July 27 Quick Takes: Rachel King out of the running for BIO CEO

Rachel King, who is serving as interim CEO at BIO, has informed BIO’s board that she will not seek the position on a permanent basis. In an email to BIO staff, King wrote that she is “not prepared to make the 3-5 year commitment that BIO needs.” King, who was named interim CEO in October 2022, added that she has extended her contract and will continue to serve as interim CEO as BIO searches for a permanent CEO and to support a transition when the trade association’s next leader is selected. BIO Chair Ted Love is leading a 10-person committee that is managing the search for a permanent CEO. In an interview with BioCentury in June, Love said the committee and a search firm are engaging in an extensive process of consultation with BIO staff and stakeholders prior to interviewing candidates.

Clinical oncology company Adlai Nortye Ltd. filed for a listing of ADSs on NASDAQ. The biotech, which maintains locations in China and New Jersey, is advancing PI3K inhibitor buparlisib (AN2025) in a Phase III trial, and has earlier programs targeting EP4 and PD-L1. Adlai Nortye in-licensed buparlisib from Novartis AG (SIX:NOVN; NYSE:NVS). Its largest shareholder is founder, President and CEO Yang Lu, also known as Carsten Lu...