Ricky Sun

Had to miss today's #BiotechHangout but will be listening on X to make sure that I don't miss the thoughtful discussion and insights shared earlier. I invite you to do the same ICYMI.

8

NEW: In the latest in a series on executive and employee pay, Kyle LaHucik and I analyzed so-called golden parachutes. These are special incentives given to executives who sell their companies. The largest parachutes exceeded the biggest CEO pay packages of 2023. Our analysis found 10 biotech execs who made over $40 million each from these arrangements — predominantly by accelerated vesting on restricted shares and stock options. Prometheus CEO Mark McKenna ranked No. 1, with a golden parachute package of just over $220 million — the largest across the entire business world for 2023 deals. Check out our latest for Endpoints News on exit pay packages in biopharma:

22

1 Comment

In 2023, a record number of cell and gene therapy (CGT) products received regulatory approval in the US, and a still greater number of approvals is anticipated in 2024. Andrew Frazer and James Cody discuss the evolving C&GT landscape in European Pharmaceutical Review. https://bit.ly/4ekUUc1

54

Epoch 16: Sweat Equity - Your Weekly Biotech News Fix Designed to be consumed as a quick scroll with underlying links for more detail 👉 How to deal with biopharma layoff stress 👉 Series A biotech funding surges in Q1 👉 RNAi is coming $ARWR 👉 #AACR24 most exciting oncology biotechs 👉 $DTIL $LLY terminamos 👉 GLP-1 for sleep apnea $LLY 👉 Degrader momentum $ARVN $PFE $NVM 👉 New VC funds! Caanan & $REGEN 👉 Update on neuroscience / neuropsych 👉 Massive Obesity newco announced And more! https://lnkd.in/dEkBy2bY

1

The burgeoning RNA partnering landscape... My colleague Eliza French put this snapshot together of the RNA partnering landscape from our ThereTrack database. Its a neat visual of the partnering dynamics across RNA and oligo therapeutics. This is a space that's heating up. Overlooked through the pandemic in favor of mRNA, the industry is re-appreciating this modality and the fact that it makes money when launched (with more "traditional" COGS and launch logistics than other advanced or next-gen. therapies across the cell and gene therapy landscape). We've seen recent catalysts from the likes of Arrowhead Pharmaceuticals, WaVe Life Sciences, and QurAlis. We also saw new partnerships between Ascidian and Roche. Expect cash-rich Pharma to continue deal-making to fill pipelines and impending loss of exclusivity! What's your take on oligos? Think it will stay hot? reach out and lets discuss! #RNA #pharma #drugdiscovery

109

We started out Q1 with cautious optimism and the numbers continue to show the confidence was warranted. Biopharma M&A activity more than doubled nationally during the year’s first three months, coinciding with a rebound in venture capital deals as well as a flurry of IPOs. These are all good signs that the drug development cycle is normalizing and should translate into additional funding being available at the seed and Series A stages. Certain to be on the minds of funders and startups attending #AlignSummit24 on Thursday! https://lnkd.in/erEiJm6S  

112

5 Comments

Our CEO Michael Nally spoke at MassBio's State of Possible Conference with Barry Greene of Sage Therapeutics, Sharon Cunningham of Shorla Oncology, and Daphne Zohar of Seaport Therapeutics, moderated by Douglas Banks of Boston Business Journal. The panel explored Massachusetts' success in the life science industry—a story of innovation and resilience. These leaders discussed how they have survived and thrived through significant challenges. In a blog entry for MassBio, Mike notes: "By spearheading the transition from trial-and-error to programable, precision-based drug development, Massachusetts is reshaping the future of healthcare to better serve patients, the ecosystem, and the economy." Learn more about the panel, including a replay: https://lnkd.in/eHanbnQF #GenerativeAI I #ProteinEngineering 

46

1 Comment

My fellow panelists at the Milken Institute Global Conference made excellent points, especially these:  we are in the early era of the "exponential curve" that will accelerate drug discovery with the help of AI, and it is going to take whole new models and innovative approaches to take maximum advantage of the potential. Great write up:

183

1 Comment

Bluejay Therapeutics Therapeutics Secures $182 Million in Series C Financing to Propel Clinical Pipeline SAN MATEO, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Bluejay Therapeutics, a leader in the development of novel therapeutics, today announced the successful closure of a $182 million Series C financing round. This capital infusion will accelerate the clinical development of BJT-778, as the treatment for chronic hepatitis D (HDV). The funds will also support the progression of additional promising candidates in Bluejay's robust pipeline for the treatment for chronic hepatitis B. As previously announced, BJT-778 has received PRIME designation from EMA based on early results from the Phase 1/2 study in HDV. This financing round was co-led by Frazier Life Sciences and a life science focused institutional investment firm, with significant contributions from both new and existing investors, including RA Capital Management, T. Rowe Price, Wellington Management, Novo Holdings, RiverVest Venture Partners, Octagon Capital, Arkin Bio Ventures, HBM Healthcare Investments and Unicorn Capital. Following the completion of the Series C financing, Bluejay is excited to welcome New Board Member, Daniel Estes, a General Partner at Frazier, to its Board of Directors. https://lnkd.in/gG5hpxSx

57

🔊 Canaan Partners, a venture capital firm, recently secured over $100 million, adding to the $850 million fund announced last year. 🔊 This boost in capital, according to General Partner Julie Grant, is earmarked for biotech investments, supplementing the firm's existing strategy of investing in early-stage companies in the biopharma sector. With this injection, Canaan's total raised funds since early 2023 now exceed $1 billion, with a significant portion allocated to healthcare ventures. In addition to financial growth, Canaan has expanded its team with the addition of Uwe Schoenbeck, Ph.D., a former senior executive at Pfizer. Schoenbeck's expertise in bridging early science and biotech startups aligns well with Canaan's investment focus. While Canaan has yet to explore the metabolic disease arena, Schoenbeck anticipates targeted investments in the broader cardiometabolic space in the future. Canaan's recent investments include contributions to biotech raises for Nocion Therapeutics, Inc. and Alterome Therapeutics, Inc, showcasing its commitment to advancing innovative healthcare solutions. Full article: https://lnkd.in/ecpRi8fy

23

So what's the common thread between successful biotech CEOs ? In preparing for this panel I thought doing 1-1 calls ahead of time would be a cool way to get to know a set of accomplished CEOs from the New England biotech community. The odds of getting everyone on one Teams call seemed pretty low right ? Well, let me say these calls have been an absolute highlight of the past month for me. The most important takeaway observation (if you can't make it to COG New England next week): The passion these CEOs have for the underlying patient challenges is what gets them moving each day. The fundraising and clinical data journey isn't easy. These CEOs press forward through that difficult journey because they understand they have an opportunity to help bring cures and treatments to the people that need them.

41

3 Comments

Don't miss it. 📆 Matthew Pillar's talking to two career pros in #SingleUse systems, Mark Petrich and Paul Priebe, during a Bioprocess Online Live event on April 24. Here's a peek at their agenda for the day. 🍃 Sustainability — despite the extra plastic waste, evidence shows #SUT is more sustainable. 💸 Costs — over time, SUT can cost 25% less than stainless. ⚖ Standards — SUT are pretty well established, but still evolving. ⛓ Supply chain — interoperability remains a big watch-out as more SUT manufacturers enter the field.

12

Akash from Jefferies out with a note this morning on monlunabant based on comments from Novo at the Jefferies conference last week. Really worthwhile reading. He generated a projected efficacy graph to illustrate what Novo are guiding to. ~17% at 52 wks. That’s quite something. Remember, this is for an oral small molecule that’s taken daily and does not require titration. CB1 traditionally is an MOA that isn’t as gut-centric as incretin analogs/agonists so GI AEs are milder. What puzzles me is why are Novo front running the data so aggressively? Fascinating to watch. Data due 2nd half of this year.

16

𝙂𝙤𝙤𝙙 𝙢𝙤𝙧𝙣𝙞𝙣𝙜, 𝙖𝙡𝙡. 𝙃𝙚𝙧𝙚 𝙞𝙨 𝙢𝙮 𝘽𝙞𝙤𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨 𝙪𝙥𝙙𝙖𝙩𝙚 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙬𝙚𝙚𝙠 𝙬𝙞𝙩𝙝 𝙩𝙝𝙚 𝙩𝙤𝙥 𝙩𝙚𝙣 𝙝𝙚𝙖𝙙𝙡𝙞𝙣𝙚𝙨 𝙄 𝙛𝙤𝙪𝙣𝙙. I focus on fund raises, mergers, collaborations, IPOs, and key appointments across biotech, pharma, and medical devices. 📢 Sanofi Chief Scientific Officer and Head of Research Frank Nestle, M.D., is leaving the company. 📢Walking Fish Therapeutics has closed after a lead investor backed out of a critical series B round. CEO Rusty Williams, M.D., Ph.D., said in an interview with Fierce Biotech that the company was on the precipice of securing fresh capital to enter the clinic when an unnamed top investor backed out. 📢Swiss antibody specialist Memo Therapeutics AG has added CHF20m to its Series C financing, bringing the total amount raised in the funding round to CHF 45 million. 📢Samsung Medison to buy AI ultrasound company Sonio. Sonio’s software uses deep learning to improve image quality. Its software will remain compatible with all ultrasound machines, the company said. 📢Takeda may be paring back its R&D pipeline in the name of efficiency, but the Japanese pharma has still found $100 million to ensure its clinical pipeline once again features an Alzheimer’s disease drug. 📢Takeda culls cancer, gut and inflammation drugs in R&D rethink, making cuts to its clinical-phase pipeline, hacking off midphase programs and early-stage prospects as part of a push to focus on its most promising candidates. 📢In its ongoing mission to find the next Wegovy, Novo Nordisk has penned another partnership to seek out next-gen obesity treatments. This time, it's a $600 million biobucks pact with Flagship-founded Metaphore Biotechnologies to develop up to two candidates. 📢QuidelOrtho has been looking for a new CEO since its board of directors fired the medical testing company’s last chief earlier this year. Now, it’s been able to lure Brian Blaser, Abbott’s former diagnostics head, out of retirement. 📢The infectious disease diagnostic developer Karius has secured another $100 million to help expand the reach of its microbial DNA test designed to detect more than 1,000 different pathogens from a single blood sample. 📢Prologue Medicines, Flagship’s newest startup, looks to mine viruses for new drugs The company is using a database of viral proteins and machine learning tools to develop drugs for a wide range of diseases, according to CEO Lovisa Afzelius. Newton Colmore is a specialist recruiter, dedicated to the medical devices, biotech, and drug discovery markets, globally. We help our clients find the experts they need to develop and commercialise novel devices, technologies, and therapeutics. #medicaldevices #biotechnology #therapeutics #diagnostics #innovation #syntheticbiology #drugdiscovery

3

Appreciate John Glasspool’s op/ed in the Boston Business Journal. He brings the perspective of a CEO of a Cambridge-based #biotech, MassBio member Anthos Therapeutics, to the debate over the White House’s plans to use Bayh-Dole as a blunt instrument to force price controls. The reality is that any effort to use “march in” rights like this would hurt innovation, chill the collaborative relationship between research institutes and small biotechs (which are the lion’s share of Massachusetts’ industry) when it comes to advancing early science, and do nothing to address the price of drugs. You can’t argue with Bayh-Dole’s success: 6 million jobs, $2 trillion in economic output, thousands of startups, and 200+ drugs and vaccines. As John points out, we can’t go back to a time when science sat on shelves instead of getting into medicine cabinets. https://lnkd.in/ezkNndKA cc: The Bayh-Dole Coalition

32

3 Comments

According to the latest analysis from BiopharmIQ by Amp, Pennsylvania holds the #3 position in CGT ecosystems for companies with under 50 employees. However, as these companies grow, I hope they choose to mature in Philadelphia. Recently, I've had numerous conversations about the region's shortage of leadership/ executive talent. It's intriguing considering that 80% of Big Pharma is located within 90 miles of the city. What the CGT sector needs is more experienced leadership, and Big Pharma could serve as an excellent source for it. For the latest updates on Life Science and Biotech news in the Philadelphia region, join The Informal Philadelphia Life Science Group below!

3