Chondrial bags a $22M A round for mitochondrial R&D; Ariad filed marketing app for brigatinib

2017-02-06

• Deerfield has taken the lead on a $22.6 million Series A for Chondrial Therapeutics, a Bala Cynwyd, PA-based biotech with a focus on rare mitochondrial diseases. The biotech in-licensed CTI-1601 for the treatment of Friedreich’s Ataxia from Indiana University Research and Technology Corp. and Wake Forest University Health Sciences. Carole Ben-Maimon was named CEO. • Ariad says that it has submitted a marketing application for brigatinib with the EMA. The cancer drug, which figured prominently in Takeda’s $5.2 billion buyout deal, is already under review at the FDA, where it faces an April 29 PDUFA date. • Abandoned by one of its top investors with its stock mired in penny stock territory, Northwest Bio $NWBO today said that the FDA had lifted the partial hold on DCVax-L for glioblastoma. In a trial update the biotech added that it had passed the goal set on progression-free survival but will take several more months to get past the number of deaths needed to assess overall survival. Emma Walmsley • Andrew Witty has had a hard time stirring excitement for GlaxoSmithKline’s pipeline, but he says new CEO Emma Walmsley will have data coming in from 25 products over the next two years. “The big value generator for the company is going to be getting a decent yield from that dataset and then making exquisitely good decisions about prioritization,” Witty told Reuters.

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