Research Triangle Park, NC-based Chimerix has inked its first big partnership, reaping a $17.5 million upfront payment and a promise of up to $151 million more from Merck, which gains rights to a mid-stage antiviral--CMX157--which has prospects as a new addition to future HIV cocktails.
Two years after putting together a $50 million round, PTC Therapeutics has gone back to the venture well and drawn up a bucket of bucks worth $30 million. The money will be used to back the late-stage development of ataluren, PTC's lead program for Duchenne/Becker muscular dystrophy as well as cystic fibrosis.
Dow Jones ' VentureSource helped keep up the drumbeat of bad venture news at the end of last week, offering its own dismal assessment of the investment scene for biotech companies.
More grim news on the venture front arrived today, with the latest figures from the National Venture Capital Association showing that venture cash flow into U.S. biotech companies dropped for the second consecutive quarter.
A tiny, upstart biotech based in a college incubator facility has landed $12 million in venture cash and a high-profile CEO to lead the company's work on small molecules that are delivered in pieces and self-assemble inside of cells.
The flow of venture capital dollars into the biotech industry is rapidly slowing down. In its snapshot of second quarter trends, Bloomberg Industries is reporting that there were only 59 deals in the last quarter, with a woeful average of $9.3 million a deal.
Edmond de Rothschild Investment Partners, a high-profile venture player in the European life sciences scene, has braved a tough financial environment and rounded up a bit more than $152 million for its fourth biotech fund.
About a year-and-a-half ago Avalon Ventures' founder Kevin Kinsella caused a stir when he attacked pharma companies for their "predatory" deals with biotech companies. Now the San Diego-based investor is back, offering his hometown newspaper some highly quotable views on biotech investing, the personalized medicine trend, the futility of gene sequencing and more.
In drug development circles the U.K.'s NICE is known as something of a Grinch. Developers routinely spend huge sums getting their drugs through the regulatory process only to have the agency bat them down as too expensive.
This week marks the arrival of the 2012 BIO International Convention, set for June 18-21 in Boston.This will be the first time in a while that the industry can look back over the past year and see some real progress, and also feel optimistic about the months ahead, BIO President and CEO Jim Greenwood argues.