News

Pfizer joins a powerhouse syndicate backing $43M round for Nimbus

After years of careful preclinical foundation work, Nimbus Therapeutics has added another marquee name to its Big Pharma-heavy list of backers and put together a $43 million B round that will put its computer-driven drug design technology to the clinical test in one of the hottest fields in biotech.

Deep dive into Actelion's Uptravi data calms investors as FDA decision date nears

Actelion has presented detailed data on the drug it hopes will cement its position in the pulmonary arterial hypertension market, Uptravi. The shock-free data drove a small uptick in Actelion's stock, but fell short of being the blockbuster-guaranteeing release some were hoping to see.

Nordic Nanovector upscales IPO as demand tops expectations

Nordic Nanovector has increased the amount it is aiming to raise in its upcoming IPO by 25%. The cash will allow Nordic Nanovector to accelerate clinical development of the antibody-radio-conjugate Betalutin in its secondary indication, diffuse large B-cell lymphoma.

Nektar looks for the positive in a failed PhIII breast cancer study

About two months ago, Nektar was talking up a big expansion, making way for the new staffers that would be needed to start commercializing the breast cancer drug NKTR-102. Today, the biotech may be rethinking that plan, as the drug failed in a pivotal late-stage study.

Struggling GlaxoSmithKline warns of 150 R&D/commercial job cuts in Philadelphia

Close to three months after GlaxoSmithKline revealed that it is making deep cuts in its R&D group in North Carolina as part of a major reorganization in the U.S., the pharma giant detailed plans to ax up to 150 more staffers and shutter units in its commercial/R&D group in the Philadelphia area.

What drives Peter Thiel's biotech investment strategy? Trends are 'bad'

Investment guru and self-described contrarian Peter Thiel is best known for making a bundle from PayPal and Facebook. But along the way he's made a few small bets on biotech, and MIT's Technology Review caught up with him recently to find out more about what is driving his interest in the field, and what he looks for when he invests in a biotech.

Woodford backs Malin to move ex-Elan execs toward €325M IPO goal

Neil Woodford's fund has committed to buy shares in Malin, the life science investment company set up by Kelly Martin and other former Elan executives. And with Woodford, the Ireland Strategic Investment Fund and other cornerstone investors gobbling up two-thirds of the shares, observers think Malin could hit the top end of its IPO range.

Soon-Shiong's NantWorks deepens its immuno-oncology ties with Sorrento

Billionaire biotech entrepreneur Patrick Soon-Shiong is expanding his company's relationship with Sorrento Therapeutics, promising $110 million in cash and equity in exchange for the rights to some cancer-fighting immunotherapies.

Galapagos registers another setback as J&J dumps anti-inflammatory pact

Eight years after J&J handed over €15 million in an upfront payment to Galapagos to launch a partnership to develop anti-inflammatory drugs, the pharma giant is bowing out--the latest in a series of development setbacks at the European biotech.

Esperion's potential PCSK9 spoiler scores more positive data

Amid all the fervor over cholesterol-fighting PCSK9 antibodies, Esperion Therapeutics is touting more positive results for a pill it hopes will play spoiler to those would-be-blockbuster injections.

CAR-T player Kite Pharma buys its way into Europe and pads its anticancer arsenal

Kite Pharma, a leader among companies in the fast-moving field of cancer immunotherapy, is expanding its arsenal of potential treatments and making European landfall with a biotech buyout.

GlaxoSmithKline and J&J back a $100M new Alzheimer's R&D project

GlaxoSmithKline, Johnson & Johnson and a group of industry titans are helping kick off a U.K. government-led fund designed to spotlight new approaches to dementia and Alzheimer's disease, kicking in $10 million to bankroll discovery work around the world.

UPDATED: Biogen Idec's group-by-group cuts raise fears of more firings

Biogen Idec's decision to replace a group of 20 R&D staffers in chemistry and neurology wasn't the first internal staffing adjustment at the biotech trendsetter. Biogen Idec axed about 21 staffers last fall in a reorganization of clinical operations, R&D quality and compliance, according to sources close to the terminations. That move back in September/October was the first of two rounds of group firings in a quiet internal reorganization, raising concerns that more such department restructuring lies ahead.

Chiasma taps a new CEO as it rolls toward an FDA filing

Fresh off raising $70 million in venture cash, Israeli-American biotech Chiasma has recruited a new CEO to lead the next phase of its operations.

Pulmatrix backs its way onto Wall Street with merger deal

Respiratory biotech Pulmatrix is taking an end-around path to the public market, signing a deal to merge with tiny Ruthigen to better fund its pipeline of inhalable treatments.

R&D exec Tal Zaks leaps from flagging Sanofi to fast-growing Moderna

While a long list of biopharma companies have been dropping the ax on R&D staffers in recent weeks and months, some of the top execs being shown the exit are finding that new doors are opening as fast as old positions are whisked away. Today, Tal Zaks underscored the bright side of restructuring, being named chief medical officer at Moderna Therapeutics a month after he was among 100 oncology R&D staffers who were ushered out at Sanofi in a recent reorganization.

Cidara Therapeutics makes a quick leap into the growing Q1 IPO queue

A little more than 8 months after jumping out of stealth mode with a $32 million venture round and a game plan to develop new antifungals, Cidara Therapeutics CEO Jeff Stein is jumping into the queue for Nasdaq with an IPO designed to raise $69 million.

Amgen scores a victory for PCSK9, halving cardio risks after one year

A new generation of cardiovascular drugs has proved itself capable of lowering bad cholesterol across dozens of Phase III trials, but many physicians are holding out to see whether doing so can meaningfully improve patients' lives. In an early peek at some long-term data, one such injected therapy from Amgen halved the risk of major cardiovascular problems after one year of treatment, bolstering the case for the whole class of drugs.

Merck can't get the sugammadex curse lifted, faces 3rd FDA rejection

Merck's anesthesia drug sugammadex has been cited repeatedly over the years as one of the top experimental meds in the pharma giant's pipeline, a trophy obtained in its megamerger with Schering. But the treatment has racked up a painful series of setbacks over the years, starting with its first rejection at the hands of the FDA 7 years ago and continuing now with a third looming rejection over unresolved questions surrounding a hypersensitivity study performed for its pitch to the agency.

XBiotech lines up for a $76M IPO to fund its antibody R&D

Austin, TX's XBiotech has filed to make a $76 million Wall Street debut, plotting to bankroll a fleet of antibody therapies and an ambitious plan for a manufacturing and R&D campus.