Pharma & Biotech
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West Point-, Lansdale-Homed Merck Formalizes Purchase of Silicon Valley Biosciences Company
Merck — the North Jersey-centric big pharma firm with significant Montco outposts in West Point and Lansdale — has entered into a purchase agreement to acquire Imago Biosciences of Redwood City, Calif., southwest of San Francisco. John George provided the details of the intended $1.35 billion transaction in the Philadelphia Business Journal. The acquisition is…
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FDA Approves CSL Behring Marketing of Hemophilia B Gene Therapy; Its $3.5M List Price Is a Record
The Food and Drug Administration has awarded King of Prussia-based CSL Behring marketing approval for Hemgenix, the first hemophilia B gene therapy to treat adults, writes John George for the Philadelphia Business Journal. The one-time gene therapy that has been approved to treat the chronic bleeding disorder will have a list price of $3.5 million.…
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Inovio Pulls Development of Two Vaccines; Stock-Price Health Weakens in Response
Plymouth Meeting pharmaceutical company Inovio has discontinued development of two vaccines, based on evidence of their ineffectiveness. As a result, its stock prices showed a less-than-healthy response, as reported by John George in the Philadelphia Business Journal. The vaccines were being developed to address: Inovio’s leaders said they agreed with its development collaborator — the…
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Recent Activity in Oncology and Vaccine Lines of Business May Signal That Merck May Be Ready to Perk
Merck & Co. has raised its revenue outlook, based on a notable rise in sales for 3Q2022. Sabela Ojea reported the revised projections in the Philadelphia Business Journal. The new revenue projections for the North Wales entity have been lifted 14 percent based on sales of oncology treatments and vaccines. At the quarter’s Sept. 30…
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Ardmore-based ZenQMS Brings on Susquehanna Growth Equity as Minority Investment Partner
After 13 years without an outside investment, Abington-based ZenQMS brought on Susquehanna Growth Equity as a minority investment partner in August to help with its growth, writes Sarah Huffman for Technical.ly. Co-founded by Panos Boudouvas and Graham Wert, the company built a platform that helps life sciences companies manage their compliance with industry requirements. “Proper…
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Friends’ Central School Graduate Achieves Same Prestigious Nobel Honor as Did Marie Curie
K. Barry Sharpless, a graduate of Friends’ Central School in Wynnewood, won his second Nobel Prize in chemistry this week, writes Tom Avril for The Philadelphia Inquirer. He joined an elite group of scientists who have won two Nobel Prizes, including Marie Curie, and an even smaller group of those who won the Royal Swedish…
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Big-Pharma GSK Announces First Woman CFO; She Arrives as ‘Highly Experienced’ Leader
Big Pharma company GSK — which has a multi-site presence in Montgomery County (King of Prussia, Conshohocken, and Collegeville) — has announced its first female CFO. Burberry executive Julie Brown is set to replace Iain Mackay, who is retiring in May. John George covered the new hire in the Philadelphia Business Journal. Brown’s corporate résumé…
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Calif.-Based Biopharm Company to Set Up Shop at Hatfield Plant
Alladapt of Menlo Park, Calif., is investing $30 million to expand its operations to a manufacturing plant in Hatfield. The biopharmaceutical company specializes in developing food-allergy treatments. Its Montgomery County presence is expected to be a small jobs creator (up to 10 positions), but those career moves will clearly benefit the professionals who fill them.…
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Hatfield Company May Have Cracked the Nut on a Test to Diagnose Peanut Allergies
Allergensis, a Hatfield-based manufacturer, is marketing tests that it states are predictively accurate in diagnosing peanut allergies, providing more reliable results of traditional skin or blood testing. Jennifer Goodwin cracked open this breakthrough in Food Allergy. The firm’s tests enable patients to determine allergy thresholds more accurately by measuring epitopes, the sequences of amino…
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Montgomery County to Receive Part of $1B Settlement Pa. Made with Pharmaceutical Companies
Montgomery County will receive part of the more than $1 billion settlement between Pa. and three major pharmaceutical distributors regarding their roles in creating and fueling the opioid epidemic, reported John McDevitt for KYW Newsradio. All 67 counties in the Commonwealth are eligible for part of the settlement. The factors that will determine geographic settlement…
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Hatfield Medical Imaging Tech Developer Merges with Australian Medical Software Company
CurveBeam AI, a Hatfield medical imaging technology developer, has signed a merger deal with StraxCorp, Melbourne, Australia. John George covered the intercontinental collaboration for the Philadelphia Business Journal. The financial specifics are being kept under wraps at the present; however, the newly united entities are targeting an IPO for next year. This was no union…
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A Plan to Expand: Almac Group Intends Big Things for Its North American HQ in Souderton
Almac Group is planning a major expansion to its North American headquarters in Souderton that will considerably increase the company’s capacity for manufacturing, packaging, and storage. The plan caught Natalie Kostelni’s vision in the Philadelphia Business Journal. The Irish company will invest $65 million into a 100,000-square-foot addition that will connect to its existing 240,000-square-foot…
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King of Prussia Pharma Company Enters Phase Three for Easy-to-Consume Prostate Treatment
Tavanta Therapeutics, King of Prussia, has reached phase three of clinical trials associated with TAVT-45, a pipeline of specialty drugs to treat prostate cancer in men who also have difficulty swallowing. The new suspension formula is intended to work despite patient experience of dysphagia, a labored effort to move any solid substance (food, medications) from…
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Calif. Biotech Firm Wants King of Prussia for Its East-Coast Operations But Must Build to Fit Shifted Staff
Exelixis Inc., a Calif. biotech company, targeted King of Prussia to hold its East Coast operations. However, absent a building it found suitable, it is now eyeing a built-to-suit facility. Natalie Kostelni unrolled the blueprints on this proposed structure in the Philadelphia Business Journal. Exelixis is presently working with Brandywine Trust Realty to develop a…
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British Biotech Firm — with Vital FDA Approval in Hand — to Boost Plymouth Meeting Workforce by 3.5×
Angle, a U.K.-housed biotech firm with its U.S. H.Q. in Plymouth Meeting, is setting to increase its workforce here by more than triple the present payroll. The action, as reported by John George in the Philadelphia Business Journal, comes in response to FDA approval of one of its cornerstone technologies. The additional hands will be…
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Biotech Company in Lower Gwynedd Prescribes New, Streamlined Corporate Structure for C-Suite
AnPaC Bio-Medical Science has gotten shareholder approval to consolidate its c-suite. The change for the international biotech developer of cancer screening and detection technologies will affect its operations in China, as well as its U.S. operations, headquartered in Lower Gwynedd. John George covered the executive reduction in the Philadelphia Business Journal. The reconfiguration is being…
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Plymouth Meeting Biopharma Co. Turns Focus Inward to Heal Itself by Cutting Costs
Plymouth Meeting biopharma firm Inovio, working to cure its own ills, is undergoing a reorg. The multiple measures it is taking under new CEO Dr. Jacqueline Shea are designed to bolster its cash position into 3Q2024, as John George reported in the Philadelphia Business Journal. Internal changes started last month, with the removal of CEO…
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Shanghai Contract Research Organization with Fort Washington U.S. HQ Raises $150 Million
Biopharma contract research organization (CRO) ClinChoice has raised $150 million Series-E round financing. The firm’s global headquarters is in Shanghai, with its U.S. operations emanating from Fort Washington. The company aids pharmaceutical, biotechnology, medical device, and consumer clients in bringing approved drugs and devices to market. Its customer base includes startups. The investment was led…
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