Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to […]

San Antonio — Rapamycin Holdings, a life sciences business working to commercialize a new formulation of an immunosuppressant as a prostate cancer drug, has changed its name to Emtora Biosciences and hired a new CEO. Carole Spangler Vaughn is taking over at Emtora for Dan Hargrove, who has spent about 18 months in the chief executive […]

It’s no secret that so-called PARP inhibitors, a new class of cancer drugs, have struggled to gain traction commercially, even as they’ve shown promise treating multiple tumor types. But today brings news that could bolster the future prospect of PARP blockers: one of them, a drug known as olaparib (Lynparza) from AstraZeneca and partner Merck, […]

Dry eye disease affects millions of people in the U.S., and while several treatments, mostly eye drops, are available, they all have flaws. An emerging startup called Oyster Point Pharmaceuticals is trying a completely different approach—a nasal spray that coaxes the body into making tears. And the company just got enough cash to get that […]

[Updated 6:16 p.m. See below.] Plant-based foods and beverages are getting more grocery store shelf space as consumers increasingly shop for meat and milk alternatives. But these products typically carry premium prices because making proteins in a lab is still far more expensive than conventional agriculture. Motif Ingredients says it can use biotechnology and fermentation […]

Novartis has agreed to pay $150 million to Ionis Pharmaceuticals and Boston-based Akcea Therapeutics for the rights to a clinical-stage drug meant to treat patients with abnormally high levels of a protein that is considered a risk factor for cardiovascular disease. The experimental drug, known as AKCEA-APO(a)-LRx by Akcea and TQJ230 by the Swiss pharma […]

Section 32, the venture capital fund based in San Diego’s Cardiff-by-the-Sea community, has raised nearly $200 million for its second fund. A document filed with securities regulators Friday shed light on comments made the previous week to Xconomy by Section 32 founder Bill Maris, who started the firm in 2017. Maris on Feb. 15 confirmed […]

Roche has agreed to buy Spark Therapeutics for $4.8 billion, the latest strong signal that major pharmaceutical companies are ready to gamble on the promise of gene therapy despite its uncertain commercial prospects. The Swiss pharma giant will pay $114.50 per share, in cash, for Spark (NASDAQ: ONCE), a 122 percent premium to the gene […]

A Karyopharm Therapeutics multiple myeloma drug candidate faces longer odds for speedy FDA approval after the agency’s staff raised questions about the therapy’s efficacy and safety. Staff concerns about Karyopharm drug selinexor were detailed in briefing documents posted Friday afternoon, ahead of an advisory committee meeting scheduled for Tuesday. Such panels are convened to assess […]

Enzyvant has named Rachelle Jacques its new CEO. She comes to the Cambridge, MA, rare disease drug developer from Alexion Pharmaceuticals (NASDAQ: ALXN), where she was senior vice president and global franchise head of complement. Her experience also includes senior roles at Shire and Baxalta. Jacques succeeds Alvin Shih, who will continue to advise Enzyvant. […]

Innovate Biopharmaceuticals (NASDAQ: INNT) CEO Christopher Prior has resigned. In his place, Sandeep Laumas, the executive chairman of Innovate’s board, has been appointed chief executive. Prior had been Innovate’s CEO since 2015. According to a securities filing, he resigned from his chief executive post and board seat on Feb. 19. The filing gave no reason […]

[Updated 2/22/19, 2:42 pm CT. See below.] Exact Sciences screened 934,000 patients for colorectal cancer in 2018 using its stool-based diagnostic test, Cologuard, resulting in a 71 percent surge in annual revenue to $454.5 million, the company announced Thursday. Exact (NASDAQ: EXAS), which relocated from the Boston area to Madison, WI, in 2009, is one […]