News

Osteoarthritis biotech Carbylan swings for a $75M IPO

Palo Alto, CA's Carbylan Therapeutics has set terms for an IPO worth $75 million at its midpoint, working to get a treatment for osteoarthritis pain through late-stage development.

Booming biotechs bank $2.7B in follow-on cash

Much of the focus in biotech's recent boom has been on the ease with which companies are making their way onto Wall Street. And, over the past week, a host of drug developers illustrated the benefits of being a publicly traded company, raising roughly $2.7 billion in follow-on offerings to bankroll R&D and potential acquisitions.

The Medicines Co.'s FDA-rejected cardio drug finds EU success

European regulators are recommending approval for The Medicines Company's cangrelor, setting up an overseas nod for a blood-thinning drug rejected by the FDA last year.

COO Caforio named incoming BMS chief

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 Michael Gibney (email | Twitter)...

GlaxoSmithKline's Ebola vaccine rolls into Phase III as outbreak simmers

GlaxoSmithKline has shipped out the first batch of its in-development Ebola vaccine, expecting to kick off late-stage studies in the coming weeks.

Innovent's $100M deal signals how biotech is ready to explode in China

China biotech Innovent's recent success in raising $100 million in venture capital to help it build a pipeline of biosimilars could be a signal of how the industry may be set to explode in a country about to invest $6.45 billion in startups.

EU IPOs obliterate recent highs, U.K. VC funding tops $700M, Woodford backs microbiome play

In this week's EuroBiotech Report, data arrived to back up what everyone knew: 2014 was financially a much better year for European biotechs. The IPO window finally opened; 15 companies jumped through and €719.8 million ($835.3 million) of public investors' money landed in European biotechs' bank accounts. And more.

Astellas' new antibiotic marches toward FDA approval with panel nod

A group of independent FDA advisers voted in favor of a new anti-infective from Astellas Pharma, setting the stage for a likely approval.

CytRx PhIIb cancer survival data fail to impress

CytRx released some unimpressive overall survival rates from its Phase IIb study of its aldoxorubicin compared with doxorubicin for soft tissue sarcoma.

AstraZeneca's $1.3B gout drug comes under EU scrutiny

The European Medicines Agency has accepted AstraZeneca's application for lesinurad, a gout treatment with a checkered efficacy record, stoking the company's hopes that it can make the drug into a blockbuster.

As PhIII data looms, Nektar sets the stage for a big expansion

This is a big year for South San Francisco-based Nektar Therapeutics. And the company is making some big expansion plans, telling the local San Francisco Business Times that it has lined up a new lease on extra space as it sets the stage for adding up to 150 staffers.

Kite expands its immuno-oncology brain trust in the CAR-T footrace

Kite Pharma, contending with a slew of rivals in the newfangled field of immuno-oncology, has aligned itself with a pioneer in the field, teaming up with an Israeli university to work on treatments that train the body's own defenses on cancerous growth.

The CAR-T brain war: Scientific trailblazer inspires a $45M biotech startup

Martin Pule, who was directly involved in some of the pioneering discovery work being done on engineering T cells into cancer attack vehicles, today takes the role of chief scientific officer behind Autolus, the latest CAR-T upstart to join the ranks of some of the most disruptive players in cancer drug R&D.

China's Innovent banks $100M to cash in on the biosimilar boom

Innovent Biologics has raised $100 million in venture cash in hopes of becoming the premier maker of biotech drugs in its native China, advancing a pipeline of biosimilars and proprietary treatments.

Scandal-plagued Salix said to consider a sale

Salix Pharmaceuticals, marred by an embarrassing inventory scandal, has hired an investment bank to help it find some strategic alternatives, Reuters reports, including an outright sale. 

Obama puts personalized medicine in the spotlight with a primetime pitch

Speaking before a global audience of millions, President Barack Obama threw his support behind the potential of personalized medicine, skimping on details but hinting at a federally funded R&D effort in keeping with the $4.5 billion BRAIN Initiative.

Actavis and the future of discovery-averse 'growth pharma'

Brent Saunders, Actavis chief executive and architect of four major pharma deals, doesn't hate drug discovery. He just doesn't want his company to do it.

Little Curis leaps on the immuno-oncology R&D bandwagon

The small, Lexington, MA-based biotech Curis is jumping onto the increasingly popular immuno-oncology bandwagon, handing over a chunk of its stock and promising more than $100 million in milestones to Bangalore-based Aurigene if they can successfully take a small molecule approach to the cancer field and advance a new program through preclinical and clinical development and on into the market. And it's getting a second targeted small molecule for cancer that is intended to hit IRAK4.

UPDATED: Novartis scores the first victory in a blockbuster psoriasis race

Novartis picked up FDA and European approvals to sell its secukinumab as a treatment for psoriasis, the first steps in the company's plot to build a global anti-inflammatory contender and outpace its rivals.

Gene therapy pioneer ReGenX fuels R&D, hiring spree with $30M VC round

Cashing in on the current enthusiasm in venture circles for gene therapy upstarts, ReGenX has snagged a $30 million round that will finance a round of new hires as it sets sail for the clinic with lead programs for rare diseases of the central nervous system.