News

Wave LifeSci banks $66M with a 'pure' take on synthetic chemistry

Wave Life Sciences, co-founded by famed Harvard chemist Gregory Verdine, put together a $66 million B round to fund its work on a new class of drugs that promise to home in on the genetic defects responsible for diseases.

Gene therapy stalwart ReGenX plots a $100M IPO to strike out on its own

After years of outlicensing its gene therapy technology, ReGenX Bio is pressing forward with treatments of its own, filing to raise $100 million in an IPO to fund in-house R&D.

Esperion surges after FDA offers a shot at quick approval for LDL-lowering drug

Shares of Esperion Therapeutics shot up more than 10% after the market closed on Monday--after the biotech tipped off investors that the FDA is not going to require a long-term outcomes study of its cholesterol-lowering drug ahead of a possible approval.

Edge Therapeutics swings for a $115M IPO with eyes on Phase III

Edge Therapeutics, at work on treatments for brain injuries, filed to raise $115 million in an IPO, seeking cash to get its top prospect into late-stage development.

Pfenex snags a $143.5M anthrax contract with the feds

Biosimilars outfit Pfenex signed a deal worth as much as $143.5 million to develop an anthrax vaccine for the U.S. government's biomedical research division.

FDA confronts the Addyi dilemma: Yes or no on female libido pill?

The FDA is scheduled to come up against its PDUFA deadline for a formal decision on Sprout Pharmaceuticals' female sexual dysfunction drug Addyi (flibanserin) tomorrow. And with mainstream media groups lining up for a share of the widespread public interest in this therapy, there's a whole new round of features and controversy to review in the lead-up to the regulatory ruling.

Retrophin goes after Shkreli with a $65M suit, claims of flagrant mismanagement

Retrophin, a biotech founded by former hedge fund manager Martin Shkreli, is suing its former CEO for more than $65 million in damages, alleging he mismanaged the company's funds to settle personal debts, reward his friends and keep afloat his flailing investment firm.

UPDATED: Heard the latest Kite Pharma rumor? CEO says it ain't so

Kite CEO Arie Belldegrun has a simple message for investors this morning: Relax.

Novartis bets on a slumping Aveo in a $326M cancer deal

Over the past few years, Aveo Oncology has watched each of its most promising cancer treatments flame out, but pharma giant Novartis sees potential in one of the company's early-stage assets, and the Swiss drugmaker has come through with a deal worth up to $326 million to partner on the project.

Hunting fast OK in lung cancer, Roche racks up a positive PhII for 'atezo'

Roche is spotlighting another success for its PD-L1 checkpoint drug atezolizumab, with company execs applauding a positive finish in a big mid-stage study in non-small cell lung cancer. The news follows a string of steady pipeline advancements for a drug that has emerged as the pharma giant's biggest single late-stage blockbuster contender.

Shire might dial up its $30B Baxalta offer, but not without more info

Shire may consider upping its pitch for Baxalta, but first it needs more details on the financial future of its target.

KemPharm spikes as its anti-abuse pain drug rolls toward the FDA

KemPharm, at work on an abuse-deterrent formulation of hydrocodone, said its lead drug performed well in a study designed to determine how easily the pill can be ground up and snorted.

Lilly's CEO keeps faith in the pipeline as biotech gets 'too expensive'

Eli Lilly is staking its future on a pair of high-stakes Phase III programs, shying away from any big biotech buyouts as sticker prices continue to soar.

Novo Nordisk ties the R&D knot with Genmab, and they're not focused on cancer

Novo Nordisk is jumping on Genmab's antibody development platform in search of two new drug programs--and this time the Danish biotech company will not be focused on another cancer pact.

CRO giant WuXi is going private in a $3.3B deal

WuXi PharmaTech, China's largest CRO, agreed to a $3.3 billion buyout deal that would take it off of Wall Street and into the hands of some private investors.

Art Krieg leads Checkmate as it comes out of stealth mode with $20M

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 Eric Sagonowsky (email) or...

Avalanche hits the brakes on its gene therapy program after a Phase II misstep

Avalanche Biotechnologies, months removed from a costly Phase II dud, is calling off plans for further study of its lead gene therapy candidate, heading back to the lab to regroup before trying another clinical trial.

Boehringer takes a neuroscience approach to obesity with latest deal

Boehringer Ingelheim is pairing up with a small California biotech to explore the role circuits in the nervous system play in obesity, scouting for drug targets that could spur weight loss.

Roche dumps its cancer drug R&D pact with Wilex

Roche is bowing out of a two-year-old collaboration with a subsidiary of a struggling Wilex.

Pfizer, OrbiMed back $40M Rhythm round for rare genetic disease R&D

Boston-based Rhythm has gone back to the venture well to draw up a fresh $40 million in backing from some A-list investors to fuel a mid-stage program for rare genetic disorders linked with a lethal level of obesity.