GlaxoSmithKline, Dupont and Bristol-Myers Squibb vet Douglas Manion, M.D., FRCP(C), has become the new CEO of Kleo Pharmaceuticals.
Manion has most recently served as SVP head of specialty development at BMS and previously headed up virology at the company, as well as holding leadership positions at GSK and Dupont. He takes over from co-founder David Spiegel, M.D., Ph.D., who himself only took the top job last September.
Spiegel, a professor of chemistry and pharmacology at Yale University, now takes on the role of president at Kleo Labs.
The New Haven, Connecticut-based upstart got off its series A last fall, led by Biohaven, although more details on the financing were not shared.
Manion will now head up the biotech’s work in attempting to pioneer a new class of immunotherapies using small molecules to help a patient’s immune system fight against both cancers and infectious diseases.
“Doug brings an incredible wealth of drug discovery and development expertise and experience to the Kleo team,” said Declan Doogan, M.D., chair at Kleo. “Without a doubt, the addition of Doug will further accelerate Kleo’s place as a leader in the field of immunotherapy be it in cancer, infectious diseases or other areas of high unmet medical need.”
“I am thrilled to join Kleo Pharmaceuticals as it accelerates its quest to provide novel immunotherapies for patients with high unmet medical need,” added Manion. “The science is so compelling. I look forward to partnering with the scientists at Kleo led by David Spiegel and the rest of the team, in advancing a truly innovative approach to enlist patients’ own immune systems to fight serious disease.”
By Ben Adams
Source: Fierce Biotech
Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.
The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.
Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.