> 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 body long enough to demonstrate an ability to rebuild blood cells. The therapy was being tested for patients with advanced blood cancers who were not able to find a bone marrow donor. Release
> Biogen Idec has begun a clinical trial on a new leukemia therapy, lumiliximab, which has gained fast track status. Report
> Singapore's S*Bio has signed a collaboration deal with A*Bio to develop new cancer therapies. Release
> Italy's Gentium has raised $47.5 million through a private placement. Release
> Scolr Pharma announced it is ending development of extended-release phenylephrine tablets after reviewing discouraging preliminary test results. Researchers plan to focus on the program for an extended-release formulation of pseudoephedrine. Release
> Acorda Therapeutics has banked a $5 million payment from Paul Capital Healthcare. Release
> Pfizer is appealing a ruling by a Chinese court rejecting its right to use a popular local nickname for the drug. Report
And Finally… An international study concludes that Trasylol, used in surgeries to prevent excessive bleeding, may raise the risk of death in the five years after surgery by 50 percent. Report