Porges to Biogen: I don’t like your neuropathic pain drug; Ex-Moderna exec Bolen joins PureTech as CSO

Geoffrey Porges, Leerink

Geoffrey Porges, Leerink

Leerink’s Geoffrey Porges is pouring cold water over Biogen’s raxatrigine (BIIB074), a neuropathic pain drug it obtained in their $675 million deal to buy Convergence. Writes Porges: “We believe that Biogen’s neuropathic pain treatment candidate raxatrigine (BIIB074) faces long-odds due to the poor record of the class and troubling development history of this molecule; early signals are encouraging but at this stage we don’t see enough consistent evidence of benefit to add this to our model and value proposition for Biogen.”

Former Moderna R&D chief Joseph Bolen has joined Daphne Zohar’s PureTech as its CSO. Bolen, who also had a stint at Millennium, will now take his place at a company that’s routinely scouting for new biotech ideas to advance.

Shares of Puma Biotechnology $PBYI dipped after it announced plans to raise $150 million with a secondary offering. The biotech’s neratinib is currently under review at the FDA.

Sweden’s Neurovive has been struggling with Arbutus over the fate a hep B drug dubbed NVP018. But the confrontation is over now. Arbutus is returning its rights to the drug.

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