Healthcare & Life Sciences News & Trends: Aug Week 3

Healthcare & Life Sciences News & Trends: Aug Week 3

Healthcare & Life Sciences News & Trends: Aug Week 3

1. Business Moves

i. J&J to Acquire V-Wave for Up to US$1.7b

Johnson & Johnson (J&J) is acquiring V-Wave for up to US$1.7 billion to expand its medical technology portfolio and treatments for heart failure. The deal includes US$600 million upfront and additional milestone payments of up to US$1.1 billion. V-Wave is developing a breakthrough device, an interatrial shunt, for heart failure patients that could be the first of its kind. The transaction is set to close by year-end.

Takeaway: This acquisition aligns with J&J’s strategy to concentrate on high-growth markets after spinning off its consumer health division, Kenvue. The transaction is expected to have a minor dilutive impact on J&J’s earnings per share in 2024 and 2025.

Read the full article about J&J’s acquisition of V-Wave.

 

ii. J&J Bags FDA Approval for Rybrevant Combo in First-Line Lung Cancer

J&J received FDA approval for a new lung cancer drug combination, Rybrevant and Lazcluze (lazertinib), which targets non-small cell lung cancer (NSCLC) with EGFR mutations.

Takeaway: The FDA approval of J&J’s lung cancer combination drug sets the stage for competition against AstraZeneca’s Tagrisso. However, success hinges on overcoming challenges related to complex administration and the higher risk of adverse effects like blood clots. J&J is addressing these with a new subcutaneous version of Rybrevant, which shows promise in reducing these drawbacks.

Read the full article about the FDA approval for J&J’s Rybrevant combo.

 

iii. Adcendo Buys Rights to Multitude’s Anti-TF ADC for $1b

Danish biotech company Adcendo secured a deal worth over $1 billion to acquire the ex-China rights to a preclinical antibody-drug conjugate (ADC) called ADCE-T02 from Multitude Therapeutics. The agreement includes significant milestone payments and royalties. ADCE-T02 is a highly differentiated anti-tissue factor ADC that uses advanced linker-payload technology, offering a better balance of efficacy, safety, and treatment stability. A phase 1 trial will commence in Australia later this year, with plans for further trials in the US and Europe.

Takeaway: Adcendo’s strategic acquisition of a novel ADC candidate from Multitude Therapeutics strengthens its first-in-class ADC pipeline and positions it to become a clinical-stage biotech by the end of 2024. Multitude’s rise stems from its innovative technology platforms (MabArray and T1000), which have proven instrumental in advancing competitive ADC pipelines. This success has attracted significant investment and led to collaborations that validate Multitude’s technological edge. The company’s evolution from an agricultural research background to a formidable player in the pharmaceutical industry reflects its strategic adaptability.

Read the full article about Adcendo’s $1b biobuck deal.

 

2. People Moves

i. Biotech: RemeGen, Genentech, Genmab, Perrigo and Latigo

RemeGen: RemeGen Biosciences appointed Dr He Ruyi as the Chief Strategy Officer. He will continue serving as board member and core technical personnel but will step down from his roles as Chief Medical Officer (CMO) and senior management. He has over 33 years of experience in China and the US and was involved in strategy and management work at the FDA and China’s drug regulatory agencies.

Genentech: Genentech is restructuring its cancer research operations:

  • It will close its dedicated cancer immunology department and merge it with its molecular oncology research unit under one consolidated team. This decision is part of an effort to better focus on current scientific opportunities rather than a broad company-wide directive.
  • Renowned cell biologist Ira Mellman will be leaving the company. Mellman was a key figure in cancer immunology research and has been with Genentech for 17 years.
  • Discovery functions in the human pathobiology department and OMNI reverse translation group will be transferred to the departments of immunology and neuroscience.

Mellman’s departure is significant given his instrumental role in advancing cancer immunology and his leadership in key projects at Genentech. This includes Roche’s entry into cell therapy and collaborations with BioNTech on Mrna-personalised cancer vaccines.

Genmab: Danish antibody specialist Genmab is restructuring its executive team as it expands its commercialisation efforts. With the departure of Chief Operating Officer (COO) Anthony Mancini, the company has created two new C-level roles:

  • The Chief Technical Officer (CTO) role is filled by Rayne Waller, a former Amgen executive who recently served as Capsida Biotherapeutics’ COO. Waller will oversee manufacturing and supply chain operations from preclinical to commercial stages.
  • Genmab’s US general manager, Brad Bailey, was promoted to Chief Commercial Officer to lead commercial activities.

These changes align with Genmab’s strategic push toward moving beyond its previous reliance on partnerships and royalties. The company’s commercial portfolio has grown with the recent US launch of Epkinly, a blood cancer therapy co-developed with AbbVie, and the cervical cancer drug Tivdak, which was developed with Pfizer. With strong revenue growth projections for 2024, Genmab is preparing to manage its commercial assets independently while advancing key late-stage clinical programmes. The restructuring and acquisition of ProfoundBio indicate Genmab’s intent to build out its capabilities and bring its pipeline products to market on its own.

Latigo: Latigo Biotherapeutics, a biotech focused on non-opioid pain medicines, hired Dr Neil Singla as CMO. Singla, who has over two decades of experience in pain medicine, was the founder of Lotus Clinical Research and led it as CEO before becoming Chief Scientific Officer. He also chairs a clinical trials group for the International Association for the Study of Pain. Singla will focus on advancing Latigo’s pipeline.

BioAge: BioAge Labs appointed Jean-Pierre Garnier, a former GSK CEO, as the chair of its board of directors. Garnier previously led GSK’s acquisition of Sirtris Pharmaceuticals. Despite Sirtris’ failure, BioAge believes Garnier’s expertise in guiding biotech firms through growth phases will be critical as they advance their metabolic ageing therapies, particularly their lead compound, azelaprag. The company recently secured $170 million to leverage the potential of its apelin receptor agonist azelaprag combined with GLP-1 drugs for enhancing weight loss and maintaining muscle mass.

Read the full article about RemeGen’s CMO.

Read the full article about Mellman’s departure from Genentech.

Read the full article about Genmab’s C-suite reshuffle.

Read the full article about Latigo’s CMO.

 

ii. Healthcare: Perrigo

Perrigo: Perrigo amidst a significant restructuring, including a 6% workforce reduction, but is growing its leadership team. The company has appointed David Ball, Ph.D., as its first Chief Brand and Digital Officer to lead its global marketing strategy, enhance brand visibility, and explore new market opportunities. Ball, who held leadership roles at Bayer and Procter & Gamble, has extensive experience in the consumer health and marketing fields.

Read the full article about Perrigo’s first Chief Brand and Digital Officer.

 

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Image Sources:

  • Pharmaphorum
  • Johnson & Johnson
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