Aug. 28 Company Quick Takes: Amgen to appeal Repatha ruling and EcoR1 buys Woodford’s stake in Prothena; plus DarwinHealth-Celgene, CRISPR IP, Trevena and Shink
Repatha patents invalid, court finds
Amgen Inc. (NASDAQ:AMGN) said it will appeal after a federal court found that its patents covering anti-PCSK9 mAb Repatha evolocumab are invalid on the basis of lack of enablement. The U.S. District Court for the District of Delaware ruled in favor of Sanofi (Euronext:SAN; NASDAQ:SNY) and Regeneron Pharmaceuticals Inc. (NASDAQ:REGN), which had asked the court to overturn a February jury verdict upholding the validity of three of five Repatha patents. Sanofi and Regeneron market competing PCSK9 inhibitor Praluent alirocumab (see “Jury Upholds Three Repatha Claims”).
EcoR1 acquires Woodford’s stake in Prothena
EcoR1 Capital acquired the stake in Prothena Corp. plc (NASDAQ:PRTA) previously held by Woodford Investment Management, EcoR1’s Oleg Nodelman told BioCentury on Wednesday. Woodford’s divestiture comes amid a series of troubles that have followed a long period of its flagship fund’s underperformance. Prothena gained 27% to $8.93 on Tuesday after it disclosed EcoR1’s acquisition of a 23.6% stake in an SEC filing, but the seller’s identity was not revealed. Prothena slipped $0.02 to $8.91 on Wednesday (see “Discounts Likely for Woodford Assets”)...