March 16 Quick Takes: Biogen data unlikely to change CMS’s mind

Biogen Inc. (NASDAQ:BIIB) published the results of its Phase III studies of anti-amyloid mAb Aduhelm aducanumab-avwa in The Journal of Prevention of Alzheimer’s Disease, checking off one of the outstanding issues CMS had pointed to in its draft national coverage determination severely limiting coverage of the therapy. However, given the extent of CMS’s issues with the data, the publication alone may be unlikely to materially change the agency’s thinking. According to former CMS officials, a more likely driver of a modified final NCD may be calls to offer a path to broad coverage for any anti-amyloid mAb that manages to produce more convincing Phase III efficacy results than Aduhelm did; two competing mAbs are due for Phase III readouts in the second half of this year.

Cell therapy company 2seventy bio Inc. raised $170 million through the sale of 13.9 million shares at 12.20. Investors participating in this private placement include 683 Capital, Armistice Capital, Bain Capital Life Sciences, Boxer Capital, CaaS Capital, Casdin Capital, Cowen Healthcare Investments, EcoR1 Capital, Heights Capital, Janus Henderson Investors, Madison Avenue Partners, Newtyn Management, Nick Leschly & family, RTW Investments, LP, and existing investors...