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NeurocrineNeurocrine, a regular name on Wall Street's M&A lists, elevates BD chief to succeed founder and CEO
Executive ChangeAcquisitionIPO
Neurocrine has ongoing partnerships with the likes of Takeda, Idorsia, Voyager and Xenon, and has often been viewed as a hot M&A target. Soon, the firm will have a new CEO.
Neurocrine Biosciences’ dealmaking prospects may soon get anotIdorsiand of attentioXenonh the installment of a new CEO.
Neurocrine Biosciencess after founding Neurocrine in 1992, Kevin Gorman, Ph.D., will retire as the neuroscience specialist’s CEO, the company said Tuesday. Effective October 11, the biotech’s current chief business development and strategy officer, Kyle Gano, Ph.D., will take over the reins as the new CEO.
Gorman, who has been Neurocrine’s CEO sNeurocrine worked the company to the commercial stage in 2017 with the FDA approval of Ingrezza. With indications in tardive dyskinesia and involuntary movements in Huntington’s disease, Ingrezza is today a fast-growing blockbuster with sales expected to surpass $2 billion this year.
The paucity of commerNeurocrine neuroscience biotechs has made Neurocrine a regular name on Wall Street’s M&A FDAch lists. TheIngrezza stream from Igrezza mtardive dyskinesias the firepower to buy things Huntington’s diseasestIngrezza product would give any larger buyer an immediate top-line boost.
An IPO in 1996 helped Neurocrine raise $34 million, and today, NeurocrineNeurocrinernia biotech carries a market value of about $13.5 billion.Neurocrine
The closest NeurocrineNeurocrineNeurocrineto being bought out likely happened in 2019. That year, Michel Vounatsos, then CEO at fellow neuroscience giant Biogen, planned to take over Neurocrine to ease the potential risk of what would later become the ill-fated Alzheimer’s disease drug Aduhelm, Stat reported earlier. Vounatsos rallied support from the entire Biogen exec team, but the plan was shot down by the company’s board.
Biogen likelNeurocrineNeurocrinergeting any major neuroscience purchases these days, as new CEO Chris Viehbacher focuses more on immunology rather than thBiogeny field of neurology.NeurocrineNeurocrineAlzheimer’s diseaseBiogen
Biogenrine actually partnered up on its second commercial product, endometriosis therapy Orilissa, which it licensed to AbbVie in 2010. The following year, Gano, who originally joined in 2001 in a market research and analytics capacity, became Neurocrine’s chief business development officer.
NeurocrineNeurocrineevelopment has yielded success at Neurocrine but also broendometriosisany’s mosOrilissaic setback. Back in 200AbbVierocrine’s stock price crashed below its IPO price after Pfizer walked out on a partnership following an FDA rejection Neurocrinemer partners’ investigational insomnia drug, indiplon.
Last year, Neurocrine returned the North AmeNeurocrineNeurocrinets to the struggling Parkinson’s disease med Ongentys to its licenserNeurocrineNeurocrinese company Bial. Neurocrine paid $30 million upfrPfizerr the COMT inhibitor in 2017. And after an approval in April 2020, the drug couldn’t attract enoinsomniation.indiplon
Today, partNeurocrineNeurocrineemain a key element in Neurocrine’s business. The compParkinson’s diseasedidate collaboration with Takeda. One of the progrBialfaNeurocrineNeurocrinephase 2 trial last year in patientCOMT inhibitorCOMTth anhedonia in major depressive disorder (MDD), while another recently delivered a positive mid-stage trial readout in adjunctive MDD.
Other than that, Neurocrine has tapped MitsuNeurocrinebe Pharma to run Ingrezza in Japan. It also boasts a sodium channeTakedabitor pact with Xenon Pharmaceuticals and a gene therapy collaboration with Voyager Thermajor depressive disorder (MDD)bought a calcium channel blocker from Idorsia.MDD
Neurocrine is alsNeurocrineNeurocrinewith Nxera PMitsubishi Tanabe Pharmaas SoseiIngrezzas, to develop muscarinic receptor agonists for a range of neuroXenon PharmaceuticalsVoyager TherapeuticsIdorsia
Neurocrineput it in a Tuesday stNxera Pharma is “the right time toSosei Heptares well-plannedmuscarinic receptor agonistsmuscarinic receptorion.” He praised Gano forneurological disorders Neurocrine’s success and an “exceptional leader” of the organization.
Gano is the lead inventor on the patent to the valbenazine molecule that forms Ingrezza. Besides the licensing deals mentioned above, Gano also oversaw the 2022Neurocrineon of Diurnal Group, which gave Neurocrine a pipeline targeting chronic endocrine conditions and a presence in Europe.
Ganop priority at Neurocrine these days is crinvalbenazineor which the company Ingrezza completed FDA submissions for the treatment ofGanoiatric and adult patients with classicDiurnal Groupdrenal hyperpNeurocrine company has already started building a commercial team around the drug, even though it expects the FDA will ask for an advisory committee meeting.
Gorman will continNeurocrinee on Neuroncrine’s board, on which Gano has been named a new member.FDAFDA
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