Protocols: Mallinckrodt lands a new corporate campus in NJ; Nutrinia bags a $30M round for oral insulin
Following a string of acquisitions, Mallinckrodt is investing $80 million to create a new campus in New Jersey for its development and sales crew. About 400 staffers will move in to the Somerset Financial Center, 1405-1425 Route 206, in Bedminster in the early part of next year, the company reports. Just days ago Mallinckrodt brought a regenerative med company called Stratatech and its specialty pharma arm has also been buying up marketed products. The company also reports that it is beginning new construction at its manufacturing operations in St. Louis.
Israel’s Nutrinia has rounded up $30 million in venture cash to back its work on an oral insulin for infants who suffer from intestinal malabsorption. The Series D comes from TPG Biotech, which led the round, along with H.I.G. BioHealth Partners, WuXi Healthcare Ventures as well as existing investors such as OrbiMed and Pontifax. The biotech specializes in rare GI disease drugs and has an office in Morristown, NJ.
A federal court ruling invalidating key patents on J&J’s Remicade is likely to clear the path for Pfizer and Celltrion to begin selling their biosimilar of the drug. Biosimilars have been coming on strong this year, winning acceptance at the FDA and promising to introduce cheaper knockoffs of some of the world’s biggest biologic blockbusters.