Chutes & Ladders—CMO walks out on troubled Immunomedics

fiercebiotech | May 03, 2019

Following a rejection from the FDA, Immunomedics is now losing its research lead. Formerly an AstraZeneca cancer research executive, Iannone joined the company last April to help focus its oncology pipeline, after the troubled biotech saw a potential $2 billion deal fall through with Seattle Genetics—and after the board axed former President and CEO Cynthia Sullivan. According to the company, Iannone “has decided to leave the company to pursue a career opportunity close to his home in Pennsylvania,” after many years of working elsewhere.

Spotlight

Attitudes are changing fast on cannabis, and investors are taking note. With the birth of legal recreational markets in places like California and a growing appreciation for the medical applications of cannabinoids such as CBD, the floodgates are open for companies to pursue new and groundbreaking opportunities in the sector.

Spotlight

Attitudes are changing fast on cannabis, and investors are taking note. With the birth of legal recreational markets in places like California and a growing appreciation for the medical applications of cannabinoids such as CBD, the floodgates are open for companies to pursue new and groundbreaking opportunities in the sector.

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Maravai Lifesciences Expands Its Contract Development and Manufacturing Organization (CDMO) Capabilities at Trilink Biotechnologies

Maravai Lifesciences | August 25, 2020

Maravai LifeSciences, a global provider of life science reagents and services to researchers and biotech innovators, is expanding its contract development and manufacturing organization (CDMO) capabilities at TriLink BioTechnologies for the second time in less than a year. The expansion is expected to be completed in the first quarter of 2021 and will increase TriLink's small molecule manufacturing capacity with a focus on additional scale-up of CleanCap®, its proprietary messenger RNA (mRNA) capping technology, for global mRNA vaccine and therapeutic programs. To further address the increasing demand for mRNA development and clinical programs, the company is currently completing the construction of its plasmid DNA production facility as well. Last November, TriLink opened their new headquarters in San Diego, CA and expanded mRNA and small molecule capacity as it opened five Current Good Manufacturing Practice (cGMP) suites. The current investment will further expand the operation with an additional three cGMP suites and four cGMP manufacturing support suites.

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MEDTECH

Roche Signs an Agreement with Sysmex to Bring Haematology Testing Innovations Globally

Roche | January 25, 2021

Roche declares that, on 14 December, 2020, it marked a Global Business Partnership Agreement* (GBP) with Sysmex. Under this new system, the gatherings restored their obligation to the long standing Distribution, Sales and Service (DSS) arrangement, permitting Roche to keep on disseminating Sysmex hematology items, including instruments and reagents. This GBP sees the presentation of an IT Solutions Collaboration Agreement. In the recently characterized joint effort, the two organizations have consented to use their separate IT stages to improve client experience, in the short to mid-term, with a more drawn out term aspiration to utilize the IT frameworks to prompt improved clinical dynamic. The GBP arrangement will run until the finish of 2030. “Roche is committed to supporting improvements in haematology testing, which helps patients with the diagnosis and management of blood diseases, as diverse as anemia and leukaemia”, said Thomas Schinecker, CEO Roche Diagnostics. “Extending our longstanding partnership with Sysmex underscores our unique synergy and our objective to offer our customers high-quality haematology solutions to improve the testing efficiency in central laboratories in hospitals and commercial laboratories, ultimately benefiting the millions of patients living with blood disorders.” The burden of blood disorders is exceptionally high, for patients as well as for society overall. Ongoing examinations assessed that, in Europe, 80 million individuals experience the ill effects of hematological issues and the monetary effect of blood issues in Europe adds up to EUR 23 billion every year, generally in medical services use. Improved administration is a vital factor to neutralize the ascent of this monetary weight for healthcare and society.

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CELL AND GENE THERAPY

PerkinElmer Completes Acquisition of Antibody and Reagent Leader BioLegend

PerkinElmer | September 18, 2021

PerkinElmer, Inc.a global leader committed to innovating for a healthier world, today announced it has completed its acquisition of BioLegend, a leading, worldwide provider of life science antibodies and reagents for a total consideration of approximately $5.25 billion. The acquisition, the largest in PerkinElmer’s history, further expands the Company’s life science franchise into high-growth areas such as cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing. BioLegend’s stellar leaders, teams and technologies will play a critical role in our combined companies’ ability to provide new, innovative solutions to scientists -- helping drive novel therapeutic discovery and development. We also look forward to BioLegend significantly enhancing our leading reagents portfolio as we partner together to innovate and advance science for our customers. - Prahlad Singh, president and chief executive officer of PerkinElmer We are very excited to roll up our sleeves and work together with our new PerkinElmer colleagues to mutually leverage our portfolios, people and shared passion for innovation and science to accelerate the discovery and development of novel therapeutics. PerkinElmer’s broad life science platform and strong global infrastructure will help BioLegend continue to extend our mission of enabling our customers to do legendary discovery. - Gene Lay, founder, president and chief executive officer of BioLegend As previously communicated, it is expected that BioLegend will contribute an incremental $380 million of revenue and $0.30 of adjusted earnings per share accretion to PerkinElmer in fiscal year 2022. Additional commentary regarding its expected financial contribution to the remainder of the current fiscal year will be provided on the Company’s upcoming third quarter 2021 earnings call. PerkinElmer’s expectations for incremental adjusted earnings per share accretion for fiscal year 2022 attributable to BioLegend is provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measure without unreasonable effort due to the unpredictability of the amounts and timing of events affecting the items PerkinElmer excludes from this non-GAAP measure. The timing and amounts of such events and items could be material to PerkinElmer’s results prepared in accordance with GAAP. About PerkinElmer PerkinElmer enables scientists, researchers, and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life science, food, and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of about 15,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the well-being and longevity of people globally. The Company reported revenue of approximately $3.8 billion in 2020, serves customers in 190 countries, and is a component of the S&P 500 index.

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