News

INC Research spells out details on $150M IPO

INC Research has spelled out its IPO plans, looking to raise $150 million through the sale of 8.1 million shares at $17 to $20 a share.

UPDATED: Akebia craters as adverse events cloud positive PhIIb anemia data

Procter & Gamble spinoff Akebia Therapeutics rolled out a batch of promising Phase IIb efficacy data for its experimental anemia drug today, but investors who came in early this year to back the biotech's IPO in the belief that it holds the key to a potential blockbuster were dinged with signs of safety issues.

Pfizer finally abandons all hope in Remoxy, and Durect/Pain Therapeutics feel the sting

Pfizer had hung on to high hopes for the drug Remoxy long after the tamper-resistant pain therapy endured its second rejection at the hands of the FDA in 2011. It even officially re-upped for the late-stage comeback try last fall, committing to see it through a third try. But today Pain Therapeutics says that the pharma giant has finally thrown in the towel, handing back rights to the long-delayed treatment and washing its hands of any further development work.

UPDATED: Sarepta plunges as CEO moves goal line on Duchenne MD drug downfield

Following a meeting with regulators in September, Sarepta spelled out a new set of data that the FDA is looking for in the application for its closely watched Duchenne muscular dystrophy drug eteplirsen, and the biotech says it will have to delay filing--another dramatic turning point for the company this year, which saw its shares plunge 30% on the news this morning.

Merck grabs another 'breakthrough' in PD-1 lung cancer race with Bristol-Myers

With the goal line for lung cancer in sight at the FDA as it races with an ambitious R&D team at Bristol-Myers Squibb, Merck has grabbed bragging rights to the agency's breakthrough drug designation for the checkpoint inhibitor pembrolizumab (Keytruda) for that golden market opportunity.

Baxter wins FDA approval for another hemophilia drug

Baxter widened its hemophilia franchise on the eve of its breakup, winning FDA approval for a drug that treats a rare form of the bleeding disorder.

GlaxoSmithKline cozies up to Five Prime for respiratory R&D

GlaxoSmithKline, facing widespread scrutiny for its underperforming respiratory business, has expanded its relationship with Five Prime Therapeutics, digging in to discover new treatments in the field.

AstraZeneca gets some EU encouragement for its $2B cancer hopeful

European regulators have recommended an early approval for AstraZeneca's new ovarian cancer treatment, welcome news for the company as it defends rosy sales estimates for its oncology pipeline.

Shire CFO to exit in wake of failed AbbVie deal

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)...

NPS Pharma will have to wait another three months for an FDA OK

The FDA has postponed its final decision on an orphan drug from NPS Pharma, taking its time with the company's application and delaying the fate of a closely watched therapy.

Google Ventures taps Boston brains for EU unit, Big Pharma VCs back Forendo, Swiss IPO halted

In this week's EuroBiotech Report, Google revealed further details of its $100 million (€79 million) European venture capital unit, which is hunting for biotechs and startups in other sectors from its digs in London. And more.

Boehringer, Vitae survive first clinical challenge in a crowded Alzheimer's race

The newly public Vitae reported after the market closed on Thursday that the oral BI1181181/VTP-37948 hit the goal posts on a key biomarker for BACE, or beta secretase, flushing a prime suspect behind the disease without triggering any red safety flags in a pair of Phase I studies among a small group of healthy volunteers.

In biotech's boardrooms, there are 10 men for every one woman, report says

The average board of directors in the biotech world is roughly 90% male, according to a new analysis, and more than half of all industry boardrooms host no women whatsoever, striking numbers that illustrate a sector that struggles with diversity.

Women's health biotech Forendo raises $15M from some pharma giants

Finland's Forendo Pharma has pulled in €12 million ($15.2 million) to advance its treatment for a painful uterine condition, drawing the support of a few major drugmakers.

Novartis racks up a new slate of promising PhIII data for secukinumab

Just days after an FDA advisory group gave its unanimous blessing to Novartis for secukinumab (AIN457) as a new treatment for plaque psoriasis, the pharma giant has produced a new slate of Phase III data backing the IL-17 therapy for ankylosing spondylitis.

Lilly bets another $375M on Zymeworks' two-pronged cancer tech

Eli Lilly is expanding its relationship with Canadian biotech Zymeworks, signing a broader deal that promises up to $375 million in milestones for its partner as the two collaborate on cancer immunotherapies.

Celgene adds $1B-plus immuno-oncology deal, buyout option for Sutro

Close to two years after Celgene closed its first development deal with Sutro Biopharma, the prolific partnering machine at the big biotech has come back and taken an option on buying the company and its antibody-drug conjugates and bispecifics. And Celgene is expanding their collaboration to include immuno-oncology drugs, the hottest R&D field in biotech.

J&J heads to Texas with its R&D farm system, scouting for biotech startups

Johnson & Johnson is expanding its network of biopharma incubators, taking to Texas with a plan to host as many as 50 local biotech startups.

Pfizer, Novartis chip in on $17M round for an Atlas upstart focused on pain

The busy partners at Atlas Venture have gathered together a $17 million Series A for their latest biotech creation: Quartet Medicine, which pairs together two scientific founders who have been exploring the frontiers of pain management. This is Atlas' fourth maiden round for one of their biotech launches in a little more than a week, with Cambridge, MA-based Quartet joining Unum, Raze and Bicycle in a rare streak of startups. And there are likely some more to come.

Proteon banks $61M in a down-sized IPO as it moves on without Novartis

Proteon Therapeutics priced its IPO below its expected range, clearing $61 million to pay the way for its investigational vascular drug.