Monday, June 6, 2022 Daily Archives

Bristol-Myers forks out $4.1bn to acquire Turning Point Therapeutics

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Bristol-Myers Squibb will acquire oncology firm Turning Point Therapeutics for 4.1 billion and gains its lead asset, repotrectinib aiming to treat lung cancer and solid tumors. The merger agreement will see Bristol-Myers Squibb (BMS) pay $76.00 per share to acquire Turning Point Therapeutics (TPT) and the deal is expected to close during the third quarter of this year. As part of the deal, BMS will take on TPTs lead asset, repotrectinib, a next generation tyrosine kinase inhibitor (TKI) targeting ROS1…

June 6, 2022

From CA to WA: Sana cell therapy plant switch up to save $100m

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In what the firm describes as a “prudent” move, Sana has turned its back on a cell therapy facility in Fremont, California, instead leasing a plant in Bothell, Washington. In February 2021, allogeneic cell therapy developer Sana Therapeutics launched “the largest-ever IPO for a preclinical biotech company,” according to Reuters, raising $587.5 million. Months later, the firm leased 163,193 square feet of manufacturing space in a Fremont, California but a cost-saving initiative has seen the firm announce plans to relocate…

June 6, 2022

Collaboration key to supply chain security, says UK vaccine procurer head

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COVID-19 highlighted issues with supply chains and exposed the best way to manage risk is through collaboration, says head of supply chain for the UK’s Vaccine Taskforce. Globally, various countries struggled with a secure supply chain during the COVID-19 pandemic. However, the UK, through the advent of the Vaccine Taskforce, was able to facilitate the path towards the introduction of a COVID-19 vaccine in the UK and its global distribution Rivals came together through unforeseen collaborations such as Merck & Co.…

June 6, 2022