“Maybe this is not their final offer and maybe they’re not digging as deep as they perhaps could or should,” Michael Abrams, managing partner and co-founder of Numerof & Associates, said of the biopharma industry’s counteroffer to U.S. President Donald Trump on drug pricing. But the offer “is not inconsequential,” he told BioWorld, noting that it reportedly could deliver $100 billion in savings over 10 years. The proposal also offers the president the opportunity to say he delivered on his promise to lower prescription drug prices as he campaigns for re-election, whereas his threatened executive order granting Medicare and other federal programs “most favorable nation pricing” for prescription drugs would still be in the rulemaking process when voters head to the polls or their mailboxes in November. Read More
With the FDA approval of Cassiopea SpA’s Winlevi (clascoterone cream 1%) to treat acne in patients 12 years and older, the European company hailed it as the first acne drug in 40 years with a new mechanism of action. Read More
Vancouver, British Columbia-based Sierra Oncology Inc. during its recent earnings call offered an update on momelotinib, in phase III development for myelofibrosis. Enrollment in the study won’t be finished until the fourth quarter of 2021. Read More
Triumvira Immunologics Inc., a U.S.-Canadian immuno-oncology startup, has raised $55 million in series A financing to back a pipeline of four new T-cell therapy candidates for the potential treatment of both liquid and solid tumors. Bayer AG's Leaps unit and Northpond Ventures led the round. China-based Oceanpine Capital and Viva Biotech Holdings also provided funds. Read More
Bright days are ahead for China’s biopharmaceutical sector, which is getting a reset from the efforts to tackle COVID-19 through innovation and advancements. “I'm consciously optimistic about the fact that cross-border deals will continue,” Stella Xu, managing director, Quan Capital, from Shanghai, China said during a panel discussion at the Chinabio Partnering Forum. Read More
New hires and promotions in the biopharma industry, including: 4D Molecular, Abcentra, Adamas, Aravive, Axol, CNS, Gemini, Kymera, Oncocyte, Vaccinex, Vaxart. Read More
Biopharmas raising money in public or private financings, including: Clene, Cocrystal, Cyclo, Fortress, J-Pharma, Odonate, Phosplatin, Sun, Tracon. Read More
Clinical updates, including trial initiations, enrollment status and data readouts and publications: Alligator, Applied Molecular Transport, Axcella, Cognition, Cymabay, Durect, Intercept, Mycovia, Oncosec, Onxeo, Redhill, Urogen. Read More
Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Biomark, Cassiopea, Galecto, Glaxosmithkline, Laurent, Rocket, Sirtex, Taysha Gene Therapies. Read More
