Sector News

Mirati’s Charles Baum takes the helm at Terremoto Biosciences

July 27, 2024
Life sciences

Charles Baum, M.D., Ph.D., who oversaw Mirati Therapeutics’ $5.8 billion sale to Bristol Myers Squibb last year, is taking the helm of young biotech Terremoto Biosciences.

Baum’s “extensive experience in drug development, and proven track record in advancing high-impact medicines, will be instrumental,” outgoing CEO Peter Thompson, M.D., said in a July 25 release. Thompson will retain his seat as board chairperson.

Baum, a trained physician-scientist, was the founder, president and CEO of oncology-focused Mirati. Before that, he helped develop cancer drugs at Pfizer and Schering-Plough.

Now, Baum will serve as CEO at Terremoto, a company developing small molecules to target disease-causing proteins—like those found in cancerous tumor cells—using covalent bonds. Existing therapies that use covalent bonds primarily target the amino acid cysteine. However, of the 20 amino acids that make up proteins, cysteine is the least common. Terremoto is instead targeting one of the essential amino acids, lysine, which is found in almost all proteins.

By targeting lysine and other amino acids, Terremoto hopes to treat previously undruggable diseases and create first-in-class medicines.

The biotech, based in South San Francisco, raised $75 million in series A funding in 2022. A little more than a year later, the biotech more than doubled that number in a $175 million series B.

By Darren Incorvaia

Source: fiercebiotech.com

comments closed

Related News

February 7, 2025

Trump’s tariffs could strain medicine supply and drive drug costs

Life sciences

The last few days have been a rollercoaster for the pharmaceutical industry. Mexico and Canada were bracing themselves for the effects of double-digit tariffs from the US, only for President Donald Trump to pause the levies after striking a deal with the two countries.

February 7, 2025

BD announces intent to separate Biosciences and Diagnostic Solutions business

Life sciences

BD (Becton, Dickinson and Company), a leading global medical technology company, announced its board of directors has unanimously authorized BD management to pursue a plan to separate BD’s Biosciences and Diagnostic Solutions business from the rest of BD to enhance strategic focus and growth-oriented investments and capital allocation.

February 7, 2025

Jabil acquires CDMO Pharmaceutics International

Life sciences

Jabil, a global provider of engineering, manufacturing, and supply chain solutions, has acquired Pharmaceutics International (Pii), a US contract development and manufacturing organization (CDMO) specializing in early-stage, clinical, and commercial volume aseptic filling, lyophilization, and oral solid dose manufacturing.

How can we help you?

We're easy to reach