The Medicines Company is on a roll with the FDA, gaining two firsts for approvals: a spray powdered fibrin surgical sealant and a needle-free, patient-controlled fentanyl patch. The company was up 5% in early trading on the FDA approvals news, which came after market close on April 30.
After scuttling development of a blood-loss therapy in October, The Medicines Co. notched two deals and laid down about $300 million to bolster its offerings for the hospital market. The larger of the two deals was the buyout of Incline Therapeutics for $185 million up front to gain the developer's Ionsys system for dispensing the painkiller fentanyl.
In a flurry of deals, California startup Incline Therapeutics has landed a $43 million Series A to back the development of a pain med delivery system and landed a $3.5 million upfront for an option