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Intercept Pharma sold by Chairman of Board: $71.24m-Aug 13,14 & 17
Intercept Pharmaceuticals, Inc. is an American biopharmaceutical company incorporated in 2002, focusing on the development of novel synthetic bile acid analogs to treat chronic liver diseases, such as primary biliary cirrhosis (PBC) now called primary biliary cholangitis, non-alcoholic fatty liver disease (or non-alcoholic steatohepatitis, NASH), cirrhosis, portal hypertension, primary sclerosing cholangitis and also the intestinal disorder, bile acid diarrhea. The company's lead product is obeticholic acid, OCA, also known as 6-ethyl-chenodeoxycholic acid or INT-747, marketed as Ocaliva. OCA is a potent first-in-class farnesoid X receptor (FXR) agonist. As of March 2017, Ocaliva is approved in the US and the EU for use in primary biliary cholangitis. It is in phase III studies for non-alcoholic steatohepatitis (NASH) and phase II studies for primary sclerosing cholangitis. Other products in the development pipeline include INT-767, a dual FXR/TGR5 agonist, and INT-777, a TGR5 agonist. On June 29, 2020, the company released a statement announcing that FDA had rejected its lead product obeticholic acid, OCA, because FDA officials had determined that "the predicted benefit of the drug does not sufficiently outweigh the predicted risks"
https://en.wikipedia.org/wiki/Intercept_Pharmaceuticals
Chairman of the Board Paolo Fundarò has served as our Chairman since October 2015 and as a member of our Board of Directors since 2006. Mr. Fundarò has been the Chief Executive Officer of Genextra S.p.A., an investment firm focused on the life sciences industry, since July 2019 and previously served as the Chief Financial Officer of Genextra S.p.A. from its inception in 2004 until 2019. Mr. Fundarò also has served as Managing Director of certain of Genextra’s portfolio companies, including Congenia S.r.l. since 2004, Dac S.r.l. from 2004 until December 2016 and Tethis S.p.A. from 2004 until July 2016. Before joining Genextra, Mr. Fundarò was Director of Finance and Strategic Planning for the Fastweb Group from 2000 to 2004. Earlier in his career, Mr. Fundarò worked for investment banks Salomon Smith Barney (now Citigroup) and Donaldson, Lufkin & Jenrette (now Credit Suisse). Mr. Fundarò serves on the board of directors of a number of private companies, including Genextra S.p.A. Mr. Fundarò received a degree in Business Management from Bocconi University in Milan, Italy. He is also on the board of EryDel SpA, Applango USA, Inc., Applango Systems Ltd. and InnovHeart Srl.
Paolo Fundarò-Chief Executive Officer-Genextra Spa
With an Italian shareholder base and approximately 1bn USD in net asset value, Genextra is one of Italy’s largest and most experienced life sciences investment firms.
Founded in 2004, Genextra is focused on seeking and fostering the development of life sciences investment opportunities and on assisting in building the infrastructure and management teams that facilitate growth.
http://www.genextra.it/about-us/
http://www.genextra.it/team/
https://ir.interceptpharma.com/board-directors/paolo-fundaro
https://www.finviz.com/insidertrading.ashx?oc=1559537&tc=7&b=2
Canada’s finance minister quits amid reports of tensions with Trudeau
Bill Morneau is resigning from his position as Canada’s finance minister and a Liberal member of Parliament. Morneau, who has been in the role since 2015, says he is putting his name forward as a candidate to lead the Organization for Economic Cooperation and Development.
He made the announcement in a press conference Monday evening, shortly after BNN Bloomberg learned the news from a source familiar with the matter. “I’ve been thinking about this for a period of time,” Morneau told reporters in Ottawa. Morneau thanked Prime Minister Justin Trudeau for the “life-changing” opportunity and said he’s confident the prime minister will make a “positive choice” for the next finance minister.
Trudeau took to Twitter to thank Morneau.
“Bill, you have my deepest gratitude and I want to thank you for everything you have done to improve the quality of life of Canadians. I know you will continue making great contributions to our country in the years to come,” he wrote. Earlier Monday, BNN Bloomberg reported Trudeau and Morneau were holding a face-to-face meeting. A senior government source, who was not authorized to speak on the record, told BNN Bloomberg the nature of the meeting was to discuss their working relationship.
Bloomberg News reported last week that Mark Carney, a former Bank of Canada and Bank of England governor, has been serving as an informal advisor to Trudeau on the economic recovery. Following this report, Trudeau declared “full confidence” in the finance minister.
For several weeks, opposition parties have been calling for Morneau’s resignation over allegations that he had a conflict of interest in the WE Charity affair. In his remarks Monday evening, Morneau said Trudeau did not ask him to resign. He also suggested the recent leaks and speculation about his relationship with the prime minister were par for the course as finance minister.
“I will look forward to watching politics from the outside,” he said.
https://www.bnnbloomberg.ca/morneau-quits-amid-reports-of-tensions-with-trudeau-1.1481329