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Press Release: Semafore Pharmaceuticals Completes $9.5 Million Equity Financing

Press Release: Semafore Pharmaceuticals Completes $9.5 Million Equity Financing

Press Release: OSI Pharmaceuticals Licenses Its Glucokinase Activator Program to Eli Lilly

Press Release: OSI Pharmaceuticals Licenses Its Glucokinase Activator Program to Eli Lilly

Speculation heats up on fate of AGI-1067

There's an intense amount of market buzz focused on AtheroGenics' lead drug candidate, AGI-1067. The wire services have noted that the company's CEO--Russell M. Medford, M.D., Ph.D (photo)--is preparing to make a presentation at the J.P. Morgan conference next Wednesday and hard data from the Phase III trial is due to be released at the ACC meeting in New Orleans, leading to some speculation that the company is working out the …

OSI licenses diabetes drug to Lilly in $385M pact

OSI has licensed the exclusive rights to PSN010--its early-stage diabetes drug--to Eli Lilly for $25 million up front and up to $360 million in milestones plus royalty payments. The drug is designed to fight type 2 diabetes by promoting glucokinase, a protein that prompts the pancreas to make more insulin while promoting better control of glucose.

David Moller, M.D., Lilly's vice president, endocrine and cardiovascular research and clinical investigation commented: "This …

Genentech cites "encouraging"pertuzumab data

Genentech announced that its experimental ovarian cancer drug pertuzumab "encouraging" data in a mid-stage trial, but one news report quoted an analyst who claimed the company had confirmed that the trial had not produced statistically significant results. The full range of data will be presented at an upcoming medical gathering. The study collected data on 130 women with advanced ovarian cancer. A news service quoted analyst Jason Kantor who reportedly confirmed that while the data was …

Synosis taking a second crack at Roche drugs

Start-up developer Synosis Therapeutics has reached a deal with Roche to put a group of once-promising drug candidates back into the clinic. The deal gives Synosis control of five drug candidates that Roche had studied before halting development. The package includes four early-stage drugs targeting CNS diseases. Synosis will be responsible for clinical development of the drugs while Roche retains opt-in rights. Financial details were not disclosed.

- check out this …

Merck KGaA confirms possible sale of generics unit

Germany's Merck KGaA has confirmed yesterday's rumor that it is considering the sale of its generics drug business. A sale would net billions of dollars for the drug company, which also announced that it had completed the acquisition of Switzerland's Serono and is focusing on new drug development. Israel's Teva, Sanofi-Aventis and Novartis have been named as potential suitors. …

SPOTLIGHT: Lilly settles Zyprexa claims

Eli Lilly has settled another 18,000 claims generated by its controversial antipsychotic drug Zyprexa. Lilly says the settlement won't reduce fourth-quarter profits by more than $500 million. Report

ALSO NOTED: Semaphore closes $9.5M round; VaxGen looks to refocus; BioCryst wins $102M contract; and much more...

> Indianapolis-based Semafore Pharmaceuticals has completed a $9.5 million second round of venture financing. Much of the money will be used to advance Semafore's clinical program for SF1126, its lead PI3 Kinase inhibitor for the treatment of cancer. "This is an exciting time for Semafore, as we prepare to initiate Phase l clinical trials of our lead PI3 Kinase inhibitor SF1126 and transition into a clinical stage company," said John Sima, interim CEO and COO of Semafore. …

Poll shows support for Democrats' stem cell agenda

All eyes are on Washington D.C. as Democrats regain control of Congress today, and one of the incoming party's top priorities will be making easier for Americans to buy cheaper prescription drugs from other countries. An Associated Press-AOL News poll found that 69 percent of respondents support legislation that would makes these inexpensive drugs easier to acquire. "Importing prescription drugs to the United States is illegal, but the FDA generally does not bar individuals from bringing in small amounts for personal use," explains the AP. Some medications cost significantly less in other countries than they do in the United States; however, officials don't think that this will force down the price of prescription drugs in the United States.

Press Release: Pharmacopeia Enters Into a Research and License Agreement With Wyeth

Press Release: Pharmacopeia Enters Into a Research and License Agreement With Wyeth

Press Release: BioAxone Therapeutic Licenses Phase II Spinal Cord Injury Drug Cethrin to Boston Life Sciences

Press Release: BioAxone Therapeutic Licenses Phase II Spinal Cord Injury Drug Cethrin to Boston Life Sciences

Press Release: Elusys Announces Collaborative Research and License Agreement with Pfizer

Press Release: Elusys Announces Collaborative Research and License Agreement with Pfizer

Press Release: Genaera Corporation Terminates Evizon Clinical Program and Restructures

Press Release: Genaera Corporation Terminates Evizon Clinical Program and Restructures

Press Release: AVEO Acquires Clinical Stage Anti-Cancer Compound From Kirin

Press Release: AVEO Acquires Clinical Stage Anti-Cancer Compound From Kirin

Press Release: Variation Biotechnologies Secures $35.7M in Series A Financing

Press Release: Variation Biotechnologies Secures $35.7M in Series A Financing

Press Release: Biogen Idec to Acquire Syntonix

Press Release: Biogen Idec to Acquire Syntonix

Genaera cans AMD therapy, slashes staff

Genaera will cut its staff by 30 percent as it shutters its development program for Evizon, an experimental therapy that has been in mid-stage trials for wet age-related macular degeneration. Genaera reported disappointing results from the most recent mid-stage study. Company officials announced that Genaera now plans to shift its focus to trodusquemine (MSI-1436), a new obesity drug in Phase I as Banc of America Securities is brought on to explore "strategic alternatives."

"This …

Merck KGaA reportedly considering generics sale

Germany's Merck KGaA is mulling the possible sale of its generics drug business, according to a news report. The unit could be worth about €4 billion and the money would help fund its acquisition of Switzerland's Serono as it focuses on developing new therapies. Any sale would likely be to financial investors, analysts note. The European drug company declined to comment on the report.

- here's the AFX

Biogen to buy Syntonix in $120M deal

Biogen Idec has moved to beef up its pipeline by acquiring Syntonix Pharmaceuticals for $40 million down and up to $80 million in milestone payments. Biogen Idec says it will maintain Syntonix's 25,000-square-foot facility in Waltham, MA. Biogen gains a lead product for hemophilia B and technology for developing inhalable treatments.

- here's release on Biogen's latest deal

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