News

GSK and Novartis reshape EU biotech, Celgene and Hyperion in Euro deals, U.K. cell therapy grows

In the latest edition of our weekly EuroBiotech Report, the card shuffling at GlaxoSmithKline and Novartis is raising questions about the future of several companies. We take a look at what is in store for ThromboGenics and Valneva now that their partners have swapped assets. And more.

Juno wraps up a $176M A round as it hits the gas on its CAR-T contender

A week after the FDA lifted a clinical hold on a trial of its lead cancer candidate, startup Juno Therapeutics has closed its overstuffed $176 million Series A, drawing cash from Arch Venture Partners, Amazon founder Jeff Bezos and others.

Hyperion bets up to $570M on diabetes biotech Andromeda

Orphan drug outfit Hyperion Therapeutics has struck up a deal to acquire Israel's Andromeda Biotech, handing over as much as $570 million in cash and stock with eyes on a Phase III diabetes treatment.

Celgene shells out $710M for a PhIII Crohn's drug with billions on the line

As Big Pharma trades billions for whole business units, the deal-inclined Celgene has quietly paid $710 million to get its hands on a late-stage Crohn's disease contender in a deal that could spiral out to 10 figures.

J&J snags FDA OK for rare blood disorder drug siltuximab

J&J has won FDA approval for a new drug that fight's a rare blood disorder known as multicentric Castleman's disease.

AstraZeneca continues to chop back, spotlights immuno-oncology PhIII

AstraZeneca is continuing its campaign to refashion its image as it tries to shake off past setbacks and unsuccessful units and turn analysts' attention to its brightest pipeline prospects, particularly in cancer.

An international biotech tackles CRISPR gene editing tech with $25M bankroll

A hybrid international biotech upstart with deep U.S. academic roots, a company base in Basel and a plan to grow its research operations in London has landed a $25 million A round to launch another effort at gene editing using CRISPR/Cas9 technology--one of the hottest emerging fields in drug development.

GSK's R&D staff hit with trade rumors spurred by Novartis' cancer pact

GlaxoSmithKline hasn't spelled out exactly how its big deal with Novartis will impact individual workers. But the rumor mill has it that more than 100 investigators in cancer R&D in Collegeville, PA, are about to become Novartis workers.

Novartis, GSK deal puts the spotlight on a narrowing R&D focus

The big trend in Big Pharma R&D has been to cut back significantly in key areas where they felt they faced extraordinarily high risks--a particular problem in the central nervous system field, where trial failures have been more the norm than the exception.

Spectrum touts PhII cancer data, plans NDA

Shares of Spectrum Pharmaceuticals surged on the news that its experimental injectable drug for blood cancer looked promising in a Phase II study.

Amgen beats a path to the FDA, looking for an early approval of leukemia drug

Amgen is getting aggressive with one of its midstage leukemia drugs. In its earnings call with analysts the big biotech's R&D chief called out blinatumomab, saying that recent Phase II data might warrant an early approval.

Kala reels in $22.5M to get its next-gen eye drops into PhIII

Kala Pharmaceuticals, co-founded by MIT biotech luminary Robert Langer, has closed a $22.5 million B round, cash the company says will help advance its novel approach to eye treatments.

Shooting for IPO glory, Alder cites trial success with migraine drug

A few weeks after Seattle-based Alder Biopharmaceuticals spelled out plans to raise $115 million in an IPO designed to propel them into the ranks of a fully diversified biotech company, the biotech has released some key data points from its proof-of-concept study on its experimental migraine therapy.

Allergan fashions a poison pill as raiders at Valeant promise to gut R&D

Allergan didn't waste any time in coming up with a poison pill to help thwart a hostile, $46 billion takeover attempt by Valeant CEO J. Michael Pearson and his hedge fund ally William Ackman. The board issued a shareholder rights plan on Tuesday evening giving its general investors the right to buy discounted shares once someone accumulates a threatening stake in the company of 10% or more.

Epizyme jumps on $4M payday

Shares of Cambridge, MA-based Epizyme jumped 10% this morning after the company announced that it had won a $4 million payment from GSK after hitting the third of the three histone methyltransferase targets in their collaboration.

VC groups put up $165M for a trifecta of biotech rounds

A Detroit-based biotech has landed a $59.5 million round to continue its work on a nucleic acid-based DNAi cancer therapy now in a mid-stage trial. ProNAi Therapeutics CEO Mina Sooch says that's enough cash to get the company through 2016, with plans to pursue partnership talks as well as a discussion with the FDA about potential ways to accelerate the approval process for their lead therapy.

AbbVie heads to the FDA with its hep C combo in a race with Gilead, Merck

AbbVie has submitted an FDA application for its promising all-oral hepatitis C treatment, expecting approval this year as it prepares for a three-way race with perceived leaders Gilead Sciences and Merck.

GlaxoSmithKline punts its cancer R&D work in Big Pharma swap and shop

Novartis, GlaxoSmithKline and Eli Lilly have hammered out a pact to swap, sell and partner on a group of four different divisions, realigning the corporate and marketing landscape for each of the big three pharma players. 

Analysts brace for a brawl as Valeant moves ahead with $46B Allergan bid

Activist investor William Ackman has allied himself with biopharma raider Michael Pearson at Valeant to buy out Allergan, the maker of Botox, which has been actively hunting down its own buyouts, according to a report Monday evening from The Wall Street Journal.

FDA OKs Lilly's blockbuster hopeful ramucirumab for stomach cancer

The bull case for Eli Lilly and its long-stunted R&D operation rests largely on a potential string of FDA approvals for the much-hyped ramucirumab, and the Indiana drugmaker picked up its first, clearing the treatment to treat stomach cancer.