Another hoped-for big week of biotech IPOs has come up well short, with two entrants downsizing their ambitions to make it out and a third reportedly thwarted by some bad timing.
A committee of European Medicines Agency advisers is recommending approval for Novo Nordisk's combination of a long-acting insulin and its blockbuster GLP-1 drug Victoza, setting the stage for a near-term approval of what's expected to be the diabetes giant's next big therapy.
Six biotechs were expected to go public this week, eyeing nearly $400 million combined, but that potential has so far amounted to one deeply discounted offering, one bottom-of-the-range debut and one outright cancelation.
In this week's EuroBiotech Report, events in Gaza and Ukraine have cast a shadow over Europe, with sections of the Israeli biotech industry among the many groups indirectly affected by the fighting. And more.
Israeli drug developer Atox Bio has raised a $23 million E round to support its treatment for rare, tissue-destroying bacteria, paving the way for late-stage work.
Over the last few years there's been something of a shakeout among biotech venture investors. There are fewer big players, but with IPOs taking flight again, established venture groups are rolling out new funds collectively worth billions of dollars. And now a pair of Asian pharma companies is bankrolling a rare operation: a brand new VC organization--Remiges Ventures--that plans to go hunting for biotech startups in the U.S. and Europe.
The FDA accepted Novartis' application to sell a knockoff of Amgen's biological treatment Neupogen, making the company a pioneer among those looking to capitalize on a soon-to-come U.S. market for biosimilars that is expected to explode.
Gilead said today that the FDA has approved its PI3k inhibitor idelalisib for three types of B-cell blood cancers following its early Phase III success last fall on impressive leukemia data. EvaluatePharma analysts estimate this drug could earn $1.2 billion a year by 2020, making it one of the top therapies in late-stage development.
Shares of Inovio Pharmaceuticals jumped about 20% this morning after the biotech said it had hit the mark on the primary endpoint for its mid-stage study of VGX-3100, an experimental therapy designed to eliminate precancerous cervical lesions.
A new epilepsy treatment from Belgian drugmaker UCB helped reduce the rate of seizures in a Phase III trial, the company said, setting the stage for an FDA application and a shot at widening its footprint in the field.
Shire has signed a $225 million agreement to brighten its future in rare diseases, bolstering a major selling point for AbbVie as the two prepare for a $54.7 billion merger.
Sofinnova Ventures has evolved rapidly over the past decade to suit the times, from a diversified early stage biotech and IT investor to focusing solely on later stage biotech. And LPs seem to think it is making all the right moves; it has closed a ninth fund at $500 million, the hard cap for the fund that was initially targeting $425 million.
Shares of Puma Biotechnology soared more than 220% after the markets closed on Tuesday as investors cheered the biotech's positive Phase III numbers for a late-stage study of their lead drug neratinib (PB272).
A new three-drug combo treatment for tuberculosis better eradicated the disease than standard therapy in a midstage trial, showing particular promise for patients with HIV as it rolls into Phase III development.
Proving once again that CAR-T is now one of the hottest fields in cancer drug development, Boston-based Ziopharm Oncology is expanding its R&D collaboration with Intrexon to include the personalized immuno-oncology technology.
Fresh off grossing $103.5 million in an overstuffed IPO, Cambridge, MA's Sage Therapeutics has secured the promise of a speedy FDA review for its top prospect, a treatment for a rare seizure disorder.