North Carolina's G1 Therapeutics hauled in $33 million to advance a headline-grabbing approach to cancer treatment, helping the biotech hit the gas in a space otherwise dominated by Big Pharma.
A panel set up by the United Kingdom government to review antimicrobial resistance has called for the creation of a global innovation fund to spur the discovery of new drugs. The idea is to counter years of underinvestment by public and private players in basic to mid-stage scientific research.
GlaxoSmithKline has hired a trio of banks to help it orchestrate a spinoff for the HIV-focused venture it majority-owns, Reuters reports, part of a companywide reorganization effort.
The Medicines Company bought out the shares of Annovation Biopharma it didn't already own, getting exclusive rights to a new anesthetic and scooping up a tiny biotech incubated by Atlas Venture.
Now that AbbVie has followed up on Gilead's game-changing combo with its own directly competitive hep C cocktail, Merck's late-stage player in the field doesn't look quite as revolutionary as it once did. With a new drug application being prepped for a near-term filing, the FDA has decided to drop its breakthrough therapy designation for Merck, possibly slowing the Big Pharma's marketing timeline a bit.
MicroConstants China has signed a licensing agreement to gain the global rights for the development of AA98 antibody drug candidates from the Institute of Biophysics of the Chinese Academy of Sciences in a unique deal between academia and local industry.
Analysts have identified an area of European biopharma in which 2014 was a middling year: M&A. The data show that while deals involving U.S. biotechs hit new highs, the renewed optimism in Europe has yet to translate into the signing of checks.
Phase II data from Genmab have ratcheted up expectations for a fast-track approval of its Johnson & Johnson-partnered treatment for double refractory multiple myeloma. Analysts see the data as strong enough to bring the CD38 monoclonal antibody to market in the first half of 2016.
Revolution Medicines is developing technology it believes can do evolution one better, improving on naturally occurring compounds to transform promising but raw molecules into discrete drug candidates. And, with the help of $45 million from Third Rock Ventures, the biotech is first setting its sites on a pedigreed antifungal therapy.
Amgen wrapped up a second successful Phase III study of its Humira knockoff, ABP501, flagging its head-to-head success in a brief thumb's up announcing that the biosimilar hit its primary and key secondary endpoints. And barring any nasty surprises the positive readout on rheumatoid arthritis should give Amgen the ammunition needed to gun for an approval in a crowded field of late-stage contenders.
Pfizer picked up a speedy FDA nod for palbociclib, a breast cancer treatment with blockbuster potential, barreling toward the market as it works to carve out a bigger share of the oncology space.
The FDA is asking for $4.9 billion in the next fiscal year, a 9% annual hike that would help fund a broad expansion of the agency as it works to modernize.
A small army of protesters united by a diverse set of causes has mobilized in a last-ditch effort to throw up a roadblock to AstraZeneca's ambitious plans to build a sprawling new corporate headquarters and research center in Cambridge, U.K. But the angry backlash against its plans appears to have little chance of delaying the centerpiece project in the pharma giant's big comeback effort.
Baxter is scaling back its support of Onconova's lead candidate, nixing plans to pay for European trials and paring down the potential of what could have been a $565 million deal for the biotech.
The United Kingdom's National Institute for Health Research has teamed up with Johnson & Johnson's Janssen to figure out why anti-TNF drugs are ineffective in some rheumatoid arthritis patients. J&J is funding the collaboration, which is indicative of how the U.K. wants to embed its healthcare infrastructure in drug development.
Jim Mellon wants to put his theory that British and European biotechs are undervalued to the test. The famed investor is trying to raise up to £100 million ($150 million) for a new fund dedicated to small biotechs in the United Kingdom and the rest of Europe.
Isis Pharmaceuticals is touting positive mid-stage results for its in-development Type 2 diabetes treatment, which significantly improved blood sugar levels and body weight. But the company didn't disclose how the drug did against the study's primary goals, clouding its promise and spurring investor doubts.
Kees Been has banked the $20 million round needed to move a bold new development program for delaying or preventing Parkinson's toward the clinic. And the veteran biotech CEO at the helm of Lysosomal Therapeutics Inc. is moving forward with a group of high-profile backers in his corner.
Just weeks after KaloBios' second antibody program ended in an embarrassing failure and CEO David Pritchard quickly exited the company soon after, the biotech has now seen off its chief medical officer and more than 20% of its staff in a restructuring designed to reflect its dwindling pipeline prospects.