Josh Bilenker and Jeff Engelman bundle a mother lode of cash for their stealthy startup, attracting a who’s who of biotech investors

Josh Bilenker, Endpoints JPM 2020

May 4, 2021 08:22 AM EDTUpdated 10:58 AM

Josh Bilenker and Jeff Engelman bundle a mother lode of cash for their stealthy startup, attracting a who's who of biotech investors

Josh Bilenker and Jeff Engelman won’t be worrying about money for their stealthy startup anytime soon.

Late last week the pair filed a Form D for their new biotech Treeline Biosciences outlining a $212 million raise for their new company — which Bilenker founded around the time he ejected from his top position at Eli Lilly’s oncology group.

Their plan is to top out the raise at $220 million, but with Bilenker’s list of marquee investors on board for his latest creation, that won’t be much of a stretch.

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Biotech Halftime Report: After a bumpy year, is biotech ready to rebound?

Brian Abrahams

Co-Head of Biotechnology Research

The biotech sector has come down firmly from the highs of February as negative sentiment takes hold. The sector had a major boost of optimism from the success of the COVID-19 vaccines, making investors keenly aware of the potential of biopharma R&D engines. But from early this year, clinical trial, regulatory and access setbacks have reminded investors of the sector’s inherent risks.

RBC Capital Markets recently surveyed investors to take the temperature of the market, a mix of specialists/generalists and long-only/ long-short investment strategies. Heading into the second half of the year, investors mostly see the sector as undervalued (49%), a large change from the first half of the year when only 20% rated it as undervalued. Around 41% of investors now believe that biotech will underperform the S&P500 in the second half of 2021. Despite that view, 54% plan to maintain their position in the market and 41% still plan to increase their holdings.

October 16, 2021 06:00 AM EDT

Weekly

Covid-19 vaccine boosters earn big thumbs up, but Moderna draws ire over world supply; What's next for Merck’s Covid pill?; The C-suite view on biotech; and more

Amber Tong

Senior Editor

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

You may remember that at the beginning of this year, Endpoints News set a goal to go broader and deeper. We are still working towards that, and are excited to share that Beth Snyder Bulik will be joining us on Monday to cover all things pharma marketing. You can sign up for her weekly Endpoints MarketingRx newsletter in your reader profile.

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October 15, 2021 10:21 AM EDTUpdated 11:05 AM

R&D

Novartis development chief John Tsai: 'We go deep in the new platforms'

John Carroll

Editor & Founder

During our recent European Biopharma Summit, I talked with Novartis development chief John Tsai about his experiences over the 3-plus years he’s been at the pharma giant. You can read the transcript below or listen to the exchange in the link above.

John Carroll: I followed your career for quite some time. You’ve had more than 20 years in big pharma R&D and you’ve obviously seen quite a lot. I really was curious about what it was like for you three and a half years ago when you took over as R&D chief at Novartis. Obviously a big move, a lot of changes. You went to work for the former R&D chief of Novartis, Vas Narasimhan, who had his own track record there. So what was the biggest adjustment when you went into this position?

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Amit Etkin, Alto Neuroscience CEO (Alto via Vimeo)

October 14, 2021 11:07 AM EDTUpdated 11:32 AM

Startups

A star Stanford professor leaves his lab for a startup out to remake psychiatry

Jason Mast

Editor

About five years ago, Amit Etkin had a breakthrough.

The Stanford neurologist, a soft-spoken demi-prodigy who became a professor while still a resident, had been obsessed for a decade with how to better define psychiatric disorders. Drugs for depression or bipolar disorder didn’t work for many patients with the conditions, and he suspected the reason was how traditional diagnoses didn’t actually get at the heart of what was going on in a patient’s brain.

Susan Galbraith, Executive VP, Oncology R&D, AstraZeneca

October 14, 2021 10:55 AM EDTUpdated 22 hours ago

R&D

AstraZeneca oncology R&D chief Susan Galbraith: 'You're going to need orthogonal combinations'

John Carroll

Editor & Founder

Earlier in the week we broadcast our 4th annual European Biopharma Summit with a great lineup of top execs. One of the one-on-one conversations I set up was with Susan Galbraith, the oncology research chief at AstraZeneca. In a wide-ranging discussion, Galbraith reviewed the cancer drug pipeline and key trends influencing development work at the pharma giant. You can watch the video, above, or stick with the script below. — JC

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Tillman Gerngross, Adagio CEO

October 15, 2021 07:57 AM EDTUpdated 10:08 AM

Coronavirus

Q&A: Tillman Gerngross explains why his Covid mAb will have an edge over an already crowded field

Zachary Brennan

Senior Editor

If anyone knows about monoclonal antibodies, it’s serial entrepreneur, Adimab CEO, and Dartmouth professor of bioengineering Tillman Gerngross.

Even the name of Gerngross’ new antibody startup Adagio Therapeutics is meant to reflect his vision behind the development of his Covid-19 mAb: slowly, he said, explaining that “everyone else, whether it’s Regeneron, Lilly, or AstraZeneca, Vir, they all valued speed over everything.”

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October 15, 2021 04:03 PM EDT

Pharma

FDA+

Roche's Tecentriq crosses the finish line first in adjuvant lung cancer, potentially kicking off gold rush

Kyle Blankenship

Managing Editor

While falling behind the biggest PD-(L)1 drugs in terms of sales, Roche has looked to carve out a space for its Tecentriq with a growing expertise in lung cancer. The drug will now take an early lead in the sought-after adjuvant setting — but competitors are on the way.

The FDA on Friday approved Tecentriq as an adjuvant therapy for patients with Stage II-IIIA non small cell lung cancer with PD-(L)1 scores greater than or equal to 1, making it the first drug of its kind approved in an early setting that covers around 40% of all NSCLC patients.

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Susan Galbraith speaking at Endpoints News' virtual EUBIO21 summit

October 15, 2021 07:25 AM EDT

R&D

Imfinzi/tremelimumab combo scores AstraZeneca another OS win — this time in liver cancer

Amber Tong

Senior Editor

Is the tide turning on AstraZeneca’s battered PD-L1/CTLA4 combo?

A single priming dose of the experimental tremelimumab, followed by Imfinzi every four weeks, beat Nexavar (sorafenib) in helping a group of liver cancer patients live longer in a Phase III study, the company reported, meeting the primary endpoint.

Specifically, the two drugs extended overall survival for patients with unresectable hepatocellular carcinoma who had not received prior systemic therapy and were not eligible for localized treatment.

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October 14, 2021 03:37 PM EDT

FDA+

Coronavirus

FDA's vaccine adcomm unanimously supports Moderna's booster in same populations as Pfizer's booster

Zachary Brennan

Senior Editor

The FDA’s vaccine advisory committee on Thursday voted 19-0 in support of expanding Moderna’s Covid-19 vaccine EUA for booster doses for certain high-risk individuals. FDA is expected to authorize the Moderna booster shortly.

Similarly to the Pfizer booster shot, Moderna’s will likely be authorized for those older than 65, adults at high risk of severe Covid-19, and adults whose frequent institutional or occupational exposure to SARS-CoV-2 puts them at high risk of serious complications of Covid-19. But unlike the Pfizer adcomm, where FDA had to scramble to get the committee to vote in favor of a booster, this committee was unanimous with the Moderna shot.