Avidity Biosciences Announces Changes to its Board of Directors
Tamar Thompson and Jean Kim appointed to Board of Directors replacing Todd Brady and Michael Martin
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LA JOLLA, Calif., Jan. 11, 2021 /PRNewswire/ Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs
™), today announced the appointment of experienced health policy strategist, Tamar Thompson and recognized healthcare investment partner, Jean Kim, to its Board of Directors, who are replacing Todd Brady and Michael Martin. Avidity also announced that Troy Wilson has transitioned from Executive Chairman to Chairman.
MedCity News
Terns raises $87M to advance trials of NASH drugs
The startup, which licensed three NASH candidates from Eli Lilly, raised $87 million from the drugmaker and Deerfield Management.
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After gaining a big backer in Eli Lilly & Co. two years ago, Terns Pharmaceuticals now has two NASH candidates in clinical trials. The startup, headquartered in Foster City, Calif., recently raised $87 million to push forward in a competitive market.
Currently, no drugs have been approved by the FDA for nonalcoholic steatohepatitis a form of fatty liver disease that can cause inflammation, and over the long term, can lead to scarring of the liver. After the Food and Drug Administration turned down a long-anticipated NASH drug from Intercept Pharmaceuticals, and Genfit’s candidate flopped in phase III clinical trials, the field is open for the competition.
Neomorph, Inc., a San Diego, CA-based biotechnology company, raised $109m in Series A financing.
The company intends to use the funds to further develop its platform, advance lead programs, and expand the research team.
Deerfield Management Company established Neomorph earlier this year with scientific founders Phil Chamberlain, DPhil; Eric Fischer, PhD; Benjamin Ebert, MD, PhD; and Scott Armstrong, MD, PhD.
The company is building a protein degradation entity, focused on “molecular glue” degraders. Targeted protein degradation offers opportunities to develop novel therapeutics across a broad range of disease areas, including oncology.
Led by Dr. Chamberlain as President and Chief Scientific Officer, the company has recruited:
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