The product improved GI function and reduced related complications, including life-threatening events, in a Phase III study despite an initial futility analysis. An exec stayed confident, acquired the product and plans to initiate a confirmatory trial.

Multinational drug makers continue shuffling their senior management in Asia as Gilead Sciences has a new president for Japan, and so does Bristol-Myers Squibb. WuXi NextCode hires a new chief digital officer.

Recent executive-level company changes and promotions in the biopharma, medical device and diagnostics industries.

Having raised a precedent-setting $450m venture capital round in January 2015, Moderna is well on its way to a planned $600m additional fundraising. The privately held company is keeping quiet about what it's doing with all that cash. Tioma, Nutrina and Avelas are among other firms receiving VC financing.