After largely abandoning the field back in 1999, Roche is diving back into antibiotics, teaming up with Cambridge, U.K.'s Discuva to discover and develop new treatments for deadly infections using the biotech's novel platform.
Unlike every other Big Pharma company in the world, Novartis tends to prefer to communicate rather selectively when it chops a facility here or winnows out its ranks over there in its global structure.
Days after word got out that Abingworth was nigh on closing its latest raise, the London-based venture capital stalwart has signed the final line on an upsized $375 million fund. Now, after coming through with some high-profile exits in recent years, Managing Partner Stephen Bunting said his firm is looking for the next generation of biotech winners.
Valeant CEO Michael Pearson has never been a fan of drug R&D. Openly caustic in the past about the risk involved in drug research, Valeant's chief executive has largely steered clear of developing a pipeline, focusing instead on a clear strategy involving the rapid acquisition of marketed drugs.
AstraZeneca has sold off another sprawling research outpost in its global reorganization, this time ditching half of its Delaware headquarters to JPMorgan for $44 million, according to local reports.
Horizon Discovery Group, which makes and sells tools for genomics research and personalized medicines, has set out to raise about $41.5 million on the AIM market on the London Stock Exchange.
Even in the world of Big Pharma, where pipelines of a dozen or more late-stage drugs are common, a couple of blockbuster-sized experimental programs can make a huge difference for the forward-looking analysts who cover these companies. Let's use Merck as an example.
After 25 years at the helm of one of biotech's best-case scenarios, Regeneron CEO Leonard Schleifer has crossed the $1 billion threshold, according to Forbes, thanks largely to the company's blockbuster eye drug. And, with a stable of promising late-stage treatments waiting in the wings, the Tarrytown, NY, executive's most profitable work may still be ahead of him.
The biotech IPO window is open, and Radius Health is preparing to see if it can make the leap and land on Wall Street with about $86 million in hand.
Life sciences venture outfit Abingworth is creeping up on a close for its 6th fund, according to Dow Jones Venturewire, reportedly outstripping its goal of $330 million as it stocks up for another round of investments.
Framingham, MA-based rEVO Biologics--formerly GTC Biotherapeutics--is planning to put its drug ATryn through a late-stage study for preeclampsia, looking to see if it can help women extend their pregnancy, helping the women as well as their newborns.
Now that many of the major pharma companies have promised to open up, at least somewhat, on their clinical trial data, Novartis has decided to take the pledge as well. But rather than earn plaudits from longtime critics who have castigated the industry for years of secrecy about their clinical trials, it's only likely to stir a growing backlash among commentators who view these moves as far too limited, spurred primarily by a more ambitious approach from European regulators who want to force open the floodgates.
After two stinging rejections sent it back to the lab, Anika Therapeutics has secured the FDA's blessing for an osteoarthritis pain injection, propelling the biotech's shares up more than 40%.
Once Novartis put out the word that it would start "consultations" about the future of its R&D site in Horsham, U.K., there was never much doubt that the pharma giant would go ahead and close the operation, putting the futures of some 400 staffers and 170 consultants in doubt. On Wednesday the pharma giant confirmed those expectations.
Bethesda, MD's Northwest Biotherapeutics has watched as rivals Dendreon and ImmunoCellular have run into serious roadblocks with personalized cancer vaccines over the past year, but with a major Phase III study underway, the biotech believes it can change the narrative.
A couple of day ago, Israel's Andromeda Biotech bought back the worldwide rights to its Phase III diabetes therapy--DiaPep277 for Type 1 patients--from Teva for $72 million, to be paid on an installment plan based on future revenue. And today, Andromeda's parent company Clal says it's in talks with a U.S. pharma company to sell Andromeda and DiaPep277.
The FDA approved AstraZeneca's drug for a diabetes-related rare disease, but, following a vote from a panel of advisers, only for a portion of a tiny patient population, putting a clamp on already staid sales estimates.
The antibiotics developer Achaogen has set its terms for a planned IPO, saying it will sell 5 million shares at $12 to $14 a share.
Back in 2010, Ariad Pharmaceuticals' ridaforolimus was a promising cancer therapy worth up to $700 million in the eyes of Merck. Now, in light of an FDA rejection and some dimming development prospects, Merck has quietly washed its hands of the drug, handing it back to its former partner.
Eli Lilly says its closely-watched GLP-1 diabetes drug dulaglutide works as well as the market leading therapy Victoza, but isn't superior to the rival drug. That's going to be good enough for Lilly to claim a big win, though, as analysts were ready to hand it a victory on non-inferiority for a drug now in the hands of regulators.