No Myth: CEO of ADC up­start calls it quits; Bris­tol My­ers vet Jon Wig­gin­ton scales new heights at Bright Peak

Alex Nichols

→ When Myth­ic Ther­a­peu­tics CEO Alex Nichols spoke to End­points News last De­cem­ber about the biotech’s $103 mil­lion Se­ries B, he and fel­low co-founder Bri­an Fiske em­pha­sized safe­ty, say­ing that they’re “re­al­ly work­ing on try­ing to over­come what has been one of the most his­tor­i­cal­ly chal­leng­ing ob­sta­cles to re­al­iz­ing the full po­ten­tial of AD­Cs.” But Myth­ic will have to look for some­one else to take up that man­tle.

Gilles Gal­lant

Nichols has moved on from the Waltham, MA-based biotech “in or­der to pur­sue new op­por­tu­ni­ties,” while Fiske re­mains CSO. Ad­di­tion­al­ly, Myth­ic’s new chief de­vel­op­ment of­fi­cer is Dai­ichi Sankyo vet Gilles Gal­lant, who knows AD­Cs well from his work with En­her­tu as glob­al head of on­col­o­gy clin­i­cal de­vel­op­ment. Gal­lant came to Dai­ichi Sankyo in 2017 from Bio­Marin, where he was VP, on­col­o­gy clin­i­cal sci­ences, and he al­so held sev­er­al on­col­o­gy posts at Bris­tol My­ers Squibb from 1991-2002.

Fiske, Gal­lant and COO San­dra Poole will run the com­pa­ny un­til a CEO is found.

Jon Wig­gin­ton

→ Tak­ing aim at IL-2 and IL-18, Ver­sant up­start Bright Peak Ther­a­peu­tics has tapped Jon Wig­gin­ton as pres­i­dent of R&D. At Bris­tol My­ers, he ran ear­ly clin­i­cal de­vel­op­ment of an I/O port­fo­lio that pro­duced the Op­di­vo/Ver­voy com­bo ther­a­py — which went on to col­lect mul­ti­ple ap­provals af­ter his de­par­ture. The CMO of Macro­Gen­ics from 2013-20 and a 15-year vet of the Na­tion­al Can­cer In­sti­tute, Wig­gin­ton then took off for Cul­li­nan On­col­o­gy, first as med­ical chief and lat­er as se­nior ad­vi­sor and chair­man of its sci­en­tif­ic ad­vi­so­ry board. Un­like many oth­er biotechs that are strug­gling to scale crag­gy fi­nan­cial moun­tains, Bright Peak isn’t strapped for cash af­ter a $107 mil­lion Se­ries B in June 2021.

Thomas Willem­sen

→ As Am­ber Tong told you at the start of the week, Thomas Willem­sen will take over as CEO of Sin­ga­pore’s Tes­sa Ther­a­peu­tics on Oct. 1. Sev­er­al chief ex­ec­u­tives have shut­tled in and out of the CAR-T biotech, in­clud­ing Jeff Buchal­ter, An­drew Khoo, and act­ing chief John Ng, who will slide in­to the role of chief tech­ni­cal of­fi­cer. Willem­sen winds down his three-year run at Take­da, where he was SVP, Asia-Pa­cif­ic, and he held mul­ti­ple lead­er­ship posts in Chi­na and Tai­wan with­in a 10-year pe­ri­od at GSK. His con­nec­tion to the Asia-Pa­cif­ic re­gion be­gan at Mer­ck KGaA, but he end­ed his time at the multi­na­tion­al as head of its Ger­man on­col­o­gy busi­ness unit in 2009.

Curt Her­berts

→ An­oth­er week, an­oth­er big Kriya Ther­a­peu­tics ap­point­ment: This time, the gene ther­a­py joint led by Shankar Ra­maswamy has re­cruit­ed Curt Her­berts as pres­i­dent and COO. Her­berts breaks away from Tim Lu’s crew at Sen­ti Bio­sciences, where he jug­gled the CFO and CBO posts from 2018-21 and had been COO since last year. He al­so had an eight-year run at Sang­amo, as­cend­ing to busi­ness chief in 2016. Kriya wel­comed Pe­dro Huer­tas just last week as CMO of its rare dis­ease di­vi­sion.

Sarah Grant

Cel­sius Ther­a­peu­tics has ap­point­ed Sarah Grant as CMO. Grant joins from No­var­tis, where she most re­cent­ly served as chief of staff and strate­gic as­sis­tant for the head of glob­al drug de­vel­op­ment. Her oth­er roles at No­var­tis in­clud­ed head of res­pi­ra­to­ry dis­cov­ery with­in trans­la­tion­al med­i­cine and roles in the pul­monary and im­munol­o­gy in­di­ca­tions. Pri­or to her ca­reer at No­var­tis, Grant was with Har­vard Med­ical School and Brigham and Women’s Hos­pi­tal.

Liz Mc­K­ee An­der­son

Liz Mc­K­ee An­der­son has left the board of di­rec­tors at mon­key­pox vac­cine mak­er Bavar­i­an Nordic to take a board seat at GSK. Mc­K­ee An­der­son round­ed out her 11-year tenure with Janssen in 2014 as the world­wide VP and com­mer­cial leader in in­fec­tious dis­eases and vac­cines, and she sits on the boards of Bio­Marin, Rev­o­lu­tion Med­i­cines, In­smed and Aro Bio­ther­a­peu­tics. Dana-Far­ber pres­i­dent and CEO Lau­rie Glim­ch­er will step down from the board on Oct. 13, an an­nounce­ment that was made dur­ing a busy few months at the phar­ma gi­ant that have in­clud­ed the Sier­ra On­col­o­gy buy­out, the wob­bly start to the con­sumer health spin­off Ha­le­on, and an ADC deal with Mer­sana Ther­a­peu­tics.

Lar­ry Mer­lo

→ Ex-CVS Health CEO Lar­ry Mer­lo will chair what’s cur­rent­ly known as J&J’s New Con­sumer Health Com­pa­ny, which will be helmed by Thibaut Mon­gon. The an­nounce­ment comes af­ter Math­ai Mam­men shock­ing­ly split the scene as the phar­ma gi­ant’s R&D chief a cou­ple weeks ago, with William Hait — J&J’s EVP, chief ex­ter­nal in­no­va­tion, med­ical safe­ty and glob­al pub­lic health of­fi­cer — pinch-hit­ting in the in­ter­im. The con­sumer health split is slat­ed to take ef­fect next year.

Cary Clai­borne

→ Against the back­drop of last month’s Phase III dud with its al­co­hol use dis­or­der drug AD04, Adi­al Phar­ma­ceu­ti­cals has ap­point­ed Cary Clai­borne as CEO while William Stil­ley — Adi­al’s chief ex­ec­u­tive since 2010 — be­comes CEO of the Vir­ginia biotech’s sub­sidiary Purnovate. Clai­borne joined Adi­al last De­cem­ber as COO, and he’s made sev­er­al stops as a CFO with such com­pa­nies as In­di­v­ior, Su­cam­po Phar­ma­ceu­ti­cals and Osiris Ther­a­peu­tics. One oth­er snip­pet of Adi­al in­fo: Kevin Schuyler, a board mem­ber since 2016, has been named chair­man.

Eleanor de Groot

→ In wait-and-see mode af­ter the FDA im­posed an is­la­travir-re­lat­ed hold on HIV can­di­date BRII-732, Brii Bio­sciences has wel­comed Eleanor de Groot as chief tech­nol­o­gy of­fi­cer and Alek­san­dar Skuban as CNS dis­eases ther­a­py area head. A for­mer Helsinn ex­ec, de Groot was with Alaunos Ther­a­peu­tics (known as Zio­pharm un­til Jan­u­ary) since 2015 and had served as EVP of op­er­a­tions for al­most a year. Af­ter a hand­ful of posts in a sev­en-year pe­ri­od with Ot­su­ka, Skuban head­ed to Alex­ion as ex­ec­u­tive med­ical di­rec­tor in its oph­thal­mol­o­gy ther­a­peu­tic area. Since last No­vem­ber, he had been SVP of clin­i­cal de­vel­op­ment at Bet­ter Ther­a­peu­tics.

Anne-Vir­ginie Eggi­mann

→ No soon­er had the gene ther­a­py drug Zyn­te­glo been ap­proved for trans­fu­sion-de­pen­dent be­ta tha­lassemia than Anne-Vir­ginie Eggi­mann was out of the pic­ture at blue­bird bio. Two days re­moved from the Zyn­te­glo tri­umph, she’s now the chief reg­u­la­to­ry of­fi­cer at Flag­ship gene writ­ing out­fit Tessera Ther­a­peu­tics af­ter a year in the same po­si­tion at blue­bird and 11 years over­all. And De­r­i­ca Rice, who had a 27-year ca­reer with Eli Lil­ly be­fore join­ing CVS Health, has been elect­ed to Tessera’s board of di­rec­tors. Kyle LaHu­cik has more about this move at Tessera, cur­rent­ly run by for­mer Ab­b­Vie ex­ec Michael Sev­eri­no.

Lau­ren Sabel­la

Lau­ren Sabel­la is out as COO of Acor­da Ther­a­peu­tics, which sent pink slips to 15% of its staff near­ly a year ago and has felt the bud­get crunch be­fore. With the res­ig­na­tion, ef­fec­tive Sept. 30, SVPs Sofia Ali and Su­san Way will be split­ting COO du­ties. Sabel­la spent six years with Boehringer In­gel­heim and was Acor­da’s chief com­mer­cial of­fi­cer for 11 years be­fore she was named op­er­a­tions chief in Sep­tem­ber 2021, when the re­cent round of job cuts took hold at the In­bri­ja mak­er.

→ The res­ig­na­tions don’t stop there: Acerus Phar­ma­ceu­ti­cals CEO Robert Motz will ex­it stage left, but it won’t take ef­fect un­til Nov. 20, which buys some time for the Toron­to-based men’s health com­pa­ny to find a suc­ces­sor. Motz had han­dled fi­nances at Acerus since Oc­to­ber 2018.

Tra­cy Lawhon

Bio­th­eryx has en­list­ed Tra­cy Lawhon as chief de­vel­op­ment of­fi­cer, the lat­est C-suite move at the San Diego pro­tein degra­da­tion shop af­ter CFO Jeff Car­avel­la’s ap­point­ment in April. For the last year and change, Lawhon was VP of strate­gic de­vel­op­ment and clin­i­cal op­er­a­tions with Flag­ship’s Va­lo Health. She’s al­so held posts at Eli Lil­ly, No­var­tis and Scher­ing-Plough Re­search In­sti­tute.

Swetha­jit Biswas

→ Swiss I/O start­up CDR-Life, which hit pay­dirt with a $76 mil­lion Se­ries A from RA Cap­i­tal, Jeito Cap­i­tal and Omega Funds in April, has in­stalled Swetha­jit Biswas as CMO. At Adap­ti­m­mune, Biswas was the de­vel­op­ment leader for MAGE-A4, the type of T cell en­gager that CDR-Life is hop­ing to push in­to the clin­ic first with CDR404. He was al­so a clin­i­cal di­rec­tor in on­col­o­gy drug de­vel­op­ment dur­ing his five years with GSK.

Je­re­mi­ah Hanes

→ An­oth­er com­pa­ny that notched a Se­ries A round in April — Bay Area start­up Ansa Biotech­nolo­gieshas re­cruit­ed Je­re­mi­ah Hanes as SVP of R&D. Hanes spent the last 13 years at Pa­cif­ic Bio­sciences, start­ing as a se­nior sci­en­tist and work­ing his way up to VP of reagents R&D in 2020. North­pond Ven­tures led the group of in­vestors that con­tributed to the $68 mil­lion round for Ansa, built on CEO Daniel Lin-Ar­low’s as­ser­tion that it has the “best DNA syn­the­sis method in the world.”

Hen­ri­ette Wen­nicke

→ Nov. 1 will be Hen­ri­ette Wen­nicke’s first day as CFO of Zealand Phar­ma, the Dan­ish biotech that has suf­fered from lack­lus­ter sales with Ze­ga­logue and chopped 90% of its US staff while chang­ing CEOs. Wen­nicke spent a decade with No­vo Nordisk be­fore jump­ing to GN Group, where she’s now VP and head of in­vestor re­la­tions and trea­sury at hear­ing aid mak­er GN Store Nord. In May, Zealand whis­tled a dif­fer­ent tune with Ze­ga­logue af­ter hit­ting its pri­ma­ry end­point in a Phase III tri­al for chil­dren aged 7 days to 12 months with con­gen­i­tal hy­per­in­sulin­ism.

Wade Smith

→ To the beau­ti­ful state of Utah we go — Peer Re­view rec­om­mends a vis­it to any one of its na­tion­al parks — as Salt Lake City-based El­e­var Ther­a­peu­tics pro­motes Wade Smith to CFO. Smith had been head of US in­sti­tu­tion­al com­mer­cial/fi­nance at Vi­a­tris be­fore piv­ot­ing to El­e­var as VP of fi­nance in Jan­u­ary. El­e­var has con­tin­ued to as­sem­ble its C-suite with the ad­di­tions of chief com­mer­cial of­fi­cer Paul Friel, CMO Jan Van Tornout, and chief reg­u­la­to­ry of­fi­cer Gor­don Schoo­ley af­ter bring­ing in Al­ny­lam vet Sae­ho Chong as CEO in March.

Tom Van Blar­com

Tom Van Blar­com has stepped up to the plate as SVP, head of re­search at Kyver­na Ther­a­peu­tics, an au­toim­mune dis­ease biotech that gar­nered an $85 mil­lion Se­ries B round in Jan­u­ary for its syn­Reg ap­proach to CAR-T ther­a­pies. Van Blar­com, who suc­ceeds CSO and sci­en­tif­ic co-founder Jef­frey Greve, is a Pfiz­er alum who joined David Chang’s squad at Al­lo­gene as in­ter­im head of trans­la­tion­al sci­ences in 2020 and even­tu­al­ly be­came the CAR-T play­er’s ex­ec­u­tive di­rec­tor, head of pro­tein en­gi­neer­ing and re­search op­er­a­tions.

Daniel Sipes

→ San Diego-based biotech Plex­i­um — which struck a deal with Ab­b­Vie in April — has wel­comed Daniel Sipes to the team as SVP, head of tech­nol­o­gy. Pri­or to his new role, Sipes was SVP, strat­e­gy and op­er­a­tions, site head San Diego at Stra­teos. Be­fore that, Sipes had gigs at No­var­tis Re­search Foun­da­tion, Ka­lyp­sys and Lig­and Phar­ma­ceu­ti­cals.

→ Think­ing big pic­ture with its COPD drug en­sifen­trine af­ter pos­i­tive Phase III da­ta were the cat­a­lyst for a pub­lic of­fer­ingan ap­proach used by many a biotech these days — Verona Phar­ma has made two com­mer­cial hires with Matthew Cas­bon as VP of sales, mar­ket­ing and train­ing, and Matthew Rysavy as VP of mar­ket ac­cess and trade. Cas­bon and Rysavy were both at Sal­ix Phar­ma­ceu­ti­cals at the same time, with Cas­bon as as­so­ciate VP of mar­ket­ing and Rysavy climb­ing up to the role of se­nior na­tion­al ac­count man­ag­er Cas­bon was re­cent­ly CBO of Tar­get RWE, and Rysavy had been head of mar­ket ac­cess and trade since 2018 at BioDe­liv­ery Sci­ences In­ter­na­tion­al.

Mark Di­zon

Mark Di­zon has left BeiGene to take on the role of gen­er­al coun­sel at Ab­b­Vie part­ner Fron­tier Med­i­cines, a pro­tein degra­da­tion play­er which is tar­get­ing the KRAS-G12C mu­ta­tion. Di­zon was BeiGene’s as­sis­tant gen­er­al coun­sel and chief com­pli­ance of­fi­cer since 2018, and the No­var­tis vet has al­so been a com­pli­ance ex­ec with Affy­max, Acte­lion, Re­lyp­sa and Prothena.

→ Irvine, CA-based AI medtech GATC Health has named Robert Sor­renti­no as CMO. Be­fore found­ing his own con­sult­ing firm, Sor­renti­no filled an ar­ray of AI roles, in­clud­ing chief med­ical sci­en­tist at the IBM Wat­son Re­search Cen­ter.

Stef­fany Cox

Al­lu­cent is pick­ing up Stef­fany Cox as chief mar­ket­ing of­fi­cer. Be­fore mak­ing her way to Al­lu­cent, Cox served in roles at Lab­corp (SVP of prod­uct man­age­ment and seg­ment growth), Co­v­ance and Eli Lil­ly.

Bio­sion has named Steven Knapp as chief reg­u­la­to­ry & qual­i­ty of­fi­cer. Most re­cent­ly, Knapp was SVP of glob­al reg­u­la­to­ry and qual­i­ty at Antares Phar­ma­ceu­ti­cals. Be­fore that, Knapp served at Valeant Phar­ma­ceu­ti­cals.

Biorches­tra has signed on Gabriel Helm­linger as VP, head of trans­la­tion­al & clin­i­cal phar­ma­col­o­gy, tox­i­col­o­gy. Helm­linger has had stints at No­var­tis, As­traZeneca and Ob­sid­i­an Ther­a­peu­tics.

Brent Saun­ders

Brent Saun­ders is mak­ing an ap­pear­ance on the board of di­rec­tors of GLO Phar­ma. Since his de­par­ture from Al­ler­gan, Saun­ders chairs the board at OcuTer­ra and is ex­ec­u­tive chair­man of The Beau­ty Health Com­pa­ny, a merg­er be­tween The Hy­draFa­cial Com­pa­ny and Ves­per Health­care Ac­qui­si­tion Corp.

Boast­ing a Phase III win for patisir­an to treat AT­TR amy­loi­do­sis with car­diomy­opa­thy, Al­ny­lam has re­served space for ex-Bris­tol My­ers CSO and R&D chief El­liott Si­gal on the board of di­rec­tors. Si­gal co-chairs the SAB at Am­gen and has a pletho­ra of board seats at Adap­ti­m­mune, Vir Biotech­nol­o­gy, Sur­face On­col­o­gy, Tessera Ther­a­peu­tics and Affinia Ther­a­peu­tics.

Pe­ter Green­leaf

→ With its lead drug for mem­bra­nous nephropa­thy in ear­ly-stage tri­als af­ter a $70 mil­lion Se­ries A in April 2021, Valen­z­aBio has elect­ed Au­rinia CEO Pe­ter Green­leaf to the board of di­rec­tors. The ex-Cere­cor chief has al­so been a board mem­ber at Antares Phar­ma, which was sold to Halozyme this spring for $960 mil­lion.

Jane Bell

Jane Bell has joined the board of di­rec­tors of Mesoblast, the Aus­tralian stem cell ther­a­py biotech that has been reel­ing from bro­ken Big Phar­ma part­ner­ships and late-stage flops. The deputy chair of Monash Health, Bell is al­so a board mem­ber at Mel­bourne-based Am­plia Ther­a­peu­tics.

→ Now part­ner­ing with Pfiz­er on an old As­traZeneca drug named RIST4721 af­ter ini­tial­ly strik­ing the deal with Are­na last sum­mer, Aris­tea Ther­a­peu­tics has added Po­sei­da Ther­a­peu­tics CEO Mark Ger­gen and No­vo Ven­tures part­ner Daniel O’Con­nell to the board of di­rec­tors. Michael Vin­cent, SVP and CSO of Pfiz­er’s in­flam­ma­tion and im­munol­o­gy re­search unit, will be a board ob­serv­er.

Se­qua­na Med­ical has ap­point­ed Alexan­dra Clyde to its board of di­rec­tors, tak­ing over for Erik Am­ble, who is step­ping down. Clyde is SVP of glob­al health eco­nom­ics, pol­i­cy and re­im­burse­ment for Medtron­ic.

Pi­o­neer­ing Click Chem­istry in Hu­mans

Reimagining cancer treatments

Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, which is nearly one in six deaths. Recently, we have seen incredible advances in novel cancer therapies such as immune checkpoint inhibitors, cell therapies, and antibody-drug conjugates that have revamped cancer care and improved survival rates for patients.

Despite this significant progress in therapeutic targeting, why are we still seeing such a high mortality rate? The reason is that promising therapies are often limited by their therapeutic index, which is a measure of the effective dose of a drug, relative to its safety. If we could broaden the therapeutic indices of currently available medicines, it would revolutionize cancer treatments. We are still on the quest to find the ultimate cancer medicine – highly effective in several cancer types, safe, and precisely targeted to the tumor site.

Justin Klee (L) and Joshua Cohen, Amylyx co-CEOs (Cody O'Loughlin/The New York Times; courtesy Amylyx)

Ad­vo­cates, ex­perts cry foul over Amy­lyx's new ALS drug, cit­ing is­sues with price, PhI­II com­mit­ment

Not 24 hours after earning the first ALS drug approval in five years, Amylyx Pharmaceuticals’ Relyvrio is already drawing scrutiny. And it’s coming from multiple fronts.

In an investor call Friday morning, Amylyx revealed that it would charge about $158,000 per year, a price point that immediately drew backlash from ALS advocates and some outside observers. The cost reveal had been highly anticipated in the immediate hours after Thursday evening’s approval, though Amylyx only teased Relyvrio would cost less than previously approved drugs.

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Land­mark Amy­lyx OK spurs de­bate; Some... pos­i­tive? Alzheimer's da­ta; Can­cer tri­al bot­tle­neck; Sanofi's CRISPR bet; 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.

After brief stops in Paris and Boston, John Carroll and the Endpoints crew are staying on the road in October with their return for a live/streaming EUBIO22 in London. The hybrid event fireside chats and panels on mRNA, oncology and the crazy public market. We hope you can join him there.

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Joshua Cohen (L) and Justin Klee, Amylyx co-CEOs

Up­dat­ed: Af­ter long and wind­ing road, FDA ap­proves Amy­lyx's ALS drug in vic­to­ry for pa­tients and ad­vo­ca­cy groups

For just the third time in its 116-year history, the FDA has approved a new treatment for Lou Gehrig’s disease, or ALS.

US regulators gave the thumbs-up to the drug, known as Relyvrio, in a massive win for patients and their families. The approval, given to Boston-area biotech Amylyx Pharmaceuticals, comes after two years of long and contentious debates over the drug’s effectiveness between advocacy groups and FDA scientists, following the readout of a mid-stage clinical trial in September 2020.

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Up­dat­ed: Al­ny­lam re­in­forces APOL­LO-B patisir­an da­ta be­fore head­ing to the FDA

Weeks after uncorking some mostly positive data for patisiran in transthyretin-mediated (ATTR) amyloidosis with cardiomyopathy, Alnylam is bolstering its package with new exploratory and subgroup data before shipping it off to regulators.

The RNAi drug maintained “generally consistent” benefits in efficacy and quality of life across several prespecified subgroups at month 12, Alnylam announced on Friday afternoon, including age, baseline tafamidis use, ATTR amyloidosis type, baseline six-minute walk test score and others.

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Nooman Haque, head of life sciences and healthcare at Silicon Valley Bank, and John Carroll

I’m head­ed to Lon­don soon for #EU­BIO22. Care to join me?

It was great getting back to a live ESMO conference/webinar in Paris followed by a live pop-up event for the Endpoints 11 in Boston. We’re staying on the road in October with our return for a live/streaming EUBIO22 in London.

Silicon Valley Bank’s Nooman Haque and I are once again jumping back into the thick of it with a slate of virtual and live events on October 12. I’ll get the ball rolling with a virtual fireside chat with Novo Nordisk R&D chief Marcus Schindler, covering their pipeline plans and BD work.

#AAO22: J&J’s first look at com­mon eye dis­ease port­fo­lio pads the case for PhII of gene ther­a­py

CHICAGO — While the later-stage drug developers in the geographic atrophy field are near the finish line, Johnson & Johnson’s Janssen is taking a more deliberate route, with a treatment that it hopes to be a one-time fix.

The Big Pharma will take its Hemera Biosciences-acquired gene therapy into a Phase II study later this year in patients with GA, a common form of age-related macular degeneration that impacts about five million people worldwide. To get there, Janssen touted early-stage safety data at the American Academy of Ophthalmology annual conference Saturday morning, half a day after competitors Apellis and Iveric Bio revealed their own more-detailed Phase III analyses.

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Jerome Durso, Intercept Pharmaceuticals CEO

In­ter­cep­t's OCA fails a PhI­II NASH tri­al, rais­ing fresh doubts about its years­long quest for an OK

Intercept Pharmaceuticals has run into another big setback in its yearslong quest to win an approval for OCA in NASH. The biotech put out word Friday morning that its Phase III REVERSE study failed the primary endpoint for the liver disease, sending its share price into a tailspin.

There was no significant improvement in fibrosis among the patients suffering from cirrhosis who were treated with obeticholic acid, with investigators hunting for a minimum 1-stage histological improvement in the disease after 18 months of therapy.

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Bo Cumbo, new Solid Bio CEO

Sol­id Bio gets a new CEO, $75M cash and drops lead drug as big in­vestors ju­ry-rig a merg­er deal

Three months after Endpoints News broke the story that gene therapy outfit AavantiBio had gutted its CMC group in a reorganization, the biotech’s CEO has helped engineer a merger with struggling penny stock player Solid Bio. And he’s going to remain in charge of the combined operation, as Solid founder Ilan Ganot steps aside.

The merger news this morning features some high-profile investors.

Perceptive Advisors, RA Capital Management and Bain Capital Life Sciences are leading a $75 million raise to add to the pool of cash Solid will have after the tie-up. That will leave Solid $215 million in cash as Bain’s Adam Koppel jumps on the board — enough to pay for ops and get through some key data milestones on their way into 2025.

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