News

Sunesis shares crushed in a rout after leukemia PhIII ends in defeat

Shares of South San Francisco-based Sunesis were crushed this morning after the biotech put out word that its drug vosaroxin had flunked a Phase III test for acute myeloid leukemia. The stock plunged about 70% on the news that the experimental therapy had failed to significantly improve survival rates compared to a placebo.

Actavis snaps up Durata, newly approved antibiotic in $675M buyout

Buyout-hungry Actavis--which is alternatively spotlighted as both a buyer and a possible buyout target--has snapped up Chicago-based Durata Therapeutics and its recently approved antibiotic Dalvance (dalbavancin) for $675 million plus a potential bonus.

UPDATED: Novartis partners with Bristol-Myers Squibb as immuno-oncology deal frenzy heats up

Novartis is prepping new studies that will test how well three of its oncology drugs--the experimental INC280 and EGF816 and the newly approved ALK inhibitor Zykadia--do when combined with Bristol-Myers Squibb's PD-1 drug nivolumab in a joint attack on non-small cell lung cancer.

Top women in biotech 2014

Carving out a successful career in biopharma isn't easy, for men or women. The failure rate of experimental drugs is astronomically high. And just because a company wins an approval is no...

IPO hopeful rEVO puts off its plans for a $75M debut

Massachusetts biotech rEVO Biolgoics is postponing its efforts to go public in a $75 million IPO.

Report: Arbor Pharma goes on the block for $1B-plus

Private drugmaker Arbor Pharmaceuticals is looking for a buyer, according to Reuters, going on the market with a price tag that could exceed $1 billion.

EMA adopts open trial data policy to begin Jan. 1

The European Medicines Agency adopted a new policy on Oct. 2 that requires drug companies to make public certain clinical data that predicate drug approvals.

Dermira pulls off a $125M IPO as biotechs wax and wane on Wall Street

Skin treatment developer Dermira came through with a top-of-the-range IPO, banking $125 million to support its pipeline and charting a rare success in the increasingly volatile market for biotech debuts.

Jason Rhodes joins Atlas Venture investing team

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)...

Baxter backs Rockwell with a $45M hemodialysis deal

Kidney drug developer Rockwell Medical picked up a big co-sign from a leader in the space, signing a deal with Baxter International that will help pay the way for its late-stage iron-delivery treatment.

Salix calls it quits on an inversion over mounting political pressure

Specialty drugmaker Salix Pharmaceuticals is backing out of a $2.7 billion deal that would have given it an Irish domicile--and thus a lower tax rate--in the first victory for U.S. leaders working to discourage such transactions.

Karolinska Development's CEO leaves, Erytech hits PhIII endpoints, VBL belatedly nails IPO

Welcome to the latest edition of our weekly EuroBiotech Report.

Atlas Venture plans a biotech-only future via VC mitosis

For the past 35 years, Atlas Venture has operated as a diversified investor, splitting its efforts between technology and life sciences. Starting next year, the two sides will part.

Calithera ekes out an $80M IPO as Dermira, Forward hope for a turnaround

Cancer biotech Calithera Biosciences pulled off an $80 million Wall Street debut, pricing well below its range as more and more drug developers line up in hopes of making it out of a tightening IPO window.

Intarcia's annual diabetes treatment aces two Phase III trials

Well-funded biotech Intarcia Therapeutics is rolling along with its ambitious plans to develop a diabetes treatment without Big Pharma's help, posting positive results from two late-stage studies on its once-a-year drug-device combo.

UPDATED: Eli Lilly scraps tabalumab for lupus after it flops in (another) PhIII program

Eli Lilly's tabalumab has flopped in another Phase III program, failing to score well enough to survive as a potential new treatment for lupus--a follow-up setback to its earlier failure in rheumatoid arthritis. Lilly now plans to bury the program in its crowded graveyard of late-stage drugs.

Feds rally behind Mapp as Ebola spreads, but production remains a challenge

A novel treatment made by tiny Mapp Biopharmaceutical may be the key to beating back West Africa's Ebola outbreak, but despite the support of the U.S. government and some of the world's largest charities, producing enough to counter the spread will be difficult.

Little Esperion eyes big rivals as its cholesterol drug clears mid-stage hurdle

Esperion Therapeutics has taken another big stride along the clinical path for its cholesterol drug. The biotech reports that its drug ETC-1002 slashed levels of the bad cholesterol LDL, particularly when it was combined with Merck's Zetia, in a Phase IIb trial. And now that the mid-stage program is complete, the Ann Arbor, MI-based biotech finds itself at the threshold of a late-stage program with a drug the company feels can thread the market needle between cheap generics and a looming wave of rival biologics.

Merck-led syndicate bets $30M on Visterra's infectious-disease pipeline

Backed by the insights of a high-profile MIT scientist with a lead antibody now poised to make an assault on a Phase II proof-of-concept study, Visterra has rounded up a $30 million venture round for its next-gen work on infectious diseases from a marquee group of investors and now plans to beef up the pipeline.

Allergan blueprints a big Texas expansion amid battle with spendthrift Valeant

Allergan has signed a lease for big chunk of office space in Texas, according to the Austin Business Journal, keeping quiet on its plans as it slashes jobs around the globe.