Leadership changes afoot at two CGT biotechs

Cell therapy specializer Legend Biotech has announced the abrupt departure of its CEO, portion Sarepta has revealed its caller person aft a long-planned transition, marking 2 contrasting approaches astatine the 2 precocious therapy biotechs.

Legend's Ying Huang told the committee of directors helium was resigning from his presumption arsenic CEO connected 24 July. As per a filing published connected 27 July, the biotech stated that the abrupt departure "was not the effect of immoderate disagreement with the institution connected immoderate substance relating to the company's operations, policies oregon practices oregon the company's fiscal statements oregon interior controls implicit fiscal reporting".

In a statement, Huang said: "It has been an honour to pb this institution and enactment alongside specified a dedicated team. Together, we helped beforehand compartment therapy and grow attraction options for radical surviving with aggregate myeloma…I permission with heavy assurance successful the aboriginal of Legend Biotech."

A hunt is underway for a caller leader, with Alan Bash – existent president of Legend's Carvykti Business Unit – arsenic interim CEO.

Carvykti (ciltacabtagene autoleucel), a personalised CAR-T compartment immunotherapy utilized to dainty aggregate myeloma, is Legend's lone approved therapy. Co-developed and co-commercialised with Johnson & Johnson (J&J), the compartment therapy has already reached blockbuster status, reflecting its beardown commercialized performance.

In caller years, respective rivals person emerged to supply contention to the brand, astir notably Gilead and Arcellx's anito-cel. There person besides been concerns from US lawmakers regarding Legend's ties with China. The biotech's erstwhile Chinese genitor company, GenScript Biotech Corporation, is accused of having power from the Chinese Communist Party, according to US quality bodies.

In a statement, Bash said: "The opportunities up for Legend are significant. We person a differentiated commercialized therapy, a promising pipeline, a talented enactment team, and a strategy that remains firmly successful place. Most importantly, we person teams astir the satellite who amusement up each time with the determination to crook technological innovation into meaningful outcomes for patients and families.

"At moments similar this, continuity matters. Patients, partners, employees, and shareholders tin expect america to stay focused connected execution and connected advancing the enactment already underway."

Sarepta chooses ex-AbbVie President

Unlike Legend's alteration astatine the helm, Sarepta's CEO power has been expected for a while. Speaking successful an capitalist telephone connected 25 February, Doug Ingram announced helium was leaving Sarepta aft a decennary astatine the Duchenne muscular dystrophy (DMD) developer. Ingram is retiring for idiosyncratic reasons, with 2 members of his household being diagnosed with myotonic dystrophy successful what helium called a "shocking and surely ironic twist of fate".