Molecular diagnostics outfit Biodesix raked in $11 million in additional Series E financing to develop its blood-based test for non-small cell lung cancer, months after the company locked in new funds to support its commercialization efforts.
Over the weekend, Clovis Oncology took another big step toward its near-term goal of launching commercial operations, with plans to take pharma giant AstraZeneca head-on with two key franchise showdowns. The Boulder, CO-based biotech posted positive data from a mid-stage study of its ovarian cancer drug rucaparib at ASCO, while adding new--though less impressive--data to back up its lead drug for non-small cell lung cancer.
Three years after Takeda decided to double down on motesanib for non-small cell lung cancer, in-licensing full rights to the drug from Amgen following their big Phase III failure in 2011, the company has once again come up empty-handed in a major late-stage test of the therapy.
Biodesix reeled in an additional $12 million in Series E financing for its blood-based test for non-small cell lung cancer, bringing the company's proceeds from the sale to $27 million.
Bind Therapeutics believes its lead nanoparticle treatment can make a difference for a subgroup of lung cancer patients, pointing to some positive results from an otherwise mixed mid-stage trial as it prepares for further study.
Bristol-Myers Squibb's closely watched checkpoint inhibitor nivolumab managed to wow analysts this morning with impressive survival results in a Phase II study of patients with advanced squamous cell non-small cell lung cancer. Of all the patients in the drug arm, 41% were alive at the one-year mark, while investigators tracked an overall response rate of 15%.
Among the scrum of drugmakers racing forward with a new class of cancer treatments, Bristol-Myers Squibb was the first to win a global regulatory nod and is now first in line for approval in lung cancer, a particularly lucrative indication for the group of promising oncology drugs.
Roche's Ventana Medical Systems and MedImmune said they will jointly develop an assay to help test a MedImmune immunotherapy for non-small cell lung cancer.
Another newly discovered biomarker is now under consideration as a tool to help evaluate and treat disease. When the body expresses it, it appears to be tied to better survival chances in both non-small cell lung cancer and head and neck cancer.
After nearly 25 years at biotech GTx, CEO Mitchell Steiner has stepped down from the top spot, leaving behind a drug developer working to salvage its pipeline after a devastating late-stage setback.