News brief­ing: UK biotech 4D phar­ma heads for Nas­daq via SPAC; Dr. Red­dy's shuts down man­u­fac­tur­ing af­ter cy­ber­at­tack

An­oth­er phar­ma com­pa­ny is in­tend­ing to use a SPAC to join the Nas­daq.

4D phar­ma, a UK-based biotech, is re­verse-merg­ing with a blank check com­pa­ny in a deal worth up to $37.6 mil­lion. The move will give 4D phar­ma a new Nas­daq tick­er, which will be $LBPS, us­ing the Amer­i­can De­posi­tary Share pro­gram. 4D will con­tin­ue to trade on the Lon­don stock ex­change un­der its pre­vi­ous tick­er.

As a re­sult of the move, 4D phar­ma will gain $14.6 mil­lion in cash held by the blank check com­pa­ny, dubbed Longevi­ty $LOAC. The merg­er is ex­pect­ed to be com­plet­ed in ear­ly 2021, af­ter which shares will be im­me­di­ate­ly trade­able on Nas­daq.

4D’s Lon­don stock is ex­pect­ed to open at about $1.44 per share, rep­re­sent­ing about an 18% pre­mi­um on Wednes­day’s clos­ing price.

The com­pa­ny’s re­search fo­cus­es on har­ness­ing bac­te­ria from the hu­man gut to treat a wide range of dis­eases. Its lead pro­gram is cur­rent­ly in a Phase I/II study in com­bi­na­tion with Keytru­da ex­am­in­ing how it could af­fect sol­id tu­mors. 4D phar­ma al­so has clin­i­cal pro­grams in pan­cre­at­ic can­cer, asth­ma, Covid-19 and ir­ri­ta­ble bow­el syn­drome.

In­dia’s Dr. Red­dy’s the tar­get of an ap­par­ent cy­ber­at­tack

An ap­par­ent cy­ber­at­tack forced In­di­an drug­mak­er Dr. Red­dy’s to shut down all of its glob­al man­u­fac­tur­ing fa­cil­i­ties.

The at­tack oc­curred ear­ly Thurs­day morn­ing lo­cal time, ac­cord­ing to com­pa­ny reg­u­la­to­ry fil­ings. Dr. Red­dy’s in­formed the lo­cal stock ex­change that “in the wake of a de­tect­ed cy­ber-at­tack, we have iso­lat­ed all da­ta cen­ter ser­vices to take re­quired pre­ven­tive ac­tions.”

It was not im­me­di­ate­ly clear what kind of cy­ber­at­tack hit the com­pa­ny, be it ran­somware or some­thing else. CIO Mukesh Rathi said in the fil­ing that he ex­pects the com­pa­ny’s op­er­a­tions to be back up and run­ning at full ca­pac­i­ty with­in 24 hours.

Thurs­day’s at­tack comes less than a week af­ter In­di­an reg­u­la­tors ap­proved a Phase II/III study of Rus­sia’s Covid-19 vac­cine to com­mence in the coun­try.

Haystack Sci­ences ac­quired by in­sitro, bol­ster­ing ma­chine learn­ing ca­pa­bilites

AI and ma­chine learn­ing have long been the­o­rized as one of the next steps in drug R&D evo­lu­tion, and Thurs­day saw a deal aim­ing to cap­i­tal­ize on that front.

The ma­chine learn­ing-dri­ven com­pa­ny in­sitro an­nounced that it is ac­quir­ing Haystack Sci­ences, a pri­vate com­pa­ny de­vel­op­ing its own ma­chine learn­ing plat­form to help en­able drug dis­cov­ery. Fi­nan­cial terms of the deal were not dis­closed.

Haystack’s ap­proach fo­cus­es on syn­the­siz­ing, breed­ing and an­a­lyz­ing di­verse chem­i­cal li­braries en­cod­ed by unique DNA se­quences called DNA-en­cod­ed li­braries, or DELs. The tech can al­so ex­e­cute rapid fol­low-up and pos­sess­es a pro­pri­etary se­mi-quan­ti­ta­tive screen­ing tech­nol­o­gy that gen­er­ates datasets with high­er res­o­lu­tion than con­ven­tion­al “pan­ning” ap­proach­es.

All that goes in­to in­sitro’s ap­proach of gen­er­at­ing pre­dic­tive mod­els that the com­pa­ny us­es to ac­cel­er­ate tar­get se­lec­tion and de­vel­op their ther­a­pies.

Health­care Dis­par­i­ties and Sick­le Cell Dis­ease

In the complicated U.S. healthcare system, navigating a serious illness such as cancer or heart disease can be remarkably challenging for patients and caregivers. When that illness is classified as a rare disease, those challenges can become even more acute. And when that rare disease occurs in a population that experiences health disparities, such as people with sickle cell disease (SCD) who are primarily Black and Latino, challenges can become almost insurmountable.

David Meek, new Mirati CEO (Marlene Awaad/Bloomberg via Getty Images)

Fresh off Fer­Gene's melt­down, David Meek takes over at Mi­rati with lead KRAS drug rac­ing to an ap­proval

In the insular world of biotech, a spectacular failure can sometimes stay on any executive’s record for a long time. But for David Meek, the man at the helm of FerGene’s recent implosion, two questionable exits made way for what could be an excellent rebound.

Meek, most recently FerGene’s CEO and a past head at Ipsen, has become CEO at Mirati Therapeutics, taking the reins from founding CEO Charles Baum, who will step over into the role of president and head of R&D, according to a release.

So what hap­pened with No­var­tis' gene ther­a­py group? Here's your an­swer

Over the last couple of days it’s become clear that the gene therapy division at Novartis has quietly undergone a major reorganization. We learned on Monday that Dave Lennon, who had pursued a high-profile role as president of the unit with 1500 people, had left the pharma giant to take over as CEO of a startup.

Like a lot of the majors, Novartis is an open highway for head hunters, or anyone looking to staff a startup. So that was news but not completely unexpected.

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Who are the women su­per­charg­ing bio­phar­ma R&D? Nom­i­nate them for this year's spe­cial re­port

The biotech industry has faced repeated calls to diversify its workforce — and in the last year, those calls got a lot louder. Though women account for just under half of all biotech employees around the world, they occupy very few places in C-suites, and even fewer make it to the helm.

Some companies are listening, according to a recent BIO survey which showed that this year’s companies were 2.5 times more likely to have a diversity and inclusion program compared to last year’s sample. But we still have a long way to go. Women represent just 31% of biotech executives, BIO reported. And those numbers are even more stark for women of color.

Jacob Van Naarden (Eli Lilly)

Ex­clu­sives: Eli Lil­ly out to crash the megablock­buster PD-(L)1 par­ty with 'dis­rup­tive' pric­ing; re­veals can­cer biotech buy­out

It’s taken 7 years, but Eli Lilly is promising to finally start hammering the small and affluent PD-(L)1 club with a “disruptive” pricing strategy for their checkpoint therapy allied with China’s Innovent.

Lilly in-licensed global rights to sintilimab a year ago, building on the China alliance they have with Innovent. That cost the pharma giant $200 million in cash upfront, which they plan to capitalize on now with a long-awaited plan to bust up the high-price market in lung cancer and other cancers that have created a market worth tens of billions of dollars.

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Take­da snaps up the Japan­ese rights to an old Shire cast-off; Boehringer In­gel­heim ac­quires Abexxa Bi­o­log­ics

A week before the FDA is set to decide on Mirum Pharmaceuticals’ lead liver disease drug — an old Shire cast-off called maralixibat — Takeda is swooping in to secure the rights in Japan.

Maralixibat’s roots trace back to Lumena, which was snapped up by Shire for $260 million-plus back in 2014. While the candidate had failed mid-stage studies at Shire, Mirum believes better trial design and patient selection will deliver the wins it needs. The drug is currently in development for Alagille syndrome (a condition called ALGS in which bile builds up in the liver), progressive familial intrahepatic cholestasis (PFIC, which causes progressive liver disease) and biliary atresia (a blockage in the ducts that carry bile from the liver to the gallbladder).

When ef­fi­ca­cy is bor­der­line: FDA needs to get more con­sis­tent on close-call drug ap­provals, agency-fund­ed re­search finds

In the exceedingly rare instances in which clinical efficacy is the only barrier to a new drug’s approval, new FDA-funded research from FDA and Stanford found that the agency does not have a consistent standard for defining “substantial evidence” when flexible criteria are used for an approval.

The research comes as the FDA is at a crossroads with its expedited-review pathways. The accelerated approval pathway is under fire as the agency recently signed off on a controversial new Alzheimer’s drug, with little precedent to explain its decision. Meanwhile, top officials like Rick Pazdur have called for a major push to simplify and clarify all of the various expedited pathways, which have grown to be must-haves for sponsors of nearly every newly approved drug.

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Jay Bradner (Jeff Rumans for Endpoints News)

Div­ing deep­er in­to in­her­it­ed reti­nal dis­or­ders, No­var­tis gob­bles up an­oth­er bite-sized op­to­ge­net­ics biotech

Right about a year ago, a Novartis team led by Jay Bradner and Cynthia Grosskreutz at NIBR swooped in to scoop up a Cambridge, MA-based opthalmology gene therapy company called Vedere. Their focus was on a specific market niche: inherited retinal dystrophies that include a wide range of genetic retinal disorders marked by the loss of photoreceptor cells and progressive vision loss.

But that was just the first deal that whet their appetite.

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Lat­est news: It’s a no on uni­ver­sal boost­ers; Pa­tient death stuns gene ther­a­py field; In­side Tril­li­um’s $2.3B turn­around; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

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