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Unum Therapeutics concludes Ph 1 ACTR707 programs to promote BOXR1030 program
“Following a detailed review of our operations, opportunities, and cash reserves, we believe the decisions announced today are in the best interests of all Unum stakeholders, including patients, clinicians, employees and shareholders,” said Chuck Wilson, Ph.D., President and Chief Executive Officer of Unum Therapeutics. “We remain committed to addressing the challenges of treating solid tumor cancers, and would like to thank the patients, their families, and the investigators who have made our efforts to date possible. In addition, we would like to thank Seth for his contributions to the preclinical discovery efforts here at Unum over the years and wish him the very best in his next endeavor.”
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Bicycle Therapeutics plc and Genentech to discover, develop and commercialize novel Bicycle®-based immuno-oncology therapies
“Our collaboration with Genentech recognizes the potential of Bicycle’s differentiated technology, which allows us to specifically direct immune cell stimulators and other payloads to tumors in a highly targeted manner,” said Kevin Lee, Ph.D., Chief Executive Officer of Bicycle Therapeutics. “In addition, the flexibility of the Bicycle platform enables rapid exploration of structure-activity relationships to fully optimize candidate molecules. We look forward to working closely with Genentech to pioneer the discovery and development of potential new cutting-edge cancer treatments based on Bicycles.”
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Biogen Exodus
With Aducanumab story nearing climax Biogen sees rapid exodus of executives. Michael Ehler joined Apple Tree partners Limelight Bio joined as CSO in Oct 2019. Daniel Karp, corporate development EVP, also exited as of last week. This week Anirvan Ghosh, Biogen's R&D chief exits for ARCh and Bezos-funded anti-aging biotech. More news here
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M&As this week
The week of March 2 started with Gilead's acquisition of immunotherapy company Forty Seven in a 4.9M dollar deal that saw the market cap going up to ~8B. Analysts remain skeptical about how the M&A will help Gilead in the short run.
Thermo Fisher today (March 3) announced it would buy the dutch diagnostic company Qiagen for 10.1B. With 2 mega acquisitions, the biotech world will probably see more M&As in the next two quarters.
A timely review by LifeScienceVCs Bruce Booth on how M&A can be advantageous to the biotech ecosystem is a fantastic read.
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