News

Concert Pharmaceuticals gathers $48M in new round

Upstart biotech Concert Pharmaceuticals has raised $48 million in its second round of venture capital, adding to the $10 million it raised in round one last July. Flagship Ventures led the round which included Brookside Capital Partners Fund and New Leaf Venture Partners. Three Arch partners, TVM Capital, Skyline Ventures, Greylock Partners and QVT Fund LP also participated. Concert CEO Robert Tung had been vice president of drug discovery at Vertex. The company was launched in …

Actavis to buy Abrika Pharma in $238M deal

Iceland's generic drug maker Actavis has agreed to buy Abrika Pharmaceuticals in the U.S. for up to $238.5 million. Actavis will make an initial payment of $110 million in cash and up to $125 million based on its performance over the next three years. Actavis says the deal will make it a leader in the U.S. for controlled-release drugs. The Icelandic company recently lost a bidding war with Barr for Croatia's Pliva.

- here's the …

SPOTLIGHT: Cardinal puts pharma ops on sales block


Cardinal Health says that it plans to sell its $1.8 billion pharmaceutical services arm. The group packages 100 billion doses of medicines a year for pharma and biotech companies. Cardinal Health wants to focus its business on providers like hospitals and pharmacies. Report

DEALS: Bayer sells H.C. Starck to investors for $1.57B


Bayer sells H.C. Starck to investors for $1.57B

ALSO NOTED: Pfizer vows to triple number of late-stage drugs; Arpida touts superbug drug data; and much more...

> In a meeting with analysts, Pfizer executives said that they would triple the number of experimental drugs in Phase III by 2009. The pharma giant also raised its earnings guidance for 2006. Report

> Switzerland's Arpida saw its shares rise after the drug developer announced that a late-stage trial of …

Pfizer to axe 2,200 sales jobs in realignment

Blaming an onslaught of cheap generic drugs, Pfizer has announced it is cutting its sales force by 2,200, or one in five, in the U.S. For Pfizer CEO Jeff Kindler, it's all part of an ongoing realignment aimed at making the giant pharma company more agile. But it also reflects Pfizer's inability to deliver a group of new blockbusters as well as the …

Kalypsys reaps $100 million in third round

Kalypsys has raised $100 million in its third round of venture capital. Tavistock Life Sciences, one of Kalypsys' previous investors, led the round with an $89 million contribution. Previous investors Sprout Group, CMEA Ventures and KT Venture Group participated in the round. The financing increases the total private equity that Kalypsys has raised to $172 million since February 2002. Kalypsys' pipeline includes KD3010 for metabolic disorders. Other compounds in the pipeline nearing the …

Dynavax stock jumps on hep B data

Shares of Dynavax Technologies shot up 31 percent in after-hours trading after the developer announced that a late-stage trial of its experimental vaccine for hepatitis B showed that it performed better after two doses than three doses of GlaxoSmithKline's vaccine. Two doses of Hepislav protected 98 percent of volunteers compared to 25 percent protected by two doses of Glaxo's Engerix-B. Analysts say the data shows that Dynavax can successfully compete against Glaxo in the $1 billion …

Threshold delays release of glufosfamide analysis

Threshold Pharmaceuticals says it will delay a release on Phase III data for its pancreatic cancer drug glufosfamide until some time in 2007. Threshold also announced it will begin patient screening for two new mid-stage trials of glufosfamide by the end of this year for ovarian cancer and small cell lung cancer. The reason for the delay, according to a Threshold release, is that the trial will end on notification of the 258th death of one of the volunteers in the study. In its timeline …

Seradyn looks to expand following merger

The Indianapolis Star profiles Seradyn, a biotech company acquired in the recent Fisher Scientific/Thermo Electron merger. The life sciences company, which makes drug testing products, says it plans to expand its operations and hire new staff. President Mark Roberts says he plans to add 10 to 15 workers in the lab and raise the company's profile.

- here's the profile from the …

SPOTLIGHT: Novartis plans Phase III trial


Vectura is touting an announcement from Novartis that it will begin a late-stage trial of a new COPD therapy in 2007 that incorporates a drug Vectura developed. Novartis expects to ask for marketing approval of QVA149--a combinatorial therapy--in 2010. Report

C&L: Altus tapped as new ImpactRx CEO

ImpactRx has named Richard C. Altus as president and CEO.

Hemispherx Biopharma has hired Anthony A. Bonelli as president and COO.

Bioenvision has named James S. Scibetta to the post of CFO.

Adnexus Therapeutics has expanded its management team with the appointment of Bruce A. …

ALSO NOTED: Acorda gains $10M in funds; Supreme Court debates patent law; and much more...

> Acorda Therapeutics has amended its deal with Paul Capital Healthcare to gain up to $10 million in additional funds. Release

> Pain Therapeutics says its painkiller PTI-202 successfully completed a Phase I trial. Release

> The U.S. Supreme Court debated a critical test of U.S. patent law in a case that has …

Press Release: Zila Transitions to Cancer Detection Company

Press Release: Zila Transitions to Cancer Detection Company

Press Release: Auxilium Pharmaceuticals Amends Agreement with Cobra Biologics

Press Release: Auxilium Pharmaceuticals Amends Agreement with Cobra Biologics

Press Release: Pain Therapeutics Announces Positive Phase I Study Results With PTI-202

Press Release: Pain Therapeutics Announces Positive Phase I Study Results With PTI-202

Press Release: Acorda Therapeutics to Receive Up to $10 Million from Paul Capital Healthcare

Press Release: Acorda Therapeutics to Receive Up to $10 Million from Paul Capital Healthcare

Press Release: Dynavax's HEPLISAV Hep B Vaccine Shows Results In Phase 3 Trial

Press Release: Dynavax's HEPLISAV Hep B Vaccine Shows Results In Phase 3 Trial

Press Release: Threshold Pharmaceuticals Announces Guidance Change for Release of Phase 3 Trial Results

Press Release: Threshold Pharmaceuticals Announces Guidance Change for Release of Phase 3 Trial Results

Press Release: Pfizer to realign U.S. sales organization

Press Release: Pfizer to realign U.S. sales organization