Fierce Biotech

  1. Eli Lilly is closing down its U.K.-based Erl Wood neuroscience in Surrey, leading to cuts and relocations.
  2. After being hailed as a near mystic when it came to stock picks, Britain’s once great oak has been cut down to a sapling as Neil Woodford gets the ax and his eponymous fund is cut up.
  3. Abalos Therapeutics has raised €12 million ($13 million) to discover and develop cancer drugs based on an arenavirus strain. The series A round sets Abalos up to generate anti-tumoral virus strains and take them toward testing in humans. 
  4. A phase 2 trial of Reata Pharmaceuticals’ omaveloxolone in patients with Friedreich’s ataxia has met its primary endpoint. The positive result, which surprised analysts, tees Reata up to file for FDA approval of the activator of Nrf2 and expand development to other neurodegenerative diseases. 
  5. Next-gen cancer biotech Checkmate Pharmaceuticals has grabbed a new chief medical officer after a year of C-suite shuffles.