News

Forest Labs kills pact for Replidyne's antibiotic

Forest Laboratories has backed out of a deal with Replidyne for the development of a new antibiotic, faropenem medoxomil, four months after the FDA rejected the therapy. Replidyne says Forest made the move after reviewing data on the antibiotic and considering the consequences of the agency's decision. Replidyne plans to continue development work, but noted that the FDA's rejection raises uncertainties. A year ago Forest gave Replidyne $50 million up front and a promised schedule of …

SPOTLIGHT: Proacta raises $35M in venture funds


San Diego-based Proacta has garnered $35 million in its second round of venture capital. Much of that money will be used to develop PR-104, a compound that is designed to kill cancer cells. "PR-104 has the potential to be less toxic and more potent than current therapies. In addition, PR-104 in combination with current chemotherapy and biologic regimens offers the promise of improving current cancer treatments." Clarus Ventures led the round. Release

C&L: Ivrea taps Daniel Lynch for top job

Ivrea Pharmaceuticals has named Daniel S. Lynch as president and CEO. Lynch spent nearly five years at ImClone Systems as both CFO and CEO.

AM-Pharma has named Bart Wuurman, M. Sc. as CEO, replacing Bruno Giannetti, MD., Ph.D., who left AM-Pharma in December.

Christopher J. Moreau has …

ALSO NOTED: 3SBio launches IPO above range; ViaCell axes development program; and much more...

> 3SBio shares were trading at $16.69 this morning, above the $12 to $14 share range given for the IPO. The company is looking to develop and market drugs in China. Release

> ViaCell has axed a development program for a new umbilical cord blood therapy after a small Phase I trial failed to demonstrate the kind of efficacy it was looking for. The therapy was well tolerated, according to researchers, but didn't stay in the …

Press Release: Orion Updates Progress with Simdax

Press Release: Orion Updates Progress with Simdax

Press Release: Stratagene Acquires Rights to microRNA Sequences

Press Release: Stratagene Acquires Rights to microRNA Sequences

Press Release: ActoGenix Raises 11.5 Million Euro's In Series A Stock Financing

Press Release: ActoGenix Raises 11.5 Million Euro's In Series A Stock Financing

Press Release: Cell Genesys Secures $75 Million Committed Equity Financing Facility

Press Release: Cell Genesys Secures &75 Million Committed Equity Financing Facility

Press Release: ImClone Systems Opts-out of Development Agreement with UCB

Press Release: ImClone Systems Opts-out of Development Agreement with UCB

Press Release: Genta To Appeal FDA Action On New Drug Application Of Genasense

Press Release: Genta To Appeal FDA Action On New Drug Application Of Genasense

Press Release: Laureate Pharma Announces Collaboration With Boehringer Ingelheim

Press Release: Laureate Pharma Announces Collaboration With Boehringer Ingelheim

ImClone bows out of lung cancer pact with UCB

ImClone is opting out of a deal with UCB to develop a new lung cancer therapy. ImClone says it wants to focus its attention on the antibody IMC-1121B, which targets a protein involved in the development of lung cancer. ImClone retains a royalty interest in CDP-791 if UCB can commercialize the therapy.

"The development of CDP-791 is progressing well and we are eagerly …

Cell Genesys gains $75M in R&D funds

Cell Genesys has come up with a fresh $75 million in financing to back its R&D work on new cancer therapies. Kingsbridge Capital will provide the money over three years through its purchase of new shares. Cell Genesys has exhausted the funds from an earlier financing deal with Kingsbridge.

"We are very pleased with the outcome of our first CEFF with Kingsbridge," said Sharon E. Tetlow, chief financial officer of Cell Genesys. "We raised about $35.1 million in proceeds by …

Indonesia prepares deal with Baxter for bird flu vaccine

Indonesia has stopped providing researchers with genetic samples collected from new cases of bird flu, saying that it wants to protect its intellectual property rights in the development of a new vaccine. Sometime tomorrow Baxter International is expected to announce a deal with the government to develop a new vaccine for bird flu. Health officials say the move is likely to slow …

Orion considers $26M Phase III Simdax trial

Finland's Orion Corporation is considering putting up $26 million to fund a new Phase III trial of the heart failure drug Simdax. Orion officials announced that they are in talks with Abbott Laboratories about the further testing of the therapy. Both companies plan discussions with the FDA over the trial, set to begin in March.

- check out this press release for more
- here's the …

Belgian start-up closes first round with €20M

The Belgian spin-off of VIB, ActoGeniX, has garnered a total of €20 million in its first round. GIMV is adding €8 million in a second tranche, with Life Sciences Partners acting as co-lead investor. New investors include Aescap, Ventech and Baekeland Fonds. ActoGeniX is developing a pipeline of therapeutic products based on its TopActTM technology platform, a proprietary delivery system comprising living non-pathogenic micro-organisms for the oral administration of …

SPOTLIGHT: Novartis, Teva eye Aurobindo


India's Aurobindo Pharma is reportedly in talks with Novartis and Teva over the sale of a strategic investment in the antibiotics manufacturer. No one at any of the companies was talking, but Aurobindo's role in supplying low-cost generics to developing countries offers a tempting target for global pharma companies like Novartis and Teva. Report

ALSO NOTED: FDA asks for more data on Rebif; Genta to appeal Genasense decision; and much more...

> Merck KGaA says that the FDA is requesting more information on a new version of the MS drug Rebif, possibly delaying its entry into the U.S. market. Report

> Genta plans to appeal the FDA's December rejection of the cancer therapy Genasense. Release

> The …

Press Release: Wyeth Pharmaceuticals and Nautilus Biotech Announce Collaboration to Develop Hemophilia Therapies

Press Release: Wyeth Pharmaceuticals and Nautilus Biotech Announce Collaboration to Develop Hemophilia Therapies