Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with news of departures from two biotechs. The week began with Zealand Pharma revealing Andrew Parker is set to step down as chief scientific officer. Days later, Adaptimmune disclosed that Rafael Amado, its R&D chief, has handed in his notice, leaving it searching for a chief medical officer at a key moment for its pipeline. Elsewhere, Wellington Partners raised a €210 million ($234 million) fund. Gilead framed its deal with Galapagos as a way to double its research capacity. Neil Woodford revealed the suspension of trading in his flagship fund is set to continue into December. And more. — Nick Taylor
1. Zealand Pharma CSO quits to take up another biotech post
Andrew Parker is set to step down as chief scientific officer of Zealand Pharma at the end of next month. Parker gave his notice after receiving an offer from another biotech, leaving Zealand to search for a new CSO.
2. Adaptimmune R&D chief leaves at dawn of critical trial
Rafael Amado has handed in his notice at Adaptimmune. The R&D chief is set to leave Adaptimmune in less than two weeks, triggering a search for a new clinical leader.
3. Wellington raises €210M fund to back European biotechs
Wellington Partners has raised a €210 million ($234 million) life science fund to back biotechs in German-speaking parts of Europe and beyond. The fund sets Wellington up to invest in 15 to 20 drug development and medical device companies.
4. Gilead looks to Galapagos deal to double research capacity
Daniel O’Day has framed Gilead Sciences' $5.1 billion (€4.6 billion) megadeal with Galapagos as a way to double its research capacity. The Gilead CEO told investors his company will benefit from having two drug discovery operations feeding into its clinical-phase pipeline.
5. Suspension of Woodford fund set to continue until December
The suspension of trading in Neil Woodford’s flagship fund is set to continue until December. News of the suspension extension emerged shorty after Woodford Patient Capital Trust said it is considering a change of management.
And more articles of note>>