Korean officials launch Hanmi probe in wake of tox reports; Prothena CEO Schenk dies
As we reported late last week, Boehringer Ingelheim had to do some explaining about its abrupt decision to cancel a $730 million deal with Korea’s Hanmi. The cancer drug was linked to several cases of severe toxicity and one death. Now South Korean officials want to check out if there was any hanky panky around stock trades ahead of the announcement, which came right on the heels of an announced pact with Genentech.
Dale Schenk, the CEO of South San Francisco-based Prothena and former CSO at Elan, has died from pancreatic cancer. Gene Kinney, the CSO and COO, is taking over as CEO of the company.
UCB and Dermira $DERM say that a Phase III study of Cimzia hit the co-primary endpoints in adult patients with moderate-to-severe chronic plaque psoriasis. This is the first of three late-stage studies.
Boston-based Albireo says that a pivotal Phase III Japanese study of elobixibat was a success in chronic constipation, setting up an application with Japanese regulators.
With its shares mired deep in penny stock land and its lead drug on clinical hold, longtime CTI BioPharma $CTIC exec Jim Bianco is finally on his way out of the company. Bianco experienced more setbacks than most CEOs survive, rolling through lead drugs and insisting all along that he was on track to big things. None of it panned out, however. The last word about the company was that Shire wanted out of its pact with CTI on pacritinib, which is on full clinical hold. Said Bianco (evidently without a trace of irony): “With pacritinib at its current stage of development, this is the right time for me to retire and pursue other passions in my life.”