Upstart maps plans to build fibrosis pipeline; FDA extends review period for Lilly’s baricitinib
• A group of academic investigators in Toronto, working through MaRS Innovation, are spinning out new tech to launch a biotech startup dubbed Fibrocor in partnership with Germany’s Evotec. Launched with about $2.1 million in seed money, they’ll work on identifying a lead program for fibrosis in 2018.
• The FDA will take some added time to review Eli Lilly’s application for baricitinib. The pharma giant has filed some added data analysis on the rheumatoid arthritis drug that regulators will need time to review.
• Shire CEO Flemming Ornskov isn’t easily rattled, which he proved at Davos by shrugging off Donald Trump’s full throated attack on drug prices. ”I think we are in good position to prove the value of our products but, of course, there will be challenges,” Ornskov told Reuters.
• AnaptysBio has set terms for its upcoming IPO $ANAB. The biotech is looking to sell 4 million shares at $14 to $16 a share in what is shaping up as an early test of the IPO market for 2017. If successful, AnaptysBio will raise about $60 million.