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.
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.
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.
Massachusetts biotech rEVO Biolgoics is postponing its efforts to go public in a $75 million IPO.
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.
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.
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.
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.
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.
Welcome to the latest edition of our weekly EuroBiotech Report.
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.
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.
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.
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.
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.
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.
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 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.