Por­to­la gets EU clear­ance to mar­ket An­dexxa un­der new name; Four biotechs set terms for Nas­daq de­but

Por­to­la $PT­LA has made in­roads for its an­ti­co­ag­u­lant an­ti­dote in Eu­rope, win­ning a con­di­tion­al OK to mar­ket an­dex­anet al­fa as On­dexxya. Sold in the US as An­dexxa, the drug is de­signed to re­verse the blood thin­ning ef­fects of Fac­tor Xa in­hibitors like apix­a­ban and ri­varox­a­ban in acute sit­u­a­tions. Por­to­la’s fourth quar­ter rev­enue for 2018 was $15.3 mil­lion, $14 mil­lion of which was net prod­uct rev­enue from An­dexxa sales.

→ French-based Cal­ixar an­nounced to­day that it has en­tered in­to an ex­clu­sive li­cens­ing agree­ment with Re­gen­eron $REGN. Un­der the agree­ment, Re­gen­eron has ex­clu­sive rights to ac­cess its tech­nol­o­gy and ex­per­tise to con­duct re­search and dis­cov­ery of an­ti­bod­ies against an undis­closed tar­get in var­i­ous ther­a­peu­tic fields. This agree­ment in­cludes up­front mile­stone pay­ments to Cal­ixar; how­ev­er, fi­nan­cial terms were not dis­closed.

Cor­texyme has set terms for its IPO, which is down­sized from its orig­i­nal plan of $86 mil­lion. The South San Fran­cis­co-based com­pa­ny is now plan­ning to raise $75 mil­lion by sell­ing 4.4 mil­lion shares be­tween $16 and $18, based on a pitch around its the­o­ry that a bac­te­r­i­al pathogen plays a ma­jor role in Alzheimer’s. At the mid­point range, mar­ket val­ue would hit $476 mil­lion. Re­nais­sance Cap­i­tal says that “in­sid­ers in­tend to pur­chase $35 mil­lion worth of shares in the of­fer­ing.” The com­pa­ny will list un­der the tick­er CRTX.

Mile­stone Phar­ma­ceu­ti­cals, a Mon­tre­al, Cana­da-based biotech de­vel­op­ing ther­a­pies for heart con­di­tions, laid plans to raise $75 mil­lion in an IPO. The com­pa­ny, which in­tends to list un­der the tick­er $MIST, is of­fer­ing 5 mil­lion shares priced be­tween $14 to $16. At the mid­point of that range, its mar­ket val­ue would hit $378 mil­lion. The an­nounce­ment comes less than a year af­ter the com­pa­ny raised $80 mil­lion in a round of fi­nanc­ing to de­vel­op its lead drug, etri­pamil, a cal­ci­um chan­nel block­er that Mile­stone has for­mu­lat­ed in­to a nasal spray to treat tachy­car­dia.

→ Weeks af­ter blue­print­ing the sci­en­tif­ic foun­da­tion for the im­muno-on­col­o­gy com­pa­ny in a pre­clin­i­cal study pub­lished in Na­ture Med­i­cine, Lil­ly-part­nered NextCure set terms to raise $75 mil­lion in an IPO on Mon­day. The Beltsville, Mary­land-based com­pa­ny, which has al­ready raised $180 mil­lion in ven­ture cap­i­tal to go af­ter PD-L1 neg­a­tive tu­mors where ex­ist­ing check­point in­hibitors are im­po­tent, counts Lieping Chen — a not­ed I/O re­searcher who was be­hind Am­plim­mune, which was swal­lowed by As­traZeneca $AZN — as its sci­en­tif­ic founder. NextCure plans to list un­der the sym­bol $NXTC and is of­fer­ing 5 mil­lion shares at a price range of $14 to $16 — at the mid­point of that range it will car­ry a mar­ket val­ue of $350 mil­lion.

→ New York, NY-based Ap­plied Ther­a­peu­tics, de­vel­op­ing ther­a­pies for di­a­bet­ic car­diomy­opa­thy, an­nounced terms for its IPO to raise $60 mil­lion by of­fer­ing 4 mil­lion shares at a price range of $14 to $16. At the mid­point range, mar­ket val­ue would hit $292 mil­lion. The com­pa­ny will list un­der the tick­er $APLT.

Da­ta Lit­er­a­cy: The Foun­da­tion for Mod­ern Tri­al Ex­e­cu­tion

In 2016, the International Council for Harmonisation (ICH) updated their “Guidelines for Good Clinical Practice.” One key shift was a mandate to implement a risk-based quality management system throughout all stages of a clinical trial, and to take a systematic, prioritized, risk-based approach to clinical trial monitoring—on-site monitoring, remote monitoring, or any combination thereof.

Pfiz­er's big block­buster Xel­janz flunks its post-mar­ket­ing safe­ty study, re­new­ing harsh ques­tions for JAK class

When the FDA approved Pfizer’s JAK inhibitor Xeljanz for rheumatoid arthritis in 2012, they slapped on a black box warning for a laundry list of adverse events and required the New York drugmaker to run a long-term safety study.

That study has since become a consistent headache for Pfizer and their blockbuster molecule. Last year, Pfizer dropped the entire high dose cohort after an independent monitoring board found more patients died in that group than in the low dose arm or a control arm of patients who received one of two TNF inhibitors, Enbrel or Humira.

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Covid-19 roundup: EU and As­traZeneca trade blows over slow­downs; Un­usu­al unions pop up to test an­ti­bod­ies, vac­cines

After coming under fire for manufacturing delays last week, AstraZeneca’s feud with the European Union has spilled into the open.

The bloc accused the pharma giant on Wednesday of pulling out of a meeting to discuss cuts to its vaccine supplies, the AP reported. AstraZeneca denied the reports, saying it still planned on attending the discussion.

Early Wednesday, an EU Commission spokeswoman said that “the representative of AstraZeneca had announced this morning, had informed us this morning that their participation is not confirmed, is not happening.” But an AstraZeneca spokesperson later called the reports “not accurate.”

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Adeno-associated virus-1 illustration; the use of AAVs resurrected the gene therapy field, but companies are now testing the limits of a 20-year-old technology (File photo, Shutterstock)

Af­ter 3 deaths rock the field, gene ther­a­py re­searchers con­tem­plate AAV's fu­ture

Nicole Paulk was scrolling through her phone in bed early one morning in June when an email from a colleague jolted her awake. It was an article: Two patients in an Audentes gene therapy trial had died, grinding the study to a halt.

Paulk, who runs a gene therapy lab at the University of California, San Francisco, had planned to spend the day listening to talks at the American Association for Cancer Research annual meeting, which was taking place that week. Instead, she skipped the conference, canceled every work call on her calendar and began phoning colleagues across academia and industry, trying to figure out what happened and why. All the while, a single name hung in the back of her head.

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Bomb squad called to As­traZeneca vac­cine plant; Lu­men nabs CARB-X award for low-cost an­tidiar­rheal

A plant located in Wrexham, Wales that is packing the Oxford/AstraZeneca Covid-19 vaccine into vials was surrounded by a bomb squad after officials called police to report a suspicious package.

The alert caused a partial evacuation of the plant, the BBC was among those to report Wednesday. The owner of the plant, British drugmaker Wockhardt UK, said it was cooperating with local authorities and that there were no reports of any injuries.

Pascal Soriot, AP

As­traZeneca CEO Pas­cal So­ri­ot sev­ers an un­usu­al board con­nec­tion, steer­ing clear of con­flicts while re­tain­ing im­por­tant al­liances

CSL Behring chief Paul Perreault scored an unusual coup last summer when he added AstraZeneca CEO Pascal Soriot to the board, via Zoom. It’s rare, to say the least, to see a Big Pharma CEO take any board post in an industry where interests can simultaneously connect and collide on multiple levels of operations.

The tie set the stage for an important manufacturing connection. The Australian pharma giant agreed to supply the country with 10s of millions of AstraZeneca’s Covid-19 vaccine, once it passes regulatory muster.

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Mer­ck scraps Covid-19 vac­cine pro­grams af­ter they fail to mea­sure up on ef­fi­ca­cy in an­oth­er ma­jor set­back in the glob­al fight

After turning up late to the vaccine development game in the global fight against Covid-19, Merck is now making a quick exit.

The pharma giant is reporting this morning that it’s decided to drop development of 2 vaccines — V590 and V591 — after taking a look at Phase I data that simply don’t measure up to either the natural immune response seen in people exposed to the virus or the vaccines already on or near the market.

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Anthony Fauci, NIAID director (AP Images)

As new Covid-19 task force gets un­der­way, threat looms of vac­cine, mon­o­clon­al an­ti­body-re­sis­tant vari­ants

Hours before President Biden’s Covid-19 team gave their first virtual press conference, the famed AIDS researcher David Ho delivered concerning news in a new pre-print: SARS-CoV-2 B.1.351, the variant that emerged in South Africa, is “markedly more resistant” to antibodies from convalescent plasma and vaccinated individuals.

The news for several monoclonal antibodies, including Eli Lilly’s bamlanivimab, was even worse: Their ability to neutralize was “completely or markedly abolished,” Ho wrote. Lilly’s antibody cocktail, which was just shown to dramatically reduce the risk of hospitalizations or death, also became far less potent.

Florian Brand (L) and Srinivas Rao (ATAI)

Psy­che­del­ic biotech ATAI hopes to ex­pand port­fo­lio through re­search part­ner­ship with Mass Gen­er­al

Psychedelics have made a comeback for mental health research, with companies like startup biotech ATAI Life Sciences raising millions and earning the backing of prominent investors like Peter Thiel, but there’s a hole at the heart of the resurgence: Researchers still don’t fully understand how they work.

A new partnership between ATAI and world-renowned Mass General Hospital hopes to change that.