Welcome to the latest edition of our weekly EuroBiotech Report. As the scythe moves across Bayer’s global workforce, the German pharma is planting seeds in Kendall Square as it hopes to boost its cancer research. Poxel saw its shares jump this week on positive data for its partnered diabetes attempt. Kymab turns to Simon Sturge, formerly of German Merck, to lead the company as moves its antibody work through the clinic. J&J Vision and Edwards are spending millions on new medtech manufacturing sites in Ireland. — Ben Adams
1. Bayer cuts with one hand, adds cancer R&D jobs in Kendall Square with the other
German pharma Bayer is looking to boost its research presence in the life science hub Kendall Square amid a 12,000 global job cull. According to Bayer, speaking to The Boston Globe, it will “significantly expand” its presence in Kendall Square from its current 20 employees in Cambridge, Massachusetts, to an extra 150 within three years.
2. Roivant-backed Merck Serono spinout hits phase 3 diabetes goal; NDA on the horizon
Poxel, a biotech spun out of Germany’s Merck and based in France, and Japanese partner Sumitomo Dainippon Pharma have posted positive data from their late-stage diabetes study in Japan.
3. U.K. biotech Kymab nabs new CEO from Merck KGaA
Kymab has hired on a new CEO, Simon Sturge, to usher the antibody specialist into its next phase of growth. Sturge joins from Merck KGaA, where as an executive vice president he oversaw business development and global strategy and operations. Sturge will take over from David Chiswell, who has been steering the ship since 2015, first as interim CEO before taking on the post full-time.
4. Edwards, J&J Vision aim to expand medtech manufacturing sites in Ireland
Two global medtech companies have made multimillion-euro investments to boost their manufacturing capacity in Ireland, just down the street from each other in Limerick: Edwards Lifesciences and Johnson & Johnson Vision Care.