Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Food, Pharmaceuticals & Bioengineering!
BASF plans job cuts amid weakened demand for chemicals
BASF will eliminate 6,000 employees, or 5% of its global workforce, citing declining demand. The cuts will likely save BASF $341 million and support CEO Martin Brudermueller's plan to streamline the company and hike up earnings by a minimum of $2 billion.
Adaptive Biotechnologies upsizes IPO to $300M
An initial public offering of 15 million shares has been upsized by Adaptive Biotechnologies in hopes of raising $300 million in gross proceeds. The company, which markets genetic immunosequencing tests for disease diagnosis and treatment, increased the price of shares from the revised $18-to-$19 range to $20 and offers an over-allotment option for underwriters to buy 2.25 million more common shares.
AbbVie diversifies portfolio with Allergan purchase
AbbVie will purchase rival Allergan, which makes Botox, in a $63 billion deal that will help AbbVie diversify beyond its blockbuster Humira.
Mass. startup now uses ethanol byproduct as feedstock
Massachusetts-based KnipBio has swapped out methanol in favor of ethanol byproduct condensed distillers' solubles as its feedstock to generate its single-cell protein aquafeed ingredient. The feed ingredient startup said the new feedstock increases production flexibility and generates a product that is similar to the earlier formulation.
FDA approves Avastin biosimilar from Pfizer
The FDA has approved Pfizer's biosimilar version of Roche's Avastin for five oncology indications, Pfizer said. The drug is called Zirabev.
Timeline to first-in-child trials of FDA-approved cancer drugs examined
Researchers found that the median gap between first-in-human and first-in-child clinical trials for FDA-approved cancer drugs was 6.5 years. Of the 117 oncology drugs slated for final analysis by the FDA, 15 have yet to reach the first-in-children clinical trial stage, and five of those target acute lymphoblastic leukemia, according to the study in the European Journal of Cancer.
Preliminary data show gene therapy beneficial to hemophilia A patients
Updated preliminary follow-up data from the Phase I/II trial assessing the gene therapy candidate SB-525, being jointly developed by Pfizer and Sangamo Therapeutics, shows clinically relevant and stable improvements in eight patients with hemophilia A, who subsequently experienced a notably reduced need for replacement therapy. A presentation of the new data will be made during the 2019 Congress of the International Society on Thrombosis and Haemostasis.
Biohub to collaborate on global infectious disease sequencing studies
The Chan Zuckerberg Biohub, supported by financing from the Bill and Melinda Gates Foundation, will fund studies that will advance infectious disease metagenomic sequencing in 10 international countries. The Biohub has developed an open-source, cloud-based pipeline called ID-seq used for pathogen detection and surveillance.
Krystal Biotech touts efficacy of wound closure gene therapy candidate
KB103, Krystal Biotech's lead gene therapy for recessive dystrophic epidermolysis bullosa, exhibited efficacy in healing wounds caused by the disorder after it reported full closure of five lesions by the 90th day after treatment based on data from its Phase I/II GEM trial. Krystal also disclosed that KB103 has been granted a regenerative medicine advanced therapy designation by the FDA.
FDA: Regulation would help, not hinder, livestock producers
The National Pork Producers Council has spoken out against FDA regulation of the use of genome editing in livestock, implying that the agency would serve as a roadblock to progress. FDA Deputy Commissioner for Policy Legislation and International Affairs Anna Abram says that the FDA does not treat biotech animals as drugs but instead "evaluates intentional genomic [alterations] in animals based upon the risk they pose to the animal and human health" in order to make the best use of the technology and bolster commercial and consumer confidence.
FDA proposal would allow DMF use for transitioning biologics
A proposed rule from the FDA would permit some biologics to continue including key drug-related information in drug master files, even after their new drug applications are deemed as biological product licenses in March 2020. The proposal seeks "to provide clarity and predictability, and minimize burden for transitioning products -- without compromising the quality, safety or efficacy of the products," said Ned Sharpless, acting FDA Commissioner.
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