra said that CEO Yaron Daniely is stepping down to head up the tech transfer arm at Hebrew University.
The best place to read Endpoints News? In your inbox.
Full-text daily reports for those who discover, develop, and market drugs. Join 17,000+ biopharma pros who read Endpoints News by email every day.Free Subscription