News

Ariad sells off a share of Iclusig for a shot at $200M in R&D cash

Ariad Pharmaceuticals has inked a deal with PDL BioPharma, trading a long-term royalty on its only marketed drug in exchange for money to develop another.

The big question for Gilead: Who are you going to buy?

Last night Gilead execs basked in the glow of market-bending sales numbers, backed by the continuing megasuccess of its two hep C drugs, Harvoni and Sovaldi, which racked up close to $5 billion in revenue for the second quarter. So naturally analysts want to know how they plan to spend the cash.

Foresite Capital reloads with a $450M biotech venture fund

Venture investor Foresite Capital closed a $450 million new fund, its largest ever, and is setting out to find the next generation of promising drug developers.

Sanofi's diabetes combo clears a clinical hurdle in a race with Novo Nordisk

Sanofi's combination of a Type 2 diabetes treatment and a long-acting insulin met its main goal in a Phase III trial, the company said, setting up an FDA application later this year.

Boehringer bets up to $730M on a new lung cancer drug

Boehringer Ingelheim has agreed to hand over as much as $730 million to South Korean drugmaker Hanmi Pharmaceutical in exchange for the rights to a midstage treatment for lung cancer, betting the drug can stand out in a crowded field.

Novartis spins out 3 drugs to a biotech startup with $119M in VC backing

Every Big Pharma company has its own way of dealing with experimental meds that no longer fit in their pipelines. For Novartis, the latest deal involved handing off three therapies to Mereo, a London-based upstart that is being launched with $119 million in financing from a pair of big British biotech investors and a development deal in place with the CRO Icon.

Erytech pushes ahead with plan to file IPO on Nasdaq to fund cancer pipeline

Erytech is poised to become the latest in a long line of European biotechs to head to Wall Street in search of cash. The proposal marks an escalation of the cancer biotech's long-running flirtation with U.S. investors, which has already seen it set up on the OTC market and tap stateside sources for its previous fundraising round.

Europe's public biotechs blast past 2014 fundraising total in just 6 months

Biotechs listed on European stock exchanges have raised more money in the first half of 2015 than in all of last year, according to a report by Biocom. Over the first 6 months of 2015, €3 billion ($3.3 billion) flowed into Europe's 161 listed biotechs, one-quarter more than they added to their coffers in all of 2014.

Roche's persistence in Alzheimer's moves AC Immune a step closer to an IPO

Roche's willingness to continue plugging away with Alzheimer's programs despite setbacks has moved AC Immune a step closer to filing for an IPO. The Big Pharma has decided to advance the Alzheimer's treatment it licensed from AC Immune into Phase III, giving its partner the confidence to consider tapping public markets for cash.

Sprint licenses tumor metabolism program to Bayer in €190M deal

Sprint Bioscience (STO:SPRINT) has entered into a cancer research collaboration with Bayer, handing over the rights to an early-stage tumor metabolism program in return for €190 million ($210 million) in upfront and milestone payments.

Patrick Soon-Shiong: NantKwest is starting down the path to conquering cancer

Patrick Soon-Shiong made several fortunes based on his understanding of cancer and drug development, most recently in today's multibillion-dollar IPO for NantKwest. And now he plans to put the IPO money to use in pursuit of a new strategy in immuno-oncology R&D--the single hottest field in the industry.

Progenics' orphan cancer drug picks up the FDA's 'breakthrough' tag

Progenics Pharmaceuticals' in-development treatment for an ultrarare form of cancer secured the FDA's breakthrough-therapy designation, promising a smoother path through the regulatory process.

Immunomedics blasted after UCB lupus PhIIIs fail

UCB says that its two Phase III trials for their lupus drug epratuzumab failed. The developer said that neither of the two doses used in the identical, late-stage trials proved statistically superior to a placebo.

Cutting-edge research centers back Deerfield's $550M biotech venture fund

Some of the world's top research institutions are backing a new, $550 million biotech venture fund from Deerfield Management.

Esperion looks to disrupt the PCSK9 race with new cardio data

Esperion, developing a pill it hopes can eventually cut in on some would-be blockbusters, posted new study results showing that its drug both reduced bad cholesterol and improved inflammation.

UPDATED: Billionaire Soon-Shiong scores a record-setting $2.6B IPO for NantKwest

Last year Conkwest was just another small, largely unknown biotech with big plans in immuno-oncology. But after biotech billionaire Patrick Soon-Shiong bought in and took the CEO title, renaming the company NantKwest, it's now leaping onto the scene with a record-setting IPO that establishes a market cap baseline at a whopping $2.6 billion.

Merck signs a $605M deal to bulk up in cancer immunotherapy

Merck, maker of the pioneering immuno-oncology treatment Keytruda, is investing in the next generation of cancer therapies that harness the body's natural defenses, agreeing to pay as much as $605 million for an Israeli biotech at work in the field.

UPDATED: Struggling Sanofi paying $1.8B to partner with Regeneron on immuno-oncology

A few months after conceding that its own in-house attempt to develop new cancer drugs had flopped, French pharma giant Sanofi will now let its close development partner Regeneron lead the way on a blockbuster collaboration on immuno-oncology--which includes an early-stage checkpoint inhibitor.

Industry Voices: Crossover investors find winning strategy with pre-IPO healthcare companies

Non-VC or crossover investors are helping drive the rebound in IPOs among healthcare companies. And it's proving to be a winning strategy for both investors and the newly public companies.

Boehringer dumps its Alzheimer's BACE pact with Vitae

Shares of Vitae Pharmaceuticals dropped 5% this morning after the biotech reported that Boehringer Ingelheim had decided to dump its collaboration on a new BACE program for Alzheimer's.