BMS’ Cost-Cutting Campaign Claims Collabs With Immatics, Century

 

Bristol Myers Squibb aims to generate around $1.5 billion in savings through 2025—a goal that it hopes to reach by lowering third-party expenditures, focusing only on key growth brands and cutting some 2,200 jobs by year-end.

Bristol Myers Squibb last week revealed that two development partners, Immatics and Century Therapeutics, have become the latest casualties of its sweeping cost-reduction program.

According to an SEC document filed Friday by German biotech Immatics, BMS has elected to back out of two cell therapy contracts “due to ongoing portfolio prioritization efforts,” effective March 12, 2025.

The partnerships in question date back to 2019, when Celgene—which BMS bought for $74 billion that same year—paid $75 million upfront for the right to option three T-cell receptor therapies. If the pharma had decided to license all three assets, the deal had the potential to balloon up to $1.5 billion for Immatics, plus tiered royalties.

According to Immatics’ SEC filing, BMS is now abandoning a June 2022 contract, under which the partners were supposed to work on allogeneic T-cell receptor and/or CAR-T therapies, as well as a May 2023 opt-in agreement related to the 2019 collaboration. The initial collaboration technically “remains ongoing,” according to the German company.

The contract terminations come after the pharma returned a T-cell receptor bispecific molecule to Immatics in September. BMS picked up the solid tumor asset called IMA401 in 2021 for $150 million upfront and the promise of up to $770 million in milestones.

Alongside Immatics, Philadelphia biotech Century Therapeutics on Thursday likewise reported in an SEC filing that BMS has axed its collaboration and license agreement “following an internal corporate portfolio prioritization process.” The termination will also take effect on March 12, 2025.

BMS first started working with Century in January 2022, when it made a $100 million upfront payment and a $50 million equity investment in the biotech. The contract focused on hematologic malignancies using induced pluripotent stem cell-derived engineered natural killer cell and/or gamma delta T-cell therapies.

Century could have received more than $3 billion in development, regulatory and commercial milestones across all four programs, plus tiered royalties on global net sales.

BMS is axing the Immatics and Century partnerships amid its ongoing “strategic productivity initiative,” first announced with its first-quarter 2024 report in April. The pharma is looking to save around $1.5 billion through 2025 and has put around 2,200 jobs on the chopping block by year-end and will reduce management layers.

The pharma at the time also said it will focus resources on key growth brands while also minimizing third-party expenditures.

https://www.biospace.com/business/bms-cost-cutting-campaign-claims-collabs-with-immatics-century

Emergent $50 M Contract Option from BARDA to Procure Doses of Anthrax Vaccine

 Emergent BioSolutions Inc. (NYSE: EBS) today announced that the Biomedical Advanced Research and Development Authority (BARDA) within the Administration for Strategic Preparedness and Response (ASPR) at the U.S. Department of Health and Human Services has awarded a $50 million option to Emergent’s existing contract (HHSO100201600030C) for the acquisition of CYFENDUS® (Anthrax Vaccine Adsorbed, Adjuvanted).

Deliveries are expected to begin this calendar year and be complete by April 2025. This award follows a previously announced contract modification of $30.0 million to supply CYFENDUS® (Anthrax Vaccine Adsorbed, Adjuvanted) this year.

https://www.globenewswire.com/news-release/2024/12/16/2997495/33240/en/Emergent-BioSolutions-Receives-50-Million-Contract-Option-from-BARDA-to-Procure-Doses-of-CYFENDUS-Anthrax-Vaccine-Adsorbed-Adjuvanted.html

Viridian Bests Amgen In Thyroid Eye Disease

 Viridian Therapeutics (VRDN) stock popped Monday after the biotech company scored a win in thyroid eye disease, a condition that causes the eyes to swell.

After 15 weeks, 56% of patients saw an improvement in proptosis, or eye swelling. This beat out the 8% response rate in the placebo group and was in line with expectations for a 52% to 62% response rate, RBC Capital Markets analyst Gregory Renza said in a report.

Further, 56% of patients who received Viridian's veligrotug had improvement in diplopia, or double vision. Nearly a third of patients, 32%, experienced complete resolution of diplopia. In comparison just 25% of placebo patients showed any diplopia improvement and 14% has complete resolution.

The results compare favorably to Amgen's (AMGN) Tepezza, analysts said. In clinical testing, Tepezza didn't lead to any improvement in diplopia.

"Meaningful improvement in diplopia adds a key differentiator to Veli' over Tepezza, which we believe will shift the narrative from achieving an as-good profile to having a superior profile, in chronic TED patients," Renza said.

https://www.investors.com/news/technology/viridian-therapeutics-chronic-thyroid-eye-diease-amgen-tepezza/

'Congress Scrambles To Avoid Friday Government Shutdown'

 Congress has until Friday to avert yet another government shutdown with a game of kick-the-can (via Continuing Resolution, or CR), and a bipartisan funding deal is nowhere in sight.

Here's where things stand; though no one expects the lights to actually go out in Washington, this week is shaping up to be a political circus.

According to House Speaker Mike Johnson (R-LA), a CR is "moving along, almost there," while Rep. Steve Scalise (R-LA) said "it's getting close to being closed out," and "hopefully" we'll see text today, Punchbowl News' Jake Sherman reports.

Farm Bill Face-Off

The latest snag? A fight over economic assistance for farmers as part of a one-year extension to the farm bill. Originally, this was supposed to be a straightforward swap: redirect some Inflation Reduction Act (IRA) funds toward direct aid for farmers. But Johnson slammed the brakes, wary of touching IRA funds and ruffling feathers with President-elect Donald Trump, who has made dismantling the legislation a priority.

Sensing blood in the water, Democrats pounced. House Minority Leader Hakeem Jeffries (D-NY) and Senate Majority Leader Chuck Schumer (D-NY) rolled out a wishlist of demands in exchange for their cooperation, including:

– The federal government would pay 100% of the cost of rebuilding the Francis Scott Key Bridge in Baltimore. This could run to $2 billion or more.

– A trade deal that would allow duty-free access for Haitian apparel and textile imports.

– Reauthorization of the African Growth and Opportunity Act, which permits duty-free imports for hundreds of products from sub-Saharan African countries.

– Funding to build museums on the National Mall to honor women and Hispanics.

– The Second Chance Act, which aims to help the reentry of convicted criminals back into communities. -Punchbowl News

Also hanging in the balance is a sweeping health deal that would overhaul pharmacy benefit managers, extend Medicare telehealth flexibilities, and reauthorize the SUPPORT Act - a 2018 measure to address the opioid crisis. The pressure is on for Johnson to strike a deal, but he’s caught between pleasing Democrats and keeping his own party in line.

Running out of time

Johnson is running out of time to act... If Congress plans to release the funding bill today, the House won’t vote until Thursday, sticking to a 72-hour review rule. That leaves the Senate just enough time to pull off some of its famous "magic" and send the package to President Biden’s desk before the buzzer.

But Johnson’s problems go beyond logistics. He’s made it his mission to avoid the usual end-of-year “Christmas tree” legislation loaded with pork. Now, he’s staring down a continuing resolution (CR) that funds the government only until March, packed with goodies from every corner of Capitol Hill.

Johnson is banking on Democrats to help push the CR through, but the move could spark a rebellion among House Republicans. Expect fiery floor speeches and plenty of finger-pointing as Johnson fights to keep his party—and his speakership—intact.

Meanwhile, Senate Republicans and Trump have little appetite for a shutdown, preferring a smooth path into 2025.

https://www.zerohedge.com/political/congress-scrambles-avoid-friday-government-shutdown

T2 in Multi-Year Capital Equipment Supplier Agreement with Vizient

  T2 Biosystems, Inc. (NASDAQ: TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced that its multi-year capital equipment supplier agreement with Vizient, Inc., the largest member-driven health care performance improvement company in the United States, has been extended through March 31, 2026. The products covered under the contract with Vizient include the T2Dx® Instrument, the T2Bacteria® Panel and the T2Candida® Panel, which detect sepsis-causing bacterial and fungal pathogens directly from whole blood.

https://www.globenewswire.com/news-release/2024/12/16/2997568/32489/en/T2-Biosystems-Announces-Extension-of-Multi-Year-Capital-Equipment-Supplier-Agreement-with-Vizient-Inc.html

PepGen Clinical Hold in U.S. on IND Application for Phase 2 Study for Duchenne

 

-Company continues to advance PGN-EDO51 in CONNECT1-EDO51, with the 10 mg/kg cohort now fully enrolled-

PepGen Inc. (Nasdaq: PEPG), a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapies with the goal of transforming the treatment of severe neuromuscular and neurological diseases, today announced that the Company received a clinical hold notice from the U.S. Food and Drug Administration (FDA) regarding its Investigational New Drug (IND) application to initiate the CONNECT2-EDO51 clinical trial in patients with Duchenne muscular dystrophy (DMD). The FDA indicated they will provide an official clinical hold letter to the Company within 30 days.

https://www.businesswire.com/news/home/20241216162092/en/

Daniel Baldwin Claims There Are "Bidding Wars" In Hollywood Over Diddy Blackmail Sex Tapes

 by Steve Watson via Modernity.news,

Actor Daniel Baldwin has made extraordinary claims that Hollywood stars are involved in “bidding wars” to prevent copies of blackmail sex tapes filmed at the infamous Sean “Diddy” Combs’ freak off parties from falling into the wrong hands.

Appearing on the PBD podcast, Baldwin stated “He has videos of the parties… I’ve heard from friends that are attorneys… there’s a bidding war going on right now.”

The brother of Alec Baldwin continued, “They’re driving that price up because if you want your client and your famous actor to not be involved, a famous singer to not come out, here’s the price, and that they’re just selling to the individuals that are in those.”

“This is what I heard. They’re selling those videos,” he reiterated, claiming that some celebrities are buying them to try to save their own skins.

Baldwin compared the Diddy situation to Jeffrey Epstein’s alleged recordings of elites engaged in incriminating sex acts.

Watch:

Here’s the full podcast episode:

As we previously highlighted, a former bodyguard of Combs has claimed that the rapper has footage of not only celebrities, but elite politicians and state figures engaging in compromising activities.

The bodyguard, Gene Deal, says the secret footage was captured at Diddy’s various so called “freak off” parties, which are claimed to have involved victims being forced to engage in sex acts while Combs masturbated and recorded the events.

“I don’t think it’s only celebrities gonna be shook. He had politicians in there, he had princes in there. He also had a couple of preachers in there,” said Deal, adding that “he had every room bugged.”

One alleged victim of Combs has filed a lawsuit claiming that the rapper raped her when she was 13 years old while a male and female celebrity pair watched and joined in.

The suit claims that the male celebrity also raped her while the female and Diddy observed.

It has since been alleged by the victim that Jay Z was the male celebrity, a claim which the rapper vehemently denies. Attorneys for Jay z have called for the case to be dismissed on the grounds of inconsistencies in the testimony of the alleged victim.

Another witness in the ongoing case claims he has several sex tapes that allegedly feature “intoxicated” and “victimized” celebrities, including two who were underage.

During an interview with NewsNation, Courtney Burgess, who testified against Combs before a grand jury in Manhattan, claimed that he has in his possession flash drives featuring videos of eight celebrities with Diddy.

Since his indictment in New York, more than two dozen civil lawsuits have been filed against Combs, and if convicted, he could face a sentence of anywhere from 15 years to life in prison.

Combs has been denied bail twice on charges of racketeering, sex trafficking and transportation to engage in prostitution.

He remains in custody at the Metropolitan Detention Center in Brooklyn, and has repeatedly denied all allegations against him.

The trial is scheduled to begin on May 5, 2025.

*  *  *

https://www.zerohedge.com/personal-finance/daniel-baldwin-claims-there-are-bidding-wars-hollywood-over-diddy-blackmail-sex