No­var­tis re­search leader takes the helm at Forty Sev­en, a CIRM-backed fledg­ling al­ready deep in the clin­ic


Men­lo Park, CA-based Forty Sev­en launched well ahead of the game com­pared to most any oth­er biotech up­start. When the com­pa­ny was spun out of the lab of Stan­ford’s leg­endary Irv Weiss­man a year ago with a $75 mil­lion Se­ries A from a syn­di­cate in­clud­ing Google’s ven­ture arm, their an­ti-CD47 an­ti­body Hu5F9-G4 was al­ready in a pair of ear­ly-stage tri­als. And last week the com­pa­ny added an im­pres­sive CEO, grab­bing No­var­tis’ head of biosim­i­lar de­vel­op­ment at San­doz, Mark Mc­Camish, for the helm.

Mc­Camish will be lead­ing a team that in­cludes sci­en­tif­ic founders Ravi Ma­jeti, Mark Chao and Jens Volk­mer, who had been work­ing on CD47 at Stan­ford for the six years lead­ing up to the launch — a time that has drawn some scruti­ny for the close ties that ex­ist­ed be­tween Weiss­man and Alan Troun­son, the for­mer head of the Cal­i­for­nia In­sti­tute of Re­gen­er­a­tive Med­i­cine, which has pro­vid­ed more than $40 mil­lion in fund­ing for the ear­ly re­search work on the biotech’s CD47 pro­gram.

“Forty Sev­en has made un­prece­dent­ed progress to date based on the re­mark­able sci­ence ini­ti­at­ed by the world-class ef­forts of Dr. Irv Weiss­man and Dr. Ravi Ma­jeti and their com­bined team at Stan­ford Uni­ver­si­ty. In ad­di­tion, (Abing­worth vet) Jonathan Mac­Quit­ty has as­sem­bled an amaz­ing team at the com­pa­ny,” said Mc­Camish in a state­ment. “Forty Sev­en’s tech­nol­o­gy pro­vides a unique op­por­tu­ni­ty to har­ness the pow­er of the in­nate im­mune sys­tem to help pa­tients de­feat their own can­cer.”

And now Hu5F9-G4 is in 4 stud­ies in the US and the UK in pa­tients with sol­id tu­mors or cu­ta­neous T-cell lym­phoma, acute myeloid leukemia, non-Hodgkin’s lym­phoma and col­orec­tal car­ci­no­ma.

CD47 scram­bles a key im­mune re­sponse that helps guard a range of tu­mor types by pre­vent­ing a process called phago­cy­to­sis, in which the can­cer cells are de­voured by a phago­cyte. That’s what the re­searchers call a “don’t eat me” ef­fect. The treat­ment al­so promis­es to whip up a T-cell at­tack on can­cer, fit­ting in to a range of im­muno-on­col­o­gy pro­grams.

Forty Sev­en is where it is to­day be­cause of Weiss­man’s re­mark­ably close re­la­tion­ship with the Cal­i­for­nia In­sti­tute for Re­gen­er­a­tive Med­i­cine, a tax­pay­er sup­port­ed group that set out to fire up a rev­o­lu­tion in the use of stem cells to fight dis­ease.

Back in 2009, Weiss­man scored a $20 mil­lion grant for his work on CD47 with four years of fund­ing for his pre­clin­i­cal re­search on AML.  An­oth­er $12.7 mil­lion ar­rived in 2013, her­ald­ed by CIRM’s Troun­son — who took over the agency in 2007 — as “the sharp end of the CIRM pro­gram – we need to get ther­a­pies in­to clin­i­cal tri­als.”

A week af­ter Troun­son left the helm of CIRM in 2014, af­ter CIRM had pro­vid­ed more than $30 mil­lion in sup­port to Weiss­man’s CD47 work, he wound up side by side with Weiss­man on the board of Stem­Cells, which the Stan­ford pro­fes­sor had al­so found­ed, and which CIRM had pro­vid­ed mil­lions in grants.

In 2015, Troun­son would get $100,000 in com­pen­sa­tion from Stem­Cells, ac­cord­ing to an SEC fil­ing. The year be­fore, it was $343,000 — sev­er­al times more than any oth­er di­rec­tor — for on­ly part of the year. Stem­Cells foundered, like many oth­er stem cell ven­tures, and was lat­er tak­en over, wip­ing out any val­ue from CIRM’s in­vest­ment.

Those ties be­tween Weiss­man and Troun­son stirred up a small scan­dal at the time, al­most en­tire­ly be­cause of the Stem­Cells com­pen­sa­tion, with the on­line Cal­i­for­nia Stem Cell Re­port tak­ing the lead.

Not much at­ten­tion, though, has been paid to Troun­son’s sup­port for Weiss­man’s oth­er com­pa­ny in the mak­ing. CIRM, though, con­tin­ues to be a big sup­port­er well af­ter Troun­son’s de­par­ture. Even af­ter the big A round CIRM came in with an­oth­er grant. Af­ter com­ing up with a new strat­e­gy to back clin­i­cal tri­als, fol­low­ing years of crit­i­cism that noth­ing much was com­ing from bil­lions in new tax­pay­er backed in­vest­ments, CIRM came up with a new slate of in­vest­ments.

Forty Sev­en was first in line, get­ting a $10.2 mil­lion grant.

Mc­Camish, the lat­est in a long line of No­var­tis ex­ecs to leave the com­pa­ny, takes over one of the best fi­nanced biotechs in the Bay Area.

Paul Hudson, Sanofi CEO (Getty Images)

Sanofi CEO Paul Hud­son has $23B burn­ing a hole in his pock­et. And here are some hints on how he plans to spend that

Sanofi has reaped $11.1 billion after selling off a big chunk of its Regeneron stock at $515 a share. And now everyone on the M&A side of the business is focused on how CEO Paul Hudson plans to spend it.

After getting stung in France for some awkward politicking — suggesting the US was in the front of the line for Sanofi’s vaccines given American financial support for their work, versus little help from European powers — Hudson now has the much more popular task of managing a major cash cache to pull off something in the order of a big bolt-on. Or two.

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Pablo Legorreta, founder and CEO of Royalty Pharma AG, speaks at the annual Milken Institute Global Conference in Beverly Hills, California (Patrick T. Fallon/Bloomberg via Getty Images)

Cap­i­tal­iz­ing Pablo: The world’s biggest drug roy­al­ty buy­er is go­ing pub­lic. And the low-key CEO di­vulges a few se­crets along the way

Pablo Legorreta is one of the most influential players in biopharma you likely never heard of.

Over the last 24 years, Legorreta’s Royalty Pharma group has become, by its own reckoning, the biggest buyer of drug royalties in the world. The CEO and founder has bought up a stake in a lengthy list of the world’s biggest drug franchises, spending $18 billion in the process — $2.2 billion last year alone. And he’s become one of the best-paid execs in the industry, reaping $28 million from the cash flow last year while reserving 20% of the cash flow, less expenses, for himself.

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The Avance Clinical leadership team: CEO Yvonne Lungershausen, Sandrien Louwaars - Director Business Development Operations, Gabriel Kremmidiotis - Chief Scientific Officer, Ben Edwards - Chief Strategy Officer

How Aus­tralia De­liv­ers Rapid Start-up and 43.5% Re­bate for Ear­ly Phase On­col­o­gy Tri­als

About Avance Clinical

Avance Clinical is an Australian owned Contract Research Organisation that has been providing high-quality clinical research services to the local and international drug development industry for 20 years. They specialise in working with biotech companies to execute Phase 1 and Phase 2 clinical trials to deliver high-quality outcomes fit for global regulatory standards.

As oncology sponsors look internationally to speed-up trials after unprecedented COVID-19 suspensions and delays, Australia, which has led the world in minimizing the pandemic’s impact, stands out as an attractive destination for early phase trials. This in combination with the streamlined regulatory system and the financial benefits including a very favourable exchange rate and the R & D cash rebate makes Australia the perfect location for accelerating biotech clinical programs.

As­traZeneca trum­pets the good da­ta they found for Tagris­so in an ad­ju­vant set­ting for NSCLC — but many of the ex­perts aren’t cheer­ing along

AstraZeneca is rolling out the big guns this evening to provide a salute to their ADAURA data on Tagrisso at ASCO.

Cancer R&D chief José Baselga calls the disease-free survival data for their drug in an adjuvant setting of early stage, epidermal growth factor receptor-mutated NSCLC patients following surgery “momentous.” Roy Herbst, the principal investigator out of Yale, calls it “transformative.”

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Dan O'Day, Gilead CEO (Andrew Harnik, AP Images)

UP­DAT­ED: Gilead leas­es part­ner rights to TIG­IT, PD-1 in a $2B deal with Ar­cus. Now comes the hard part

Gilead CEO Dan O’Day has brokered his way to a PD-1 and lined up a front row seat in the TIGIT arena, inking a deal worth close to $2 billion to align the big biotech closely with Terry Rosen’s Arcus. And $375 million of that comes upfront, with cash for the buy-in plus equity, along with $400 million for R&D and $1.22 billion in reserve to cover opt-in payments and milestones..

Hotly rumored for weeks, the 2 players have formalized a 10-year alliance that starts with rights to the PD-1, zimberelimab. O’Day also has first dibs on TIGIT and 2 other leading programs, agreeing to an opt-in fee ranging from $200 million to $275 million on each. There’s $500 million in potential TIGIT milestones on US regulatory events — likely capped by an approval — if Gilead partners on it and the stars align on the data. And there’s another $150 million opt-in payments for the rest of the Arcus pipeline.

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Stymied by the pan­dem­ic, Im­munomedic­s' new CEO bows out, tak­ing a mil­lion bucks plus perks as he heads out the vir­tu­al ex­it

Just a little more than a month since taking over as the latest CEO to helm Immunomedics, $IMMU Harout Semerjian is exiting the company after being confronted by “logistical” obstacles thrown up by the pandemic that made it impossible for him to move from London to carry out the job. And he’s getting a little over a million dollars in cash plus perks to grease the skids on the way out.

Word of the changeup arrived right after the market closed Wednesday.

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No­var­tis jumps in­to Covid-19 vac­cine hunt, as Big Phar­ma and big biotech com­mit to bil­lions of dos­es

After spending most of the pandemic on the sidelines, Novartis is offering its aid in the race to develop a Covid-19 vaccine.

AveXis, the Swiss pharma’s gene therapy subsidiary, has agreed to manufacture the vaccine being developed by Massachusetts Eye and Ear and Massachusetts General Hospital. The biotech will begin manufacturing this month, while the vaccine undergoes further preclinical testing. They’ve agreed to provide the vaccine for free for clinical trials beginning in the second half of 2020, but have not disclosed financials for after.

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Bryan Roberts, Venrock

Ven­rock sur­vey shows grow­ing recog­ni­tion of coro­n­avirus toll, wan­ing con­fi­dence in ar­rival of vac­cines and treat­ments

When Venrock partner Bryan Roberts went to check the results from their annual survey of healthcare leaders, what he found was an imprint of the pandemic’s slow arrival in America.

The venture firm had sent their form out to hundreds of insurance and health tech executives, investors, officials and academics on February 24 and gave them two weeks to fill it out. No Americans had died at that point but the coronavirus had become enough of a global crisis that they included two questions about the virus, including “Total U.S. deaths in 2020 from the novel coronavirus will be:”.

Fabrice Chouraqui, Cellarity CEO-partner (LinkedIn)

Drug de­vel­op­er, Big Phar­ma com­mer­cial ex­ec, now an up­start biotech chief — Fab­rice Chouraqui is ready to try some­thing new as a ‘CEO-part­ner’ at Flag­ship

Fabrice Chouraqui’s career has taken some big twists along his life journey. He got his PharmD at Université Paris Descartes and jumped into the drug development game for a bit. Then he took a sharp turn and went back to school to get his MBA at Insead before returning to pharma on the commercial side.

Twenty years later, after steadily rising through the ranks and journeying the globe to nab a top job as president of US pharma for the Basel-based Novartis, Chouraqui exited in another career switch. And now he’s headed into a hybrid position as a CEO-partner at Flagship, where he’ll take a shot at leading Cellarity — one of the VC’s latest paradigm-changing companies of the groundbreaking model that aspires to deliver a new platform to the world of drug R&D.