Weekly Quick Hits (Philly) – Week of July 3, 2023
Even with the Independence Day Holiday, Philadelphia’s regional life sciences ecosystem had a number of stories. Here’s a look.
By Mark Terry
July 7, 2023
| Quick Hits is BioBuzz’s weekly round up of all the life science news you don’t want to miss, in your region of interest. Don’t miss a beat; SUBSCRIBE to our weekly Quick Hits newsletter via LinkedIn (BioHealth Capital Region, Greater Philadelphia, Research Triangle Park) or get it delivered to your inbox every week. |
Funding, Awards and Collaborations
Agile Targeting $25 to $30 Million Net Revenue by End of 2023
Princeton, NJ-based Agile Therapeutics raised $7.5 million in an IPO in May, shortly after it demonstrated increased demand for its low-dose birth control patch, Twirla. The company now is projecting $25 to $30 million net revenue by the end of the year, up dramatically from its $3.8 million in revenues reported in the first quarter.
STRATA Secures Another $12 Million Financing
Horsham, Pa.-based STRATA Skin Sciences completed the refinancing of its existing debt agreement with a new facility from MidCap Financial. The new facility is a refinancing of the existing $8.0 million term loan and an additional $7.0 million tranche funded at closing. It also has the option for an additional $5 million tranche in 2024.
Wistar Announces Apprenticeship Applications Due July 31
The Wistar Institute’s Quality Science Pathway Apprenticeship applications for 2023-2024 are due by July 31. Participants in the apprenticeship complete three industry-developed courses: Global Regulatory Requirements of Quality; Product Development and Validation; and Risk Failure Analysis.
In the Clinic
Janssen Reported Positive Topline Results for Psoriasis Study
The Janssen Pharmaceutical Companies of Johnson & Johnson (Spring House, Pa.) announced positive topline results from its Phase IIb FRONTIER 1 clinical trial of JNJ-2113 in adults with moderate-to-severe plaque psoriasis. The drug is the first and only oral interleukin-23 receptor (IL-23R) antagonist peptide.
AstraZeneca and Daiichi Sankyo’s Dato-DXd Hits Mark in Lung Cancer
AstraZeneca, with U.S. offices in Wilmington, Del., with Daiichi Sankyo, reported positive high-level results from the TROPION-Lung01 Phase III trial of datopotamab deruxtecan (Dato-DXd) in locally advanced or metastatic non-small cell lung cancer (NSCLC) patients treated with at least one prior therapy. The drug showed a statistically significant improvement for the dual primary endpoint of progression-free survival (PFS) compared to docetaxel, the current standard of care chemotherapy.
Research Roundup
Temple Research: $754,000 NIH Grant for Web-Based HIV Prevention App
Sarah Bauerle Bass, PhD, Professor of Public Health in Social and Behavioral Sciences and director of the Risk Communication Laboratory at Temple University, received a three-year $754,000 grant to develop and pilot test a new web-based app that improves HIV prevention and substance use treatment access for incarcerated women in Philadelphia. Bass’s team includes Steven Belenko, PhD, Professor of Criminal Justice and Jingwei Wu, PhD, Associate Professor in Epidemiology and Biostatistics, and University of Pittsburgh faculty member Emily Dauria, PhD.
On the Hill – Regulatory and Advocacy
Olympus Updates Labeling for Bronchoscopes Used with Laser Therapy Equipment
Center Valley, Pa.-based Olympus Corporation of the Americas issued a voluntary field corrective action to address complaints of endobronchial combustion when laser-compatible bronchoscopes are used in combination with laser therapy equipment for argon plasma coagulation. It is not a removal action. A total of 32 BF series endoscope models are included in the action globally.
