Bio Roundup: Goodbye Belviq, LogicBio on Hold, Revolution’s IPO & More
Summary
—The FDA asked Eisai to remove weight-loss drug lorcaserin from the market after a post-marketing study showed a higher incidence of cancer in the group given the pill compared to those who received a placebo. —Wave Life Sciences is laying off approximately 22 percent of its staff in a corporate restructuring stemming from the Phase 1 failure of the company’s Duchenne muscular dystrophy drug candidate. —Eli Lilly (NYSE: LLY) and partner Incyte (NASDAQ: INCY) announced preliminary results showing that their drug, baricitinib (Olumiant), succeeded in a Phase 3 study testing it in patients with moderate-to-severe atopic dermatitis. —Ligand Pharmaceuticals (NASDAQ: LGND) of San Diego agreed to pay Icagen $15 million up front to acquire its drug discovery assets and partnered programs in neurological diseases and cystic fibrosis. —Medtronic (NYSE: MDT) spent an unspecified amount to acquire Digital Surgery, a privately held company that is applying artificial intelligence and data analytics to surgical training and practice.
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