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)

Has the mo­ment fi­nal­ly ar­rived for val­ue-based health­care?

RBC Capital Markets’ Healthcare Technology Analyst, Sean Dodge, spotlights a new breed of tech-enabled providers who are rapidly transforming the way clinicians deliver healthcare, and explores the key question: can this accelerating revolution overturn the US healthcare system?

Key points

Tech-enabled healthcare providers are poised to help the US transition to value, not volume, as the basis for reward.
The move to value-based care has policy momentum, but is risky and complex for clinicians.
Outsourced tech specialists are emerging to provide the required expertise, while healthcare and tech are also converging through M&A.
Value-based care remains in its early stages, but the transition is accelerating and represents a huge addressable market.

Clay Siegall, Morphimmune CEO

Up­dat­ed: Ex-Seagen chief Clay Sie­gall emerges as CEO of pri­vate biotech

Clay Siegall will be back in the CEO seat, taking the helm of a private startup working on targeted cancer therapies.

It’s been almost a year since Siegall resigned from Seagen, the biotech he co-founded and led for more than 20 years, in the wake of domestic violence allegations by his then-wife. His eventual successor, David Epstein, sold the company to Pfizer in a $43 billion deal unveiled last week.

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Stuart Peltz, former PTC Therapeutics CEO

Stu­art Peltz re­signs as PTC Ther­a­peu­tics CEO af­ter 25 years

Stuart Peltz, the longtime CEO of PTC Therapeutics who’s led the rare disease drug developer since its founding 25 years ago, is stepping down.

Succeeding him in the top job is Matthew Klein, who joined PTC in 2019 and was promoted to chief operating officer in 2022. In a call with analysts, he said the CEO transition has been planned for “quite some time” — in fact, as part of it, he gave the company’s presentation at the JP Morgan healthcare conference earlier this year.

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Bet­ter Ther­a­peu­tics cuts 35% of staff while await­ing dig­i­tal ther­a­peu­tic ap­proval

Digital therapeutics company Better Therapeutics announced on Thursday that it’s cutting 35% of its staff as it awaits FDA clearance for its first product.

The company, which launched eight years ago, is one of a growing group of companies seeking a digital alternative to traditional medicine. The space saw a record $7.5 billion in investments in 2021, according to Chris Dokomajilar at DealForma, with uses spanning ADHD, PTSD and other indications. However, private insurers have been slow to hop on board.

Mark Womack, BioCina CEO

Q&A: BioCi­na’s new CEO Mark Wom­ack on the CD­MO he says is 'worth trav­el­ing over'

A handful of CDMOs have made changes at the top over the past few weeks, including Genezen and Curia.

That also includes Australian CDMO BioCina, which announced last week that Mark Womack would be taking the helm. Womack previously served as chief business officer at AGC Biologics, CEO of Indian manufacturer Stelis Biopharma and most recently, CEO at CDMO KBI Biopharma and Selexis SA.

BioCina completed the takeover of a Pfizer manufacturing facility in Adelaide in 2021 and is now prepping for wider growth. Endpoints News sat down with Womack to discuss his new role, plans for the future, and how to compete in the wider CDMO market. This interview has been edited for brevity and clarity.

No­vo Nordisk oral semaglu­tide tri­al shows re­duc­tion in blood sug­ar, plus weight loss

Novo Nordisk is testing higher levels of its oral version of its GLP-1, semaglutide, and its type 2 diabetes trial results released today show reductions in blood sugar as well as weight loss.

In the Phase IIIb trial, Novo compared its oral semaglutide in 25 mg and 50 mg doses with the 14 mg version that’s currently the maximum approved dose. The trial looked at how the doses compared when added to a stable dose of one to three oral antidiabetic medicines in people with type 2 diabetes who were in need of an intensified treatment.

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Ly­me vac­cine test com­ple­tion is pushed back by a year as Pfiz­er, Val­ne­va say they'll ad­just tri­al

Valneva and Pfizer have adjusted the end date for the Phase III study of their investigational Lyme disease vaccine, pushing it back by a year after issues at a contract researcher led to thousands of US patients being dropped from the test.

In a March 20 update to, Valneva and Pfizer moved the primary completion date on the trial, called VALOR, from the end of 2024 to the end of 2025.

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FDA spells out how can­cer drug de­vel­op­ers can use one tri­al for both ac­cel­er­at­ed and full ap­provals

The FDA’s Oncology Center of Excellence has been a bright spot within the agency in terms of speeding new treatments to patients. That flexibility was on full display this morning as FDA released new draft guidance spelling out exactly how oncology drug developers can fulfill both the accelerated and full approval’s requirements with just a single randomized controlled trial.

While Congress recently passed legislation that will allow FDA to require confirmatory trials to be recruiting and ongoing prior to granting an accelerated approval, the agency is now making clear that the initial trial used to win the AA, if designed appropriately, can also serve as the trial for converting the accelerated approval into a full approval.

Genen­tech to halt com­mer­cial man­u­fac­tur­ing in Cal­i­for­nia HQ, with lay­offs at­tached

Genentech is halting commercial manufacturing at its California headquarters — and laying off several hundred employees.

The move is the result of a decision Genentech made in 2007 to relocate its commercial manufacturing operations from its South San Francisco headquarters said Andi Goddard, Genentech’s SVP of quality and compliance for pharmaceutical technical operations, in an interview with Endpoints News. Genentech will produce medicines at its new clinical supply center, which opened in South San Francisco last year while many of its commercial products will be made at other production sites or by contract manufacturers.

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