New hires:

Aeglea BioTherapeutics rebranded to Spyre Therapeutics and made a host of leadership changes. This included naming Cameron Turtle as CEO along with Johnson & Johnson alum Joshua Friedman as SVP of clinical development, Deanna Nguyen as SVP of clinical development, Mira Huyghe as SVP of development operations and Brian Connolly as chief technical officer.

Health tech company Resilient Healthcare appointed Heather Hiles as CFO.

The Bloc, a 2023 MM+M Agency 100 honoree, announced the return of Stephanie Berman as global chief creative officer.

Imre named agency veteran Scott Tucker as its first chief client officer.

Corrina Greenberg, who most recently led New York Public Radio’s philanthropic fundraising efforts, has joined the Ad Council as chief revenue and development officer.

Frazier Life Sciences hired Lauren Mifflin as VP of company creation.

U.K.-based biotech Levicept tabbed Eliot Forster as CEO.

Hale Advisors hired Rebecca Zobbe as head of business development and Hank Conant as creative lead. 

Executive elevations:

The Food and Drug Administration announced it is elevating its chief scientist Namandjé N. Bumpus to replace retiring Janet Woodcock as principal deputy commissioner next year.

Alex Canale was named managing director of uncapped communications, a GCI Group company.

Board appointments:

Johnson & Johnson names Advocate Health CEO Eugene A. Woods to its board of directors.

Vaxcyte added Jacks Lee to its board of directors.

Zealand Pharma appointed Enrique Conterno and Elaine Sullivan as board observers.

Physician consulting service Atropos Health unveiled its life sciences advisory board.

TFF Pharmaceuticals named Catherine Lee, JD to its board of directors.

Departures:

Clinical-stage immunotherapy company PDS Biotechnology said CFO Matthew Hill will step down this week to pursue other professional endeavors and be succeeded by Lars Boesgaard.

Layoffs:

Candel Therapeutics reduced its headcount by about 50%.

Real Chemistry, a 2023 MM+M Agency 100 honoree, eliminated 66 positions, representing 3% of its 2,000-person workforce.

As part of a strategic reorganization, Generation Bio is slated to cut 40% of its workforce.

Orna Therapeutics laid off less than 25% of its staff as part of a “defensive reduction.”

Novocure is laying off 13% of its staff, or around 200 employees, as it cuts $60 million in operating expenses.

Deals:

Avidity Biosciences is expanding its cardiovascular collaboration with Bristol Myers Squibb. As per terms of the deal, Avidity will receive $100 million upfront and has the potential to earn up to $2.2 billion in milestone payments.

Boehringer Ingelheim inked a deal worth up to $509 million with biotech Phenomic AI to develop new targets in stroma-rich cancers, the companies announced Wednesday. 

Johnson & Johnson MedTech completed its purchase of privately-held medical device company Laminar.

Amgen expanded its pact with Amazon to bolster drug manufacturing in the AI age.

Eli Lilly signed a $660 million drug discovery collaboration with Prism BioLabs.

U.K.-based health comms shop Prime bought U.S.-based consulting firm Aventine, which focuses on market access and payer communications.

Biodexa entered into an agreement to buy the exclusive worldwide license to tolimidone, a Phase II-ready medicine for treating type 1 diabetes.

Season Health, an integrated food-as-medicine platform, closed its acquisition of clinical assets from Wellory.

Thermo Fisher Scientific and Flagship Pioneering expanded an ongoing partnership to establish new platform companies utilizing novel tools to boost biotech and life sciences organizations.

Unlock Health acquired SPM Group, a network of healthcare agencies.

Walgreens announced a collaboration with RxSense for a digital marketplace for prescription drug discounts.

Funding rounds: 

Clinical-stage biotech Arvinas raised $350 million in an oversubscribed private placement, extending its cash to 2027.

Verve Therapeutics said it raised about $148 million in a public offering and concurrent private placement.

Arrivo BioVentures closed an oversubscribed $45.25 million Series B preferred financing round, bringing the total raised since the company’s inception to $100 million.

Philadelphia-based Aro Biotherapeutics secured $41.5 million in a Series B financing round.

U.K.-based automated cell manufacturing Mytos raised $19 million in a Series A funding round.

Industry news:

Novo Nordisk announced plans to spend $2.4 billion to expand its French manufacturing which focuses on making GLP-1 products and treatments for other chronic diseases

Xenon Pharmaceuticals said its experimental drug to treat severe major depressive disorder failed to meet the main goal in a mid-stage study.

Novartis raised its sales growth target to 5% per year through 2027.

Autolus Therapeutics submitted a Biologics License Application to the FDA for obe-cel.

Eli Lilly announced plans to open a Gateway Labs location in San Diego during the first half of 2024.

Evoke Pharma’s recently issued U.S. patent related to Gimoti is now listed in the FDA’s Orange Book.

The FDA also approved Pfizer spinout SpringWorks Therapeutics‘ Ogsiveo for treating desmoid tumors.

Roivant Sciences‘ lupus drug failed to reduce symptoms in a mid-stage study.

The FDA rejected Aldeyra Therapeutics’ investigational dry eye treatment, citing the need for an additional clinical trial.

Karuna Therapeutics said the FDA will weigh in on its schizophrenia drug by next September.

Orchard Therapeutics said the FDA granted Fast Track designation to its stem cell gene therapy OTL-203.

See last week’s edition of Rx Rundown.