preclinical

Bayer strikes deal for Nycomed cancer therapies

John Carroll — Fri, 08 Aug 2008 10:20:58 -0400

A Swiss company's decision to drop its cancer programs will help Bayer beef up its oncology pipeline. Bayer has agreed to buy Nycomed's preclinical cancer therapies in a deal worth up to €52 million. The deal covers two preclinical drug candidates and back-up therapeutics that target a kinase involved in the growth of cancer cells. Bayer Schering Pharma assumes full development and marketing rights.

Bayer discovery chief Andreas Busch says that the acquisition is complementary to the pharma company's oncology work. Bayer's Nexavar is a kinase inhibitor that helps prevent the growth of new blood vessels that feed tumors. Nycomed announced earlier this year that it was getting out of the cancer arena to focus on other programs. 4SC bought eight of its oncology programs in June.

- read the AFX report
- read the report from PharmaTimes

Spectrum sells off generic drugs

Fri, 09 May 2008 06:59:55 -0400

Specturm Pharmaceuticals has sold its abbreviated NDAs for its injectable generic drugs, ondansetron, carboplatin, fludarabine, and mitoxantrone, to Sagent Pharmaceuticals. Sagent, which made our list of the top 20 VC deals of 2007, brings finished pharmaceutical therapies onto the U.S. market and is focused on injectable products. "The sale of these non-core assets provides additional non-dilutive funding which will be used to further fund the advancement of our late stage clinical programs," said Rajesh C. Shrotriya, Spectrum's CEO. Spectrum has 12 drug candidates in the clinic and three more in preclinical development.

- check out Spectrum's release

ALSO NOTED: Meda buys late-stage drugs;Debiopharm licenses peptide;and much more...

Mon, 14 Apr 2008 06:59:50 -0400

> How might drugmakers navigate the rocky waters of generic competition, cautious regulators, safety scandals, globalization, and so on? Seek help with the itinerary from an expert, perhaps. At least six top U.S. drugmakers have done this, putting strategy gurus in top offices. Report

> Meda has paid $20 million for the exclusive world-wide commercialization rights from Orexo of two patented drugs in late development phase; Sublinox and OX-NLA. Release

> Analytical NanoTechnologies has inked an agreement to acquire the entire issued share capital of Microarray for £1 million. Report

> Debiopharm Group has inked an option and license agreement with Airmid to develop an ShK peptide called Debio 0824, a potassium channel blocker currently in early preclinical development for autoimmune diseases. Release

> Introgen Therapeutics says that ADVEXIN Phase III clinical trial data in patients with recurrent head and neck cancer confirm earlier Phase II results of ADVEXIN efficacy. Release

> Alfacell announced that Dr. Intae Lee with the University of Pennsylvania has reported that Alfacell's Onconase (ranpirnase) could be a promising radiation sensitizer for lung cancer treatment. Release

> Nuvelo announced preclinical data demonstrating the mechanism of action and the potent therapeutic activity of NU206 (R-spondin1) in chemotherapy or radiation-induced oral mucositis models. Release

> Misleading minutes, swearing execs--just another day at the office for Vytorin's critics. Report

> If you had any doubt why Pfizer, GlaxoSmithKline, and other Big Pharma companies are drooling over business in the developing world, take a look at a new Deutsche Bank report on the Indian drug market. Report

And Finally… Co-pays on some expensive biotech drugs can now climb as high as 33 percent. Article

Inotek closes facilities, shakes up executive staff

Tue, 08 Apr 2008 06:59:55 -0400

There's a shakeup under way at Inotek. The Beverly, MA-based developer says it is closing several international sites and a pilot manufacturing facility in Israel as it focuses all of its efforts on its two main programs and two preclinical programs. Inotek's collaboration with Genentech regarding the discovery and development of PARP inhibitors will end in April. Inotek will obtain rights to all assets and information related to the PARP inhibitor program from Genentech, including all compounds and intellectual property that were discovered or developed by either Inotek or Genentech within the collaboration. And the shakeup is also causing changes in its executive group that includes the appointment of Dr. Michael Loberg, an Inotek board member since 2004, as acting president and CEO.

Inotek has entered Phase I with INO-4885 for various acute, peroxynitrite-mediated hospital conditions and has filed an IND for its selective Adenosine 1 agonist, INO-8875 that is being developed for Glaucoma. Inotek also has a monoclonal antibody program in preclinical development, targeting the flagellin/TLR5 pathway associated with inflammatory bowel disease and a series of preclinical PARP inhibitors with applications in cancer, ophthalmology and various diseases involving reperfusion injury.

- read the press release for more information

Related Articles:
Inotek raises $19.3M. Report
Inotek inks $625M licensing deal on PARP. Report
Inotek closes second round with additional $10M. Report

ALSO NOTED: Dendreon shares jump on investment deal; Iomai in pact with Merck; Foundation antes millions for MS leads; and much

Thu, 03 Apr 2008 07:59:50 -0400

> Schering-Plough has proven quick on the layoff trigger. The company announced a plan to cut costs by $1.5 billion by 2012 in the wake of the latest round of Vytorin controversy. Roughly 5,500 employees will lose their jobs, or about 10 percent of the company's workforce. Report

> Shares of Dendreon jumped seven percent on the news that an institutional investor will buy up 47 million in shares and warrants. That money is earmarked for Dendreon's prostate cancer drug Provenge and other drug candidates in its pipeline. Release

> Iomai has forged a deal with Merck to conduct proof-of-principle preclinical studies evaluating the use of the Iomai needle-free immunostimulant patch. Merck has first option to negotiate an exclusive license. These preclinical proof-of-principle studies will be conducted using an undisclosed Merck vaccine. Release

> The Myelin Repair Foundation has spent $10 million so far to identify 18 new drug leads for multiple sclerosis. Report

> Chutes & Ladders: Akers Biosciences has promoted Robert J. Paratore to chief financial officer. Report

> Two lawmakers asked the FDA yesterday to mandate that all TV ads for prescription drugs include contact info for patients to report serious side effects to the agency. The impetus? A Consumer Reports poll that showed 16 percent of respondents had a side effect serious enough to send them to the doctor or hospital--but 35 percent of respondents didn't know they could report side effects to the FDA. Report

> The U.K.'s National Health Service is spending around $3.9 billion annually to treat patients for adverse reactions to prescription drugs. Report

And Finally... A professor at the California Institute of Technology is walking away with the $1 million Gotham Prize for an original approach to killing cancer cells. Report

SGX shares slide on report of early-stage toxicity

Thu, 27 Mar 2008 07:59:58 -0400

Shares of SGX Pharmaceuticals were sliding this morning on the news that its lead cancer therapy produced unexpected dose-limiting levels of toxicity in early-stage trials. The company said that it was surprised by the toxicity in SGX523 after a careful evaluation of animal data revealed no such tendency. And company officials carefully noted that they're examining other dosing regimens while pursuing the development of additional cancer therapies in its pipeline.

Patients in a low-dose trial of SGX523 involving solid tumors continue to be treated while no further dosing is being provided in an interrupted dosing trial--a repeating 21 day cycle of 14 days on therapy followed by 7 days off.

"From the initial clinical data, the profile of SGX523 appears to be different than the preclinical data would suggest," said Mike Grey, president and chief executive officer of SGX Pharmaceuticals. "We may explore whether alternative doses and schedules are safe and efficacious. We continue the preclinical development of the BCR-ABL inhibitor SGX393 and the second MET inhibitor SGX126. In addition, we are targeting the identification of two development candidates this year from our drug discovery programs to further enhance our pipeline."

- check out the press release

Related Articles:
SGX Pharmaceuticals--Best Pharma Stocks of 2007. Report
SGX Initiates Phase I Trials for SGX523. Report
SGX shares tank on late-stage trial failure. Report

Dutch biotech gains $34M for clinical work

Wed, 05 Mar 2008 06:59:55 -0500

The Dutch biotech PanGenetics has rounded up $34 million in venture backing for the clinical development of two antibody programs. The round was led by Edmond de Rothschild Investment Partners with contributions from Biogen Idec New Ventures, Fortis Private Equity, Forbion Capital Partners and Credit Agricole Private Equity. A Phase I study of the company's CD40 antagonist PG102 in psoriatic arthritis patients is expected to start mid-year. PG110, a humanized antibody targeting nerve growth factor, is in preclinical development, slated for a study in patients suffering from chronic pain. Data is expected in late 2009.

Biogen Idec made it clear that the developer's work in the CD40 pathway--which is targeted by PG102--made this a logical investment. "Clearly Biogen Idec's investment in PanGenetics speaks to our continued belief in the importance of this pathway," says John Dunn, executive vice president of Biogen Idec New Ventures.

- check out the release

ALSO: Berwyn, PA-based Trevena--which is targeting G-protein coupled receptors--has closed on a $24 million Series A financing. Alta Partners and Healthcare Ventures led the round that included New Enterprise Associates and Polaris Venture Partners. Release

Related Article:
PanGenetics raises €13M in second round. Report

Q Therapeutics raises $15M

Fri, 15 Feb 2008 06:59:55 -0500

Salt Lake City-based Q Therapeutics has raised $15 million in a second round of financing. The company is developing cell-based therapies for the central nervous system. It is currently running preclinical studies and hopes to file an IND for a treatment for transverse myelitis, a rapidly paralyzing subset of multiple sclerosis. Q expects clinical trials to begin in 2009. VSpring Capital led the round, and Invitrogen was among a group of investors that also participated.

"This investment will help accelerate our efforts to bring important new treatments to the clinic for these extremely debilitating neurodegenerative diseases. As a leader in providing many of the necessary tools for stem cell research and production, Invitrogen's participation will further enhance our development going forward."

- see this release for more

Related Articles:
Invitrogen puts up $57M for CellzDirect buyout. Report

Speculation mounts over prospective CeNeS buyer

Wed, 06 Feb 2008 06:59:55 -0500

Speculation over the prospective acquisition of CeNeS continued to mount as the company's shares shot up 70 percent yesterday. CeNeS put out a terse statement acknowledging that it is in talks with a possible buyer. Of course, CeNeS stock had a long way to come back. One reason it became a takeover target is that its shares have slid 90 percent last year. The Financial Times taps Endo and Purdue, both big in pain remedies, as possible buyers. CeNeS has one therapy--M6G--nearing Phase III, with a cancer pain drug in mid-stage trials and a sedative in preclinical development. The UK biotech sector has been a major disappointment to investors recently. Last year the country's 457 biotech stocks underperformed the FTSE All-Share by 36.1 percent.

- read the report from the Financial Times

Related Articles:
Mystery suitor spurs spike in CeNeS stock. Report
CeNeS licenses promising sedative to Ono. Report
UK biotechs feeling the chill from investors. Report

Bridge Labs gain $18M in funds, expands in China

Tue, 15 Jan 2008 06:59:55 -0500

Gaithersburg, MD-based Bridge Laboratories is blueprinting an expansion of its Beijing lab space after winning $18 million in new venture backing. The company announced the funding along with its new name, which was changed from Bridge Global Pharmaceutical Services. Bridge got started after buying out Gene Logic's preclinical division late in 2006.

"The involvement of new investors in Bridge affirms the validity of our strategy to revolutionize preclinical development by delivering high-quality services in China at significant savings, while providing a US-based service for clients that prefer this option," said Tom Oakley, president and CEO of Bridge Laboratories.

- here's the release
- read the report from the Washington Business Journal

ALSO: Clarian Health Ventures is getting ready to pull the covers off its new life sciences venture fund. Report

Related Articles:
Bridge garners $35M to expand China operations. Report
Bridge Pharma sees growth in China drug studies. Report
The low cost of doing business in China. Report
China pushes drug development as R&D soars. Report