Australia

SPOTLIGHT: Talecris may be sold

Mon, 02 Jun 2008 06:59:53 -0400

Almost a year after filing plans for a $1 billion IPO for Talecris Biotherapeutics, Cerberus and partner Ampersand Ventures may instead pursue a sale of the blood plasma product business. And Australia's CSL may be in the running. The blood plasma product business has been rapidly consolidating. Talecris said last year that three companies controlled 82 percent of the U.S. market. Report

Arana gains development partner for cancer program

Thu, 24 Apr 2008 06:59:54 -0400

Australia's Arana Therapeutics has struck a deal to co-develop an experimental colorectal cancer therapy with Japan's Kyowa Hakko Kogyo. Arana will receive up to $8 million in the joint venture and the two companies will split ownership of ART104. The developers will split the development costs, with the Japanese company contributing technology to the program. Kyowa has rights to commercialize the therapy in some Asian markets.

- see the release
- check out the report from AFX

Pfizer focuses on expanding inhaled meds R&D

Wed, 13 Feb 2008 06:59:57 -0500

Pfizer is budgeting €130 million for the construction of a new facility in France to specialize in the development of inhaled meds. Plans for the facility in Amboise include a staff of 440, more than making up for the loss of 110 jobs in the town when Pfizer closes a separate R&D operation. Work on the new facility begins this year and should take about five years.

As In-Pharma reports, the move by Pfizer shows that it still believes in the future of inhaled medications, even after the troubles it had with the Exubera fiasco, for which it incurred a charge of $2.8 billion.

- read the AFX report
- and here's the article from in-Pharma

ALSO: Nektar, meanwhile, is cutting more than 100 staffers and eliminating 40 open positions as it restructures in the wake of Pfizer's withdrawal as a partner on Exubera. COO Dr. Hoyoung Huh is leaving Nektar to become CEO of BiPay Sciences in Australia. Report

Related Articles:
Pfizer pays $135M to ease Exubera pain. Report
Pfizer kills off Exubera, hunts for deals. Report
Exubera becoming a big disappointment for Pfizer. Report
UK: Exubera not worth the price. Report
FDA approves Pfizer's inhaled insulin. Report

Australian biotech spinoff to develop drugs

Wed, 17 Oct 2007 06:59:57 -0400

The Australian diagnostics company HealthLinx is spinning off two therapies in clinical development into a new company--Proaegis Biosciences--which will hit the road in search of $4 million in fresh funding. HealthLinx will spin off CR014 for Acute Respiratory Distress Syndrome and Follistatin for ulcerative colitis.

"Expressions of interest for the remaining $4 million have already been received, and it is anticipated that the balance of the funds will be secured from sophisticated investors by early 2008," says HealthLinx managing director Nick Gatsios.

- see this release for more
- here's the report from The Age

SPOTLIGHT: Flu pandemic "inevitable"

Wed, 15 Aug 2007 06:59:53 -0400

Australia's health minister says that it's only a matter of time before a flu pandemic hits the country. But he's not releasing the country's antiviral stockpile in the face of a deadly outbreak of influenza A. Report

ALSO NOTED: Schering-Plough licenses acadesine; Alchemia raises $15M; DOR action date extended; andmuch more...

Thu, 19 Jul 2007 06:59:50 -0400

> Schering-Plough has licensed acadesine, an adenosine regulating agent, from PeriCor Therapeutics. No terms were released. Release

> Australia's Alchemia announced a $15.2 million placement. Release

> DOR BioPharma announced that the action date for the FDA's review of its NDA for orBec for the treatment of gastrointestinal graft-versus-host disease has been extended to October 21, 2007. Release

> Par Pharmaceutical has settled a patent despite with Ortho-McNeil Pharmaceutical. Release

And Finally... A collaboration between the Scripps Research Institute and IBM to find new antidotes to flu before new mutations surface is making some initial progress. Report

Encysive CEO departs as pink slips fly

Tue, 26 Jun 2007 00:01:37 -0400

Just days after the FDA turned thumb's down on its experimental therapy for pulmonary arterial hypertension, Encysive announced that its CEO has departed and the company plans to axe 150 jobs--70 percent of its work force. Those jobs are all in marketing and research in the U.S., but the company is leaving staff in place that is commercializing the drug in Europe, Canada and Australia. CEO Bruce Given has been replaced by George Cole, the former COO. No new COO will be hired. The FDA announced on June 15 that Thelin didn't meet the agency's standards for approval. To make matters worse, Gilead received FDA approval for another lung disease therapy on the same day Encysive was rejected.

- see the release
- here's the AP report on Encysive's restructuring

Related Articles:
Encysive shares sink on third approvable letter. Report
Encysive shares dive after second approvable letter. Report
Encysive takes beating on Thelin delay. Report

Holaday makes a biotech comeback at QRxPharma

Tue, 26 Jun 2007 00:01:36 -0400

Several years after walking away from EntreMed, John Holaday is back setting up the U.S. operations of Australia's QRxPharma. Holaday is operating out of an incubator in Rockville, MD, preparing for a late-stage trial for an experimental pain drug. Holaday helped develop the program for the pain therapy, which combined two existing opioids. That kind of combinational approach using existing therapies has proven to be popular and effective. Holaday has established more than half a dozen companies, including a few that went public.

- read the The Washington Post article

SPOTLIGHT: Avexa gains rights to HIV drug

Mon, 22 Jan 2007 19:01:33 -0500

Shire has licensed the North American rights to the HIV compound SPD754 to Australia's Avexa in exchange for an up front payment of $10 million and sales and development milestones. Shire gets eight million shares of Avexa in the deal, boosting its stake in the company to eight percent. Release | Report

SPOTLIGHT: Investors cheer Progen data

Tue, 12 Dec 2006 19:01:33 -0500

Australia's Progen Industries saw its share surge after researchers announced that its experimental liver cancer drug demonstrated statistically significant results. Patients taking PI-88 following the removal of a cancerous tumor went an average of 30 weeks before it grew back, compared to 17 weeks for patients who weren't taking the drug. Release | Report

Biota inks $102M collaboration for Hep C program

Sun, 26 Nov 2006 19:01:34 -0500

Australia's Biota has signed a $102 million pact to collaborate with Germany's Boehringer Ingelheim on a new therapy for Hepatitis C. The agreement covers Biota's nucleoside analogues product for hep C and other diseases. Biota gains immediate research support in the deal along with milestones and future royalties. Exact terms were not disclosed.

- here's the report on the pact from The Age

SPOTLIGHT: Mining companies fund trial

Sun, 26 Nov 2006 19:01:33 -0500

A group of mining companies has agreed to provide $6 million to Australia's Virax to funds tests of its HIV therapy, VIR201. The innovative funding program was inspired by the companies' problems wrestling with the AIDS epidemic that afflicts miners in South Africa. Report

Hospira to buy Mayne Pharma in $2.6B deal

Wed, 20 Sep 2006 20:01:37 -0400

Yesterday's hot rumors about Australia's Mayne Pharma have been replaced by the news that Hospira is buying the generic drug company for $2.63 billion. The Lake Forest, IL-based Hospira said it expects to benefit from about $50 million in "synergies" between the two companies. Mayne shares soared on the news, which includes a 34 percent premium on yesterday's stock price. Hospira sees the move as a big boost to its international efforts in marketing generic injectables. The takeover, though, is conditional that no one else will offer a higher price.

- here's a report from TheStreet.com on the deal
- and a report from The Australian with more detail

Rumor Mill: Mayne Pharma may be takeover target

Tue, 19 Sep 2006 20:01:37 -0400

Shares of Australia's Mayne Pharma are on the rise following hot rumors that it's about to become the subject of a takeover bid. Two generic drug outfits, Hospira and Teva, have been suggested as possible bidders. But other analysts are speculating that the rumors are being triggered by a possible bid by Mayne for another company. Spun out last year from the Mayne Group, Mayne Pharma has been posting losses while boasting of its new drug candidates.

- here's the report on Mayne from The Australian

PLUS: One report suggests that $1.5 billion is being offered for Mayne. Report

ALSO: Mayne Pharma CEO Thierry Soursac has earned $3.8 million since the spin-off. Report

Rumor Mill: Cytyc to bid $360M for Vision Systems

Mon, 11 Sep 2006 20:01:37 -0400

Cytyc of Marlborough, MA is close to bidding $360 million to buy Australia's Vision Systems, according to a report in The Wall Street Journal. The offer would top a bid of $346 million offered by Ventana Medical Systems of Tucson. Vision Systems makes instruments and reagents used for cancer detection. The company sells its products primarily to clinical labs.

- here's the report from The Wall Street Journal on the bid (sub. req.)

Cytopia inks major licensing deal with Novartis

Sun, 04 Jun 2006 20:01:35 -0400

Australia's Cytopia has signed one of the richest licensing deals recorded for that country. Novartis will pay Cytopia $13 million in up front fees and research funds over three years as part of a $274 million package that includes major milestones in the co-development of new therapies to prevent transplant rejection and to treat auto-immune diseases. Cytopia has been developing therapies that target the JAK3 enzyme. No new drugs are expected to see approval before eight to 10 years.

- read the report on Cytopia from Nine MSN

ALSO NOTED: Synovics raises cash, buys Kirk; Angiotech buys Quill Medical; and much more...

Wed, 24 May 2006 20:00:50 -0400

> Phoenix-based Synovics Pharmaceutical has raised $21.2 million in new financing and purchased the generic drug maker Kirk Pharmaceuticals for $12 million. Report

> Angiotech Pharmaceuticals has agreed to buy Quill Medical--which makes the Contour Threads surgical suture product--for $40 million. Report

> Australia's Phosphagenics has released positive preclinical data from a study of its transdermal insulin delivery technology. Release

> Genentech has filed its application to use Avastin for breast cancer victims as a front-line treatment. Report

> SciClone Pharmaceuticals' final results for its second Phase III trial of Zadaxin for hep C did not demonstrate a statistically significant improvement over pegylated interferon alpha alone. Report

> Northwest Biotherapeutics has issued positive, updated Phase I data for its experimental cancer vaccine. Report

> Australia's Peplin plans to raise $40 million to fund a clinical trial of its experimental therapy for skin cancer. Release

> Allergan has obtained a European license to market Ganfort for glaucoma. Report

> Israel's BioLineRx has inked a licensing deal with Gevys Pharmaceuticals for the worldwide rights to the experimental pain drug BL-3010. Report

> Elite Pharmaceuticals has initiated a Phase I trial of a once-daily oxycodone therapy. Release

> Altea Therapeutics has begun a Phase I trial of its pain patch, AT3022. Release

And Finally… Wisconsin Governor Jim Doyle has told two Catholic bishops that he has no plans to rethink his $5 million program to support embryonic stem cell research. Article

Australian regulators OK new asthma test

Wed, 22 Mar 2006 19:01:35 -0500

Australia's Therapeutic Goods Administration has approved Sydney-based Pharmaxis' Aridol, which is designed to identify asthma sufferers and evaluate the severity of the disease. This is Pharmaxis' first approval. The biotech says Aridol offers a simple, quick way to test for asthma. The test requires the patient to inhale increasing doses of Aridol, which causes the airways to narrow and contract. The changes in the airways are detected by measuring the amount of air a person can exhale. The smaller the dose required to cause contraction, the more severe the patient's asthma. People without airway inflammation do not respond to an Aridol challenge test.

- read the release for more information

Alchemia, Meditech to merge

Wed, 08 Mar 2006 19:01:38 -0500

Australia-based Alchemia has offered $16.9 million for Meditech Research. The companies will merge by way of an off-market takeover bid by Alchemia for Meditech. Meditech currently has a compound targeting metastatic colorectal cancer in Phase II trials in Australia and two other anti-cancer drugs that have completed Phase I trials, but the company doesn't have the funds to make it through the remainder of the clinical process. Alchemia will benefit from these early-stage drugs. "It really gives us a very balanced pipeline and reduces the risk for investors," noted CEO Alchemia Tracie Ramsdale.

- see this press release
- read this article from The Age

Biota begins trial on human cold remedy

Wed, 15 Feb 2006 19:01:38 -0500

Australia's Biota has begun its first human trial of a therapy that it believes could provide a cure for the common cold. BTA798 has demonstrated efficacy in animal and lab studies as a therapy for human rhinovirus, researchers say. HRV is responsible for about 75 percent of all colds. But due to its cost, any eventual marketing of the drug is likely to be limited to people with compromised immune systems who could be seriously threatened by a cold. In most cases, people can overcome a cold in a few days. "If you are going to spend $25 or $30 medicating yourself, that's justifiable if it is going to save you $500 a day for a bed in hospital," said Biota CEO Peter Cook.

- read this report from The Age for more information