Kindred dumps its dog eczema drug in another pipeline setback

Months removed from its last late-stage failure, animal health biotech Kindred Biosciences is pulling the plug on another pivotal trial, sending its shares into tailspin just a year after its IPO.

ASH Preview: Celgene, Amgen, PD-1, CD-38, Agios, Epizyme and more

Celgene will hold an investor event at the ASH conference on Dec. 7, which will doubtless provide further details on its own data and the advances of its partners.

Biotech partners at Allena fund a march toward PhIII with $25M venture round

Allena Pharmaceuticals has reeled in a new investor to lead its $25 million B round, which should provide enough money to get its lead drug through a multipronged midstage program and up to the threshold of Phase III. HBM stepped in to lead the pack of the Newton, MA-based biotech's original investors--Frazier Healthcare, Third Rock Ventures and Bessemer Venture Partners--with the help of another new investor, Pharmstandard International.

Party time at Array as Novartis bows out of PhIII binimetinib cancer program

Usually, when a biotech company loses a Big Pharma development partner, the executives wind up circling the wagons in a vain attempt to defend the value of their drug. But for Boulder, CO-based Array BioPharma and its backers, Novartis' exit from its late-stage program for the MEK inhibitor binimetinib was a good occasion to throw a party.

Amgen snags a lightning-fast approval for its leukemia immunotherapy

The FDA approved Amgen's new leukemia treatment more than 5 months ahead of schedule, green-lighting the first contender among a new class of immunotherapies that promise to change the standard of care in blood cancer.

UPDATED: GlaxoSmithKline rips into RTP R&D group, chopping 900-plus jobs in global reorganization

The company says that the bulk of the job cuts will be made in Research Triangle Park, NC, slashing R&D as it concentrates drug research work in Philadelphia and Stevenage in the U.K.

Bayer tees up its new hemophilia drug for an FDA submission

Bayer plans to submit its new hemophilia A treatment to regulators by year's end, following through on a roughly $700 million commitment to roll out next-generation treatments for the bleeding disease.

Busy biotechs bag $121M in VC cash

Seres Health, PMV Pharmaceuticals, Apellis Pharmaceuticals and CANbridge Life Sciences raise $121M in VC cash.

Naurex bags an $80M round for PhIII study of an NMDA drug for depression

Whatever data Naurex collected from its recently completed Phase IIb study of an NMDA receptor drug for depression, it must have deeply impressed its investment syndicate. Today the company unveiled the news that it has rounded up an $80 million round designed to put the drug through a late-stage pivotal trial.

Puma tanks on a fresh setback for its breast cancer drug

Puma Biotechnologies is walking back some bullish prognostications for its breast cancer treatment, delaying its planned FDA submission by as much as a year and lending weight to some creeping doubts about its top prospect.

Prothena gets a positive snapshot of efficacy for rare disease drug, preps for PhIII

A small Phase I/II study of Prothena's lead drug produced an encouraging round of initial responses among patients with AL amyloidosis, a rare threat to organs. And now company execs say they're going straight into a Phase III study of NEOD001 so they can build a case for regulators.

Sanofi hands over R&D site, $310M to Evotec in a cross-cutting alliance

Sanofi has pulled back the curtain on its plans for R&D in the post-Chris Viehbacher future, outlining a deeply intertwined relationship with German outsourcer Evotec designed to help the company cut costs as it shares the risks and rewards of building out its pipeline.

Lilly inks a $440M deal for Zosano's osteoporosis therapy

Eli Lilly has stepped in to ink a worldwide license on Zosano Pharma's recipe for parathyroid hormone 1-34 dubbed ZP-PTH, which is delivered via its microneedle patch system to treat osteoporosis.

Audentes hunts for deals after adding $42.5M venture round

Seventeen months after rolling out a $30 million Series A round, gene therapy upstart Audentes Therapeutics says it has added a $42.5 million venture round to support its R&D work.

Biogen barrels toward Alzheimer's Phase III after a promising early signal

Biogen Idec is heralding hope in one of the industry's toughest fields, plotting a late-stage trial for an Alzheimer's disease treatment after charting some surprising positive results in an early study.

FDA lifts a hold on Flexion pain drug

Burlington, MA-based Flexion says that the FDA has lifted its clinical hold on its lead pain drug candidate, FX006.

J&J scuttles a $945M arthritis deal with Astellas on the eve of Phase III

Johnson & Johnson is walking away from a potential rheumatoid arthritis treatment from Astellas, nixing a deal that could have paid out at $945 million and putting the drug's stateside future in jeopardy.

Otsuka buys Avanir and its portfolio of repurposed generics for $3.5B

Avanir has made something of a reputation for itself by mixing a pair of generics--a cough suppressant and an old heart medicine--into a new elixir that can calm an emotional outburst. And Japan's Otsuka has stepped in to snap up the company, its product and a pipeline of repurposed meds for a hefty $3.5 billion.

GeNeuro snags a $455M deal, inks MS drug pact with Servier

Geneva-based GeNeuro, a spinout of the Institut Mérieux, has come up with a licensing deal that will deliver $47 million needed to complete a Phase IIb study of its experimental therapy for multiple sclerosis. And France's Servier gets an option on ex-U.S. and Japanese rights that's tied to a $408 million package of milestones along with a chance to buy an equity stake in the biotech sometime in the next year.

Ascendis banks $60M to get its orphan drug into Phase III

Danish biotech Ascendis Pharma has put together a $60 million D round, cash that'll help get its once-a-week treatment for growth hormone deficiency into late-stage testing.