Tag:
Inex Pharmaceuticals
Latest Headlines
Latest Headlines
ALSO NOTED: Reports question BMS, Sanofi talks; Lexicon Genetics changes name and focus; and much more...
> New reports are surfacing that Bristol-Myers and Sanofi-Aventis may not be in merger talks, after all . But the companies are officially staying mum, and the silence has spurred intense activity for shares of both company. Report
> Lexicon Genetics is changing its name to Lexicon Pharmaceuticals …
ALSO NOTED: Intercell touts Phase III safety study; Icahn joins ImClone board; and much more...
> Austria's Intercell says a Phase III safety study of its Japanese Encephalitis virus vaccine--which is scheduled for a 2007 launch--showed no adverse effects. The vaccine will be marketed by Intercell partner Novartis. Report
> Carl Icahn and three associates will go on the board of ImClone systems as part of a …
ALSO NOTED: QuatRx pulls IPO; GSK's Avandamet gains new approval; and much more...
> QuatRx Pharmaceuticals has yanked its IPO, citing market conditions. Release
> The FDA has given GlaxoSmithKline's Avandamet approval as a front-line therapy for Type 2 diabetes. It won approval as a second-line therapy for some diabetes patients in 2002. Report
> Athenagen and Zapaq, both …
DEALS: Novartis leads with two $500M+ deals
Novartis leads with two $500M+ deals.
Inex inks $42M deal for three cancer therapies
Canada's Inex Pharmaceuticals has agreed to license three of its experimental cancer therapies to Hana Biosciences for up to $42 million in milestone payments. The licensing deal includes Marqibo, which is scheduled for a big cancer trial later this year. San Francisco-based Hana agreed to pay $11.5 million up front with the rest of the milestones covered by Hana stock.
- here's the AP report
ALSO NOTED: Arqule lays off workers; Nobex to sell assets; EMEA staff supports Myozyme; and much more...
> Two months after Pfizer canceled a major collaboration, Arqule says it will lay off 125 workers and focus on cancer-related products. The Woburn, MA-based Arqule had earned $50 million a year from the partnership and still expects to gain $20 million from the termination. Report
> Weeks after filing for bankruptcy protection, Durham, NC-based Nobex says it will auction off its …
C&L: Ruane promoted to CEO of Inex
Inex Pharmaceuticals named Timothy M. Ruane , president and COO, as its president and CEO.
Nancy Chang , Ph.D., co-founder, president and CEO of Tanox, will assume the role of chairman of the company's board of directors. She replaces Osama Mikhail , Ph.D., who will assume the position of lead director. …
SPOTLIGHT: Inex to spin off assets
Vancouver-based Inex Pharmaceuticals plans to spin off its immunotherapy assets and some cash into a new company as it focuses on the development of its oncology therapy Marqibo. Inex would keep a minority stake in the new venture. Report
SPOTLIGHT: Inex note holder demands repayment
Inex Pharmaceuticals of Canada says that a majority note holder is demanding repayment of $24.6 million, saying the biotech is in default. Inex denies it is in default. The company owes $32.7 million in promissory notes originally issued to Elan and subsequently sold to institutional investors. Release
INEX restructures, lays off workers
Vancouver-based Inex Pharmaceuticals is cutting more than half of its workforce and bidding farewell to several top executives, including CEO David Main. Also leaving INEX are Tom MacRury, senior vice president of technical operations, and Alexandra Mancini, senior vice president of clinical and regulatory affairs as the company reduces its payroll from 57 employees to 22. After severance payments, INEX says it will have $16 million of cash on hand to push ahead into 2006. The remaining …
