News

Report: Baxalta's $2B plot to buy Ariad broke down over price

Last week's buzz that Baxalta, angling to shake off some unwanted buyout attention from Shire, had set sights on Ariad Pharmaceuticals sent the latter company's shares soaring. But negotiations between the two have since fallen apart, according to Bloomberg.

Adaptimmune pockets GSK payouts after tripling size of TCR trial

Adaptimmune has bagged two milestones from GlaxoSmithKline. The checks landed in Adaptimmune's bank account after it tripled the size of a Phase I/II synovial sarcoma trial of its NY-ESO-1-targeting T-cell receptor (TCR) therapy on the strength of data from the initial cohort.

Tesaro gets a green light for rolapitant, triggering Merck showdown

The FDA has given Tesaro a green light to start marketing rolapitant to help prevent some of the common side effects of chemotherapy. And now Tesaro will wage a David-vs.-Goliath battle for market share with a dominant Merck.

Shire and Sangamo break up their gene-editing partnership

Shire and Sangamo Biosciences are going their separate ways after three-plus years of collaboration in gene editing, with each company hanging on to the programs best aligned to its goals.

Amgen's bone drug beats Lilly's Forteo in a Phase III osteoporosis trial

Amgen's investigational bone-growing drug met its main goal in a late-stage trial, clearing its first Phase III hurdle by besting an Eli Lilly blockbuster for osteoporosis.

AstraZeneca backs $80M round for ADC's antibody warhead tech

In June, Chris Martin took the helm at Spirogen spinoff ADC Therapeutics, where he's been working on a next-gen armed antibody pipeline. And he's just followed up with a whopping $80 million venture round that's designed to get the cancer company through the next three years--and possibly on into an IPO along the way.

In neuroscience swap, Amgen buys into Novartis' BACE drug program for Alzheimer's

Amgen is buying into Novartis' early-stage BACE program for Alzheimer's, paying an unspecified upfront and milestones in exchange for a cut of the program, which looks to slash the production of a key toxic protein widely viewed as a prime suspect in the development of the memory-wasting ailment.

Sanofi punts a $200M Ardelyx deal and hands back some preclinical drugs

Sanofi is backing out of a collaboration with Ardelyx that could have paid out nearly $200 million, returning a handful of candidate treatments for high phosphates in patients with kidney disease.

Trevena rockets up as post-'tummy tuck' pain drug clears Phase II

Trevena's treatment for pain following abdominoplasty met its goals in a Phase IIb study, clearing the way for late-stage development and sending the company's share price soaring.

Bristol-Myers and AbbVie speed toward FDA approval with a 'breakthrough' cancer drug

A new drug for blood cancer from Bristol-Myers Squibb and AbbVie is on the fast track to FDA approval, winning a priority review to treat multiple myeloma.

Alexion wins a pair of EU approvals to build out its rare disease ranks

Alexion Pharmaceuticals is no longer a one-product company, winning tandem European approvals for two rare disease drugs it hopes will mimic the success of Soliris, the world's most expensive treatment.

Gene therapy upstart Audentes bags a new program in buyout

Late last year San Francisco-based gene therapy upstart Audentes Therapeutics gathered a $42.5 million venture round from some A-list investors with plans to use the money to bankroll some new deals. Today, it made good on the plan and pulled back the covers from a buyout that gives the little biotech player a third preclinical program as it tackles a hot field.

AstraZeneca auctions off troubled psoriasis drug to Valeant in $445M deal

Three months after Amgen washed its hands of the psoriasis drug brodalumab, its development partner AstraZeneca has found the exit door as well. The pharma giant auctioned off the Phase III-complete therapy to the wheeler dealers at Valeant in exchange for $100 million upfront, $170 million in prelaunch milestones and another $175 million in sales bonuses.

CRISPR player Intellia looks IPO-ready after $70M round

Late last year, Atlas Venture joined hands with Novartis to launch gene-editing upstart Intellia and then swiftly followed up with a formal alliance to use CRISPR/Cas9 tech to fashion a new wave of therapeutics. Now, just 8 months after the pact, Intellia has gone back to the well, drawing up $70 million in cash from a group which includes some active crossover investors that have been instrumental in shepherding a flock of biotechs into the busy IPO market.

Sanofi buys into Google's biotech future, pairing up in diabetes

Sanofi is lending its weight to Google's ambitions in life sciences, joining the tech giant's recently unleashed healthcare division in hopes of developing new technologies to help manage diabetes.

Intercept wins priority review for OCA

The FDA granted Intercept's obeticholic acid (OCA) application for primary biliary cirrhosis a priority review, setting the PDUFA date at February 29, 2016.

Bayer takes its heart-failure drug into Phase III after a mid-stage success

Bayer is pushing forward with a new heart-failure treatment that could eventually contend with Novartis' blockbuster-in-waiting Entresto, mapping out a wide Phase III program for its oral drug.

Bristol-Myers forges $1.25B deal to beef up fibrosis pipeline in Promedior buyout

Bristol-Myers Squibb has landed the rights to buy out Lexington, MA-based Promedior, paying $150 million upfront and committing a total of $1.25 billion to the deal--if the biotech's fibrosis drug comes through in Phase II studies.

Step 3: After an immunotherapy makeover, CytomX files $100M IPO

After remaking its pipeline to fit one of the hottest fashions in biotech and engineering a classic $70 million crossover round, South San Francisco-based CytomX is taking the inevitable next step with a $100 million IPO filing.

Amicus bags PhIII rare disease drug in $847M Scioderm buyout

Amicus Therapeutics has stepped in to snap up the late-stage rare disease biotech Scioderm, beefing up its orphan drug pipeline in exchange for $229 million in stock and cash along with a promise of up to $618 million more for meeting a slate of milestones.