Sanofi and Innate Pharma team up on anticancer ADCs

Sanofi has reached out to its French neighbor Innate Pharma to collaborate on armed antibody treatments, borrowing the biotech's technology to craft new treatments for cancer and inflammatory disease.

Takeda inks a $270M stem cell deal with Kyoto University

Takeda has struck up a 10-year partnership with Japan's Kyoto University to develop potential stem cell treatments for an array of diseases, committing about $270 million to the effort.

UPDATED: The FDA challenges Genervon to release data from controversial ALS study

Yesterday, FierceBiotech reported how an expert review of a tiny study for Genervon's ALS drug GM604 had raised serious questions about the data that were provided by the company, which has aroused a furious campaign by ALS sufferers to gain an accelerated FDA approval. Today, in a rare break from the agency's standard "no comment" approach to experimental drugs, the agency called on the biotech to come clean and publicly release the actual results.

AstraZeneca's '$3B' lung cancer drug impresses in a Phase II race with Clovis

AstraZeneca's in-development lung cancer pill extended progression-free survival by more than a year in new Phase II data, a positive sign for a drug the company believes can bring in $3 billion in annual sales at its peak.

Drew Fromkin tapped to lead Langer's Blend Therapeutics

Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Eric Sagonowsky (email) or...

Athersys tanks as its stem cell therapy flunks a Phase II stroke trial

Athersys' in-development stem cell treatment failed to beat placebo in a Phase II trial on stroke patients, demolishing the company's value as management digs for a positive spin.

Biotech venture investing continues to sizzle in a big, $1.7B Q1

With crossover investors still crowding into the biotech field to help launch a wave of new IPOs, the industry recorded $1.7 billion in new venture funds in the first quarter, according to The MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.

Atlas Venture unveils a $280M pure play biotech startup fund

Atlas Venture is unveiling a new $280 million fund today that will double down on its bet on cutting-edge drugs. Atlas relied on two close industry giants--Amgen and Novartis--and a mix of old and new investors to help raise a fund that easily broke through its $250 million cap.

Israel awaits $250M fund, ThromboGenics spins out oncology asset, MolMed licenses CAR-T

In this week's EuroBiotech Report, OrbiMed Advisors is in the early stages of preparing a second Israel-focused fund that could transfer $250 million (€235 million) from the pockets of investors into the bank accounts of local life science players. And more.

Medicines Co.'s cangrelor finally lines up for FDA approval

A panel of FDA advisers reversed its earlier derision and voted in favor of The Medicines Company's long-delayed blood thinner, spelling a likely approval for the drug after years of setbacks.

Actelion launches Phase III MS test for ponesimod

Buoyed by the success of its PAH franchise, Switzerland's Actelion says it has begun a Phase III study of its in-house drug ponesimod for multiple sclerosis.

MolMed picks up CAR-T asset from hot Italian research institute

MolMed has become the latest to buy its way into the CAR-T race. The deal sees it pick up assets from an immune-gene therapy CAR-CD44v6 project run by a group at San Raffaele Scientific Institute, the Milan-based research center that struck a deal with Biogen in January.

Galapagos rolls the dice on a $150M IPO, gambling on rheumatoid arthritis drug

A day after Galapagos rolled out promising results for its oral rheumatoid arthritis drug filgotinib on Tuesday, the Belgian biotech confidently rolled out its plan to raise $150 million in an IPO on Nasdaq. And with topline results for a follow-up study expected in a matter of days, Galapagos says it should be poised to jump into Phase III with a $200 million licensing deal from AbbVie expected before the end of this year.

Targacept tanks (again) after its last surviving drug program flops

The litany of clinical trial disasters that has played out at Targacept over the past three years continues this morning with the news that its last remaining pipeline asset failed a Phase I/II study for diabetic gastroparesis. And as has happened so many times before, the biotech's share price took another nasty tumble, dropping 22%.

Jeremy Levin's back, building a rare-disease biotech with failed drugs

Former Teva CEO Jeremy Levin has taken the pilot's seat at a stealth biotech devoted to rare brain diseases and is piloting a course straight into the industry spotlight.

Buzz: OrbiMed mulls $250M Israeli investment fund

OrbiMed Advisors is reportedly laying the groundwork for a second Israeli life science investment fund. And after four years of positive results for its initial government-partnered foray into the country, the big-name biotech VC shop is prepared to try to raise $250 million (€235 million) without state support.

Mystery suitor nears $150M deal to access Intec's 'accordion pill'

Intec Pharma has revealed it is nearing a deal that could net it $150 million (€142 million). The negotiations with the as-yet-unnamed major pharma company relate to a project involving Intec's "accordion pill," an oral dosage form designed to deliver drugs that suffer from low solubility or poor colonic absorption.

Pharmalink wraps up PhIIb trial early after interim efficacy data impresses

Pharmalink has stopped a Phase IIb trial of its primary IgA nephropathy treatment early after it met its primary endpoint in a planned interim analysis. The success makes Pharmalink a rare example of a private biotech with an unpartnered, Phase III-ready asset, characteristics that inevitably lead to talk of IPOs and deals.

ThromboGenics spins out Roche-rejected cancer drug

ThromboGenics is trying to give the TB-403 cancer drug Roche walked away from in 2012 a new lease of life. The arrangement sees ThromboGenics teaming up with life science research institute VIB to create a new biotech focused on shepherding the drug through clinical development.

UPDATED: Amgen wins a much-needed FDA OK--but little respect--for heart drug ivabradine

Amgen has won an FDA approval for the heart drug ivabradine, which will hit the market as Corlanor. This is the first approval for a new class of drug aimed at preventing hospitalization for a deteriorating heart, slowing down heart rates, and it's also the first in a badly needed string of approvals Amgen is counting on to finally quiet critics of its pricey R&D operations.