It turns out that ex-Google ventures chief Bill Maris doesn’t actually want to run his own healthcare fund after all. After lining up $230 million to get things kicked off, Maris tells Recode that he’s now decided to take a pass. “(S)taring down the barrel of doing again exactly what I just did was not inspiring me, and I pulled the plug. Life is too short to not be true to yourself. I’m still taking time off and exploring some other ideas that may be more fun and impactful.”
UK fund manager Neil Woodford has had it with Northwest Bio $NWBO. After taking a big stake in the US biotech and its cancer vaccine, the company’s share value has been shredded, with allegations about self-dealing execs undermining confidence in the company. Now The Times reports he won’t be investing any more into the company. “We initially invested in Northwest because we believed in the technology,” he said, according to The Times. “What we underestimated was how governance issues would undermine the fundamental technology story.”
Burlington, MA-based Flexion has filed an application for its osteoarthritis drug FX006, which will be sold as Zilretta if approved.
Sanofi became the latest Big Pharma player to ax a large contingent of its sales force. In this case the company is chopping 20% of its US diabetes and cardio sales force after watching its big drug franchise wilt. Novo Nodisk and AstraZeneca has already made their own planned cuts.
Seattle Genetics has posted a Phase I update on SGN-LIV1A for patients with metastatic breast cancer.
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