Intercept Pharmaceuticals' new drug for the pervasive liver disease NASH came up short in a Phase II trial in Japan, seeding some worries about an ongoing late-stage study designed to support future FDA approval.
Over the long holiday weekend, Dainippon Sumitomo's shares took a beating--dropping 21% at one point, according to Bloomberg--as investors reacted to the news that BBI608 proved to be a dud in its most advanced trial for colorectal cancer.
Japan's Dainippon Sumitomo Pharma has expanded its alliance with upstart Edison Pharmaceuticals, committing $50 million to jointly develop treatments for orphan diseases with nearly $4 billion more tied to down-the-road milestones.
Edison Pharmaceuticals shed its stealth mode and went public with a $545 million-plus collaboration deal with Japan's Dainippon Sumitomo that centers on its lead late-stage drug for rare diseases.
Just days after rounding up $30 million in venture cash, New York-based Intercept Pharmaceuticals is boldly gambling that investors will cough up about $75 million to buy into a late-stage orphan drug for chronic liver disease. The biotech filed for an ambitious IPO, hoping it can avoid the price cuts that most other such development-stage biotech bids have been forced to endure in recent years.
Nitto Denko and Dainippon Sumitomo have started a Phase II trial of a transdermal patch delivering Dainippon Sumitomo's antipsychotic Lonasen (blonanserin), which has been launched in Japan and South Korea.
Boston Biomedical's focus on targeting cancer stem cells has paid off.
Chelsea Therapeutics ($CHTP) has racked up some more positive efficacy data for its lead drug droxidopa, which is now up for review at the FDA. Investigators reported the drug spurred a statistically
While the FDA reviews its application for approval of the experimental drug, Sunovion Pharmaceuticals revealed upbeat data from a major Phase III trial of its ciclesonide nasal aerosol against...
Japan's Dainippon Sumitomo is slapping down $15 million and promising up to $300 million more in milestones in exchange for the rights to Intercept Pharmaceuticals' late-stage liver disease drug in