The biotech says it will use the cash to "accelerate and expand its stem cell technology-based drug rescue programs."
Shares of Italy's Gentium plunged more than 40% this morning after the biotech announced a fresh round of woes with regulators--this time in Europe--for its vascular drug defibrotide.
The FDA awarded orphan drug status to Lentigen's brain tumor stem cell treatment that protects healthy cells from a particularly toxic cancer drug. The orphan drug designation, an incentive for companies developing treatments for rare diseases, allows for 7 years of market exclusivity.
Pluristem Therapeutics ($PTSI) fired off a press release yesterday demanding corrections to a Bloomberg article this week about the company's stock sale that followed the undisclosed death of a patient who got the biotech's experimental stem cell therapy. Below the demand, in its statement, the company let loose another important detail: That not one, but two of three patients who received its therapy under compassionate use guidelines died after treatment.
Back in August, Israel's Pluristem Therapeutics ($PSTI) breathlessly announced that its stem cell therapy had saved the life of a 54-year-old woman teetering on the brink of death. A clinical investigator was quoted in the company's release calling the intervention with its PLX cells a "real breakthrough," coming just months after another life-saving intervention with a 7-year-old.
Back in early 2011 Geron CEO Thomas Okarma was forced to step aside as the biotech prepared to bring in a new CEO to restructure the operations. Now Okarma is back, leading a new regenerative medicine venture set up by BioTime. And he wants his stem cell work back.
Five years after Shinya Yamanaka at Kyoto University shook the R&D world with the news that he had converted mature cells into embryonic-like stem cells, the Nobel committee has awarded him one of this year's prestigious prizes for medicine.
Frank Morales and Lawrence Stowe face jail time for their scam, which the TV show "60 Minutes" covered with hidden cameras back in April 2010, according to a CBS News report.
Just 10 months after new Geron CEO John Scarlett dumped a decade's worth of stem cell work in favor of a special focus on cancer drugs, the biotech has written off a pair of lead drug studies after tracking discouraging progression-free survival data in Phase II.
Melanoma stem cells are marked by a particular enzyme that could serve as a potent new target for treatment, a University of Colorado Cancer Center study concludes.