In just 6 months, we’ll know if fedratinib has completed one of the most dramatic turnarounds in biopharma R&D history and will soon get ushered into the big market for myelofibrosis.
Left for dead at Sanofi in a setback that helped torpedo its oncology effort — and ultimately CEO Chris Viehbacher’s big pharma career — 5 years ago, co-inventor John Hood left Samumed with a rough plan to revive its fortunes. Backed by Medicxi’s Kevin Johnson, he was able to gain rights to the drug, largely paid for with equity, and then months later handed it over to Celgene for $1.1 billion in cash and about $6 billion in milestones — including $1.4 billion for regulatory approvals. The rest is for commercial goals.
In order to read this article, you must be an Endpoints News subscriber. (It's free to subscribe.)
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 47,300+ biopharma pros who read Endpoints News by email every day.Free Subscription