Lon­don list­ed PureTech Health joins forces with ninth big phar­ma part­ner — Boehringer In­gel­heim

PureTech Health — which is de­vel­op­ing ther­a­peu­tics to tack­le dys­func­tions in the brain-im­mune-gut ax­is — is adding an­oth­er big bio­phar­ma­ceu­ti­cal com­pa­ny, Ger­many’s Boehringer In­gel­heim, to its rich ros­ter of part­ners with deep pock­ets.

The re­search col­lab­o­ra­tion al­lows Boehringer ac­cess to PureTech’s lym­phat­ic tar­get­ing tech­nol­o­gy for im­mune mod­u­la­tion. In re­turn, PureTech is el­i­gi­ble to re­ceive up to $26 mil­lion, in­clud­ing up­front pay­ments, re­search sup­port, and pre­clin­i­cal mile­stones, as well as an­oth­er $200 mil­lion in de­vel­op­ment and sales mile­stones, in ad­di­tion to roy­al­ties on prod­uct sales.

The tech­nol­o­gy was de­vel­oped out of re­search by Chris Porter and his team at the Aus­tralian Monash In­sti­tute of Phar­ma­ceu­ti­cal Sci­ences and ex­clu­sive­ly in-li­censed by PureTech. It is de­signed to reroute drugs di­rect­ly in­to the lym­phat­ic sys­tem when ad­min­is­tered oral­ly, by­pass­ing the liv­er. Specif­i­cal­ly, ther­a­pies are en­gi­neered to make a bee­line for the mesen­teric lymph nodes, which are key cen­ters for im­mune cell prim­ing, ed­u­ca­tion and pro­lif­er­a­tion in the gas­troin­testi­nal tract. By tar­get­ing the lym­phat­ic sys­tem di­rect­ly, pa­tients can be spared from the risks of sys­temic drug ex­po­sure and po­ten­tial tox­i­c­i­ty. Pre­clin­i­cal da­ta sug­gest the tech plat­form could cat­alyze the de­vel­op­ment of com­par­a­tive­ly more ef­fec­tive and less tox­ic ther­a­peu­tics to ad­dress can­cer, in­flam­ma­to­ry and au­toim­mune dis­eases.

The Boehringer tie up will fo­cus first on us­ing this ap­proach to ad­min­is­ter an im­muno-on­col­o­gy can­di­date for gas­troin­testi­nal can­cers. Once prod­uct can­di­dates en­ter the de­vel­op­ment stage, Boehringer will take charge of R&D.

Boston-head­quar­tered but Lon­don-list­ed PureTech (LON: $PRTC) al­ready has a pletho­ra of big phar­ma part­ners in its ar­se­nal, in­clud­ing Am­gen $AMGN, Lil­ly $LLY, J&J $JNJ, Pfiz­er $PFE and Roche. This Boehringer deal is the sec­ond big phar­ma col­lab­o­ra­tion for PureTech’s in­ter­nal R&D di­vi­sion af­ter it inked a deal with the Swiss drug­mak­er last year.

PureTech al­so has a string of af­fil­i­ate drug de­vel­op­ers in­clude Vedan­ta, resTOR­bio and Karuna. Ear­li­er this week, a hy­dro­gel cap­sule de­vel­oped by PureTech af­fil­i­ate Gele­sis was ap­proved by the FDA for weight man­age­ment.

As it hap­pened: A bid­ding war for an an­tibi­ot­ic mak­er in a mar­ket that has rav­aged its peers

In a bewildering twist to the long-suffering market for antibiotics — there has actually been a bidding war for an antibiotic company: Tetraphase.

It all started back in March, when the maker of Xerava (an FDA approved therapy for complicated intra-abdominal infections) said it had received an offer from AcelRx for an all-stock deal valued at $14.4 million.

The offer was well-timed. Xerava was approved in 2018, four years after Tetraphase posted its first batch of pivotal trial data, and sales were nowhere near where they needed to be in order for the company to keep its head above water.

BiTE® Plat­form and the Evo­lu­tion To­ward Off-The-Shelf Im­muno-On­col­o­gy Ap­proach­es

Despite rapid advances in the field of immuno-oncology that have transformed the cancer treatment landscape, many cancer patients are still left behind.1,2 Not every person has access to innovative therapies designed specifically to treat his or her disease. Many currently available immuno-oncology-based approaches and chemotherapies have brought long-term benefits to some patients — but many patients still need other therapeutic options.3

RA Cap­i­tal, Hill­house join $310M rush to back Ever­est's climb to com­mer­cial heights in Chi­na

Money has never been an issue for Everest Medicines. With an essentially open tab from their founders at C-Bridge Capital, the biotech has gone two and a half years racking up drug after drug, bringing in top exec after top exec, and issuing clinical update after update.

But now other investors want in — and they’re betting big.

Everest is closing its Series C at $310 million. The first $50 million comes from the Jiashan National Economic and Technological Development Zone; the remaining C-2 tranche was led by Janchor Partners, with RA Capital Management and Hillhouse Capital as co-leaders. Decheng Capital, GT Fund, Janus Henderson Investors, Rock Springs Capital, Octagon Investments all joined.

Drug man­u­fac­tur­ing gi­ant Lon­za taps Roche/phar­ma ‘rein­ven­tion’ vet as its new CEO

Lonza chairman Albert Baehny took his time headhunting a new CEO for the company, making it absolutely clear he wanted a Big Pharma or biotech CEO with a good long track record in the business for the top spot. In the end, he went with the gold standard, turning to Roche’s ranks to recruit Pierre-Alain Ruffieux for the job.

Ruffieux, a member of the pharma leadership team at Roche, spent close to 5 years at the company. But like a small army of manufacturing execs, he gained much of his experience at the other Big Pharma in Basel, remaining at Novartis for 12 years before expanding his horizons.

President Donald Trump (left) and Moncef Slaoui, head of Operation Warp Speed (Alex Brandon, AP Images)

UP­DAT­ED: White House names fi­nal­ists for Op­er­a­tion Warp Speed — with 5 ex­pect­ed names and one no­table omis­sion

A month after word first broke of the Trump Administration’s plan to rapidly accelerate the development and production of a Covid-19 vaccine, the White House has selected the five vaccine candidates they consider most likely to succeed, The New York Times reported.

Most of the names in the plan, known as Operation Warp Speed, will come as little surprise to those who have watched the last four months of vaccine developments: Moderna, which was the first vaccine to reach humans and is now the furthest along of any US effort; J&J, which has not gone into trials but received around $500 million in funding from BARDA earlier this year; the joint AstraZeneca-Oxford venture which was granted $1.2 billion from BARDA two weeks ago; Pfizer, which has been working with the mRNA biotech BioNTech; and Merck, which just entered the race and expects to put their two vaccine candidates into humans later this year.

Is a pow­er­house Mer­ck team prepar­ing to leap past Roche — and leave Gilead and Bris­tol My­ers be­hind — in the race to TIG­IT dom­i­na­tion?

Roche caused quite a stir at ASCO with its first look at some positive — but not so impressive — data for their combination of Tecentriq with their anti-TIGIT drug tiragolumab. But some analysts believe that Merck is positioned to make a bid — soon — for the lead in the race to a second-wave combo immuno-oncology approach with its own ambitious early-stage program tied to a dominant Keytruda.

Endpoints Premium

Premium subscription required

Unlock this article along with other benefits by subscribing to one of our paid plans.

Covid-19 roundup: Ab­b­Vie jumps in­to Covid-19 an­ti­body hunt; As­traZeneca shoots for 2B dos­es of Ox­ford vac­cine — with $750M from CEPI, Gavi

Another Big Pharma is entering the Covid-19 antibody hunt.

AbbVie has announced a collaboration with the Netherlands’ Utrecht University and Erasmus Medical Center and the Chinese-Dutch biotech Harbour Biomed to develop a neutralizing antibody that can treat Covid-19. The antibody, called 47D11, was discovered by AbbVie’s three partners, and AbbVie will support early preclinical work, while preparing for later preclinical and clinical development. Researchers described the antibody in Nature Communications last month.

David Meline (file photo)

Mod­er­na’s new CFO took a cut in salary to jump to the mR­NA rev­o­lu­tion­ary. But then there’s the rest of the com­pen­sa­tion pack­age

David Meline took a little off the top of his salary when he jumped from the CFO post at giant Amgen to become the numbers czar at the upstart vaccines revolutionary Moderna. But the SEC filing that goes with a major hire also illustrates how it puts him in line for a fortune — provided the biotech player makes good as a promising game changer.

To be sure, there’s nothing wrong with the base salary: $600,000. Or the up-to 50% annual cash bonus — an industry standard — that comes with it. True, the 62-year-old earned $999,000 at Amgen in 2019, but it’s the stock options that really count in the current market bliss for all things biopharma. And there Meline did well.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 83,100+ biopharma pros reading Endpoints daily — and it's free.

Por­tion of Neil Wood­ford’s re­main­ing in­vest­ments, in­clud­ing Nanopore, sold off for $284 mil­lion

It’s been precisely one year and one day since Neil Woodford froze his once-vaunted fund, and while a global pandemic has recently shielded him from the torrent of headlines, the fallout continues.

Today, the California-based patent licensing firm Acacia Research acquired the fund’s shares for 19 healthcare and biotech companies for $284 million.  Those companies include shares for public and private companies and count some of Woodford’s most prominent bio-bets, such as Theravance Biopharma, Oxford Nanopore and Mereo Biopharma, according to Sky News, which first reported the sale. It won’t include shares for BenevelontAI, the machine learning biotech once valued at $2 billion.