Two more biotech outfits emerged this week as contenders to complete initial public offerings, highlighting the open season for the deals this year. Bluebird bio and PTC Therapeutics has mounted campaigns to go public with pipelines that target the molecular causes of rare genetic diseases.
PTC Therapeutics has scored new financing to bankroll development of a compound for certain types of Duchenne muscular dystrophy and cystic fibrosis.
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.
AVI Biopharma heralded the news that its lead therapy hit the primary endpoint in a Phase IIb study, increasing levels of dystrophin in a tiny trial for Duchenne muscular dystrophy, but the boys did not experience a significant improvement in walking ability,
Joining a race of pharma giants to treat rare cases of spinal muscular atrophy, Biogen Idec ( $BIIB ) has committed up to $299 million to grab rights to an antisense drug program in the pipeline at
Swiss drug giant Roche has bought exclusive rights to PTC Therapeutics ' program for spinal muscular atrophy (SMA) for $30 million upfront, providing PTC with another major pharma collaboration to
Genzyme is walking away from a troubled program at PTC Therapeutics after spending $100 million back in 2008 to gain rights in certain markets for ataluren, which is being evaluated to treat rare
AstraZeneca and PTC Therapeutics are joining forces for cancer cures, using PTC's proprietary discovery/development technology platform. AZ will front an undisclosed amount of cash to start work on
Over the coming weeks and months, I'll have a lot to say about the JP Morgan event in San Francisco. The key point that I came away with is that there are an awful lot of biotech companies that have
PTC Therapeutics' lead drug ataluren failed a Phase IIb trial, flunking a test of its ability to improve the physical performance of patients with a rare genetic disorder. Genzyme is partnered on the