In the 10 months since Mary Szela took charge of Melinta Therapeutics--the antibiotics developer once known as Rib-X--the CEO has built up an experienced team of R&D executives. Now she also has the money needed to wrap an ambitious late-stage program for their lead product while preparing to usher a new set of assets into the clinic.
France's Innate Pharma has signed a deal to pay Novo Nordisk $2.7 million up front and as much as $27 million in milestones for exclusive rights to the pair's Phase II-ready cancer immunotherapy.
Over the past few years, the FDA has unveiled a spate of new approval pathways in hopes of getting much-needed treatments on the market faster. But in the rush to accelerate drug development, the agency has wound up putting patients at risk, according to one congresswoman, fast-tracking unproven therapies despite serious safety concerns.
North Carolina's Argos Therapeutics raked in $45 million in a below-its-range Wall Street debut, sticking a so-so endcap on an otherwise colossal week for biotech IPOs in which drug developers banked more than $500 million.
Clarus Ventures is raising $375 million for a third fund, building up its war chest to bankroll new bets on drug and med tech outfits.
A federal jury convicted SAC Capital trader Mathew Martoma of insider trading, finding him guilty of seeking out confidential clinical trial information to get ahead of the market and bringing an end to biotech's latest Wall Street blowup.
Biopharma's long-heralded return to R&D ROI may come up short this year, according to EvaluatePharma, and the next class of approved drugs features fewer blockbusters in waiting than in any of the previous four years.
Singapore has become a biopharma manufacturing hub, drawing the likes of Novartis, GlaxoSmithKline and Amgen. Even Russia's Pharmstandard has an API facility there. Now AbbVie will join the group.
Eleven Biotherapeutics, Revance Therapeutics and Egalet are the latest drug developers to pull off IPOs, raking in a combined $196 million in the busiest week of the biotech boom.
When biotech stocks and IPOs are booming, drug developers can always tap investors for more cash. And follow-on offerings have become all the rage in biotech circles.
With the U.S. market for biotech IPOs still roiling, the U.K.'s Circassia is planning to test whether there's a complementary appetite across the Atlantic, planning a huge $285 million offering on the London Stock Exchange to get its allergy immunotherapies through clinical study.
AstraZeneca is cutting an additional 550 jobs from its ranks, bringing the total to 5,600 in an expanded restructuring designed, in part, to give it more money for deals.
As AstraZeneca was trumpeting the expansion of its late-stage pipeline on Thursday, the pharma giant also unceremoniously swept 15 therapeutic programs out of its pipeline, leaving behind a shrinking group of neuroscience projects and little by way of explanation on the significance of the clinical executions.
A fledgling biotech in Norway's notable cancer drug cluster has garnered about $12.5 million to back its early-stage efforts on a new therapy for acute myeloid leukemia and non-small cell lung cancer.
Purdue University is lining up a $12 million evergreen fund to help launch life sciences companies based on its in-house discoveries, planning to match the investments of third-party backers and speed up spinoffs.
Draper Fisher Jurvetson has closed its 11th venture fund with $325 million. The firm has placed a few bets in the life sciences field, including its support for NanoString's diagnostics work.
Drug developers uniQure, Auspex Pharmaceuticals and Genocea Biosciences joined the fast-growing club of biotechs pulling off IPOs in a busy first quarter, pricing up-sized offerings and walking away with a total of about $242 million.
GlaxoSmithKline confidently claimed a leading role for new drug development in the Big Pharma world on Wednesday, citing a rising return on its multibillion-dollar R&D budget while looking to swell its late-stage pipeline in 2014 and 2015 with about 10 new therapies.
At Merck, the already giant-sized hope that its cancer immunotherapy program for the PD-1 drug MK-3475 represents just swelled significantly in importance. Just ahead of its 2013 earnings report Wednesday, the pharma giant announced plans to tie up with a trio of major league biopharma partners to launch a whole new slate of combination studies that could significantly extend its reach in the oncology market.