Today, we announce the appointment of three members to our board of directors. “Anna, John and Tom each brings a diversified skillset spanning biopharma entrepreneurship, operational and commercial expertise, and deep oncology drug development experience. We look forward to partnering with them as we continue to build our pipeline and advance our first program into the clinic this year.” - Darrin Miles, CEO, Nested Therapeutics Learn more about us at https://nestedtx.com/
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Merck opened up their wallets and announced a gigantic partnership deal with Daiichi at ESMO, spending $4 billion upfront with $1.5 billion in continuation payments (and over $16 billion in sales incentives!). This continues a spending spree in antibody-drug conjugates. The Pfizer-Seagen deal ($43 billion) was the most money on the table, but Eli Lilly and GSK have also invested in the space. Lilly's head of oncology (Jacob Van Naarden) likens the frenzy to the immunotherapy revolution that birthed Keytruda and Optivo and spurred tremendous activity. The data are promising and many big players are putting their money where their mouths are. Ideally, we'll have another significant oncology breakthrough on the same scale as PD-1. https://lnkd.in/g9T-D_pw
The ESMO ADC Files: After Enhertu success, Daiichi and AstraZeneca branch off for next phase of pipelines
fiercebiotech.com
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In a strategic move, Bristol Myers Squibb has acquired radiopharmaceutical company RayzeBio for $4.1 billion, highlighting the growing interest in this innovative field of cancer treatment. 🔍 Key Takeaways - - RayzeBio, a leader in radiopharmaceutical drug development, has been developing RYZ101 for neuroendocrine tumors. - The deal reflects the potential of radiopharmaceuticals to effectively target tumors with minimal side effects. - Bristol Myers Squibb outbid other major pharma companies, showcasing its aggressive strategy in expanding its oncology portfolio. 📈 What This Means - This acquisition underscores the significant growth in the radiopharmaceutical sector and the commitment to advancing cancer treatment. #Radiopharmaceuticals #BristolMyersSquibb #HealthcareInnovation #DrugDevelopment
RayzeBio drew other pharma interest before Bristol Myers deal
biopharmadive.com
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Senior Technical Recruiter (Biotech) // PD, MSAT, Tech Transfer, Manufacturing, CMC (USP/DSP/DP) | Actively recruiting for Senior Roles in Switzerland
Novartis has announced plans to acquire MorphoSys AG, a global biopharmaceutical company specializing in innovative oncology treatments, for EUR 2.7 Billion in cash, representing EUR 68 per share. This transaction will bolster Novartis' oncology pipeline, adding assets like pelabresib and tulmimetostat, targeting myelofibrosis and solid tumors/lymphomas, respectively. Pelabresib has shown promising results in reducing spleen volume and improving symptoms in myelofibrosis patients, with plans for regulatory filing with the U.S. FDA in the second half of 2024. The acquisition aligns with Novartis' strategic focus on oncology and its commitment to developing advanced cancer therapies. Pending regulatory approvals, the transaction is expected to close in the first half of 2024. Source: https://lnkd.in/ey7mcsMe #novartis #biotechnology #biopharma #biopharmaceuticals #oncology #switzerland
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"Ambitious" may not be strong enough of a word here if they intend to launch 20 new drugs within the next six years. For some context, AZ manufactures, markets, and/or distributes ~37 drugs in the US, so this would be a major leap forward. I suppose that "launch" can be interpreted in many ways 😁 . It remains unclear how they intend to get there by "maintaining" their current R&D trajectory and instead focusing on operational and productivity improvements. An aggressive M&A strategy could provide one strategic path, but isn't forecasted. Nonetheless, it still feels like a small win for the industry to see such an aggressive plan come out at such a struggling time for the life sciences. Fingers crossed for patients that AZ will be able to hit even 10% of this goal.
AstraZeneca on Tuesday laid out an ambitious plan to boost growth in its existing oncology, biopharma and rare disease portfolios, as well as launch 20 new medicines before the end of the decade. #biopharma #biospace https://hubs.li/Q02xY7_90
AstraZeneca Sets $80B Revenue Target, Goal of 20 New Drugs by 2030 | BioSpace
biospace.com
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WG Biotech ApS, Director of Y-mAbs Therapeutics Inc. (YMAB), bought 51,837 shares at $5.97 for a total of $309,477. Opinion: According to Post on the Fly, Reports Q3 revenue $20.5M, consensus $20.93M .."We delivered $20 M in DANYELZA or naxitamab-gqgk net product sales in the third quarter of 2023, reflecting 59% growth compared to the same period in 2022, as sales continued trending upward since our initial launch," said Mike Rossi, President and Chief Executive Officer. "Our U.S. commercial team has made excellent progress by penetrating more high-volume Children's Oncology Group sites while our ex-U.S. partners continue to gain further traction with physicians prescribing DANYELZA across Europe and China for relapsed or refractory high-risk neuroblastoma patients." Mr. Rossi continued, "Supported by a solid financial foundation, we have advanced our novel SADA radioimmunotherapy platform with the continued execution of our Phase 1 GD2-SADA trial and the recent Investigational New Drug clearance of our CD38-SADA program. With existing cash and cash equivalents anticipated to support our business operations as currently planned into 2027, a growing commercial product in DANYELZA, and a differentiated radioimmunotherapy platform in SADA, we believe Y-mAbs is on a path to potentially transform the treatment paradigm for a variety of cancers and improve patients' lives." $STOCK $YMAB https://lnkd.in/dtGYvsvf
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Dots Joiner, Biz Growth & Strategic Planning Goals Creator, Results-Driven CEO in Pharma, Biotech, Medical Devices & Nutrition, University Polyclinics, Medical Foundations & Healthcare Solutions Providers Environments
AbbVie expands ADC portfolio via $10.1-billion deal to buy ImmunoGen, Inc. Matthew Dennis PUBLISHED: NOVEMBER 30, 2023 Ref: Morningstar, Nasdaq, FinanzNachrichten, Yahoo Finance!, Bloomberg, AbbVie AbbVie agreed to buy ImmunoGen, Inc. for $31.26 per share in cash, or a total equity value of approximately $10.1 billion, bolstering its #oncology portfolio with the addition of the antibody-drug conjugate (ADC) Elahere (mirvetuximab soravtansine). AbbVie noted that the purchase will accelerate its move into the commercial solid #tumour space, with its current marketed drugs focused on hematological malignancies. "The acquisition of ImmunoGen, Inc. demonstrates our commitment to deliver on our long-term growth strategy and enables AbbVie to further diversify our oncology pipeline across solid tumours,” remarked CEO Richard A. Gonzalez. The transaction, which represents a 95% premium over ImmunoGen, Inc.’s closing share price on November 29, has been approved by the boards of both companies and is expected to close in the middle of 2024. Positive confirmatory study #Elahere gained accelerated FDA approval at the end of last year for the treatment of adults with FRα-positive, platinum-resistant epithelial ovarian, fallopian tube or primary peritoneal cancer, who have received one to three prior systemic treatment regimens. Meanwhile, in May, a positive read-out from the confirmatory Phase III MIRASOL trial set up a pathway to regular approval in the US, as well as a marketing application in Europe. Takeda holds rights to Elahere in Japan, while the drug is partnered with Huadong Medicine in China. AbbVie suggested that Elahere has the potential to be a multi-billion-dollar product with expansion opportunities in earlier lines of therapy. ImmunoGen, Inc. recently reported that sales of Elahere were $105.2 million in the third quarter and over $210 million in the first nine months of the year. At the time, ImmunoGen CEO Mark Enyedy said that the drug “is tracking towards one of the most successful first product launches in oncology in a decade.” Building on internal ADC platform... ImmunoGen, Inc.’s pipeline also includes a number of next-generation ADCs, such as the Phase II asset pivekimab sunirine, which targets CD123, and the earlier-stage therapy IMGN-151, directed against FRα. AbbVie noted that the pipeline additions will complement its own ADC platform, led by the cMET-targeting therapy telisotuzumab vedotin. Earlier this week, AbbVie announced positive Phase II data for telisotuzumab vedotin in patients with c-Met protein overexpression, EGFR wild type, advanced/metastatic non-squamous non-small-cell lung cancer. The drugmaker suggested that the overall response rate results from the LUMINOSITY trial could accelerated approval of the therapy.
AbbVie in $10.1-billion deal to buy ImmunoGen
ml.firstwordpharma.com
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🔍 Exploring the 2023 Landscape of Oncology Therapeutics As we look back on 2023, the impact of innovation in oncology is clearly reflected in the sales figures of leading oncology-focused therapies. MERCK's Keytruda tops the chart with an impressive $25.05 billion, underscoring its continued pivotal role in cancer treatment. Darzalex follows with $9.7 billion, demonstrating a significant option for treating multiple myeloma patients. This data isn’t just numbers; it's a testament to the relentless pursuit of life-saving treatments by the pharmaceutical industry. Companies like Bristol Myers Squibb, AstraZeneca, and Roche continue to make strides with drugs like Opdivo, Tagrisso, and Tecentriq - each contributing billions to oncology sales. For professionals in the healthcare and pharmaceutical sectors, these trends underscore a dynamic market environment driven by research and patient needs. They also call for continuing to foster innovation that can transform patient outcomes. Questions to ponder: What impacts do these drugs have on the standards of oncological care? How does the economic performance of these drugs influence research priorities? What future innovations in oncology are you most hopeful about? #Oncology #Pharmaceuticals #HealthcareInnovation #MarketTrends #Keytruda #Darzalex #Opdivo
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Pfizer Inc.'s acquisition of biotech firm Seagen Inc. at a staggering $43 billion highlights a pivotal shift in its oncology strategy, reflecting confidence in Seagen's cutting-edge cancer therapies. This strategic move not only amplifies Pfizer's presence in the pharmaceutical industry but also leverages Seagen's innovative monoclonal antibody-based treatments. With regulatory approvals in place, Seagen is expected to contribute over $10 billion in revenues by 2030. Our analysis suggests a premium valuation of Seagen, justified by its promising revenue forecasts and potential to bolster Pfizer's market position post-COVID-19. Written by: Anton Bruckner READ FULL ARTICLE HERE: https://lnkd.in/dG8WB-Mu
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I’m excited to join the panel discussion during next week’s FDA-AACR public workshop on Optimizing Dosages for Oncology Drug Products! It will be a great discussion with a lot of practical examples on how to integrate dose optimization into drug development programs. The workshop is on Thursday and Friday next week and registration is free, please join us! https://lnkd.in/eciVhExX #AACRSciencePolicy
FDA-AACR Public Workshop: Optimizing Dosages for Oncology Drug Products
https://www.aacr.org
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The perennial tension between accurate diagnostic tests and the framework available for their regulatory review went down a notch with the initiative from the Oncology Center of Excellence at the FDA . Share with me the excitement about this change in the blog https://lnkd.in/gpZx3aqz
FDA Launches Pilot Program to Help Reduce Risks Associated with Using Laboratory Developed Tests to Identify Cancer Biomarkers
fda.gov
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