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Oncolytics Biotech, Inc. Message Board

  • carrivechio carrivechio Dec 9, 2012 11:07 AM Flag

    M.D Anderson Conflict of Interest alleged against President.

    "Dr. Ronald DePinho, president of the University of Texas M.D. Anderson Cancer Center, has asked to exempt numerous drug companies in which he has financial ties from an institutional conflict of interest policy intended to protect patients.

    DePinho has asked his UT System bosses for waivers of certain provisions of the policy to allow as many as 10 for-profit companies and two not-for-profit institutions at which he has conflicts to sponsor current or future research at M.D. Anderson, according to a copy of the May 1 request obtained by the Chronicle. A system advisory committee is reviewing the request."

    "Grassley said M.D. Anderson researchers' work could be tainted by the perception that certain companies were favored by their boss."

    Ownership interest: DePinho and/or his wife, Dr. Lynda Chin, have an ownership stake in seven companies: Agios Pharmaceuticals, Aveo Pharmaceuticals, Karyopharm Therapeutics, Metamark Genetics, Eden Therapeutics, Elan Corp and Epizyme.

    Compensation: DePinho and/or his wife received $10,000 or more in 2012 from 12 companies: Agios Pharmaceuticals, Aveo Pharmaceuticals, Boehringer Ingelheim Pharmaceuticals, Dana Farber, Eden Therapeutics, Enzon Pharmaceuticals, Epizyme, GlaxoSmithKline, Karyopharm Therapeutics, Metamark Genetics, Plutus Holdings 2 Limited and the Sidney Kimmel Foundation.

    Future ties: DePinho's request lists 10 companies that he and/or his wife may receive future compensation from: Agios Pharmaceuticals, Aveo Pharmaceuticals, Karyopharm Therapeutics, Eden Therapeutics, Epizyme, Metamark Genetics, Merck, Sanofi Aventis, Sidney Kimmel Foundation and Dana Farber.

    By Todd Ackerman, Eric Berger | September 16, 2012 | Updated: September 19, 2012 12:37pm
    Houston Chronicle

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    • ``In a letter made available Oct. 23, Dr. Kenneth Shine, the UT (MD Anderson Cancer Center) System’s vice chancellor for health affairs, granted the waiver for Massachusetts-based companies Aveo Pharmaceuticals, Karyopharm Therapeutics and Metamark Genetics Inc. and said DePinho's holdings in them will be placed in a blind trust, the Chronicle reports.

      M.D. Anderson research involving companies DePinho has an interest in will include "elaborate, detailed" provisions, Shine told the Chronicle. DePinho has divested or will divest most of interests in the other companies named in his request, the Chronicle reports.``

      • 1 Reply to carrivechio
      • Interesting post. I watched this individual interviewed on CNN yesterday regarding cancer research. Didn't really say much other than promote his own product.
        Along the same line there was a very interesting article in Bloomberg Business Week (issue Nov. 26-Dec.2) regarding insider trading of companies involved in promising drug trials. It explains how Dr.'s involved in the trials are providing condifidential information to analysts who then make large sums of money either shorting or buying the stock before the retailer knows what is happening. The article suggests this is a big problem within the scientific community. Disgusting and scarey for the average investor. Hopefully ONCY isn't involved in any of this.

        Sentiment: Strong Buy

    • what does any of this have to do with ONCY?

    • ``During the last couple of weeks Todd Ackerman and I have been reporting on a controversial $20 million grant received by the University of Texas M.D. Anderson Cancer Center and Rice University.

      The story broke on May 11 when Nobel laureate Al Gilman resigned as chief scientific officer of the Cancer Prevention and Research Institute, which has 10 years to appropriate $3 billion in taxpayer funds on cancer research.

      Gilman’s primary concern is that M.D. Anderson’s part of the proposal, which was to be funded up to $18 million, was approved by CPRIT “without scientific review, without a score, and in record time.” In other words, the grant review process was done outside his purview and, in his view, a questionable manner.

      M.D. Anderson’s part of the grant has Dr. Lynda Chin as its principal

      Path: investigator. Chin, a well-regarded scientist, is also the wife of Dr. Ronald DePinho, who M.D. Anderson hired last year to be its new president. Chin and DePinho are also co-founders of a modestly successful biotech company, AVEO Oncology.

      The grant has proven problematic. M.D. Anderson has offered to resubmit it to CPRIT after questions were raised about it and the approval process, and CPRIT has agreed to re-review it. The UT System is also now probing the process. Chin’s involvement in the grant has heightened concerns among some M.D. Anderson faculty about how DePinho and Chin handle conflicts of interest. Many have contacted Todd and myself to express such concerns.

      Ok, so that’s a long way of saying there is, at a minimum, a perception among some faculty at M.D. Anderson that DePinho has conflicts of interest.`

      By Eric Berger
      Houston Chronicle

      • 1 Reply to carrivechio
      • ``AVEO Pharmaceuticals was the company that couldn't win this year for trying. Within the past two weeks, it and its partner Astellas Pharma have submitted a new drug application for Tivozanib, their experimental renal cell carcinoma treatment. The initial data on the drug looked promising -- comparing it not against a placebo, but Onyx Pharmaceuticals' Nexavar, and showing a modest progression-free survival benefit. Unfortunately, between a skeptic FDA that expressed concerns about long-term survival trends , and expectations that PFS would be considerably higher from an investors' perspective, expectations on Tivozanib have dropped dramatically.``

        ``Today, I'm going to highlight one biotech company that I feel will have a miserable 2013: Synageva BioPharma .

        Synageva's most advanced drug, SBC-102, is focused on treating lysosomal acid lipase deficiency and is currently in phase 1/2 of the clinical trial process despite receiving fast-track status. Synageva is purposefully targeting unmet medical needs in order to remove competitors from the picture, but with the company sporting a valuation of $1.15 billion, and just one drug in early clinical trials, I'd hardly say that success is a given! We'll be lucky if we hear from Synageva more than once in 2013 regarding its SBC-102 data, and I highly doubt any of its four preclinical trials move into the clinical stage next year.``

        By Sean Williams
        December 7, 2012
        Motley Fool
        The Worst-Performing Biotechs in 2012 and 1 to Avoid in 2013

    • ``DePinho made his waiver request about three weeks before Aveo Oncology, one of the companies named, announced the launch of a clinical trial to test a new cancer drug at multiple centers around the country. A May 23 Aveo news release said M.D. Anderson professor George Blumenschein was the trial's lead researcher, but the cancer center denied the claim after learning of it and no trial was ever begun there.``

      By Todd Ackerman, Eric Berger | September 16, 2012 | Updated: September 19, 2012 12:37pm
      Houston Chronicle

 
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