Protocols: BeiGene signs up Medivation’s Amy Peterson as its new CMO; Acne drug developer files for $60M IPO
Now that Pfizer has bagged Medivation in its $14 billion buyout deal, the scramble for top talent has begun. China’s BeiGene was one of the first to move, signing Amy C. Peterson as its new chief medical officer. Peterson had been the VP of clinical development at Medivation, and she’ll put the skills she learned advancing Medivation’s late-stage PARP inhibitor talazoparib to use for BeiGene, which has its own PARP in the clinic now. Peterson will also work with BeiGene’s new PD-1 program. “BeiGene continues to expand its senior medical leadership in response to emerging global development opportunities, particularly in immuno-oncology,” noted BeiGene CEO John Oyler. BeiGene also has a facility in Waltham, MA.
Durham, NC-based Novan has filed for a $60 million IPO. Backed by Malin, a venture group run by ex-Elan chief Kelly Martin, the biotech has been building out a dermatology pipeline with a nitric oxide platform. The lead drug is SB204, designed to treat acne. Data from two pivotal studies are due out early next year. Martin has a 16% stake in the company, making it Novan’s largest shareholder.
Teva’s shares were hit hard after the U.S. Patent Trial and Appeals Board invalidated two of its patents for the aging MS drug copaxone, which brings in 20% of its revenue. About $4 billion in annual sales is on the line, and not surprisingly, Teva plans to fight this every step of the way.