Prior poster is living in isolation in Tibet. Did you see the number of new posts for hiring to replace existing idiots at the Hayward plant? Just go on LinkedIn dummy. Masses of Intarcia folks are running for the hills!
Intarcia Therapeutics
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Chit ya - jez woke up to more invitations to good bye parties. Pleasure Palace is doin good business off us bying gifts for the dearly departed. You know crufixian is being planned to prove that the guilty are dead.
Psst! It's an open secret as the times up for the useful idiots who toiled tirelessly wishin for the sliver of IPO lottery. But there has to be inevitable fallouts. Expect the formations of dueling teams tasked with same goals like TV cooking reality shows where the losing teams will be wiped out whilst winning teams are rewarded with special bonuses.
As for the handful of hirable talents who weren't smart enough to bail within a year in Hayweird - heard they are actively looking for exits. In the mean time the dead woods at all levels whose incompetence led to well deserved CRL will hang on.
Is it true that we owe a lot of monthly loan payments and are running out of cash ? JLP said most of the long term finance people have already left or are leaving...
Now that the rats are fleeing the ship - it is time to share your documents and notes with the SEC
SEC Enforcement Actions: FCPA Cases
Enforcement of the Foreign Corrupt Practices Act (FCPA) continues to be a high priority area for the SEC. In 2010, the SEC's Enforcement Division created a specialized unit to further enhance its enforcement of the FCPA, which prohibits companies issuing stock in the U.S. from bribing foreign officials for government contracts and other business.
Servier emails are specifically requested
SEC Enforcement Actions: FCPA Cases
Enforcement of the Foreign Corrupt Practices Act (FCPA) continues to be a high priority area for the SEC. In 2010, the SEC's Enforcement Division created a specialized unit to further enhance its enforcement of the FCPA, which prohibits companies issuing stock in the U.S. from bribing foreign officials for government contracts and other business.
Servier emails are specifically requested
Ah the plot thickens as was wondering what prompted the prolific money raising wonder boy Big O to resign recently. Gotta give OH, KG's right hand money man, credit for reeling in the Chinese and Korean dumb money in droves. Heck Big O drank the KG kool/fool aid and reported to have invested $55 mil of his own dough.
Was obvious that KG and OH can NO longer raise more money in US with last US round of $225 million in the form of "synthetic royalty convertible notes" (WTF?) 2 years ago for 2% of revenue and equity - LOL. So they went offshore plying their trade and lemming soon to be bagholders bought into it hook, line and sinker. Why? Cos investors in US after Theranos saga are bit smarter and DD certainly include market potential in Type 2 diabetes market run amok with cheap GLP-1 not to mention slew of drugs with the coveted cardiovascular benefit like the GLP stalwart Victoza. Oh yeah Teva is launching generic exenatide this month!
Funny the Intarcia insiders won't share the ITCA-650 cost to payers 1st year with 3 pumps, 3 implantation and 2 explanation surgeries, and other costs cos it has been open secret that the payers in droves said NO way to KG and his marketing minions. No other drug company I'm aware of spent so much emphasis on marketing. What a bunch of fools...
Don't worry honey as don't think KG was borrowing to hilt but then again only selected few would know being privately held company.
What would derail KG's misadventure and soon rounds of begging meeting with investors would be the expected next milestone payments for the coveted FDA approval from the investors are frozen. KG and his boys might be knocking on doors for some kind of bridge loans too. In the mean time cost and time to get out of CRL is probably lot more and longer than expected. Anyway - your job is probably safe till you know what hits the fan early next year.
As if Servier is not really pissed (sarcasm) calling for heads on silver platters in Hayweird. Servier mad a big mistake getting into bed with Intarcia for sure. Call it arrogant French men envy of Sanofi and even Ipsen in diabetes space led them to Intarcia folly. Time will tell but further straining of relationship between them only means more pain and agonies ahead for all, and wouldn't rule out lawsuits even if emails are subpoenaed.
TEVA launches Generic Exenatide Monday October 16th In US
That's right folks.... GENERIC
Kiss yo ass goodbye
That's right folks.... GENERIC
Kiss yo ass goodbye
What a difference a CRL makes! It was just yesterday when this rotten turkey posted a gazillion commercial jobs most of which were never filled. Remember the hoops and delays just to get an interview? And if you were “lucky” to get called in you were thrilled that they looked at you. Only you never heard back. Oh, and that survey! If you didn’t pass it you were deemed a loser. If you somehow passed it meant you lied on all your replies and lost anyway because you came off like the world’s biggest douchebag. Check out the job board now: 50 Executive Janitor positions need to be filled asap to deep sanitize the place and remove the carcinogenic wreck.
Ah the halcyon days of March through August of 2017 here in the land of the vaunted biotech unicorn. What an amazing and well deserved fall to hell.
Ah the halcyon days of March through August of 2017 here in the land of the vaunted biotech unicorn. What an amazing and well deserved fall to hell.
These arrogant douchebags did a dandy job pissing off the top 50% of the folks who could have attempted the mission impossible to peddle ITCA against sea of rejections at all levels. Words out about the douchery practiced there and good luck a year from now trying to recruit cos you will be stuck with bottom of the barrel talents or lack there of.
Rats are fleeing the sinking ship!
Talk about timing as both Yee (left to join Graves arch enemy across the street) and Hughes (rumor has it he pissed off Servier with zero clue as investment banker turned biotech startup CEO - WTF?) departed before the CRL which begs the question of when did the word get out amongst the leadership team jokers about the pending CRL?
And wonder why 3 of 8 BoD members left again right before the CRL? Boardroom coup d'etat against bully Graves gone wrong, resigned out of disgust and disdain or these savvy chaps knew Intarcia will fail commercialization?
https://www.bizjournals.com/boston/news/2017/09/29/intarcia-loses-two-top-executives-reshuffles.html
Intarcia loses two top executives, reshuffles board
By Max Stendahl – Biotech Reporter, Boston Business Journal
Sep 29, 2017, 10:36am
Two top executives and three board members recently stepped down from Boston-based Intarcia Therapeutics, before the Boston-based company learned that the FDA declined to immediately approve its diabetes pump.
Intarcia CEO Kurt Graves told the Business Journal that John Yee resigned in August as head of global medical affairs, safety and operations after around 18 months in that role. Yee has since taken a job as head of global medical affairs at Vertex Pharmaceuticals, according to his LinkedIn page. Graves also said that Intarcia’s chief business officer and head of corporate development, Owen Hughes, has left the company after more than five years to serve as the CEO of a biotech startup.
Previously, on Sept. 20, Intarcia announced in a press release that three of its eight board members had stepped down, and were replaced by new members.
Graves said that the departures had been in the works well before Intarcia received a so-called complete response letter from the FDA, in which the agency declined to approve the company’s current application to market the device.
Such letters are not public, and Intarcia’s press release on Wednesday disclosing the letter did not describe the nature or extent of the FDA’s concerns. Still, the company has said that it does not expect that it will need to conduct new pivotal trials before resubmitting its application.
"We are confident we can address the items noted in the CRL, and we're going to work closely with the FDA on next steps," Graves said Friday.
Intarcia has seen its value soar past the $5 billion mark in recent years, driven by hopes that ITCA 650 will be approved — and potentially revolutionize the treatment of Type 2 diabetes. The device, which is inserted into the abdomen and gradually pumps tiny amounts of a drug into the bloodstream over the course of six months or a year, outperformed Merck & Co.’s blockbuster drug Januvia in a head-to-head trial, according to Intarcia.
Talk about timing as both Yee (left to join Graves arch enemy across the street) and Hughes (rumor has it he pissed off Servier with zero clue as investment banker turned biotech startup CEO - WTF?) departed before the CRL which begs the question of when did the word get out amongst the leadership team jokers about the pending CRL?
And wonder why 3 of 8 BoD members left again right before the CRL? Boardroom coup d'etat against bully Graves gone wrong, resigned out of disgust and disdain or these savvy chaps knew Intarcia will fail commercialization?
https://www.bizjournals.com/boston/news/2017/09/29/intarcia-loses-two-top-executives-reshuffles.html
Intarcia loses two top executives, reshuffles board
By Max Stendahl – Biotech Reporter, Boston Business Journal
Sep 29, 2017, 10:36am
Two top executives and three board members recently stepped down from Boston-based Intarcia Therapeutics, before the Boston-based company learned that the FDA declined to immediately approve its diabetes pump.
Intarcia CEO Kurt Graves told the Business Journal that John Yee resigned in August as head of global medical affairs, safety and operations after around 18 months in that role. Yee has since taken a job as head of global medical affairs at Vertex Pharmaceuticals, according to his LinkedIn page. Graves also said that Intarcia’s chief business officer and head of corporate development, Owen Hughes, has left the company after more than five years to serve as the CEO of a biotech startup.
Previously, on Sept. 20, Intarcia announced in a press release that three of its eight board members had stepped down, and were replaced by new members.
Graves said that the departures had been in the works well before Intarcia received a so-called complete response letter from the FDA, in which the agency declined to approve the company’s current application to market the device.
Such letters are not public, and Intarcia’s press release on Wednesday disclosing the letter did not describe the nature or extent of the FDA’s concerns. Still, the company has said that it does not expect that it will need to conduct new pivotal trials before resubmitting its application.
"We are confident we can address the items noted in the CRL, and we're going to work closely with the FDA on next steps," Graves said Friday.
Intarcia has seen its value soar past the $5 billion mark in recent years, driven by hopes that ITCA 650 will be approved — and potentially revolutionize the treatment of Type 2 diabetes. The device, which is inserted into the abdomen and gradually pumps tiny amounts of a drug into the bloodstream over the course of six months or a year, outperformed Merck & Co.’s blockbuster drug Januvia in a head-to-head trial, according to Intarcia.
Spot on! And I work here. Having this gig on my resume will be career limiting if I don’t find something soon. Everyone that’s still standing here feels like a loser and we’re all looking like crazy. Morale is gone. There’s no hope here. I can’t wait for any kind of severance.
Friend working for pharma company in SF Peninsula said they have been inundated with resumes from Intarcia lately especially from the Quality and Regulatory people. She said they hide those people's CV on the system as Intarcia hired too many people quickly and many are known to be poor performers with bloated title.
“Poor performers with bloated title?” Now that’s rich! And an uncanny description of the 13th floor in Boston: Mahesh, Kurt, Jay, Tony and their minions Jeff, Dave, blah, blah, blah.
Heard a rumour that Boston will face blunt of firings of those hired to prepare for the launch with little to do? Not just those involved with launch but other worthless shindig shit like customer experience and design?
It is I... Kurt the Magnificent !!!! Bow down Intarcia slaves, shield your eyes from my brilliance. My Pelaton bike is what is important. From my office I can stare at Vertex. They never fired me, They never fired me. You slaves, servants, peons may wipe my sweat off the floor. You are lucky to touch my sweat, it is a part of MY MAGNIFICENCE. I am on a cleanse, my family and I only eat barley for two months. Why we shit fully formed Amish Furniture !!
It takes tenuous bull shit and purpose-based lying to run a disruptively simple ponzi scheme
Intarcia received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) rejecting the application for ITCA 650 due to gross manufacturing deficiencies. We are in the process of ignoring the FDA’s requests as we remain confident that our investors can be kept in the dark. We, and all of our stakeholders, fully recognize that generic drugs fail to advance medicine and that an outdated osmotic pump technology (already withdrawn from the market once) is unlikely to make a difference.
Real-world outcomes data consistently demonstrate that the majority of patients living with T2D prefer drugs that work, exenatide has remained a third line choice for a small section of the patient population. We have no confidence that patients can follow directions or remember their medicine. Because Diabetes is a big market our investors think we can sell alot of product. Raising expectations, bringing in huge investment dollars fuels our ego.
We all know that AIDs is running rampant in SubSaharan Africa and that we need to control the randy African Bucks spreading the disease. We will implant our pump in these randy bucks while they are healthy to stop AIDS. We all know Africans can't remember to take a pill or self inject. Our Medici pump can be implanted in these people to overcome their limited ability to follow instructions.
It takes alot of lies and tenuous bull shit to scam investors. What kind of company tries to take a failed osmotic pump, change the name to Medici and tell people that it is a "new" approach ? Intarcia has failed to meet the required standards for manufacturing in its journey so far. We’ve continued to push forward, we’ve set aggressive goals, and we have failed to meet the regulatory requirements. We failed the patients who were given pumps of questionable quality during our clinical trials, we failed the investors whose money we spent recklessly, and we failed our partners who paid outrageous upfront monies for a product that will never come to market. In order to bring forth disruptive innovation we need to be comfortable that the " analog” we will follow is BioLux Therapeutics. As Executive Chairman of BioLux I proudly took the company into bankruptcy. When we fail to be approved, it is our mission to spend, spend, spend, for bankruptcy will be our eventual outcome. We remain confident that it took years for Theranos to unravel and we will say anything to keep people in the dark on Intarcia.
Intarcia remains a ponzi scheme built on overinflated claims and will never complete the Series EE round which we claimed would be closed in 2016. Fortunately we scammed Servier in our ex-US collaboration and this will allow us to continue our endless ITCA 650 program. Did I tell you that Bill Gates cried ?
I want to thank our obsequient and devious team at Intarcia for not asking too many questions, and to our stakeholders for their wallets, purses and debit cards (please send in your PIN numbers). I firmly believe that I am the greatest individual in the history of the world, failure brings us one step closer to reaching bankruptcy.
Intarcia received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) rejecting the application for ITCA 650 due to gross manufacturing deficiencies. We are in the process of ignoring the FDA’s requests as we remain confident that our investors can be kept in the dark. We, and all of our stakeholders, fully recognize that generic drugs fail to advance medicine and that an outdated osmotic pump technology (already withdrawn from the market once) is unlikely to make a difference.
Real-world outcomes data consistently demonstrate that the majority of patients living with T2D prefer drugs that work, exenatide has remained a third line choice for a small section of the patient population. We have no confidence that patients can follow directions or remember their medicine. Because Diabetes is a big market our investors think we can sell alot of product. Raising expectations, bringing in huge investment dollars fuels our ego.
We all know that AIDs is running rampant in SubSaharan Africa and that we need to control the randy African Bucks spreading the disease. We will implant our pump in these randy bucks while they are healthy to stop AIDS. We all know Africans can't remember to take a pill or self inject. Our Medici pump can be implanted in these people to overcome their limited ability to follow instructions.
It takes alot of lies and tenuous bull shit to scam investors. What kind of company tries to take a failed osmotic pump, change the name to Medici and tell people that it is a "new" approach ? Intarcia has failed to meet the required standards for manufacturing in its journey so far. We’ve continued to push forward, we’ve set aggressive goals, and we have failed to meet the regulatory requirements. We failed the patients who were given pumps of questionable quality during our clinical trials, we failed the investors whose money we spent recklessly, and we failed our partners who paid outrageous upfront monies for a product that will never come to market. In order to bring forth disruptive innovation we need to be comfortable that the " analog” we will follow is BioLux Therapeutics. As Executive Chairman of BioLux I proudly took the company into bankruptcy. When we fail to be approved, it is our mission to spend, spend, spend, for bankruptcy will be our eventual outcome. We remain confident that it took years for Theranos to unravel and we will say anything to keep people in the dark on Intarcia.
Intarcia remains a ponzi scheme built on overinflated claims and will never complete the Series EE round which we claimed would be closed in 2016. Fortunately we scammed Servier in our ex-US collaboration and this will allow us to continue our endless ITCA 650 program. Did I tell you that Bill Gates cried ?
I want to thank our obsequient and devious team at Intarcia for not asking too many questions, and to our stakeholders for their wallets, purses and debit cards (please send in your PIN numbers). I firmly believe that I am the greatest individual in the history of the world, failure brings us one step closer to reaching bankruptcy.
But you have a kickass home office using other people's money to get it.