Pharma & Biotech
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Warrington’s Windtree Therapeutics Faces Uncertain Future After NASDAQ Delisting
Warrington-based Windtree Therapeutics faces an uncertain future after being delisted from the NASDAQ stock exchange last week, writes John George for the Philadelphia Business Journal. The company has issued a “going concern” notice, indicating it may have to cease operations. Windtree has attempted to diversify its revenue stream in recent months, venturing into residential real…
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Two Pharma Companies Partner to Open Dedicated OSD Form Suite in Sellersville
Piramal Pharma Solutions and NewAmsterdam Pharma Company will be opening a dedicated oral solid dosage form suite at Piramal’s facility in Sellersville. The Sellersville site is one of Piramal Pharma Solutions’ focused drug product facilities offering comprehensive development and manufacturing services for a variety of formulations, including various oral solid dosages. The new suite will…
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Minaris Advanced Therapies CEO Talks Navy Yard Life Sciences Firm’s Long-Term Vision
Orla Cloak, Ph.D., the newly-appointed CEO of Minaris Advanced Therapies at the Philadelphia Navy Yard, recently discussed the firm’s plans to refine its long-term strategy, writes John George for the Philadelphia Business Journal. Dr. Cloak joins the company with 20 years of commercial leadership experiences within the life sciences industry. Minaris Advanced Therapies was established…
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Doylestown’s Pennsylvania Biotech Center Recruits Hepatitis C Cure Inventor
Michael J. Sofia, the inventor of the Hepatitis C cure, has joined the Pennsylvania Biotechnology Center in Doylestown, working towards a cure for Hepatitis B, writes John George for the Philadelphia Business Journal. Sofia will be the distinguished professor and principal investigator at the Bucks County biotech center, a life sciences incubator and educational hub…
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From Newtown Garage to Global: Gentell’s Growth in Wound Care Innovation
Founded by David Navazio in his Bucks County garage, Newtown-based Gentell has become a global wound-care manufacturer with production facilities on several continents, writes Joseph N. DiStefano for The Philadelphia Inquirer. In 1982, Navazio left his accounting program at La Salle University to sell medical equipment, eventually seeking products he could develop and market on…
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New Hope’s Orchestra BioMed Raises $111M to Advance Its Heart Care Technologies
Orchestra BioMed, based in New Hope, successfully raised $111 million in just five days to support the advancement of two of its flagship technologies focused on heart care, writes John George for the Philadelphia Business Journal. The biomedical company closed a $40 million public stock offering on Tuesday, building on $71 million in new capital…
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West Conshohocken’s Madrigal Pharmaceuticals Gets FDA Green Light
West Conshohocken’s Madrigal Pharmaceuticals earned a major win with the FDA approval of its first commercial product, reports John George for the Philadelphia Business Journal. Rezdiffra, a treatment for NASH or nonalcoholic steatohepatitis, is the first therapy cleared for the U.S for this condition, which affects millions of Americans. With the FDA’s green light, Madrigal…
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GSK Partners with Chinese Pharma Co. in $500M Deal
Pharma giant Glaxosmithkline, which has major operations in Upper Providence and West Point, is partnering with China-based Hengrui Pharma, writes the company in a press release. The $500 million collaboration unlocks the potential for up to 12 new treatments, bolstering GSK’s pipeline well beyond 2031. The partnership will put a strong focus on respiratory diseases,…
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Warrington’s Windtree Therapeutics Signs Cryptocurrency Deal Worth Up To $200M
After expanding into real estate and waste management in its search for new revenue opportunities to boost stock value, Warrington-based Windtree Therapeutics has entered a potential $200 million cryptocurrency deal, writes John George for the Philadelphia Business Journal. Stockpiling digital currencies to increase stock value is an emerging trend among public companies, including video game…
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Northeast Philadelphia’s PCI Pharma Services Receives Massive Investment, Now Valued At $10B
PCI Pharma Services, the Northeast Philadelphia-based contract development and manufacturing company has received a multibillion-dollar investment that now values the company at $10 billion, writes Ryan Sharrow for the Philadelphia Business Journal. The new investment was co-led by two private equity firms: Bain Capital and Kohlberg. The latter has previously invested in PCI Pharma, while…
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Glaxosmithkline Gets Approval for First-of-its-Kind Lupus Treatment
Glaxosmithkline, with multiple operations in Montco, just scored a major regulatory win that could reshape how lupus nephritis is treated in children, writes Neha Gupta for Insider Monkey. Late last month, the FDA approved the company’s 200 mg/mL autoinjector of Benlysta for pediatric patients as young as five, marking the first at-home treatment options for…
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Warminster Biopharma Firm Ends $285M Licensing Deal with Chinese Company
Warminster-based Arbutus Biopharma has ended a 4-year licensing deal worth up to $285 million with Qilu Pharmaceuticals, a Chinese drugmaker, writes John George for the Philadelphia Business Journal. The deal granted Qilu rights to imdusiran, an experimental therapy Arbutus is developing as a potential cure for chronic hepatitis B. These rights cover mainland China, Hong…
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Warrington’s Windtree Therapeutics Acquires Waste Management Company
Warrington-based Windtree Therapeutics continues to diversify its revenue streams with the acquisition of Titan Environmental Solutions, a waste management business, writes John George for the Philadelphia Business Journal. The move comes a month after the biotechnology company announced plans to enter the real estate business. Windtree said it has secured debt financing for the transaction,…
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Wistar Institute Opens New HIV Cure and Viral Diseases Center
The Wistar Institute recently celebrated a ribbon cutting for the opening of its new HIV Cure and Viral Diseases Center. The vision for the center is to uncover the fundamental science that powers tomorrow’s cures for HIV and other viral diseases. The belief is that revealing how viruses work and how the immune system responds,…
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Merck’s West Point Presence Remains Strong Amid Riverside Closure
As Merck moves forward with plans to close their Riverside facility, the company remains committed to its West Point location and other sites, writes Nathan Owens for Manufacturing Drive. The Riverside plant, which once employed 300 people, was originally slated to cease production in 2024. Merck hasn’t disclosed why the timeline was delayed but noted…
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FDA Denies Langhorne-Based Savara Application for Rare Lung Disease Treatment
The Food and Drug Administration has rejected an application filed by Langhorne-based Savara for its new drug candidate Molbreevi as a treatment for rare lung disease, autoimmune pulmonary alveolar proteinosis, writes John George for the Philadelphia Business Journal. The FDA stated in a “refusal to file letter” that a preliminary review determined the biopharmaceutical company’s…
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Warrington-Based Windtree Therapeutics Buys Huston Apartment Complex
Warrington-based Windtree Therapeutics is purchasing a 436-unit apartment complex in Texas as part of its strategy to generate revenue while continuing with the development of new drug candidates, writes John George for the Philadelphia Business Journal. The biotechnology company will pay the Way Maker Growth Fund, a real estate investment group, $43 million to buy…
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Newtown-Based Helius Medical Technologies Issues Reverse Stock Split
Newtown-based Helius Medical Technologies initiated a 1-for-15 reverse stock split to satisfy NASDAQ’s minimum $1 per share listing requirement, writes John George for the Philadelphia Business Journal. The stock was trading at 27 cents per share early Thursday following the announcement, reflecting an increase of more than 13 percent. The company’s stockholders approved a proposal…
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