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ALSO NOTED: ASCO already churning out news; Lilly, FDA ironing out Zyprexa shot problems; and much more...

Fri, 30 May 2008 06:59:50 -0400

> Today marks the start of the annual ASCO. Here's a round-up of some of the news coming out of the conference. ASCO report

> More from the Web-marketing frontier, where portals and blogs are passé: An Arizona entrepreneur is working up a site where cancer doctors and drugmakers can mix and mingle. Report

> Pharmacy records could soon become an open book in California. Yesterday, the state Senate passed a bill allowing pharmacies to sell patient info to third-party firms working for drugmakers. Report

> Eli Lilly says it's making progress with the FDA on approval of its long-acting, injectable form of Zyprexa. FDA report

And Finally... Solving the mystery of why type 1 diabetes is so prevalent in Finland could be the key to teasing out the causes of the disease. Report

Celtic plots $1.5B equity funds to fuel biotech deals

Tue, 11 Dec 2007 06:59:58 -0500

Big Pharma's growing appetite for experimental biotech drugs has spurred the creation of two new funds calculated to profit on the trend. Celtic Pharma, a private equity group, is launching two new funds that will reportedly top $1.5 billion to invest in experimental biotech drugs that can be resold to Big Pharma companies scrambling for new drug prospects. One of the funds--based in the U.S. and led by Stephen Evans-Freke--is being designed to buy mid-stage therapies, shepherd them through late-stage trials and then auction them off to the highest bidder. Another fund--based in the U.K. and run by John Mayo--will take controlling interests in biotech companies and advance therapies through to proof-of-concept, when they can be sold.

"In Celtic Pharma's first fund we have assembled a diverse range of projects which are all progressing satisfactorily through clinical development and we believe will create substantial value for our investors," the company said in a release. "We have already begun the exit process for some of these products which will gather pace during 2008. Accordingly, it is now an appropriate time to be commencing the launch of new funds."

- see this release
- and here's the article from the Financial Times

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Lines blur as Big Pharma crosses borders into biotech. Report

Bill could improve funding for small biotechs

Fri, 05 Oct 2007 06:59:55 -0400

In a victory for small biotech, the U.S. House passed a bill that allows small companies to be eligible for federal small-business programs even if they're majority-owned by VC firms. Biotechs can often go for a decade or more before marketing a product, and they rely on investment from VC firms to keep the company going through the early stages of drug development. However, by the time a biotech has a marketed drug, VCs can own a large chunk. This means that the small company isn't eligible for Small Business Innovation Research (SBIR) awards.

The new legislation will lift current restrictions, giving small biotechs access to SBIR awards as long as VC firms own less than half of the company. "Private investment in small business is a good thing and should be encouraged, not discouraged," said Rep. Sam Graves (R-MO), the bill's co-sponsor. However, among other concerns, critics say opening up SBIR awards to more established companies will make competition harder for small start-ups.

- read the Baltimore Business Journal article

Related Articles:
Biotech sees big money from corporate players. Report
Pfizer to invest $50M in biotech start-ups. Report
Biotech: An industry of the living dead? Report