Protocols

Vas Narasimhan joins the power circle at Davos; Armo Bio, resTORbio raises $128M and $85M in IPO

→ With just a few more days before he officially becomes Novartis’ new CEO, Vas Narasimhan is joining the world’s power circle. Case in point: Narasimhan joined a group of big-time European CEOs who sat down with President Donald Trump for dinner at Davos.

→ Two IPOs pitched at a year-end blitz have materialized. Focusing on elderly respiratory tract infections, resTORbio has raised $85 million by offering 5.7 million shares at $15. The Cambridge, MA biotech plans to list as $TORC, a tribute to the mTORC1 inhibitors its founders believe have potential to treat a variety of aging-related ailments. Then there’s I/O player Armo Biosciences, which went above its original $86 million for 6.7 million shares plan and bagged $128 million instead with an offering of 7.5 million shares at $17. It will go on Nasdaq as $ARMO.

→ Following ertugliflozin’s approval in the US, an EMA panel recommendation today sets Merck $MRK and Pfizer $PFE on the path for a European green light. The diabetes drug, marketed as Steglatro, will have some tough competition in the SGLT2 inhibitor class with products from Eli Lilly, J&J and AstraZeneca. With Sanofi/Lexicon ready to join the party, all eyes are on the upcoming cardio data, which will likely determine the winners.


The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 29,000+ biopharma pros who read Endpoints News by email every day.

Free Subscription

Biotech Primer Toronto 2018

Head of DMPK, Director
Magenta Therapeutics Cambridge, MA
Research Scientist - Disease Biology & Cellular Pharmacology
Recursion Pharmaceuticals Salt Lake City
Sr/Medical Director, Medical Affairs
A Rare Disease Biotech New Brunswick, NJ
VP, Pharmacovigilance
Aeglea BioTherapeutics Austin, TX
Process Scientist/Lead
Tmunity Therapeutics Philadelphia, PA

Visit Endpoints Careers ->