Kronos overhauls C-suite

Today’s Big News

Jan 25, 2024

In first biotech IPO of the year, CG Oncology overshoots estimates by bringing in $380M


Saudi Arabia launches plan to become biotech hub by 2040


Kronos calls time on CMO, CSO roles as part of C-suite shakeup


Third Rock adds three new venture partners, including Karuna’s Paul, and promotes two others


Merck finds drug discovery DALL-E, becoming early user of small molecule generative AI tool


Glenmark bags subcutaneous checkpoint inhibitor, moving to turf targeted by Big Pharma

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In first biotech IPO of the year, CG Oncology overshoots estimates by bringing in $380M

In a move that will be seized on as a sign that the IPO window is reopening in 2023, CG Oncology has not only become the first biotech to go public this year but overshot its own estimates.
 

Top Stories

Saudi Arabia launches plan to become biotech hub by 2040

Saudi Arabia has launched a national biotech strategy in efforts to become an international biotech hub within the next 16 years.

Kronos calls time on CMO, CSO roles as part of C-suite shakeup

Kronos Bio had already trimmed back its headcount and pipeline in the wake of a mid-stage cancer flop. Now, it’s the company’s C-suite who are heading to the exits.

Six key considerations for cell and gene therapy patient support programs

Cell and gene therapy patients often require support throughout their treatment journey. Learn key considerations for developing patient support programs.

Third Rock adds three new venture partners, including Karuna’s Paul, and promotes two others

Third Rock is fortifying its ranks, hiring three new venture partners and promoting two others at the firm. Among the new hires is Karuna Therapeutics founder Steve Paul.

Merck finds drug discovery DALL-E, becoming early user of small molecule generative AI tool

Merck & Co. is taking a look at a generative AI platform. As an early user of Variational AI’s technology, the Big Pharma will assess the ability of the platform to generate novel small molecules that match its target product profiles (TPPs).

Glenmark bags subcutaneous checkpoint inhibitor, moving to turf targeted by Big Pharma

Glenmark Pharmaceuticals has entered (PDF) the subcutaneous checkpoint inhibitor space, agreeing to pay "low double digit millions" for the chance to launch envafolimab in markets including India.

Amid high-profile CAR-T safety probe, FDA’s Peter Marks offers first glimpse at data under review

Three months after launching an investigation into the risk of secondary T-cell cancers after treatment with a CAR-T medicine, the FDA has shared more information on the cases that it has seen. But questions remained unanswered.

Abbott outpaces pre-pandemic performance with 11.6% growth in 2023—sans an 18% hit from COVID test sales

Last year's increase easily outstripped not only the “high single-digit” rate Abbott had predicted at the start of the year, but also the 7% growth rate it had posted in the two years leading up to 2020.

With record year, Samsung Biologics bucks CDMO industry's troublesome 2023

Last year proved a challenging year for contract manufacturers across the board, but Korea’s Samsung Biologics appears to have bucked the losing trend by charting what it called an “exceptional" performance. And the company sees more growth ahead.

Intuitive earns CE mark for single-port robot while lining up next multi-port FDA nod

The single-port system, dubbed da Vinci SP, has racked up clearances in the U.S. in recent years allowing it to be used in urology and transoral otolaryngology procedures. The newly bestowed CE mark allows European surgeons to use the SP platform in an even wider range of surgeries.

In downsizing mode, Sage will move headquarters to a smaller space

Two months ago, in presenting quarterly earnings, CEO Barry Greene said Sage Therapeutics was on its way to becoming a “leaner and stronger company.” Part of that mission will come to fruition later this year with a move of its headquarters in Cambridge, Massachusetts. Sage will shift from its 103,000-square-foot headquarters to a 30,567-square-foot office three blocks away, the company said in a regulatory filing.

Most clinicians believe hospitals should address climate change, Commonwealth Fund survey finds

The U.S. healthcare sector is responsible for about 8.5% of greenhouse gas emissions, largely from hospital care and from physician and clinical services. More than half of clinicians said their organization’s climate policies and actions affected their decision to remain in their current job.
 
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'The Top Line': A closer look at new drug approvals in 2023

At Fierce Pharma, the arrival of a new year is synonymous with the release of our annual special report on drug approvals. This week on “The Top Line,” Fierce Pharma’s Eric Sagonowsky and Kevin Dunleavy, both instrumental in creating the special report, are breaking down the numbers and sharing key insights into the landscape of drug approvals in 2023. 

 

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