News

Medivation buys into PD-1, picking up where Teva left off

The prostate cancer experts at Medivation are getting into the hot field of checkpoint inhibitors for cancer, agreeing to pay Israel's CureTech as much as $335 million for the full rights to a promising Phase II asset.

Ariad flips Iclusig's Asian rights to Otsuka for $77.5M-plus

Embattled biotech Ariad Pharmaceuticals has signed a deal with Japan's Otsuka to trade the Asian rights to its top cancer drug in exchange for $77.5 million and the promise of more down the line.

Astellas adds to deal spree with expanded $675M-plus Cytokinetics pact

Astellas has capped a string of new drug development deals by upping the ante on its pact with South San Francisco-based Cytokinetics. After handing over a $40 million upfront fee for their original 2013 deal, Astellas has come back with $75 million more in near-term financing and more than $600 million in milestones on the table.

Best and worst 2014 biotech performers on Wall Street

A little profit-taking in biotech into year end is only to be expected from Wall Street after such a strong year. Some of the most likely victims for a bit of bloodletting are the strongest winners. Or these companies might be able to keep up their momentum on the back of biotech excitement going into the definitive industry extravaganza, the J.P. Morgan Healthcare conference in mid-January.

UPDATED: Bristol-Myers' pioneering PD-1 drug Opdivo OK'd by FDA for melanoma

Bristol-Myers Squibb has won a pioneering FDA approval for Opdivo (nivolumab), its top therapeutic asset in the pipeline, as a new therapy for melanoma.

ImmusanT banks $12M round for PhII celiac vaccine study

Cambridge, MA-based ImmusanT has raised $12 million to back its midstage program for a new peptide-based therapeutic vaccine to combat celiac disease.

Back from the scrap heap, BioCryst wins OK for IV flu drug

BioCryst Pharmaceuticals won its first-ever FDA approval for a new treatment and subsequently saw its shares slide as analysts yawned over its sales potential.

Cubist scores another FDA nod on the eve of its $9.5B Merck merger

Cubist Pharmaceuticals picked up FDA approval for its latest antibiotic contender, a potential blockbuster whose promise helped bring Merck to the table with a $9.5 billion buyout offer.

UPDATED: J&J steps up with $700M deal for MacroGenics' blood cancer drug, shares spike

Johnson & Johnson is fronting $125 million to gain the worldwide license on a bispecific cancer drug from MacroGenics, with up to $575 million more promised in prospective milestones for a successful development program. And the biotech says that the deal marks the beginning of a new program for a drug designed to stir a T cell attack against blood cancers.

UPDATED: Achillion shares surge as hep C combo scores a quick 6-week cure

Shares of Achillion rocketed up Monday morning after the biotech reported that its NS5A drug combined with Gilead's Sovaldi scored a quick cure among a small group of hepatitis C patients after only 6 weeks of treatment.

UPDATED: AbbVie wins blockbuster hep C approval, starts wheeling and dealing on price

AbbVie won an expected FDA approval for its next-generation treatment for hepatitis C, kicking off a race with Gilead Sciences for dominance in a blockbuster field.

AstraZeneca grabs a surprise early approval for its $2B cancer contender

Despite loud objections from its advisers, the FDA granted an accelerated approval to AstraZeneca's ovarian cancer treatment, clearing an oral therapy the U.K. drugmaker believes will bring in blockbuster sales.

ImmunoGen plummets as its Roche-partnered cancer drug comes up short

ImmunoGen watched its shares fall by 50% when partner Roche revealed disappointing results for the pair's targeted cancer drug, casting doubts on the biotech's technology for creating armed antibodies.

Scientist Andy Plump steps in at Takeda as R&D chief

Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Michael Gibney (email | Twitter)...

Gilead buys into Ono's cancer drug as it scales up in oncology

Gilead Sciences is pushing further into oncology R&D, teaming up with Ono Pharmaceutical on a cancer treatment that could complement its first major success in the field.

Lilly makes amends with Adocia in $570M diabetes deal

Eli Lilly is buying back into Adocia's pitch for a fast-acting insulin, reversing an earlier decision and signing a collaboration deal worth up to $570 million.

Eli Lilly rekindles Adocia partnership, Cell Therapy Catapult spends $85M on manufacturing center

Welcome to the latest edition of our weekly EuroBiotech Report.

UPDATED: Juno banks a $265M IPO, pushing the next big thing in oncology

Seattle's Juno Therapeutics managed to top the already superlative expectations for its Wall Street debut, grossing about $264.6 million and pulling off the Nasdaq's biggest 2014 biotech IPO in the waning days of a huge year.

Roche scuttles PhIII Alzheimer's study in yet another setback for the field

Yet another big Phase III test of an experimental Alzheimer's drug has flopped. And this time it's Roche's turn to admit defeat.

Roche boosts its antibody arsenal with a $489M buyout

Roche is betting big on antibodies that can attack two targets at once, signing on to buy Austria's Dutalys for as much as $488.8 million and get its hands on some proprietary technology.