Wednesday, May 11, 2016
PureTech Health, a cross-disciplinary healthcare company tackling fundamental healthcare needs, has launched Alivio Therapeutics, which is developing a novel technology for the targeted treatment of inflammatory disorders.
PureTech Health has launched Vor BioPharma, an immuno-oncology company dedicated to developing a new class of targeted cell therapies. The company, which is advancing a novel approach to chimeric antigen receptor (CAR) T-cell therapy, has licensed its core technology from the lab of Vor scientific co-founder, Siddhartha Mukherjee, M.D., Ph.D., assistant professor of Medicine at Columbia University and Pulitzer Prize-winning author of The Emperor of All Maladies: A Biography of Cancer.
Orchard Therapeutics, a clinical-stage biotechnology company with operations in London and the U.S., has officially launched with a £21-million Series A financing led by F-Prime Capital. As part of its launch, the company has announced formal partnerships with University College London (UCL), Great Ormond Street Hospital for Children NHS Foundation Trust (GOSH), the University of Manchester, the University of California Los Angeles (UCLA) and Boston Children’s Hospital for the development of transformative gene therapies for serious and life-threatening orphan diseases.
Generic drug manufacturer IDT Australia has opened what is believed to be Australia’s largest clinical trials facility, CMAX Adelaide.
Biogen intends to spin off its hemophilia business as an independent, publicly traded company. The strategic goal of this transaction is to create two focused companies dedicated to driving current and future value in their respective therapeutic areas of expertise.
EMD Serono, the biopharmaceutical business of Merck, Darmstadt, Germany, in North America, has announced a $12 million investment for the expansion of its R&D facility in Billerica, Massachusetts. The new building will span more than 30,000 square feet and accommodate approximately 120 new and current employees whose focus will be on accelerating innovation in R&D, with a focus on oncology, immuno-oncology and immunology.
Abbott has signed a definitive agreement to acquire St. Jude Medical, creating a medical device provider with a higher position in high-growth cardiovascular markets, including atrial fibrillation, structural heart and heart failure, as well as a position in the high-growth neuromodulation market.
AbbVie has announced it will acquire Stemcentrx and its lead late-stage asset rovalpituzumab tesirine (Rova-T), currently in registrational trials for small cell lung cancer (SCLC). Rova-T is a novel biomarker-specific therapy that is derived from cancer stem cells and targets delta-like protein 3 (DLL3) that is expressed in more than 80% of SCLC patient tumors and is not present in healthy tissue. Registrational trials for third-line small cell lung cancer are expected to complete enrollment by the end of 2016.
The pharmaceutical industry in Italy is set to decline from $21.3 billion in 2016 to $18.6 billion by 2020, at a negative compound annual growth rate of 3.3%, primarily due to the country’s struggling economy, according to research and consulting firm GlobalData.