PharmiWeb Recruiter Blog

GSK

GSK completes acquisition of Affinivax, Inc.

GSK plc (LSE/NYSE: GSK) today announced it has completed the acquisition of Affinivax, Inc (Affinivax), a clinical-stage biopharmaceutical company based in Cambridge (Boston, Massachusetts). Affinivax has pioneered the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines.

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Bayer

Bayer tops the Equality, Diversity and Inclusion leader board in multibillion pharma industry

  • Overall education programmes and employee groups improve pharma leaders’ performance
  • Bayer tops the EDI leader board with +67 sentiment score
  • Astellas takes the bottom spot on +11

A new report[1] by stakeholder intelligence firm alva has revealed the leaders in the multibillion-pound pharma industry when it comes to Equality, Diversity and Inclusion (EDI). Post-pandemic, EDI is becoming a strategic imperative for pharma organisations. Whilst several leading global organisations lead the way with their approach to EDI, some work is still needed from other organisations to shift the focus internally to achieve global diversity aims.

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Pfizer

Pfizer to Acquire Global Blood Therapeutics for $5.4 Billion to Enhance Presence in Rare Hematology

  • Proposed acquisition drives growth by bringing leading sickle cell disease expertise, portfolio and pipeline to Pfizer with potential combined worldwide peak sales of more than $3 billion
  • Potential to address the full spectrum of critical needs in the underserved sickle cell community
  • Transaction valued at $68.50 per Global Blood Therapeutics share in cash, for a total enterprise value of approximately $5.4 billion

NEW YORK & SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) and Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced the companies have entered into a definitive agreement under which Pfizer will acquire GBT, a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities, starting with sickle cell disease (SCD). The acquisition complements and further enhances Pfizer’s more than 30-year heritage in rare hematology and reinforces the company’s commitment to SCD by bringing expertise and a leading portfolio and pipeline with the potential to address the full spectrum of critical needs in this underserved community. Pfizer intends to continue to build on the companies’ shared commitment to and engagement with the SCD community.

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IDRx

IDRx Launches with $122 Million Series A Financing to Treat Cancer with Purpose-Built Precision Combination Therapies

  • IDRx aims to develop precision cancer medicines with a priori engineered, selective combinations to stop key tumor escape mechanisms and prolong response to therapy
  • Pipeline includes small molecule tyrosine kinase inhibitors, IDRX-42 and IDRX-73, designed to inhibit key genetic drivers and resistance mutations of gastrointestinal stromal tumor (GIST)
  • Company is launching at clinical stage with first-in-human study of IDRX-42 initiated
  • Financing led by Andreessen Horowitz (a16z) and Casdin Capital, with participation from Nextech Invest, Forge Life Science Partners and other undisclosed investors

PLYMOUTH, Mass.--(BUSINESS WIRE)--IDRx, Inc., a clinical-stage biopharmaceutical company dedicated to transforming cancer treatment with purpose-built precision combination therapies, launched today with a $122 million oversubscribed Series A financing. The financing was led by Andreessen Horowitz (a16z) and Casdin Capital, with participation from Nextech Invest, Forge Life Science Partners and other undisclosed investors. Inspired by a few curative combination regimens in cancer and the successful drug cocktails engineered in other disease areas such as cystic fibrosis and antivirals, IDRx was incubated by Borisy Labs to address the limitations of today’s precision cancer medicines with highly selective, purposely designed drug combinations to help more patients achieve prolonged, durable responses to therapy earlier in the course of their disease.

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Labcorp

Labcorp to Spin Off Clinical Development Business

  • Clinical Development Business to be a Leading, Pure-Play Contract Research Organization with a Comprehensive Set of Clinical Trial Management, Market Access and Technology Capabilities
  • Labcorp Remains a Leader in the Laboratory Market with Highly Complementary, Laboratory-Focused Businesses including Routine and Esoteric Labs, Central Labs and Early Development Research Labs
  • Transaction Designed to Create Value Through Enhanced Strategic and Operational Focus
  • Labcorp to Discuss Spin-off and Second Quarter 2022 Financial Results at 9:00 a.m. ET Today

BURLINGTON, N.C.--(BUSINESS WIRE)--Jul. 28, 2022-- Labcorp (NYSE: LH) (the “Company”), a leading global life sciences company, today announced that its Board of Directors has authorized the Company to pursue a spin-off of the Company’s wholly owned Clinical Development business to Labcorp shareholders through a tax-free transaction. The planned spin-off will result in two independent, publicly traded companies, each poised for strong, sustainable growth:

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