| 12.03.21 | SEC insider charges see Fore boot CEO Malik; SOTIO comes from nowhere with $316M for next-gen cancer work

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Today's Rundown

Fore fires CEO Malik after SEC insider trading charges during his time as Immunomedics CFO Little European biotech Sotio nabs a super $316M funding round for its superagonist work Gene therapy startup bursts forth from incubation at J&J and F-Prime, graduating with $80M and a Novartis veteran at the helm Sponsored: Optimize Scale-Up for Vaccine and Therapeutic Manufacturing BeyondSpring lurches down as FDA rejects plinabulin, raising questions about lung cancer prospects Biden’s omicron battle plan includes private insurance reimbursement for at-home COVID tests PCMA pulls lawsuit over rebate disclosure rule after reaching deal with Biden admin More growth on the way for CSL? Australian giant in talks to buy Vifor for $7.1B: report Fierce Pharma Asia—China’s insulin price cut; Astellas-Dyno gene therapy deal; Fujifilm’s U.K. investment Chutes & Ladders—GlaxoSmithKline snags Pfizer vax leader Dormitzer

Featured Story

Fore fires CEO Malik after SEC insider trading charges during his time as Immunomedics CFO

By Kyle LaHucik

The SEC charged former Immunomedics Chief Financial Officer Usama Malik with insider trading during his time at the biopharma, now owned by Gilead. As a result, Malik was fired as CEO and director of his current employer, Fore Biotherapeutics, where he lasted less than a year.

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Little European biotech Sotio nabs a super $316M funding round for its superagonist work

By Ben Adams

In one of the biggest funding rounds for a European biotech ever, Czech Republic cancer company Sotio Biotech has grabbed a huge 280 million euro ($316 million) raise.

Gene therapy startup bursts forth from incubation at J&J and F-Prime, graduating with $80M and a Novartis veteran at the helm

By Nick Paul Taylor

AviadoBio has come flying out the traps surrounded by A-list names. Incubated at F-Prime Capital and Johnson & Johnson’s JJDC, AviadoBio exited stealth with $80 million from backers such as New Enterprise Associates and a C-suite led by Novartis veteran Lisa Deschamps.

BeyondSpring lurches down as FDA rejects plinabulin, raising questions about lung cancer prospects

By Nick Paul Taylor

The BeyondSpring roller coaster has plunged downward again. While BeyondSpring wowed investors with its phase 3 lung cancer data in August, the FDA found less to like in another indication, rejecting the drug on the grounds that the single registrational trial was too flimsy to show the drug’s benefit.

Biden’s omicron battle plan includes private insurance reimbursement for at-home COVID tests

By Andrea Park

Nearly two years after the Trump administration tasked private health insurers with reimbursing the total costs of point-of-care COVID tests and health services, Biden will expand that requirement to include at-home tests, too.

PCMA pulls lawsuit over rebate disclosure rule after reaching deal with Biden admin

By Robert King

The PCMA pulled a federal lawsuit that challenged a Trump administration rule that required PBMs to publicly release drug rebate amounts.

More growth on the way for CSL? Australian giant in talks to buy Vifor for $7.1B: report

By Kevin Dunleavy

Australian biotech giant CSL is negotiating with Vifor Pharma to acquire the Swiss company for A$10 billion ($7.1 billion), says the Australian Financial Review. The acquisition would become the largest ever for CSL.

Fierce Pharma Asia—China’s insulin price cut; Astellas-Dyno gene therapy deal; Fujifilm’s U.K. investment

By Angus Liu

Novo Nordisk, Sanofi and Eli Lilly offered big discounts for their insulin products in China. Astellas teamed up with Dyno Therapeutics on viral vectors for gene therapy. Fujifilm is lining up $530 million to expand its U.K. facility. And more.

Chutes & Ladders—GlaxoSmithKline snags Pfizer vax leader Dormitzer

By Kyle LaHucik

GlaxoSmithKline poached Pfizer's RNA and viral vaccines leader Phil Dormitzer, M.D., Ph.D., to shore up its vaccine business as it's lost many research staffers this past year. Parthenon Therapeutics snagged Johnson & Johnson's global head of cell therapy platform and discovery, Tamas Oravecz, Ph.D. And Rafael parted ways with five execs and reinstalled telecom tycoon Howard Jonas as CEO.

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