Shire CEO Flemming Ornskov is spending $300 million of his cache of cash on a new ophthalmology buyout. Ornskov has pulled the trigger on a deal to snap up Foresight Biotherapeutics, adding a new bolt-on group with plans to take an eye drug into Phase III.
Merck's ($MRK) Ebola vaccine, in development alongside NewLink Genetics ($NLNK), protected 100% of patients from contracting the virus in interim results from an ongoing study, giving rise to hopes it can help prevent future outbreaks.
Welcome to the latest edition of our weekly EuroBiotech Report. European biotechs followed up last week's jaw-dropping $320 million (€290 million) investment in Immunocore with a series of smaller, but nonetheless notable, pitches to line their pockets. Ablynx led the way with an expansion of its immuno-oncology pact with Merck. If everything comes off, Ablynx will find itself €4 billion richer. The snag? Almost all of the money is tied to milestones, with Merck handing over just €13 million upfront. Read the full report >>
The Genentech vets behind South San Francisco-based Denali Therapeutics have recruited one of their former colleagues to join them as CMO and head of development. Denali announced this week that Dr. Carole Ho, former VP of early clinical development at Genentech, was tapped for the job. Read more >>
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AstraZeneca is widening its long-standing relationship with Isis Pharmaceuticals, betting on the company's proprietary approach to RNA-targeted therapies in hopes of expanding its early-stage pipeline.
Shares of Lexicon Pharmaceuticals soared 35% this morning after The Woodlands, TX-based biotech claimed a win in Phase III for one of its lead drugs. The biotech said that telotristat etiprate proved effective against rare cases of carcinoid syndrome, a condition triggered by neuroendocrine tumor cells that causes severe diarrhea.
Baxalta, recently spun out from Baxter, is charging toward its first drug approvals under a new identity, publishing positive results for a bleeding treatment awaiting word from the FDA.
Sorrento Therapeutics, among many companies in the orbit of billionaire entrepreneur Patrick Soon-Shiong, is looking to take a spot in the growing market for knockoffs of the world's top-selling biotech medicines.
Bristol-Myers Squibb has signed on Northwestern University to partner on some early-stage immunotherapy trials.
Amgen shocked the industry in May when it cut ties with an AstraZeneca-partnered psoriasis treatment after spotting alarming rates of suicidal thoughts among patients taking the antibody. But its former collaborator is remaining optimistic about the once-promising treatment, tentatively moving toward an FDA filing.
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An Ohio company has gotten FDA approval for its epilepsy drug Spritam, which it claims is the first to use three-dimensional printing technology. Aprecia Pharmaceuticals says the 3D process produces a formulation of levetiracetam that rapidly disintegrates with a sip of liquid, making it easy to ingest for those who have trouble taking medication.
Northwestern University announced that it has received a five-year, $17.5 million grant from the National Institutes of Health to study an implantable drug delivery system for the prevention of HIV. It's the latest application of drug delivery to solve the classic medical problem of adherence by developing a device that releases medication in a continuous and controlled manner for up to one year.