EuroBiotech Report—GSK R&D update, Medicxi's €400M fund and Intec fails phase 3

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Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with a flurry of updates on GlaxoSmithKline, which used its second-quarter results to tell investors about Chief Scientific Officer Hal Barron’s efforts to revitalize the pipeline. The updates showed oncology drugs and “smart risks” are in at GSK. Respiratory programs and conservative, consensus-based decision-making are out. Elsewhere, Medicxi, which has previously raised money from GSK, unveiled a new €400 million ($448 million) fund. Johnson & Johnson and Novartis were the cornerstone strategic investors in the fund. Intec Pharma’s Parkinson’s disease candidate failed a phase 3 trial. And more. — Nick Taylor
1. Barron exhorts GSK scientists to take 'smart risks'

Hal Barron has detailed efforts to embolden GlaxoSmithKline scientists to take “smart risks” when developing drugs. The culture change is part of an effort to stop the fear of failure from pushing GSK researchers to make conservative decisions. 
2. GSK drops lung injury drugs as respiratory clear-out continues

GlaxoSmithKline has terminated 11 projects over the past 12 months. The respiratory franchise bore the brunt of the cuts at a time when some GSK staff were questioning the wisdom of investing in the field.
3. GSK’s cancer pipeline doubles as Barron's plan takes effect

Hal Barron has talked up the progress of his effort to rebuild GlaxoSmithKline’s cancer pipeline. The clinical oncology pipeline now features 17 assets, setting GSK up to run a range of monotherapy and combination studies. 
4. J&J, Novartis help Medicxi raise €400M biopharma fund

Medicxi has raised a €400 million ($448 million) biopharma investment fund. Johnson & Johnson and Novartis pumped money into the fund as cornerstone strategic investors, helping Medicxi wrap up fundraising in record time.
5. Intec flunks phase 3 Parkinson's test against Merck drug

A phase 3 trial of Intec Pharma’s Parkinson's disease drug has missed its primary endpoint, sparking a steep decline in the company’s stock. The candidate uses a drug delivery system designed to improve on Merck’s Sinemet but was unable to beat the established product in a late-phase test.
And more articles of note>>