Pharma & Biotech
-
Madrigal Pharmaceuticals in Conshohocken Reports $14.6 Million in Sales from Groundbreaking NASH Drug Rezdiffra
Conshohocken-based Madrigal Pharmaceuticals generated $14.6 million in sales from Rezdiffra, its first and flagship product, during the second quarter of 2024, writes John George for the Philadelphia Business Journal. Rezdiffra was granted Food and Drug Administration approval in March, and became the first drug cleared to treat nonalcoholic steatohepatitis, or NASH. The product, which hit…
-
Adare Pharma Relocating Headquarters from New Jersey to Northeast Philadelphia
Adare Pharma Solutions is relocating its headquarters to Northeast Philadelphia from New Jersey as part of a $16.8 million expansion project, writes John George for the Philadelphia Business Journal. The company will also open a new lab at the new location and expects to create 115 new jobs within the next three years. Adare, which…
-
Lower Gwynedd-Based Third Arc Bio Raises $165 Million in Funding to Advance Innovative Cancer Treatments
Third Arc Bio, a pharmaceutical tech company based in Lower Gladwyn, has raised $165 million in its first round of funding, reports John George of the Philadelphia Business Journal. According to filings with the SEC, funding was led by Vida Ventures, Cormorant Asset Management, and its founding investor Omega funds, among others. The biotech firm,…
-
Harmony Biosciences in Plymouth Meeting OK’d for Sleep Disorder Drug Use
Plymouth Meeting-based Harmony Biosciences received a green light from the Food and Drug Administration to widen the use of Wakix, its flagship narcolepsy drug, writes John George for the Philadelphia Business Journal. The biopharmaceutical company can now market the sleep disorder drug to pediatric patients who are six and older. The drug was originally granted…
-
London Biotech Firm Acquires Bala-based SwanBio, Launches Spur Therapeutics
Freeline Therapeutics, a London-based biotechnology company, has acquired SwanBio, a gene therapy firm based in Bala Cynwyd, writes John George for the Philadelphia Business Journal. The newly formed entity will operate under the name Spur Therapeutics. The financial details of the acquisition remain confidential. The deal was facilitated by Syncona, the majority investor in…
-
Plymouth Meeting-Based Harmony Biosciences Seeks FDA Nod for Pediatric Use of Narcolepsy Drug Wakix
The Food and Drug Administration (FDA) is set to decide by Thursday on Plymouth Meeting-based Harmony Biosciences‘ application to expand the use of its flagship sleep disorder drug, Wakix, to include pediatric patients, writes John George for the Philadelphia Business Journal. Initially approved in 2019 for adults with narcolepsy experiencing excessive daytime sleepiness or…
-
Conshohocken-based Madrigal Pharmaceuticals Launches Groundbreaking NASH Drug, Rezdiffra
In the less than two months since becoming the first drug developer to receive Food and Drug Administration clearance for a NASH treatment, Madrigal Pharmaceuticals has been hard at work. To this end, the Conshohocken-based company’s first product, Rezdiffra, has received marketing clearance from the FDA as a treatment for NASH patients with moderate to…
-
Plymouth Meeting-based Harmony Biosciences Acquires Epygenix Therapeutics, Adds Potential Epilepsy Treatment to Pipeline
Plymouth Meeting-based Harmony Biosciences acquired Epygenix Therapeutics of Paramus, New Jersey, last month, which added a potential treatment for epilepsy to its new drug candidate pipeline, writes John George for the Philadelphia Business Journal. According to the deal, Harmony will pay $35 million upfront to the North Jersey biopharmaceutical company, as well as potential milestone…
-
Plymouth Meeting-based Inovio Expects to Raise $36M Following “Transformational” 2023
Plymouth Meeting-based Inovio Pharmaceuticals is expecting to raise $36 million through a stock offering this week, writes John George for the Philadelphia Business Journal. The biotechnology company, which is on track to seek approval for its DNA medicine candidate later in the year, is selling 2.5 million shares of its common stock at $7.693 per…
-
Plymouth Meeting-based Harmony Biosciences Enters Exclusive Licensing Deal for Potential New Narcolepsy Therapy
Harmony Biosciences, a Plymouth Meeting-based pharmaceutical company, has entered into an exclusive licensing deal for the rights to develop and commercialize a new potential narcolepsy therapy, writes John George for the Philadelphia Business Journal. Under the terms of the deal, valued at up to $393 million, the pharmaceutical company will pay $25.5 million to Bioprojet…
-
Philadelphia Region’s Bid for Federal EDA Tech Is Officially Submitted
The consortium of more than 100 regional organizations has officially submitted its bid for $80 million in federal EDA Tech Hubs funding for the Philadelphia region, according to a staff report from the City & State Pennsylvania. This just the first step in the process, according to stakeholders. “The ultimate goal – besides jobs, obviously…
-
WSJ: Rite Aid Strikes Deal To Transfer Control Over To Creditors, Settle Opioid Claims
Rite Aid has struck a preliminary deal to transfer ownership of the bankrupt drugstore operator to senior bondholders while also settling lawsuits over its alleged role in overprescribing opioids, writes Alexander Gladstone for The Wall Street Journal. Under the agreed plan, Rite Aid’s senior bondholders would swap their claims for 90 percent of the stock…
-
Madrigal Pharmaceuticals First to Receive FDA Clearance for a NASH Treatment
Madrigal Pharmaceuticals has been given Food and Drug Administration market clearance for its experimental treatment for NASH, a fatty liver disease that causes inflammation of the liver, writes John George for Philadelphia Business Journal. The oral drug will be marketed under the brand name Rezdiffra. This is the first drug approved to treat NASH. The…
-
A Conshohocken Pharmaceuticals Distributor Will Have a New CEO Come the Fall
Cencora, a large pharmaceutical distributor based in Conshohocken, recently announced its plans for new leadership this fall, writes Harold Brubaker for Philadelphia Business Journal. The company’s current chief operating officer Robert P. Mauch will succeed the current CEO Steve Collis effective October 1. Steve Collis who has led the company since 2011 is retiring. He…
-
All Eyes Are on Madrigal Pharmaceuticals as FDA’s Decision Draws Closer
Later this week, the U.S. Food and Drug Administration is expected to make a decision on Madrigal Pharmaceuticals’ experimental NASH treatment, writes John George for Philadelphia Business Journal. NASH or nonalcoholic steatohepatitis is a fatty liver disease for which there is no current FDA-approved treatment. As the Conshohocken company waits for approval for resmetirom, it…
-
Local Initiative Wants to Grow Philadelphia’s Life Sciences Industry and Draw More Talent
A group of local life sciences leaders have launched a new initiative to grow Philadelphia’s life sciences industry and bring in more talent, writes John George for the Philadelphia Business Journal. The Keystone LifeSci Collaborative was made possible by $3.4 million in funding from the American Rescue Plan Act. The initiative will serve as a…
-
WSJ: After Finding Drug to Treat His Ailment, University of Pennsylvania Immunologist Now Wants to Help Others
Dr. David Fajgenbaum, an immunologist at the University of Pennsylvania, found his miracle drug, and now wants to do the same for others, writes Amy Dockser Marcus for The Wall Street Journal. Fajgenbaum was diagnosed with Castleman disease when he was a third-year medical student. He started studying his own blood to see if he…
-
Abington’s Katalin Karikó’s New Book Shares Her Journey from Rejection to COVID-19 Vaccine Hero
Abington biochemist Katalin Karikó recently published a new book, Breaking Through: My Life in Science, which provides a vivid account of her life and decades of derision she had to power through before pioneering Pfizer’s COVID-19 vaccine, writes Robin McKie for The Guardian. Today recognized as one of the world’s greatest biochemists, Karikó was ousted…
Founding Partners
Advertisement
Affiliate Partners
Community Partners
