News

Billionaires line up to back Malin's €330M IPO

Ex-Elan CEO Kelly Martin and his chums have persuaded some very rich people to back Malin's IPO. The list of investors in the IPO--which surpassed expectations to raise €330 million ($357 million)--includes the fund set up by SAS founder Jim Goodnight and Canada's wealthy and influential Tory family.

Tal Zaks lands at Moderna as CMO

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)...

Amgen fails to block Novartis' Neupogen biosimilar

Novartis made history this month with the first FDA approval of a biosimilar, and now a judge's ruling has cleared the way for its launch. The drug, Zarxio, is a copy of Amgen's blockbuster Neupogen, which is designed to boost white blood cell counts.

AstraZeneca's rosy pipeline promise runs into harsh realities in oncology

AstraZeneca's ambitious goal of boosting sales by 75% by 2023 relies heavily on its work in the high-profile field of immuno-oncology, but changing winds and rivals' successes might make it hard for the U.K. drugmaker to follow through on those promises.

Sanofi finally unloads an embattled R&D site in $270M Evotec deal

Sanofi is shipping more than 200 researchers to German outsourcing firm Evotec as it finally gets out of a French R&D site whose fate led to a squabble with the local government, reaching a compromise the company believes will leave all sides appeased.

Lilly inks a $456M oncology deal with China's Innovent

In a second major bet on Asian R&D, Eli Lilly has signed a $456 million partnership with China's Innovent Biologics to collaborate in oncology, mixing and matching assets with hopes of finding success in each company's home country.

Biogen's Alzheimer's drug impresses in early study with Phase III on the way

Biogen Idec's heavily scrutinized Alzheimer's disease program came through with some positive early results, improving cognition and blasting away brain plaques in a small study many see as a validation of the company's ambitions in the field.

Prothena rockets up with early data on a Roche-partnered Parkinson's drug

In a small study, an early-stage Parkinson's treatment from partners Prothena and Roche reduced levels of a protein with ties to the memory-destroying disease, sending the former company's shares up about 40%.

Biotech spared in U.K. rejig of VC trusts

The United Kingdom is to change the laws governing startup investment vehicles known as Venture Capital Trusts (VCTs) but has opted against some of the dramatic alterations previously mooted. VCTs will still face new restrictions on the companies to which they can provide private equity cash, though.

Woodford backs Malin's €325M IPO, U.K. rejigs VC trust rules, Genmab shuffles antibody assets

In this week's EuroBiotech Report, Neil Woodford is tightening his ties to Malin, the investment vehicle set up by Kelly Martin and other former Elan executives. A report that Malin could hit the upper end of its range was one of two pieces of positive European IPO news to emerge this week. Nordic Nanovector was responsible for the other. And more.

Analysts spread the love as Biogen Idec excites on MS, Alzheimer's

Biogen Idec has already primed expectations with remarks on promising results seen in early-stage results for its Alzheimer's drug BIIB037, so tomorrow's big reveal has focused a bright beam of attention on the company.

Lilly inks a $690M deal to get its hands on an autoimmune drug

Eli Lilly is betting up to $690 million that a drug from Korea's Hanmi Pharmaceutical can successfully treat an array of autoimmune diseases, licensing an early-stage candidate with ambitious plans for future trials.

What, Juno Therapeutics worried about its cash burn? Not likely

Juno Therapeutics quickly built a reputation as one of the hottest biotechs in the world, raising hundreds of millions of dollars inside a year and capping it with a go-go IPO for its cancer drug pipeline that helped inspire a surge for the sector. And now that the newly public biotech has filed its first 10-K, Juno can feel the backlash as it outlines just how fast it can spend that huge cache of cash, missing a consensus estimate on projected losses by a market mile.

Google's mystery biotech Calico partners with the Broad on aging-related drugs

Slowly but surely, Google's star-driven biotech Calico is laying the foundation for what promises to be a major biotech focused on some of the biggest diseases that limit longevity. There's a Big Pharma partnership with AbbVie, a development deal down in Texas and now it's time to team up with top scientists. Earlier in the week Harvard and MIT's renowned Broad Institute signed on to work with Calico on pushing new therapies into the clinic.

Genmab buys iDD antibody assets, drops ADC co-development rights

Genmab has tweaked its pipeline, picking up assets from iDD Biotech while dropping the option to co-develop HuMax-TAC-ADC with ADC Technologies. The reshuffle leaves Genmab with a new array of assets to advance toward the clinic.

Crohn's expert flags blockbuster potential--and frets--of Celgene's mongersen

Celgene just got both an endorsement as well as a few challenges in a review of the midstage study for mongersen, an experimental drug for Crohn's disease that will soon be part of the big biotech's late-stage pipeline, with a Phase III study looming.

J&J stays mum about cash, but biotech buyout is a landmark win for Index fund

J&J has snapped up XO1 for an undisclosed sum. It's a single-asset biotech offering a second-generation antithrombin to J&J's Xarelto. And it's the first to be sold off from a portfolio of 16 molecules that Index Ventures put together after assembling one of the original "asset-centric" funds.

Sirtex gets hammered on failed cancer study

Shares of Australia's Sirtex Medical were slammed hard after the biotech reported that its liver cancer therapy failed a closely watched clinical study.

Retrophin bags rare disease approval, FDA voucher in $75M deal

Orphan drug biotech Retrophin is the new owner of an FDA-approved rare disease treatment and a potentially lucrative voucher for a future speedy review thanks to a $75 million buyout agreement.

AstraZeneca's $1.2B COPD drug comes through in Phase III

The star of AstraZeneca's $1.2 billion acquisition of Pearl Therapeutics hit its main goals in two late-stage COPD trials, the company said, clearing the way for regulatory filings and what the drugmaker hopes will be blockbuster sales.