Pharma & Biotech
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Malvern’s Endo Enters Into Agreement to Merge with Mallinckrodt in $6 Billion Deal
Malvern-based Endo has agreed to merge with Mallinckrodt in a cash and stock deal, valuing the combined pharmaceutical company at $6.7 billion, writes John George for the Philadelphia Business Journal. Both Endo’s predecessor company, Endo International, and Mallinckrodt recently went through bankruptcies and also had to deal with litigation regarding their alleged roles in the…
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Mineralys in Radnor Sees Stock Price Explode After Hypertension Drug Test
The Radnor biopharmaceutical firm Mineralys Therapeutics saw its stock price hit new heights Monday after a positive late-stage clinical trial showed promise for its new hypertension drug candidate. The drug Lorundrostat.is being developed to treat uncontrolled hypertension, writes John George for Philadelphia Business Journal. The stock price spiked 65 percent to $17.36 a share as…
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One Chester County Company Lands on Forbes Best Midsize Employers List
One Chester County company has found its place on the recently published Forbes 2025 America’s Best Large Employers List, write Rachel Rabkin Peachman and staff for Forbes. For the last decade, the publication has ranked America’s best employers based on criteria that include compensation, employee development and advancement, meaningful work, supportive colleagues, and workplace well-being…
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Penn Could Lose Upward of $250M If NIH Scientific Research Funds Are Cut
If funding for National Institutes of Health is cut under a directive from President Donald Trump’s administration, the University of Pennsylvania could stand to lose $250 million, write Sarah Gantz, Aubrey Whelan, and Harold Brubaker for The Philadelphia Inquirer. The current administration recently unveiled plans to cap NIH spending on overhead costs associated with research…
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ArriVent in Newtown Square Sees Big Potential in New Cancer Drug
ArriVent BioPharma in Newtown Square is working on a deal potentially worth more than $1 billion to acquire the rights for an experimental gastrointestinal cancer treatment, writes John George for Philadelphia Business Journal. ArriVent, found in 2021, has agreed to pay $47 million up front to Lepu Biopharma Co. of Shanghai for rights outside of…
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Marinus Therapeutics in Radnor Acquired by Swedish Company
Marinus Pharmaceuticals, based in Radnor, is being acquired by Immedica Pharma, a Swedish drug company specializing in treatments for rare diseases, writes John George for Philadelphia Business Journal. The the acquisition deal is valued at $151 million. News of the planned acquisition of the struggling company drove Marinus stock up 43 percent to 53 cents…
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Idorsia Therapeutics Poised to Cut Hundreds of Jobs in Restructuring
Idorsia Therapeutics is negotiating to sell global rights to its high blood pressure drug amid a restructuring that could eliminate up to 270 positions, writes John George for Philadelphia Business Journal. Idorsia in Allschwil, Switzerland, has 1,100 workers globally, but has its US operations—Idorsia Pharmaceuticals USA–in Radnor, where there are about 125 workers. The eliminated…
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Wayne’s Aclaris Therapeutics Signs Exclusive Licensing Deal with Chinese Biotech
Wayne-based Aclaris Therapeutics has entered into an exclusive licensing agreement with a Chinese biotechnology company worth up to $960 million, causing a spike in the company’s shares earlier this week, writes John George for the Philadelphia Business Journal. The Biosion deal involves an experimental treatment for severe asthma and atopic dermatitis, a skin disorder. As…
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Avantor in Radnor Opens Innovation Center, Looks at Acquisitions
Avantor, a life sciences products and services company in Radnor, is normally involved in merger and acquisitions activity, but it’s been keeping a low profile more recently. That is about to change, writes John George for Philadelphia Business Journal. “This business, it’s driven off of technology and where our customers are going,” said CEO Michael…
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French Biotechnology Giant bioMérieux Opens New Molecular, Genome Innovation Center at Navy Yard
After acquiring a homegrown startup, French biotechnology giant bioMérieux has opened a new molecular and genomic innovation center at the Navy Yard, writes Kristen Mosbrucker-Garza for WHYY. Currently, around 50 people work at the center, with plenty of room for expansion. “This is open 24/7,” said Adam Joelsson, senior director of assay development, industrial applications…
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University of Pennsylvania Suing German Drugmaker BioNTech Over COVID-19 Vaccine Payments
The University of Pennsylvania submitted a federal civil lawsuit against BioNTech, alleging that the German drugmaker did not pay Penn its full share of royalties from COVID-19 vaccine worldwide sales, writes Abraham Gutman for The Philadelphia Inquirer. The vaccine was made by BioNTech and Pfizer using mRNA technology developed by Penn researchers Katalin Karikó and…
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Radnor’s Avantor Has a Pride Network for Employee Inclusivity
Avantor, a Radnor Fortune 500 company, was eager to increase its inclusivity practices and create a safe workplace for its employees. So in 2020, the company created the Pride Network, writes Lisa Dukart for Philadelphia Business Journal. Today, nearly 10 percent of its 14,500 global employees have joined the Network and given Avantor a perfect…
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Newtown Square’s ArriVent Partners With Chinese Firm on Cancer Drug
ArriVent Biopharma in Newtown Square has made a deal valued up to $615 million with a Chinese firm on a cancer drug development, writes John George for Philadelphia Business Journal. ArriVent will team with Jiangsu Alphamab Biopharmaceutical on antibody drug conjugates, also known as ADCs. They’re a type of cancer treatment that combines a cloned…
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Radnor Life Science Product Firm Avantor Narrowly Misses Fortune 500
The Radnor life science product company Avantor, which appeared last year among the Fortune 500, narrowly missed the list this year, dropping down from 485 in 2023 to No. 506 this year, writes Ryan Sharrow for Philadelphia Business Journal. The Fortune 500 list, released each year, ranks publicly-traded companies by annual revenue. Avantor provides products…
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Certara Moves Corporate Headquarters From Princeton to Radnor
Certara, a technology company that specializes in biosimulation software which helps with drug discovery and development, has moved its corporate headquarters to Radnor, writes John George for the Philadelphia Business Journal. Its 15,672 square-foot headquarters are located on the third floor of Brandywine Realty Trust’s Four Radnor Corporate Center. The headquarters had previously been…
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Incyte Moving 300 Chadds Ford Jobs to Wilmington in Expansion
Biopharmaceutical company Incyte is relocating 300 jobs from Chadds Ford to Wilmington, Delaware following the purchase of two buildings there, writes Pau Schwedelson for Philadelphia Business Journal. Incyte has a Chadds Ford location at 100 Mighty Oak Lane. Staffers there will be relocating to two former bank buildings in downtown Wilmington as part of a…
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Radnor Biopharma Firm Marinus Lays Off 20 Percent of Staff
Marinus Pharmaceuticals, Inc., a 20-year-old Radnor biopharmaceutical company working on epilepsy treatments, has laid off 20 percent of its staff to preserve its cash and keep operating into the first quarter of 2025, writes Harold Brubaker for Philadelphia Business Journal. The layoffs affected 35 people. The company had $113.3 million in cash and short-term investments…
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Marinus Pharmaceuticals Loses 80 Percent Market Value Over New Drug
Marinus Pharmaceuticals of Radnor saw its stock price plunge by more than 80 percent Monday because of a setback in an experimental seizure drug, writes John George for Philadelphia Business Journal. The company had a drug candidate in phase 3 testing that targets refractory status epilepticus, a rare condition that causes life-threatening, prolonged seizures in…
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