Biotech Hoping ‘Small Molecule’ Drugs Lead To Several Disease Breakthroughs
The venture creation firm behind Moderna has launched a new startup called Empress Therapeutics. The new biotech arrives at a time when financiers are changing which types of drug companies they invest as a result of the Inflation Reduction Act.
The Boston Globe:
Flagship Pioneering Unveils New Biotech Focused On ‘Small Molecule’ Drugs
The venture capital firm behind the coronavirus vaccine maker Moderna on Wednesday unveiled a new Cambridge biotech called Empress Therapeutics, a small startup that says it has created 15 drug molecules in less than two years and hopes to test them on a wide range of diseases. (Saltzman, 6/21)
Stat:
Flagship Launches Small Molecule Startup, Despite IRA’s Shadow
It’s been nearly a year since Congress passed the Inflation Reduction Act, raising a chorus of drug executive and investor complaints that it would decimate the development of small-molecule medicines. After all, it opens the door for Medicare to negotiate the price of small-molecule drugs after nine years on the market (as opposed to 13 years for biologic drugs like vaccines, cell therapies, or gene therapies). But the law hasn’t brought a total halt to all such drug development — at least, not yet. (DeAngelis, 6/21)
In news about the opioid crisis —
Keene Sentinel:
Cheshire Medical Center To Pay $2 Million Fine In Fentanyl Case
Cheshire Medical Center will pay $2 million in connection with the months-long incident where gallons of fentanyl solution were lost or unaccounted for at the Keene hospital. "Cheshire Medical Center’s failure to fulfill its obligations under the Controlled Substance Act enabled the theft of prescription narcotics — including powerful opioids such as fentanyl, which led to a shockingly high percentage of drugs missing from CMS’s inventory. The failures uncovered warranted a multi-million-dollar penalty and a stringent corrective action plan," U.S. Attorney Jane Young said in a news release Wednesday from the Department of Justice announcing the settlement. (Belanger, 6/21)
Houston Chronicle:
Houston Opioid Program Uses Pharmaceutical Settlement Funds
Millions of settlement dollars from pharmaceutical companies will go to Houston programs addressing the health impact of opioids. Since 2021, Texas has secured more than $150 million in legal settlements from opioid manufacturers, pharmaceutical distributors and other companies over their alleged role in fueling the opioid crisis in the United States. Some of the money from these settlements is now reaching cities and counties throughout Texas to bolster their public health programs. (Cheng, 6/21)
The New York Times:
New Fentanyl Laws Ignite Debate Over Combating Overdose Crisis
Approaches to drug addiction have evolved in recent years, with both states and the federal government allocating more funds for treatment and prevention. The Biden administration has embraced the concept of “harm reduction” — the short-range goal of making drugs less dangerous for users. The Food and Drug Administration has approved an overdose reversal medication, Narcan, for purchase over the counter. But to many public health experts, the tough new fentanyl laws seem like a replay of the war-on-drugs sentencing era of the 1980s and ’90s that responded to crack and powder cocaine. They worry the result will be similar: The incarcerated will be mostly low-level dealers, particularly people of color, who may be selling to support their addictions. (Hoffman, 6/21)
AP:
Tel Aviv University Removes Sackler Family, Makers Of OxyContin, From Medical School's Full Name
Tel Aviv University announced on Wednesday that it has removed the Sackler family from the full name of its medical school after decades of donations from the makers of OxyContin. ... The Sacklers have been donors to the university for 50 years, it said. (6/21)
