News

Ahead of a split, Baxter strikes a $970M deal for Merrimack's lead cancer drug

With a big corporate split looming ahead, Baxter has stepped in to pick up the ex-U.S. rights to Merrimack Pharmaceuticals' lead cancer therapy, paying $100 million in an upfront fee and committing up to $870 million in additional milestones for the late-stage treatment.

Boehringer Ingelheim slashing 600 staffers as sales slide

The bloodletting in Big Pharma continues with news today that Boehringer Ingelheim is planning between 500 and 600 job cuts in its home country of Germany.

Fast-tracked Ebola studies put Tekmira, Mapp and Sarepta in the spotlight

On Monday Tekmira noted that the FDA had cleared the regulatory path needed to allow the use of its experimental Ebola treatment on a compassionate use basis. And then today the Vancouver-based biotech followed up with the news that it is collaborating with health officials on a fast-tracked study of Ebola therapies in Africa, a one-two punch that helped bolster its stock price as investors gambled on a successful outcome forged out of a lethal outbreak.

Biogen shoulders into gene therapy amid a second honeymoon for the field

As researchers and investors toast renewed optimism for a new generation of gene therapies, biotech bellwether Biogen Idec is deepening its commitment to the space, another sign of life for the resurgent field.

NEA pitches in on a $27M gamble on Tracon's mid-stage cancer drug program

New Enterprise Associates has stepped up to back San Diego-based Tracon Pharmaceuticals, joining a syndicate that is betting $27 million on the company's two cancer therapies, including a mid-stage drug now in the clinic for soft tissue sarcoma.

Molecular Partners plots a $134M IPO for some R&D me-time

On the heels of some A-list biopharma partnerships, Switzerland's Molecular Partners is looking to double down on its in-house projects, swinging for a $134 million IPO to help pay its way.

Who loses in biopharma as Treasury moves to block tax inversions?

As promised, the U.S. Treasury has changed the tax rules related to tax inversions in a move aimed at throwing up a roadblock on the road to lower tax rates abroad. And the move doused shares of AstraZeneca, Shire and others which had either been in the crosshairs of a potential inversion gambit or were waiting to complete the paperwork.

Tekmira hammers out a way to get its Ebola drug to patients

Tekmira, developer of an RNAi treatment for Ebola, has come to terms with regulators on an access program for its in-development drug, allowing the company to provide doses to patients who have contracted the deadly virus.

Amgen pushes for early FDA OK of leukemia drug blinatumomab

Bolstered by a breakthrough drug designation at the FDA, Amgen is following through with a new drug application for its leukemia drug blinatumomab, hoping that promising Phase II data will be enough to push this program past the goal line on a greatly accelerated development schedule.

Regeneron touts its allergy drug as a blockbuster in waiting

While Eylea brings in the money and the cardio contender alirocumab grabs the headlines, Regeneron believes one of its less heralded pipeline treatments could eventually outgrow both, treating the underlying cause behind a handful of chronic diseases.

Auxilium shakes off Endo's $2.2B offer and affirms its eye on QLT

Auxilium Pharmaceuticals has no intention of accepting a multibillion-dollar bid from Endo, the company said, preferring to stay the course and pull off an en-vogue tax inversion as it looks to cut costs.

Merck KGaA bags Sigma-Aldrich's global lab services, manufacturing ops in $17B buyout

Merck KGaA has come up with its long-awaited buyout deal, acquiring the life sciences services outfit Sigma-Aldrich for $17 billion.

FierceBiotech's 2014 Fierce 15

A few things struck us while gathering this year's class of the Fierce 15, our 12th annual take on some of the most noteworthy private biotech upstarts making headway these days.

GlaxoSmithKline, Avalon launch a pair of new build-to-buy biotechs

GlaxoSmithKline and San Diego-based Avalon Ventures have crafted two new biotechs which will explore the therapeutic potential of a pair of new drugs. These companies, dubbed Silarus Therapeutics and Thyritope Biosciences, will each get a $10 million Series A and research support from the venture group and its Big Pharma partner, which will consider whether it wants to snap up the companies once they hit the proof-of-concept stage a few years down the pipeline.

French immuno-oncology biotech OSE eyes an EU IPO

The U.S. boom in biotech IPOs has largely failed to drift across the Atlantic and galvanize many floats in Europe, but France's OSE Pharma is looking to buck that trend in hopes of bankrolling late-stage studies for its immuno-oncology candidate.

Cubist makes Euro landfall with a $400M purse for antibiotics R&D

The antibiotics-focused Cubist Pharmaceuticals has opened up shop in Europe with a Swiss international headquarters, part of its plan to spend $400 million on infectious disease R&D this year and spotlight new treatments for global scourges.

Antibiotics R&D to get critical lift by executive order, Obama advisory group

Antibiotics development is about to get a much-need boost with the release of new federal proposals aimed at curbing rising antimicrobial resistance infections caused by so-called superbugs.

Novo Nordisk wins EU approval for a diabetes combo with billion-dollar potential

Novo Nordisk picked up European approval for a combination of a long-acting insulin and its own Victoza, pioneering a once-a-day approach to Type 2 diabetes that could bring in blockbuster sales.

Merck KGaA rearranges its executive board amid biosimilar surge

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)...

Dutch VC opens €65M cancer fund, Affimed IPO falls short, Evotec begins legal action

In this week's EuroBiotech Report, cash-starved European cancer startups had reason to cheer when Aglaia Biomedical Ventures revealed a new, €65 million ($84 million) oncology fund. The Dutch VC shop plans to invest the cash pool--which could rise to €100 million--in up to 15 early-stage biotechs. And more.