News

Tolero wraps up a $22.4M round to support its cancer contender

Tolero Pharmaceuticals has pocketed a second tranche of its Series B funding round, netting $22.4 million in total as it prepares to take its expirimental marrow cancer treatment into late-stage development.

Aeterna Zentaris bottoms out after a stinging FDA rejection

The FDA has rejected Aeterna Zentaris' orphan treatment, taking serious issues with its pivotal data and further battering the foundering biotech's share price.

UPDATED: Merck partners with Bind on a pair of new cancer drug programs

Four months after Bind Therapeutics lost marquee development partner Amgen, Merck has stepped up to take the Big Biotech's place in the lineup. The pharma giant, which has been investing heavily in its cancer drug pipeline, is turning over a pair of early-stage drug candidates to see if Bind's delivery technology can amp up their efficacy.

Roche blueprints a $466M expansion in China

Roche is planning to make a major splash in China, looking to spend 450 million Swiss Francs ($466.2 million) to build a diagnostics operation in Suzhou.

IPOs: Molecular Partners and Xenon pull off downsized debuts amid a shaky market

Biotechs Molecular Partners and Xenon Pharmaceuticals finally made their way to the public markets after previously postponing their IPOs, but each had to settle for a substantial discount in the process as investors continue to greet drug developers with skepticism.

GlaxoSmithKline heads to the FDA with its next big respiratory bet

GlaxoSmithKline is racing to be the first on the market with a new approach to treating severe asthma, filing U.S. and European applications for the injectable mepolizumab as it jockeys with Teva and AstraZeneca.

AstraZeneca's $2B oncology contender shows promise in prostate cancer

AstraZeneca's ovarian cancer-treating olaparib may also have a beneficial effect on prostate cancer, researchers said, potentially increasing the value of a key drug in the company's self-appraised $12 billion oncology pipeline.

Can Rockwell Medical win FDA approval for its dialysis drug?

FDA reviewers have little doubt that Rockwell Medical's iron-replacement treatment for dialysis patients met its goals in late-stage trials, but the company, seeking agency approval, may have trouble convincing regulators that its Phase III results can translate into real-world benefits.

Novartis gears up for FDA scrutiny with a new blood cancer drug

Novartis believes its new oncology treatment can make a major difference for patients with multiple myeloma, a blood cancer with a particularly grim prognosis. But first it'll have to convince a group of independent experts that the drug's ability to extend survival by a few months outweighs a significant increase in safety risks.

Bayer adds $25M to Versant's new, $300M-plus biotech venture fund

Bayer HealthCare is adding $25 million to Versant Ventures' new biotech fund--its fifth--and taking an advisory role with the investment group.

Amgen's trebananib flunks key survival measure in ovarian cancer PhIII

Amgen reported today that its late-stage cancer drug trebananib missed the goal on a significant improvement for overall survival among patients suffering from platinum-resistant ovarian cancer. These new data follow a successful hit on the goal for progression-free survival.

Eyeing Eylea's heirs, Regeneron spends more and more on R&D

Regeneron is pouring more money than ever into its well-respected R&D operation, spending big on a cadre of late-stage candidates the Big Biotech believes can outshine its blockbuster eye treatment.

Rand tallies a whopping $44B in biosimilar drug savings

One of the big, unanswered questions that is obsessing payers and biopharma execs alike is just how much a new generation of biosimilars can save the healthcare industry through lower prices. So Rand set out to model the marketing of these follow-ons, which are gradually gaining steam in the late-stage pipeline.

Astellas sinks deeper roots into Cambridge's hot R&D field with $1.2B pact

Just weeks ago Astellas teamed up with Harvard's Constance Cepko on a new program for a degenerative eye disease. Today it inked a deal with Proteostasis Therapeutics that could be worth up to $1.2 billion while getting Dana-Farber investigators to help hunt down new cancer drugs that can inhibit K-Ras.

Novo Nordisk builds blockbuster case with promising PhIII obesity data

In new late-stage data, Novo Nordisk's inaugural obesity drug spurred statistically significant weight loss compared to placebo, bolstering the company's case as it works to build a portfolio of such treatments.

AstraZeneca builds cancer R&D dream house with $150M Definiens buyout, J&J deal

Looking to build an oncology powerhouse, AstraZeneca has scooped up the diagnostics player Definiens with a down payment of $150 million while executing another drug development partnership with J&J and Pharmacyclics to add to its growing portfolio of immuno-oncology deals

IPO optimism brings Molecular Partners and Xenon back to the table

Two biotechs are again mounting IPO efforts after market volatility scuttled their first attempts, as Molecular Partners and Xenon Pharmaceuticals pitch downsized offerings in hopes of finally making onto the public markets.

Takeda drops a $750M schizophrenia drug pact with Intra-Cellular

More than three years after inking a $750 million pact to develop Intra-Cellular's PDE1 inhibitors for cognitive impairment caused by schizophrenia, Takeda is out.

Bristol-Myers beefs up fibrosis pipeline with $444M option deal

Bristol-Myers Squibb has grabbed an option on an early-stage program for idiopathic pulmonary fibrosis this morning, forging a deal to potentially buy out Denmark's Galecto Biotech for up to $444 million--if the drug pans out in the clinic.

Geron shares rocket up after FDA takes the cuffs off its lead drug

After putting up evidence to show that the liver toxicity triggered by its lead drug can be reversed, the FDA has lifted the full hold placed on its lead--and only--cancer drug. And investors responded enthusiastically to the biotech's return to the clinic, boosting shares by 35% in premarket trading.