News

CytomX bags $20M for its novel antibodies with Pfizer leading the charge

South San Francisco oncology specialist CytomX raised a $20 million C round to advance its in-house pipeline of novel cancer treatments, with partner Pfizer pouring in the lion's share of the new cash.

Third Rock-backed GBT grabs a $48M round, plots upcoming IPO

The Third Rock-launched Global Blood Therapeutics has rounded up $48 million to push into the clinic with an experimental therapy for sickle cell disease and set the stage for an IPO later this year--once they have proof-of-concept data for their drug in hand.

A record year for biotech inspires some great expectations for 2015

Yesterday's news that Moderna raised $450 million on the back of its preclinical R&D work--on top of the $500 million it already banked--stood out as the biggest new venture round recorded for an early-stage biotech like this. But it's still just a piece of the money that's been flowing into biotech over the past year--and a likely harbinger of more good things to come in 2015.

Moderna hauls in $450M to push its pioneering approach to mRNA

Superlatively well-funded biotech Moderna Therapeutics has raised another $450 million in venture cash, planning to staff up and buckle down on a slew of preclinical candidates that promises to transform patients' cells into drug factories.

Novartis rolls toward FDA nod with a copy of Amgen's Neupogen

Novartis' copy of Amgen's top-selling Neupogen matched up well with the original, FDA reviewers said, recommending what would be the first U.S. approval of a biologic knock-off.

Bristol-Myers to collaborate with Calibr on fibrosis drugs

Bristol-Myers Squibb is turning to the California Institute for Biomedical Research (Calibr) in San Diego for new fibrosis drug candidates.

Aduro bags $51M for its 'breakthrough' cancer combo

Berkeley, CA's Aduro Biotech pulled in $51.4 million in Series D cash, fattening its wallet as the company works through mid-stage trials with a promising immuno-oncology pairing.

Pfizer continues deal spree with Redvax CMV vaccine buyout

Pfizer has added an acquisition pact to its latest string of deals. The pharma giant said today that it is buying out Redvax, a subsidiary of Switzerland's Redbiotec, in order to get its hands on a preclinical cytomegalovirus (CMV) vaccine candidate.

Amgen, Kite partner their hot CAR-T and IO tech in blockbuster cancer pact

Amgen has found a CAR-T development partner. The Big Biotech is partnering up with Kite Pharma on new drugs that use Kite's chimeric antigen receptor tech, which turns T cells in the immune system into cancer-cell attack weapons. And they're both putting up some major milestone cash to fuel the work.

J&J inks an $835M RNA deal to develop autoimmune drugs with Isis

You can now count Johnson & Johnson among the roster of big companies to ally itself with Isis Pharmaceuticals' R&D group. J&J has stepped up with an $835 million pact to develop new drugs for autoimmune diseases of the gastrointestinal tract with the RNA specialists at Isis.

Vertex gets 500-patient boost with FDA's newest Kalydeco nod

Vertex will start the new year with a group of new eligible patients for cystic fibrosis drug Kalydeco, thanks to a Monday green light from the FDA.

Cempra shares soar on success of a head-to-head PhIII antibiotic study

Shares of Cempra shot up more than 30% in premarket trading on Monday as investors digested news of a promising outcome for its head-to-head study of its lead antibiotic solithromycin.

With Roche out the door, Chiasma is raising $56M to go it alone

In early 2013, Roche signed a $595 million deal with Israel's Chiasma with eyes on its promising treatment for the hormone disorder acromegaly. But the Swiss drugmaker got cold feet over the summer, and now Chiasma is picking up the pieces, raising cash in hopes of submitting its drug to regulators this year.

Biopharma posts a chart-topping 41 new drug approvals in 2014

A burst of new drug approvals at the FDA just before Christmas pushed the total to 41 for 2014, the fastest pace in the past 18 years and a fresh sign that at least a few of the lead players have...

NeuroDerm soars on promising Parkinson's results

Rebounding from a disappointing IPO, Israel's NeuroDerm watched its shares more than double on promising results from a small study of its Parkinson's disease treatments.

Upstart Spark is ready to ring in the New Year with $86M gene therapy IPO

Spark Therapeutics jumped into existence late in 2013 with a pipeline of gene therapy projects spawned by investigators at the Children's Hospital of Philadelphia and quickly followed up this year with a $73 million round, breakthrough drug status and a $280 million partnership with Pfizer. Now it's ending its freshman year by filing to go public.

Westphal's Flex Pharma swings for a quick $60M IPO

Flex Pharma, founded by serial biotech entrepreneur Christoph Westphal, is lining up for an IPO less than a year after its launch, angling to raise $60 million to bankroll its work in muscle disorders.

Celgene joins an international list of creditors in Tengion's Ch7 bankruptcy filing

Back in the summer of 2013, Celgene lined up with a group of stalwarts to pump $33 million into the struggling regenerative medicine company Tengion, which had two programs in early-stage development. Today, the biotech powerhouse was listed as a creditor on an international roster of R&D groups and support companies that are getting stiffed in a Chapter 7 filing.

Teva hands over $27M, cancer drug rights to OncoGenex in Phase III divorce

Eight months after OncoGenex Pharmaceuticals and Teva acknowledged that their experimental cancer drug custirsen had flopped in a Phase III prostate cancer study, the big Israeli pharma company has executed a strategic retreat from their partnership. Teva is handing over $27 million to OncoGenex to complete the divorce and is walking away from a deal that included $60 million in upfront costs back in 2009.

Approvals aren't enough; Big Pharma R&D restructuring will continue

Here's a perennial favorite among the top trends in the industry. About six years ago, most of Big Pharma got serious about one of its biggest problems: they were really, really bad at drug development.