Jeb Keiper, Nimbus CEO

Nim­bus clinch­es $125M raise via big donor-backed pri­vate fi­nanc­ing round fol­low­ing Bris­tol My­er­s' TYK2 ap­proval

More than a year af­ter rais­ing $105 mil­lion in a pri­vate fi­nanc­ing round, Nim­bus Ther­a­peu­tics is back with its next haul as it con­sid­ers its next steps, thanks to Bris­tol My­ers Squibb.

The com­pu­ta­tion­al chem­istry biotech, co-found­ed in 2009 by VC Bruce Booth, an­nounced its most re­cent fi­nanc­ing round Mon­day worth $125 mil­lion — Nim­bus’ fifth big fi­nanc­ing in the last sev­en years.

CEO Jeb Keiper tells End­points News that the fi­nanc­ing will sup­port Nim­bus’ en­tire pipeline, in­clud­ing its lead can­di­dates and pre­clin­i­cal ef­forts. At the biotech’s fore­front is its TYK2 pro­gram, which is cur­rent­ly in a Phase IIb study for pso­ri­a­sis. And ac­cord­ing to Keiper, the biotech is run­ning hot in its at­tempt to get its TYK2 drug past the reg­u­la­to­ry fin­ish line — cour­tesy of Bris­tol My­ers beat­ing them to the punch with its own TYK2 drug just last week, now brand­ed as So­tyk­tu, for pso­ri­a­sis.

The ad­di­tion­al bonus with this par­tic­u­lar ap­proval is that there was no black box warn­ing hand­ed out, a more preva­lent ef­fect of drugs re­lat­ed to the JAK fam­i­ly.

While Keiper said that Nim­bus had been bull­ish about BMS’ deu­cravac­i­tinib and its odds of suc­cess, he tout­ed in­vestor op­ti­mism in Nim­bus, adding, “I think the group of in­vestors be­hind this fi­nanc­ing is re­al­ly ex­cit­ed that we be­lieve we could have the best in class mol­e­cule.”

Nim­bus’ on­go­ing Phase IIb study, cur­rent­ly en­rolled with 250 or so pa­tients, will have a read­out by the end of the year, with plans to start a Phase III tri­al in pso­ri­a­sis next year. Be­yond pso­ri­a­sis, Nim­bus will be pur­su­ing the com­ple­tion of oth­er Phase IIb tri­als in mod­er­ate-to-se­vere plaque pso­ri­a­sis and ac­tive pso­ri­at­ic arthri­tis on top of oth­er au­toim­mune in­di­ca­tions like IBD and lu­pus.

Oth­er can­di­dates in Nim­bus’ pipeline in­clude an HPK1 in­hibitor, which is cur­rent­ly in Phase I/II clin­i­cal tri­als.

The round in­cludes two new in­vestors: Bain Cap­i­tal Life Sci­ences and SV Health In­vestors. Oth­er pre­vi­ous in­vestors tagged along, in­clud­ing Ac­cess Biotech­nol­o­gy, At­las Ven­ture, BVF Part­ners L.P., Bill Gates, Light­stone Ven­tures, Pfiz­er Ven­tures, RA Cap­i­tal Man­age­ment and SR One.

When asked about the pos­si­bil­i­ty of an IPO — thanks to RA Cap­i­tal’s re­peat­ed in­vest­ments and the pro­cliv­i­ty of RA-backed biotechs to even­tu­al­ly jump to­wards Nas­daq — Keiper not­ed that the com­pa­ny will “nev­er say nev­er” in the con­text that an IPO has not been ruled out. How­ev­er, the CEO added that a jump to Nas­daq isn’t some­thing that the com­pa­ny is cur­rent­ly plan­ning on.

Illustration: Assistant Editor Kathy Wong for Endpoints News

How Pur­due's $272M ad­dic­tion pay­out fund­ed a new home for its dis­card­ed non-opi­oid re­search

Don Kyle spent more than 20 years working for Purdue Pharma, right through the US opioid epidemic that led to the company’s rise and eventual infamy. But contrary to Purdue’s focus on OxyContin, Kyle was researching non-opioid painkillers — that is, until the company shelved his research.

As the company’s legal troubles mounted, Kyle found an unlikely way to reboot the project. In 2019, he took his work to an Oklahoma State University center that’s slated to receive more than two-thirds of the state’s $272 million settlement with Purdue over claims that the drugmaker’s behavior ignited the epidemic of opioid use and abuse.

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President Joe Biden at the State of the Union address with Vice President Kamala Harris and House Speaker Kevin McCarthy (Patrick Semansky/AP Images)

The drug pric­ing pres­i­dent: Biden warns of ve­to for any IRA re­peal at­tempts

President Joe Biden made clear in his “finish the job” State of the Union address last night that one of those jobs to be finished is insulin prices.

Biden’s push again to tackle insulin prices, after Republicans rebuffed the idea last summer and just after Biden won Medicare drug price negotiations/caps via the Inflation Reduction Act, shows how heavily he’s leaning into this work.

Rupert Vessey, Bristol Myers Squibb head of research and early development

Up­dat­ed: R&D tur­bu­lence at Bris­tol My­ers now in­cludes the end of a $650M al­liance and the de­par­ture of a top re­search cham­pi­on

This morning biotech Dragonfly put out word that Bristol Myers Squibb has handed back all rights to its IL-12 clinical-stage drug after spending $650 million to advance it into the clinic.

The news arrives amid a turbulent R&D stage for the pharma giant, which late last week highlighted Rupert Vessey’s decision to depart this summer as head of early-stage R&D following a crucial three-year stretch after he jumped to Bristol Myers in the big Celgene buyout. During that time he struck a series of deals for Bristol Myers, and also shepherded a number of Celgene programs down the pipeline, playing a major role for a lineup of biotechs which depended on him to champion their drugs.

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Bill Haney, Dragonfly CEO (Dave Pedley/Getty Images for SXSW)

Drag­on­fly chief: Bris­tol My­ers shouldn’t blame IL-12’s clin­i­cal per­for­mance for de­ci­sion to scrap the deal — eco­nom­ics played a key role

Bristol Myers Squibb says the IL-12 drug they were developing out of Dragonfly Therapeutics was scrubbed from the pipeline for a simple reason: It didn’t measure up on clinical performance.

But Bill Haney, the CEO of Dragonfly, is taking issue with that.

The early-stage drug, still in Phase I development, has passed muster with Bristol Myers’ general clinical expectations, advancing successfully while still in Phase I, he says.

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Utpal Koppikar, new Verily CFO

Ex­clu­sive: Ver­i­ly wel­comes Atara Bio­ther­a­peu­tics vet­er­an as new CFO

Verily, Alphabet’s life sciences outfit, has plucked a new CFO from the ranks of Atara Biotherapeutics, the company announced on Wednesday.

Utpal Koppikar joins Verily after a nearly five-year stint as CFO and senior VP at Atara, though his résumé also boasts roles at Gilead and Amgen.

The news follows a major reshuffling at Verily, including several senior departures earlier this year and a round of layoffs.

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Singer Nick Jonas is back at work for Dexcom, this time for its new G7 glucose monitor.

Dex­com's spokescelebri­ty Nick Jonas re­turns to Su­per Bowl in new glu­cose mon­i­tor com­mer­cial

Dexcom is going back to the Super Bowl with its pop singer and patient spokesperson Nick Jonas. Jonas takes center stage as the lone figure in the 30-second commercial showcasing Dexcom’s next-generation G7 continuous glucose monitoring (CGM) device.

Jonas’ sleight-of-hand tricks populate the commercial — he pinches his empty fingers together and pops them open to reveal the small CGM — even as he ends the ad, saying, “It’s not magic. It just feels that way.” Jonas then disappears in a puff of smoke.

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Richard Francis, newly-appointed Teva CEO (Novartis via Facebook)

New Te­va CEO Richard Fran­cis repri­or­i­tizes to 'get back to growth'

Six weeks into his new role at the helm of Teva Pharmaceutical, Richard Francis said it’s time to “get back to growth,” starting with a good look at the company’s priorities.

The chief executive has kicked off a strategic review, he announced during Teva’s quarterly call, which will continue over the next several months and produce results sometime in the middle of 2023. That means some pipeline cuts may be in store, he told Endpoints News, while declining to offer much more detail.

FDA Commissioner Robert Califf on Capitol Hill, Feb. 8, 2023 (Drew Angerer/Getty Images)

FDA com­mis­sion­er floats ideas on how to bet­ter han­dle the pan­dem­ic

FDA Commissioner Rob Califf joined the heads of the CDC and NIH in the hot seat today before a key House subcommittee, explaining that there needs to be a much faster, more coordinated way to oversee vaccine safety, and that foreign biopharma inspections, halted for years due to the pandemic, are slowly ramping up again.

Califf, who stressed to the House Energy and Commerce’s Subcommittee on Health that the CDC also needs better data, made clear that the FDA’s ability to monitor the safety of vaccines “would also benefit greatly by a coordinated federal public health data reporting authority.”

Sanofi is renewing its #VaccinesForDreams campaign with more stories, such as Juan's in Argentina (Sanofi)

Sanofi re­news so­cial cam­paign to re­mind that vac­cines let peo­ple ‘Dream Big’

Sanofi is highlighting people’s dreams — both big and small — to make the point that vaccines make them possible.

The renewed “Dream Big” global social media campaign’s newest dreamer is Juan, a teacher in the Misiones rainforest in Argentina whose story is told through videos on Instagram and Sanofi’s website with the hashtag #VaccinesForDreams.

The campaign ties to Sanofi’s broader umbrella initiative “Vaccine Stories” to promote the value of vaccines and drive awareness of the need for improved vaccination coverage.

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