Affymax

Affymax, Takeda suspend ESA development

Maureen Martino — Fri, 29 Aug 2008 10:47:09 -0400

Affymax and partner Takeda have announced that they will suspend development of the drug Hematide for chemotherapy-induced anemia due to the "uncertain regulatory landscapes for erythropoiesis-stimulating agents (ESAs) in oncology indications." The drug was in Phase I trials. Affymax and Takeda say they are still testing Hematide for anemia related to chronic renal failure. Phase III trials are underway in the U.S. and Phase I/II trials are ongoing in Japan. Affymax was a 2006 Fierce 15 company.

Affymax and Takeda aren't the first companies to shelve an ESA program. In June, Neose decided to halt further development of its experimental anemia drug. Revenue from the ESA category has been falling steadily as federal and private payers enforce limits on their use.

- see the release

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And Finally... Depressed teens that self-medicate with marijuana only trigger more serious mental ailments. Release

Press Release: Affymax Receives $10 Million Milestone Payment

Maureen Martino — Thu, 01 Feb 2007 11:57:05 -0500

Affymax Receives $10 Million Milestone Payment From Takeda Pharmaceutical Based On Progress In Hematide Clinical Program

PALO ALTO, Calif., Feb. 1 -- Affymax, Inc., a biopharmaceutical company, today announced that it has received a $10 million development milestone payment from Takeda Pharmaceutical Company as part of the companies' exclusive global agreement to develop and commercialize Hematide(TM), Affymax's lead product candidate, for the treatment of anemia. The milestone was achieved with the completion of Phase 1 clinical testing of Hematide in normal healthy volunteers in Japan.

"Our collaboration with Takeda is off to a great start with the successful completion of this initial clinical development milestone," said Arlene M. Morris, Affymax's president and chief executive officer. "We look forward to continued progress in the Hematide development program as we move towards initiation of our Phase III clinical trials in chronic kidney disease and initiation of a Phase IIb clinical trial in oncology. The terms of our strategic alliance with this important global partner allow us to play a significant role in the development and commercialization of Hematide."

Affymax and Takeda are collaborating on the development of Hematide and will co-commercialize the product in the United States. Takeda holds an exclusive license to develop and commercialize Hematide outside the United States, including Japan. Affymax leads the renal development program and commercialization in the U.S., while Takeda leads the oncology development and commercialization program worldwide and the renal development and commercialization ex-U.S.

Under the terms of the collaboration, Affymax received $122 million in upfront license fees and $10 million from the sale of equity. Affymax is eligible to receive development and regulatory milestone payments of up to an additional $345 million and commercial milestone payments upon successful commercialization of Hematide of up to $150 million.

About Hematide

Hematide is a synthetic peptide-based erythropoiesis stimulating agent (ESA) in clinical development for anemia due to chronic kidney disease (CKD) and cancer. A novel peptide-based drug designed to stimulate the production of red blood cells, Hematide is the company's first product candidate to enter the clinic. Currently, Hematide is being evaluated in Phase 2 clinical trials for the treatment of anemia associated with CKD and in anemic cancer patients undergoing chemotherapy.

About Affymax, Inc.

Affymax, Inc. is a biopharmaceutical company developing novel peptide-based drugs to improve the treatment of serious and often life-threatening conditions. Affymax's lead product candidate, Hematide(TM), is currently in Phase 2 clinical trials for the treatment of anemia associated with chronic kidney disease and cancer.

About Takeda

Takeda, headquartered in Osaka, Japan, is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products. Additional information about Takeda is available through its corporate website, http://www.takeda.com.

This release contains forward-looking statements, including statements regarding the Company's drug development program and goals. The Company's actual results may differ materially from those indicated in these forward-looking statements due to risks and uncertainties that are described in the Company's filings with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update any forward-looking statement to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events or a change in the Company's expectations.

Press Release: Affymax Receives $10 Million Milestone Payment

Maureen Martino — Thu, 01 Feb 2007 11:57:05 -0500

Affymax Receives $10 Million Milestone Payment From Takeda Pharmaceutical Based On Progress In Hematide Clinical Program

About Hematide

About Affymax, Inc.

About Takeda

ALSO NOTED: Quest Diagnostics buys HemoCue; Affymax pockets $10M milestone;Pozen to file response on Trexima; and much more...

Wed, 31 Jan 2007 19:01:30 -0500

> Quest Diagnostics has acquired Sweden's HemoCue, from the private equity firm EQT II for $420 million in cash. Release

> Affymax has nailed a $10 million milestone payment from Takeda. Release

> The FDA has called MGI Pharma's ad for a brain cancer drug "misleading." Report

> Pozen says it will file a response to the FDA on its Trexima migraine therapy in a few days. Report

> Aastrom has received an orphan drug designation for its Tissue Repair Cells used in chronic heart disease. Release

> Targacept is expanding its lab and office space in the Piedmont Triad Research Park. Release

> Generex is launching a Phase II trial for a breast cancer therapy. Release

> Heart muscle created from embryonic stem cells. Report

> New allergy vaccine works in a matter of weeks. Report

And Finally… A major new study concludes that fine grit in the air is a serious health threat to women, raising the risk of cardiovascular disease. Article

ALSO NOTED: Elan, Biogen submit Tysabri for Crohn's; Affymax prices IPO;and much more...

Thu, 14 Dec 2006 19:01:30 -0500

> Shares of Elan and Biogen Idec were on the rise this morning after the two developers announced that they had submitted Tysabri as a therapy for Crohn's disease. Report

> Affymax priced its IPO of 3.7 million shares at $25 a share. Release

> Advancis Pharmaceutical has filed for FDA approval of its antibiotic, Amoxicillin Pulsys, 18 months after it was pummeled by investors following the drug's failure in clinical trials. The company's Pulsys technology provides patients with doses of therapy throughout the day. Advancis--which mounted a new trial for the therapy--wants the FDA to approve the antibiotic as a once daily therapy for strep throat, compared to the standard treatment of amoxicillin three times a day. An approval could come in October. Report

> Chutes & Ladders: Sanofi-Aventis has named research director Gerard Le Fur as its new CEO. Report

> The Committee for Medicinal Products for Human Use has reversed its stand on Tarceva and recommended Roche's therapy for metastatic pancreatic cancer in combination with gemcitabine chemotherapy. Report

> Lipoxen has agreed to license its PolyXen technology to Baxter International to boost the effectiveness of its hemophilia drug Factor 8. Lipoxen gains a million dollars up front and up to $75 million in milestones. The CEO of Lipoxen also said he expects to sign more of these drug pacts. Release | Report

> Merck has blueprinted a $100 million expansion of its North Carolina vaccine operation. Report

> Omrix has priced its offering of 2.25 million shares at $32 a share and expects to raise $44.4 million from the offering. Release

> Schering-Plough has reformed its corporate governance rules, ending the board's right to launch a poison pill defense against a hostile takeover and changing the way directors are elected. Report

> Canada's MethylGene announced that after reviewing its recent R&D successes in its small molecule oncology programs, it will not pursue additional clinical trials for MG98, its second generation antisense compound targeting DNA methyltransferase. Release

> Antisoma has raised £26.3 million in an offering. Report

> A University of Minnesota Cancer Center study has found that children who beat leukemia are living longer lives. Report

> Does the FDA do enough to regulate drug ads? The GAO doesn't think so. Report

And Finally… U.S. breast cancer rates plunged 15 percent from mid-2002 to the end of 2003, and experts believe that the sudden reversal in cancer rates could be attributed to the sudden drop in the use of hormone therapy for menopause. Article

Press Release: Affymax Announces IPO

Maureen Martino — Thu, 14 Dec 2006 10:23:07 -0500

PALO ALTO, Calif., Dec. 14 -- Affymax, Inc. (Nasdaq: AFFY - News), a clinical-stage pharmaceutical company, today announced the pricing of its initial public offering of 3.7 million shares of common stock at $25.00 per share. All shares are being offered by Affymax. Affymax's common stock will trade on the Nasdaq Global Market under the trading symbol "AFFY."

Morgan Stanley & Co. Incorporated is acting as the sole book-running manager for this offering. Cowen and Company, LLC, Thomas Weisel Partners LLC and RBC Capital Markets are acting as co-managers for the offering. Affymax has granted the underwriters a 30-day option to purchase up to an additional 555,000 shares to cover over-allotments, if any.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.

A copy of the prospectus relating to this offering may be obtained by contacting Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, NY, 10014, Attention: Prospectus Department, by calling (866) 718-1649 or by emailing prospectus@morganstanley.com.

About Affymax, Inc.

Affymax, Inc. is a clinical-stage biopharmaceutical company developing novel peptide-based drugs to improve the treatment of serious and often life-threatening conditions. Affymax's lead product candidate, Hematide(TM), is currently in Phase 2 clinical trials for the treatment of anemia associated with chronic kidney disease and cancer.

ALSO NOTED: Glaxo wins approval for Hycamtin; Affymax forecasts share price;The best (and worst) biotech stocks of 2006; and mu

Thu, 30 Nov 2006 19:01:30 -0500

> President Bush has signed a new law that expands the powers of federal authorities targeting the activities of animal rights groups. Report

> GlaxoSmithKline has won EMEA approval to market Hycamtin, a combinatorial therapy for cervical cancer. Report

> Affymax has forecast a share price of $22 to $24 a share on the 3.5 million shares it plans to sell in its IPO. Report

> Analysts say that Allos Therapeutics is likely to release positive data for two major cancer trials in December. Report

> Eli Lilly will close its Mont St. Guibert operation and take a charge of $100 million to $110 million. Report

> Talecris Biotherapeutics has set up its European headquarters in Frankfurt, Germany. Release

> Researchers have used RU-486 to ward off tumors in mice bred with a gene that promotes breast cancer. Release

> Chutes & Ladders: Amgen has appointed Yuji Orihara president and representative director of Amgen in Japan. Release

> Dutch biotech Crucell has won contracts worth a collective $230 million for two of its vaccine. Report

> New research appearing in the Journal of Biology shows that even low doses of chemotherapy are killing brain cells and cancer drugs are more malignant to healthy cells than diseased cells. Report

> According to a newly-issued report from PriceWaterhouseCoopers predicts the top 7 trends for the healthcare history in 2007. Report

> The best (and worst) biotech stocks of 2006. Report

And Finally…The Clinton Foundation has announced a new deal that will significantly cut the cost of AIDS drugs for children. Article

DEALS: AstraZeneca, Pozen in $375M licensing deal

Wed, 02 Aug 2006 20:01:32 -0400

DEALS
WHO	WITH	WHAT	SCOOP
AstraZeneca	Pozen	$375M licensing deal	The companies will co-develop remedies for chronic pain utilizing Pozen's technology. Pozen gets $40 million up front and up to $335 million in additional milestone payments.
Amgen	Predix	$307M licensing deal	Amgen will pay an initial $20 million for Predix's autoimmune disease treatment and up to an additional $287.5 million in milestone payments.
Nextar	Affymax	$17.6M licensing agreement	Nektar is providing Affymax with technology to develop Hematide. The deal was previously undisclosed.
YM BioSciences	Daiichi Pharmaceutical	$14.5M licensing deal	YM BioSciences has licensed developing and marketing rights for nimotuzumab for an up-front payment of $14.5 million plus additional milestone payments.
Archemix	Nuvelo	collaboration	Archemix and Nuvelo have expanded their collaboration. Archemix will be responsible for research and Nuvelo will be responsible for development and commercialization.
Enzon	Santaris	collaboration	Enzon will develop and commercialize a series of RNA antagonists based on Santaris technology.
Avalon	ChemDiv	collaboration	The companies are collaborating for the discovery and development of small molecule oncology therapeutics.
Eli Lilly	Alcon	collaboration	The companies signed a long-term agreement to co-promote ruboxistaurin mesylat.
Biovail	Athpharma	partnership	The companies are ending their development partnership for four cardiovascular drugs.
Dainippon Sumitomo	Bristol-Myers K.K.	partnership	Bristol-Myers will license to Dainippon the development rights of irbesartan. Dainippon will grant Bristol-Myers with co-marketing rights of miriplatin hydrate.
Receptor BioLogix	Aphton	acquisition	Receptor BioLogix has acquired the cancer vaccine Insegia and related assets from Aphton in a Chapter 11 sale.
Cambridge Antibody Technology	Enzon	acquisition	Cambridge acquired the license to CAT-5001 from Enzon.
Iconix	Merck KGaA	services agreement	Iconix will compare several of Merck's compounds to similar products to gain insight into the safety of new drug candidates in the early stages of pre-clinical development.

SPOTLIGHT: Affymax files IPO

Sun, 30 Jul 2006 20:01:33 -0400

Affymax, which has an anemia drug in Phase II, has filed for an IPO designed to raise $115 million. Report

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Sun, 23 Jul 2006 20:00:50 -0400

> TransPharma Medical, which is developing a new drug delivery technology, has raised $18 million in financing. Report

> Biogen Idec and Elan have re-released Tysabri for MS in the United States. Report

> Researchers are exploring the effectiveness of a combination of cancer-drug mitoxantrone and copaxone to treat aggressive MS. Release

> Biovail and Athpharma have terminated a development pact for four cardiovascular drugs. Report

> Barr Pharmaceuticals says it is confident that it can meet any requirements the FTC may have as a condition for buying Pliva. Report

> Nektar Therapeutics announced that it received $17.6 million from Affymax for a previously undisclosed licensing deal. Report

And Finally… Scientists at the Max Planck Institute for Evolutionary Anthropology plan to crack the genetic code of Neanderthals in order to better understand why they became extinct while modern man thrived. Article (WSJ sub. req.)

DEALS: J&J buys Pfizer's OTC division for $16.6B

Wed, 05 Jul 2006 20:01:32 -0400

J&J buys Pfizer's OTC division for $16.6B

DEALS
WHO	WITH	WHAT	SCOOP
Pfizer	Johnson & Johnson	$16.6B sale	Pfizer has sold its OTC division to J&J for $16.6 billion in cash.
Siemens	Bayer Healthcare	$5.3B buyout	Siemens has purchased the diagnostics division of Bayer Healthcare. The move is expected to help Bayer complete the acquisition of Schering.
Barr Pharmaceuticals	Pliva	$2.2B buyout	Barr Pharmaceuticals beat out Actavis Group when generic drug maker Pliva announced that it accepted Barr's $2.2 billion buyout offer.
Johnson & Johnson	Vertex	Collaboration deal	The companies will collaborate to develop VX-950 for hepatitis C. Vertex gains $165 million and up to $380 million in milestone payments.
Takeda	Affymax	$535M deal	Takeda will pay Affymax up to $535 million for the worldwide rights--excluding Japan--to Hematide, a therapy for anemia in cancer and kidney disease patients.
Sanofi-Aventis	Taiho	$360M deal	The deal is for most of the global rights to Taiho's S-1 cancer therapy for colorectal, head and neck cancer
Johnson & Johnson	Metabolex	Licensing deal	Johnson & Johnson is buying into Metabolex's program for diabetes and other metabolic conditions with a new collaboration pact that provides a $40 million equity stake and up to $508 million in milestones.
Mayne Pharma	SuperGen	Licensing deal	Mayne has bought North American rights to the leukemia drug Nipent and a medical surface cleaner from SuperGen for $15 million up front and up to $19 million in milestone payments.
Skyepharma	Mundipharma International Holdings	$5M licensing deal	Skyepharma bought back European rights to DepoBupivacaine for its experimental pain drug DepoBupivacaine.
Eli Lilly	Inpharmatica	Licensing deal	Eli Lilly has licensed Admensa Interactive, Inpharmatica's suite of predictive drug absorption, distribution, metabolism and excretion (ADME) models and compound prioritization tools.

Takeda licenses Hematide in $535M deal

Mon, 26 Jun 2006 20:01:39 -0400

Japan's Takeda has agreed to pay Palo Alto, CA-based Affymax up to $535 million for the worldwide rights--excluding Japan--to Hematide. The therapy is used to treat anemia in cancer and kidney disease patients, a booming field in biologics. Affymax will net $105 million of that up front with commercial and regulatory milestones to run up to $430 million. Takeda had already licensed Hematide for Japan back in February. Affymax has co-development rights for the U.S. market and Takeda--which has inked a string of bullish licensing deals--will cover most of the costs. And Affymax will manufacture the drug.

"Takeda is an ideal global partner because they have the development experience, global commercial capabilities, and financial resources to assist us in our efforts to bring Hematide to market worldwide. Moreover, they have significantly grown their business in the U.S.," said Arlene M. Morris, Affymax's president and CEO.

- here's the release on Hematide

C&L: Phase III Medical taps Robin Smith as CEO

Tue, 06 Jun 2006 20:01:32 -0400

Phase III Medical has named Robin L. Smith, MD, MBA as chairman of the board and CEO.

Alpharma has named Dean J. Mitchell president and CEO, effective July 1. Mitchell will succeed Ingrid Wiik, who previously announced she planned to retire as CEO once a successor was named.

Affibody AB has appointed Dr. Ulf Boberg CEO.

Quantum Genomics has appointed Lionel Ségard as CEO.

Isolagen has appointed Nicholas L. Teti, Jr. chairman and CEO.

David A. Evans Ph.D., CEO of WellGen, died on June 1 following a brief illness.

ACADIA Pharmaceuticals has named Roger G. Mills, M.D., as executive vice president, development.

Cardium Therapeutics has named Gabor M. Rubanyi, M.D., Ph.D. chief scientific officer.

Gloucester Pharmaceuticals has named Jean C. Nichols, Ph.D., as executive vice president and chief scientific officer.

Ablynx has appointed Eva-Lotta Allan as chief business officer.

Enzo Biochem has named Andrew R. Crescenzo senior vice president of finance.

Affymax has named Kay Slocum as senior vice president of human resources.

Rigel Pharmaceuticals has appointed Ryan D. Maynard vice president of finance and acting chief financial officer.

Cerimon Pharmaceuticals has appointed James H. Welch CFO.

Allos Therapeutics has named James V. Caruso as executive vice president, chief commercial officer.

EntreMed has appointed Cynthia Wong, Esq. as vice president, general counsel and secretary.

Corgentech has named K. Peony Yu, M.D., vice president of clinical research and Michael Leong, M.D., director of clinical research.

ZIOPHARM Oncology has appointed Brian Schwartz, M.D., as senior vice president for medical and regulatory affairs and chief medical officer.

AAIPharma has appointed Victoria Winters to the position of vice president of European business development.

NPS Pharmaceuticals has named Francois Nader, MD, as chief medical and commercial officer.

Human Genome Sciences has hired Margery B. Fischbein as vice president, business development and strategic planning.

Vical Incorporated has appointed Ronald B. Moss, M.D., vice president, clinical development.

AnorMED announced that Elisabeth Whiting, vice president of communications, had stepped down from her post.

Theresa Kennedy has joined ResVerlogix as vice president corporate communications.

Xceleron has elected Philip Morgan as non-executive chairman of the board.

Crucell Chairman Pieter Strijkert will step down and be succeeded by fellow Supervisory Board member Jan Oosterveld.

Altair Nanotechnologies has elected Pierre Lortie to its board of directors.

Phytopharm has named A. D. Morrison, former CEO of Lipton Ltd, a non-executive board director.

Stem Cell Innovations has elected Lucio A. Noto to its board of directors.

iCo Therapeutics announced the appointment of Dr. Richard W. Barker and William Jarosz to its board of directors.

Biomira announced that Dr. Alex McPherson has stepped down from the company's board.

ALSO NOTED: Takeda licenses Hematide; Lectus garners £8.2M; YM shares gain on fast-track announcement;and much more...

Sun, 12 Feb 2006 19:00:50 -0500

> Takeda Pharmaceuticals has agreed to pay $27 million in an upfront payment and direct investment and up to $75 million in milestone payments in exchange for the commercial rights to Affymax's anemia therapy Hematide in Japan. Report

> The UK's Lectus Therapeutics has rounded up £8.2 million in its first round of venture capital. Report

> Shares of YM Biosciences rose on the news that the FDA had put its lead breast cancer therapy on its regulatory fast track review program. Report

> A leading dermatology group says the FDA program to steer pregnant women from the acne drug Accutane is a "disaster." Article

> Chugai Pharmaceuticals, a subsidiary of Roche, is preparing to ramp up production of Tamiflu for the Japanese market. Report

> American Pharmaceutical Partners has received FDA approval for a generic version of Novartis' Sandostatin. Report

> BioXell and Lay Line Genomics have inked a licensing deal for the development of MNAC13, a humanized monoclonal antibody that binds to TrkA receptors, blocking the action of Nerve Growth Factor, a key mediator of pain. Release

> Myogen announced positive top line results of the AMB-222 study, an open-label study of ambrisentan in patients with pulmonary arterial hypertension. Release

> Biovitrum and Amgen have expanded their licensing deal to develop Biovitrum's small molecule 11beta-HSD1 enzyme inhibitors for the treatment of metabolic diseases. Release

And Finally… A host of Canadian pharmacies report a sharp spike in the number of seizures of drug shipments to patients south of the border. Article

ALSO NOTED: Albany Molecular buys ComGenex; Iomai cuts IPO price; and much more...

Sun, 29 Jan 2006 19:00:50 -0500

> Albany Molecular Research has signed a deal for the stock purchase of Budapest-based ComGenex. Report

> Iomai has cut its IPO to 5 million shares at a price of $7 to $9 each. Release

> Rebel investors in SkyePharma are calling for a special general meeting to force Ian Gowrie-Smith's departure from the board. Gowrie-Smith resigned as chairman a week ago. Report

> The FDA has approved a new indication for Ista's Xibrom eye treatment. Release

> Rigel has received a milestone payment from Merck for their work on ubiquitine ligases. Release

> San Diego-based Stressgen has reorganized with more than $9 million in new funding. Release

> Affymax of Palo Alto, CA, has initiated a Phase II trial of Hematide to treat anemia in cancer patients. Release

> Bayer is licensing two tests from Abbott. Release

> IDM Pharma has released results for its Phase I trial of Collidem Dendritic Cell Vaccine. Release

And Finally... Bill Gates is adding $600 million to his war chest for eradicating TB by 2015. Article

VC: Affymax leads venture rounds with $60M

Wed, 27 Jul 2005 20:01:32 -0400

Affymax pockets $60M in fourth round

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
Affymax Palo Alto, CA	$60 million fourth round	JAFCO, Bear Stearns Health Innoventures	Much of the money will go to a Phase II clinical program for Hematide in patients with chronic kidney disease and cancer.
Ilypsa Santa Clara, CA	$36 million round two	US Venture Partners, Johnson & Johnson Development Corporation, and Delphi Ventures	Ilypsa will use the funds to complete preclinical and initiate clinical development of their two lead compounds ILY-101, a metal-free, polymeric phosphate binder, and ILY-105, a novel potassium-binding polymer.
Labcyte Sunnyvale, CA	$21 million third round	Cross Atlantic Partners	Labcyte is developing its low-volume liquid handling business, which is based on a proprietary technology for using focused acoustics to precisely transfer nanoliters of liquid.
Peptimmune Cambridge, MA	$20.4 million third round	New Enterprise Associates	Peptimmune's lead product GT 389-255, is a novel lipase inhibitor and fat binding hydrogel polymer conjugate for the treatment of obesity.
BrainCells San Diego	$17.7 million round one	Technology Partners, Oxford Bioscience Partners, and Bay City Capital	The money will go to identify one or more late-stage clinical compounds currently under development for a CNS indication.
APT Pharmaceuticals Tucson, AZ	$6 million round one	Charter Life Sciences	The funds go to support a Phase II trial of an inhaled version of hydroxychloroquine for asthma.

Affymax pockets $60M in fourth VC round

Sun, 17 Jul 2005 20:01:37 -0400

Palo Alto, California-based Affymax has garnered $60 million its fourth round of venture capital. JAFCO and existing investor Bear Stearns Health Innoventures co-led the round. "As one of the largest venture financings in biotechnology this year, this investment represents an acknowledgment of our progress and underscores the potential of our lead product candidate, Hematide, which is currently being evaluated in Phase II clinical trials in Europe and the US," said Arlene M. Morris, Affymax's president and CEO. "The proceeds will give us the ability to aggressively move forward with our Phase II clinical program for Hematide in patients with chronic kidney disease and cancer, as well as develop our pipeline of promising peptide product candidates."

- read this press release for more