Artificial Cell Technologies Inc., CFO has been indicted for embezzlement from the company.

NEW HAVEN: The chief financial officer of Artificial Cell Technologies Inc, .a Science Park based biotech receiving federal research grants was charged with embezzling nearly $1 million from the company. Thomas Malone of New Haven was arraigned before United States Magistrate Judge Sarah A. L. Merriam and was released on a $50,000 bond.

ACT is developing malaria and respiratory syncytial virus vaccines, the company reportedly has nine employees and has received funding from private investors and approximately $4.1 million in SBIR grants from the National Institutes of Health since 2008.

ZYDIS S Catalent 0282 v2NEW HAVEN: Biohaven Pharmaceutical Holding Company Ltd. [NYSE:BHVN] has entered into an exclusive worldwide license agreement with Catalent U.K. Swindon Zydis Limited, a subsidiary of Catalent, Inc. [CTLT] ("Catalent") to provide Catalent's Zydis® ODT (orally disintegrating tablet) fast-dissolving formulation for the development of Biohaven's lead calcitonin gene-related peptide (CGRP) receptor antagonist product candidate, rimegepant.

The agreement also provides exclusive rights for developing small molecule CGRP receptor antagonists with the Zydis ODT technology. Catalent's proprietary Zydis technology is a unique, freeze-dried, oral solid dosage form that disperses almost instantly in the mouth, without the need for water. With more than 20 products launched in 50 countries and a dispersion speed of three seconds or less, the company says “Zydis ODT is the world's fastest and best-in-class orally dissolving tablet.”

ach01 milind2 deshpande ach04 joseph truitt
CEO Millind Deshpande, "focused on ..Factor D portfoilio." Joseph Truitt named as Chief Operating Office

NEW HAVEN: Achillion Pharmaceuticals, Inc. [NASDAQ:ACHN} is reducing its workforce to 70 a decrease of 20% in what it is calling an “operational restructuring plan that aims to focus the organization on advancing Achillion’s existing clinical and late-stage preclinical factor D inhibitors and reduce expenses to maintain its strong balance sheet.”

The plan is hoped to deliver “approximately $10 million of savings in 2018 over 2017 expense levels.

In addition, the Company announced that Joseph Truitt has been promoted to President and Chief Operating Officer, continuing to report to Chief Executive Officer, Milind Deshpande, Ph.D.

bioxcelBRANFORD: How’s this for Start-up speed, BioXcel Therapeutics, founded less than a year ago, is launching a $69 million IPO.

The company says it uses “big data” and machine learning to find new drug therapies.

“We believe that this differentiated approach has the potential to reduce the cost and time of drug development in diseases with substantial unmet medical need,” the company said in a statement.

The Nasdaq Capital Market under the ticker symbol “BTAI.

alexionnNEW HAVEN: Even as the company prepares to head north to a new headquarters in Boston, the New Haven portfolio of drugs continues to power ahead for Alexion Pharmaceuticals, Inc. [NYSE:ALXN].

Sales for the company’s lead drug Soliris continues to generate new sales, and Strensiq and Kanuma, both drugs acquired by the company have seen significant sales increases as well.

 Judith ANEW HAVEN: The revamping of Alexion’s [NYSE: ALXN] Board of Directors continues with, the appointment of Judith A. Reinsdorf, JD.

Reinsdorf until recently served as Executive Vice President and General Counsel of Johnson Controls International, a “global leader” in building products and technology, integrated solutions, and energy storage, following its merger in September 2016 with Tyco International, where she served as Executive Vice President and General Counsel from March 2007 until September 2016.

akariLONDON: The tiny [$36 million market cap] UK company and potential Alexion competitor Akari Therapeutics [Nasdaq:AKTX], completed its Phase II COBALT Trial of Coversin [a C5 complement inhibitor] in patients with Paroxysmal Nocturnal Hemoglobinuria PNH.

PNH and Hemolytic Uremic Syndrome (aHUS) are the rare conditions that drive Soliris sales of more than $3 billion annually for Alexion.