Vas Narasimhan tapped to take No­var­tis' helm as Joe Jimenez heads to Sil­i­con Val­ley

Vas­ant Narasimhan, No­var­tis

⇨ No­var­tis an­nounced Mon­day that Joe Jimenez is step­ping down in Feb­ru­ary and hand­ing the reins over to 41-year-old Vas Narasimhan, an ex­u­ber­ant ad­vo­cate of cut­ting-edge sci­ence who’s been mak­ing his mark with a slate of suc­cess­ful pro­grams for the com­pa­ny’s next wave of block­buster drugs. Narasimhan is now join­ing one of the most ex­clu­sive clubs in bio­phar­ma — CEO of a bio­phar­ma or­ga­ni­za­tion with ac­tiv­i­ties that span the globe. In nam­ing him CEO, the Basel-based com­pa­ny is keep­ing an Amer­i­can at the top. But in­stead of the mar­ket­ing or le­gal back­ground of most of his peers, Narasimhan brings ex­pe­ri­ence in new prod­uct de­vel­op­ment. Jimenez, mean­while, has his eye on a place in Sil­i­con Val­ley.

⇨ Clau­dio Al­brecht was se­lect­ed as the in­ter­im CEO to run Sta­da as it tran­si­tions to a pri­vate com­pa­ny and then lo­cates a per­ma­nent re­place­ment. Al­brecht ad­vised Bain and Cin­ven as they were bid­ding for the com­pa­ny.

⇨ Mor­gan Mol­loy is join­ing En­zy­vant to serve as chief com­mer­cial of­fi­cer. He held that same po­si­tion pre­vi­ous­ly at Spark Ther­a­peu­tics, and al­so spent some time at Sanofi, Al­ler­gan and Bio­gen.

⇨ Tom Graney is jump­ing ship at Iron­wood and mov­ing over to Ver­tex as its new CFO.

⇨ Ovid Ther­a­peu­tics has ap­point­ed Ana C. Ward as SVP and gen­er­al coun­sel.

⇨ Io­n­is spin­out Akcea has been build­ing up its ex­ec­u­tive team in prepa­ra­tion for its first com­mer­cial launch. The new team mem­bers in­clude: Michael MacLean, chief fi­nan­cial of­fi­cer; Mustafa Noor, chief de­vel­op­ment of­fi­cer; Samuel Yon­ren, vice pres­i­dent and head of phar­ma­covig­i­lance and drug safe­ty; and Kyle Jenne, US com­mer­cial head.

⇨ AM­AG Phar­ma­ceu­ti­cals named Lau­ra Williams as se­nior vice pres­i­dent of clin­i­cal de­vel­op­ment.

⇨ Opi­ant Phar­ma­ceu­ti­cals tapped David O’Toole as its new chief fi­nan­cial of­fi­cer. O’Toole just left his post as CFO at Soleno Ther­a­peu­tics. The biotech says that he will be re­placed by Jonathan R. Wolter on an in­ter­im ba­sis as they hunt for a per­ma­nent re­place­ment.

 

BiTE® Plat­form and the Evo­lu­tion To­ward Off-The-Shelf Im­muno-On­col­o­gy Ap­proach­es

Despite rapid advances in the field of immuno-oncology that have transformed the cancer treatment landscape, many cancer patients are still left behind.1,2 Not every person has access to innovative therapies designed specifically to treat his or her disease. Many currently available immuno-oncology-based approaches and chemotherapies have brought long-term benefits to some patients — but many patients still need other therapeutic options.3

Pfiz­er’s Doug Gior­dano has $500M — and some ad­vice — to of­fer a cer­tain breed of 'break­through' biotech

So let’s say you’re running a cutting-edge, clinical-stage biotech, probably public, but not necessarily so, which could see some big advantages teaming up with some marquee researchers, picking up say $50 million to $75 million dollars in a non-threatening minority equity investment that could take you to the next level.

Doug Giordano might have some thoughts on how that could work out.

The SVP of business development at the pharma giant has helped forge a new fund called the Pfizer Breakthrough Growth Initiative. And he has $500 million of Pfizer’s money to put behind 7 to 10 — or so — biotech stocks that fit that general description.

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Gilead re­leas­es an­oth­er round of murky remde­sivir re­sults

A month after the NIH declared the first trial on remdesivir in Covid-19 a success, Gilead is out with new results on their antiviral. But although the study met one of its primary endpoints, the data are likely to only add to a growing debate over how effective the drug actually is.

In a Phase III trial, patients given a 5-day dose of remdesivir were 65% more likely to show “clinical improvement” compared to an arm given standard-of-care. The trial, though, gave little indication for whether the drug had an impact on key endpoints such as survival or time-to-recovery. And in a surprising twist, a 10-day dosing arm of remdesivir didn’t lead to a statistically significant improvement over standard of care.

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Why Mer­ck wait­ed, and what they now bring to the Covid-19 fight

Nicholas Kartsonis had been running clinical infectious disease research at Merck for almost 2 years when, in mid-January, he got a new assignment: searching the pharma giant’s vast libraries for something that could treat the novel coronavirus.

The outbreak was barely two weeks old when Kartsonis and a few dozen others got to work, first in small teams and then in a larger task force that sucked in more and more parts of the sprawling company as Covid-19 infected more and more of the globe. By late February, the group began formally searching for vaccine and antiviral candidates to license. Still, while other companies jumped out to announce their programs and, eventually and sometimes controversially, early glimpses at human data, Merck remained silent. They made only a brief announcement about a data collection partnership in April and mentioned vaguely a vaccine and antiviral search in their April 28 earnings call.

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Mark Genovese (Stanford via Twitter)

Gilead woos fil­go­tinib clin­i­cal in­ves­ti­ga­tor from Stan­ford to lead the charge on NASH, in­flam­ma­to­ry dis­eases

With an FDA OK for the use of filgotinib in rheumatoid arthritis expected to drop any day now, Gilead has recruited a new leader from academia to lead its foray into inflammatory diseases.

Mark Genovese — a longtime Stanford professor and most recently the clinical chief in the division of immunology and rheumatology — was the principal investigator in FINCH 2, one of three studies that supported Gilead’s NDA filing. In his new role as SVP, inflammation, he will oversee the clinical development of the entire portfolio.

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Stephen Isaacs, Aduro president and CEO (Aduro)

Once a high fly­er, a stag­ger­ing Aduro is auc­tion­ing off most of the pipeline as CEO Stephen Isaacs hands off the shell to new own­ers

After a drumbeat of failure, setbacks and reorganizations over the last few years, Aduro CEO Stephen Isaacs is handing over his largely gutted-out shell of a public company to another biotech company and putting up some questionable assets in a going-out-of-business sale.

Isaacs —who forged a string of high-profile Big Pharma deals along the way — has wrapped a 13-year run at the biotech with one program for kidney disease going to the new owners at Chinook Therapeutics. A host of once-heralded assets like their STING agonist program partnered with Novartis (which dumped their work on ADU-S100 after looking over weak clinical results), the Lilly-allied cGAS-STING inhibitor program and the anti-CD27 program out-licensed to Merck will all be posted for auction under a strategic review process.

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Hill­house re­casts spot­light on Chi­na's biotech scene with $160M round for Shang­hai-based an­ti­body mak­er

Almost two years after first buying into Genor Biopharma’s pipeline of cancer and autoimmune therapies, Hillhouse Capital has led a $160 million cash injection to push the late-stage assets over the finish line while continuing to fund both internal R&D and dealmaking.

The Series B has landed right around the time Genor would have listed on the Hong Kong stock exchange, according to plans reported by Bloomberg late last year. Insiders had said that the company was looking to raise about $200 million.

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Fangliang Zhang (Imaginechina via AP Images)

The big mon­ey: Poised to make drug R&D his­to­ry, a Chi­na biotech un­veils uni­corn rac­ing am­bi­tions in a bid to raise $350M-plus on Nas­daq

Almost exactly three years after Shanghai-based Legend came out of nowhere to steal the show at ASCO with jaw-dropping data on their BCMA-targeted CAR-T for multiple myeloma, the little player with Big Pharma connections is taking a giant step toward making it big on Wall Street. And this time they want to seal the deal on a global rep after staking out a unicorn valuation in what’s turned out to be a bull market for biotech IPOs — in the middle of a pandemic.

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No­var­tis chips in $10M for IPO-bound part­ner Pli­ant; Tenax shares soar on heart drug da­ta

Novartis is coming in with $10 million to help support the looming IPO of a partner. Pliant Therapeutics posted a new filing with the SEC showing that Novartis is buying the shares at $15, the mid-point of the range. It’s adding several million shares to the offering, bringing the total to around $135 million. Biotech companies have been enjoying quite a run on virtual Wall Street, with investors boosting new offerings to some big hauls.