Rubius marks milestone in PhI/II as CFO departs; Owkin closes $70M Series A; The Carlyle Group bets on Indian CDMO
→ Some of the folks at Rubius Therapeutics weren’t too keen about our lede on the Takeda gene therapy story, which referenced their R&D mishaps. So they flagged another release out this morning, which highlights that the biotech has “completed dosing of the first dose-escalation cohort with no observed adverse events to date in the Phase 1/2 clinical trial of RTX-240.” On another note, their CFO, Andrew Oh, is headed out the exit in a few months. They now have a search underway for his successor as Oh stays on for a transition period.
→ After picking up multiple believers in its AI-aided drug development platform, French-American startup Owkin has formally closed its Series A at $70 million. The final commitment comes from new investor Mubadala Capital alongside Bpifrance. With a mission to “federate” the research ecosystem, the company runs a virtual lab that it calls the Owkin studio, where clinicians, pharma companies and academics can access anonymized data sets and models.
→ The Carlyle Group is coming in to buy up a 20% stake in India’s Piramal Pharma for around $490 million. The company includes a CDMO and generics business. Neeraj Bharadwaj, the managing director of the Carlyle Asia Partners advisory team, said: “Piramal Pharma has built a strong, diversified pharma business with a solid market position and scale in each of its core business segments of Pharma Solutions, Critical Care and Consumer Products. Given global pharma industry trends, we see attractive opportunities for organic as well as inorganic growth in each of these businesses.”
→ Michigan’s Grand River Aseptic Manufacturing has wrapped up a $60 million expansion project, adding a third fill/finish facility near downtown Grand Rapids.