Kel­ly Mar­tin skips to a new CEO suite as his last biotech team rais­es the white flag

A few months af­ter step­ping away from the helm of a biotech with a flut­ter­ing pulse, ex-Elan chief Kel­ly Mar­tin is back in charge of an­oth­er drug com­pa­ny with its own set of is­sues to deal with.

Kel­ly Mar­tin

Ra­dius Health in Waltham, MA an­nounced that the 61-year-old Mar­tin is step­ping in to re­place Jes­per Hoei­land, the No­vo vet who is now head­ed home to Den­mark. Hoei­land was brought in to lead the charge on a new os­teo­poro­sis drug mar­ket­ed as Tym­los, which hasn’t been go­ing well.

Ac­cord­ing to an SEC fil­ing, Mar­tin gets a salary of $600,000 and starts off with an op­tion on 575,000 shares, which he can buy at cur­rent mar­ket val­ue as they vest over 4 years — time he can use to add val­ue to the com­pa­ny.

Once a high fli­er in biotech — lit­er­al­ly, Mar­tin en­joyed the use of a pri­vate jet at Elan that drew quite a bit of heat from the ac­tivists be­fore he sold the com­pa­ny for $8.6 bil­lion — the ex-banker with roots in Mer­rill Lynch went on to man­age biotech in­vestor Ma­lin and then No­van, a biotech in North Car­oli­na that col­lapsed as its lead drug failed.

No­van $NOVN put out an SOS just a few days ago, an­nounc­ing a re­view of its (lim­it­ed) strate­gic op­tions as the share price with­ered to around 38 cents.

Ac­cord­ing to the last proxy state­ment avail­able from No­van, Mar­tin picked up $730,000 in salary and bonus for 2018, with about as much in stock op­tions. He held eq­ui­ty val­ued at more than $15 mil­lion — though the cur­rent share price would in­di­cate a col­lapse on that score.

At Ra­dius $RDUS, Mar­tin gets a com­pa­ny that has seen its stock price slide steadi­ly since win­ning the race with Am­gen (which had ro­mo) on os­teo­poro­sis and jump­ing in­to the mar­ket with Tym­los (abaloparatide). When it was first ap­proved, sell-side con­sen­sus es­ti­mat­ed peak sales in 2022 at $467 mil­lion.

Mar­tin and his new team have a long way to go be­fore they get there, though. To­tal sales for 2019 were $173 mil­lion, but grow­ing.

So­cial im­age: Kel­ly Mar­tin, in­com­ing Ra­dius CEO (An­dre Ca­ma­ra, The Times)

Ugur Sahin, BioNTech CEO (Bernd von Jutrczenka/dpa via AP Images)

BioN­Tech is spear­head­ing an mR­NA vac­cine de­vel­op­ment pro­gram for malar­ia, with a tech trans­fer planned for Africa

Flush with the success of its mRNA Covid-19 vaccine, BioNTech is now gearing up for one of the biggest challenges in vaccine development — which comes without potential profit.

The German mRNA pioneer says it plans to work on a jab for malaria, then transfer the tech to the African continent, where it will work with partners on developing the manufacturing ops needed to make this and other vaccines.

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How one start­up fore­told the neu­ro­science re­nais­sance af­ter '50 years of shit­show'

In the past couple of years, something curious has happened: Pharma and VC dollars started gushing into neuroscience research.

Biogen’s controversial new Alzheimer’s drug Aduhelm has been approved on the basis of removing amyloid plaque from the brain, but the new neuro-focused pharma and biotechs have much loftier aims. Significantly curbing or even curing the most notorious disorders would prove the Holy Grail for a complex system that has tied the world’s best drug developers in knots for decades.

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Why is On­col­o­gy Drug De­vel­op­ment Re­search Late to the Dig­i­tal Bio­mark­ers Game?

During the recent Annual ASCO Meeting, thousands of cancer researchers and clinicians from across the globe joined together virtually to present and discuss the latest findings and breakthroughs in cancer research and care. There were more than 5000+ scientific abstracts presented during this event, yet only a handful involved the use of motion-tracking wearables to collect digital measures relating to activity, sleep, mobility, functional status, and/or quality of life. Although these results were a bit disappointing, they should come as no surprise to those of us in the wearable technology field.

Bob Bradway, Amgen CEO (Scott Eisen/Bloomberg via Getty Images)

Am­gen bel­lies back up to the M&A ta­ble for an­oth­er biotech buy­out, this time with a $2.5B deal for an an­ti­body play­er fo­cused on PS­MA

Five months after Amgen CEO Bob Bradway stepped up to the M&A table and acquired Five Prime for $1.9 billion, following up with the smaller Rodeo acquisition, he’s gone back in for another biotech buyout.

This time around, Amgen is paying $900 million cash while committing up to $1.6 billion in milestones to bag the privately held Teneobio, an antibody drug developer that has expertise in developing new bispecifics and multispecifics. In addition, Amgen cited Teneobio’s “T-cell engager platform, which expands on Amgen’s existing leadership position in bispecific T-cell engagers by providing a differentiated, but complementary, approach to Amgen’s current BiTE platform.”

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Luciana Borio (Susan Walsh/AP Images)

UP­DAT­ED: Bob Nelsen's ARCH adds FDA, biode­fense ex­per­tise with ap­point­ment of Lu­ciana Bo­rio

Once vetted by the Biden team to lead the FDA as commissioner, Luciana Borio is now compiling quite the résumé.

Borio has now been named a venture partner at Bob Nelsen’s ARCH Venture Partners, and Nelsen told Endpoints News, “She will be involved in projects across the portfolio, including ongoing projects in manufacturing, clinical trials, gene therapy and gene editing, cell therapy, and delivery. We are exploring multiple projects in infectious disease, and next generation manufacturing.”

Art Levinson (Calico)

Google-backed Cal­i­co dou­bles down on an­ti-ag­ing R&D pact with Ab­b­Vie as part­ners ante up $1B, start to de­tail drug tar­gets

Seven years after striking up a major R&D alliance, AbbVie and Google-backed anti-aging specialist Calico are doubling down on their work with a joint, $1 billion commitment to continuing their work together. And they’re also beginning to offer some details on where this project is taking them in the clinic.

According to their statement, each of the two players is putting up $500 million more to keep the labs humming.

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Busi­ness­es and schools can man­date the use of Covid-19 vac­cines un­der EUAs, DOJ says

As public and private companies stare down the reality of the Delta variant, many are now requiring that their employees or students be vaccinated against Covid-19 prior to attending school or to returning or starting a new job. Claims that such mandates are illegal or cannot be used for vaccines under emergency use authorizations have now been dismissed.

Setting the record straight, the Department of Justice on Monday called the mandates legal in a new memo, even when used for people with vaccines that remain subject to EUAs.

No­var­tis reshuf­fles its wild cards; Tough sell for Bio­gen? Googling pro­teins; Ken Fra­zier's new gig; and more

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.

If you enjoy the People section in this report, you may also want to check out Peer Review, my colleagues Alex Hoffman and Kathy Wong’s comprehensive compilation of comings and goings in biopharma.

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Frank Pallone (Kevin Dietsch/Pool via AP Images)

House com­mit­tee seeks more from FDA on in­spec­tion back­log, when to restart work on for­eign sites

House Energy & Commerce committee leaders are raising fresh questions about the FDA’s ability to conduct foreign manufacturing site inspections and bring down its growing backlog.

“While we understand that the emergence of COVID-19 required the agency to suspend in-person inspection activities temporarily, we remain concerned that more than one year into the pandemic, the strategy for resuming all inspections and addressing the backlog of delayed inspections remains unclear,” E&C chair Frank Pallone (D-NJ) and a group of five other bipartisan leaders of the committee wrote to FDA acting commissioner Janet Woodcock.