Magenta Therapeutics | February 03, 2023
On February 2, 2023, Magenta Therapeutics, a clinical-stage biotech firm focused on enhancing stem cell transplantation, announced that it has completed a business evaluation, including a review of its programs, resources, and capabilities. Magenta has decided to cease further program development and conduct a complete examination of strategic alternatives aimed at maximizing shareholder value.
Magenta will investigate potential strategic options, including, but not limited to, merger, an acquisition, business combination, or other transaction, as part of this review process. There can be no certainty that this review process will result in Magenta seeking a deal or that any such deal if pursued, will be completed on favorable terms.
Magenta has not established a deadline for completing this review process and intends to speak further only if and when the Board of Directors has approved a clear course of action, the review process is completed, or another disclosure is considered to be appropriate.
About Magenta Therapeutics
Founded in 2016, Magenta Therapeutics is a clinical-stage biotechnology firm that develops therapies to help more patients with blood cancers, genetic diseases, and autoimmune diseases benefit from the curative power of stem cell transplant. Magenta is revolutionizing immunological reset for more patients by combining leadership in stem cell biology and biotherapeutics research with clinical and regulatory expertise, a new business model and vast networks in the stem cell transplant community.
CELL AND GENE THERAPY, INDUSTRIAL IMPACT
Scientist.com | February 02, 2023
On February 1, 2023, Scientist.com, the biopharma industry's largest R&D marketplace, announced the release of a new iOS mobile app. The app provides a new, easy-to-use, on-the-go experience for purchase request approvals and compliance. In addition, iPhone users receive untethered notifications for accepting, delegating, and clarifying requests without needing to use their computers. The result is speedier approvals and fewer delays in scientific discovery.
Scientist.com has spent the past fourteen years developing a digital marketplace that allows scientists to devote more time to science and less time to paperwork. The platform enables researchers to test more ideas in less time and at a lesser cost. It digitizes a company's complete research activities, automatically tracking purchases, contract management, payment processing, and generating business intelligence reports.
Scientist.com Founder and CTO Chris Petersen commented, "One of the major barriers to drug discovery is the time it takes to ensure all compliance measures are met for a given research project, and understandably so." He added, "Our goal in building the Compliance Mobile App is to put compliance in the pocket of approvers, therefore minimizing the time it takes for researchers to move through the R&D process."
(Source – Business Wire)
Registered users of the Scientist.com platform can now get the Compliance Mobile App free from the Apple App Store
Founded in 2007, Scientist.com is the world's largest medical research marketplace. Its digital research platform combines a custom-built, cloud-native technology stack with a white-glove customer and scientific support, helping pharmaceutical scientists discover life-saving drugs in less time and at a lower cost. As a result, Scientist.com is accelerating and lowering the cost of medical research by connecting scientists and allowing them to exchange ideas and transact online effortlessly. The company now has a presence in enterprise marketplaces for 20 of the world's top 30 pharmaceutical firms, 80 biotechnology enterprises, and the National Institutes of Health in the United States (NIH).
MEDTECH, INDUSTRIAL IMPACT
INOVIO Pharmaceuticals, Inc. | February 01, 2023
On January 31, 2023, INOVIO, a leading biotechnology firm focused on the development and commercialization of DNA medicines to protect and treat people from cancer, HPV-associated diseases, and infectious diseases, announced a strategic reorganization to meet operational efficiency commitments and better position the company to deliver DNA medicines to patients.
Following the previously announced end of clinical development projects in late 2022, the restructuring is estimated to result in yearly savings of roughly $4.3 million and an 11% reduction in full-time personnel. These and other strategic initiatives divert resources needed to progress critical programs, such as INOVIO's product candidate INO-3107 for the treatment of Recurrent Respiratory Papillomatosis (RRP).
INOVIO anticipates a $1.1 million one-time restructuring charge in the first quarter of 2023. Its 2022 fourth-quarter and year-end financial results announcement, scheduled for March 2023, will provide more precise financial guidance.
INOVIO's lead initiatives include therapies for HPV-related disorders, such as INO-3107 for RRP and VGX-3100 for cervical high-grade squamous intraepithelial lesions (HSIL). In the first quarter of 2023, INOVIO is anticipated to release the results of its Phase 3 REVEAL2 study for VGX-3100 and the second cohort of its Phase 1/2 trial for INO-3107.
About INOVIO Pharmaceuticals, Inc.
Headquartered in Plymouth Meeting, PA, INOVIO Pharmaceuticals, Inc. is a biotechnology firm dedicated to bringing precisely designed DNA therapeutics to market in order to treat, cure, and protect individuals from infectious diseases, cancer, and HPV-related diseases. INOVIO's in-development DNA medications are delivered utilizing its investigational proprietary smart device, CELLECTRA®, to elicit immune responses against targeted pathogens and malignancies. Its DNA medicines platform and the proprietary smart device can target almost any DNA sequence. With 15 clinical studies in development, the company has the potential to save and protect lives throughout the world and fuel a new decade of DNA medicines.