release formulation

ALSO NOTED: Ambrilia touts data; Amarin raises $60M; and much more...

Wed, 14 May 2008 06:59:50 -0400

> Ambrilia Biopharma reported positive 24-week Phase III top-line results for prolonged-release formulation of Octreotide. Release

> Amarin is raising $60 million through a stock placement. Release

> Acorda Therapeutics CEO Ron Cohen has exercised stock options for 31,432 shares. Report

> A federal proposal requiring drug and device makers to disclose payments to doctors got a boost yesterday when Eli Lilly became the first Big Pharma to back it. Lilly report

> In an interesting twist on the usual generics news, it's the copycat makers who are predicted to suffer as competitors undercut their products. The source of this competition? None other than China. Generics report

> The NIH's Avastin/Lucentis trial could fundamentally reshape relations between payers and pharma, according to IMS Health. Report

> After weeks of pressure from Congress to request more money for the agency--and weeks of refusals to specify a figure for beefing up FDA's safety operations-FDA commissioner Andrew von Eschenbach has asked lawmakers for $275 million. FDA report

And Finally... South Korean officials have wiped out the poultry population of Seoul in an effort to combat the spread of the avian flu virus. Report

Orexigen claims success in weight-loss trial

Tue, 24 Jul 2007 06:59:55 -0400

Orexigen Therapeutics says that a mid-stage trial of its weight-loss drug generated a statistically significant response compared to placebos. The study involving 620 patients concluded that the group taking its zonisamide-based formulation experienced an average 8.6 percent reduction in weight compared to a 1.1 percent drop in weight for the placebo group. Its shares were buoyed by the news.

"These trial results illustrate that we can delay the early weight loss plateau often seen with dieting and many existing pharmaceutical approaches and also improve tolerability with a sustained release formulation of zonisamide," said Orexigen CEO Gary Tollefson, M.D., Ph.D. "If the magnitude of weight loss evident in this trial continues to be seen, we believe that Empatic may be particularly useful in severely obese individuals."

- check out the release
- here's the AP report for more information

Related Articles:
Orexigen Therapeutics files $86 million IPO. Report
Orexigen garners $30M in financing. Report
Orexigen gets positive Phase II results. Report
New combos of old drugs may be boon to biotech. Report

Press Release: Depomed Reaquires Rights to ProQuin XR

Maureen Martino — Thu, 05 Jul 2007 10:49:57 -0400

Depomed Reaquires Rights to ProQuin XR

MENLO PARK, Calif. -- Depomed, Inc. announced today it has ended the license agreement and the related supply and co-promotion agreements with Esprit Pharma for ProQuin® XR, the extended release formulation of ciprofloxacin hydrochloride for the treatment of uncomplicated urinary tract infections.

Pursuant to the termination agreement, Esprit has paid Depomed $17,500,000. Esprit will also return the ownership of the Proquin NDA to Depomed along with all promotional materials. In addition, the parties have agreed to a detailed transition plan with specific activities and timelines related to the transition of the product from Esprit to Depomed. Depomed will leverage the commercial distribution network it has established for Glumetza to book sales and distribute Proquin in the US.

"We are happy to have ProQuin back," said John W. Fara, Ph.D., chairman, president and chief executive officer of Depomed. "We believe ProQuin will be a success, and we are continuing our discussions with potential new partners. We worked closely with Esprit to unwind the ProQuin agreements in a manner that assures our ability to continue commercializing ProQuin and appreciate their efforts in reaching this amicable agreement."

About ProQuin® XR

ProQuin XR is a once-daily extended-release formulation of ciprofloxacin hydrochloride and is indicated to treat uncomplicated urinary tract infections (UTIs). UTIs are bacterial infections frequently caused by E. coli and are typically treated with antibiotics. Patients should not take Proquin XR if they are allergic to, or have ever had a severe reaction to, ciprofloxacin or to any other "quinolone" antibiotics. ProQuin XR is generally well tolerated. The most common side effects with ProQuin XR include vaginal yeast infection and headache.

About Depomed

Depomed, Inc., is a specialty pharmaceutical company with two approved products on the market and multiple product candidates in its pipeline. The company utilizes its proven, proprietary AcuForm(TM) drug delivery technology to improve existing oral medications, allowing for extended, controlled release of medications to the upper gastrointestinal tract. Benefits of AcuForm-enhanced pharmaceuticals include the convenience of once-daily administration, improved treatment tolerability and enhanced compliance and efficacy. Glumetza(TM) (metformin hydrochloride extended release tablets) is approved for use in adults with type 2 diabetes and is being marketed in the United States by King Pharmaceuticals and in Canada by Biovail Corporation. ProQuin® XR (ciprofloxacin hydrochloride) extended release tablets are approved in the United States for the once-daily treatment of uncomplicated urinary tract infections. Product candidate Gabapentin GR(TM) is currently in Phase 3 and Phase 2 clinical development for the treatment of two pain indications, postherpetic neuralgia and diabetic peripheral neuropathy, respectively. A Phase 2 clinical trial of Gabapentin GR in menopausal hot flashes is also underway. Additional information about Depomed may be found on its web site, www.depomedinc.com.

"Safe Harbor" Statements in this press release that are not historical facts are forward-looking statements that involve risks and uncertainties. The inclusion of forward-looking statements, including those related to the transition of ProQuin XR to Depomed and the commercialization of ProQuin XR, should not be regarded as a representation that any of our plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in our business, including, without limitation, risks and uncertainties related to: our research and development efforts, including pre-clinical and clinical testing; regulation by the FDA and other government agencies; the timing of regulatory applications and product launches; our ability to successfully commercialize our products; the success of our collaborative arrangements with development and commercialization partners; and other risks detailed in our filings with the Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. We undertake no obligation to revise or update this release to reflect events or circumstances that occur after the date of this release.

Press Release: Astellas Receives an Action Letter from FDA for NDA of FK506 MR in the U.S.

Maureen Martino — Wed, 24 Jan 2007 13:04:00 -0500

Astellas Receives an Action Letter from FDA for NDA of FK506 MR in the U.S.

Announced that its US subsidiary, Astellas Pharma US, Inc. received an action letter from the FDA for the New Drug Application (NDA) regarding its once daily immunosuppressant FK506 Modified Release formulation (generic name: tacrolimus) on January 19, 2007

TOKYO, Japan | Jan 23, 2007 | Astellas Pharma Inc. (headquarters: Tokyo, president and CEO: Masafumi Nogimori) today announced that its US subsidiary, Astellas Pharma US, Inc.(headquarters: Deerfield, IL) received an action letter from the U.S. Food and Drug Administration (FDA) for the New Drug Application (NDA) regarding its once daily immunosuppressant FK506 Modified Release formulation (generic name: tacrolimus) on January 19, 2007 (local time).

The action letter addresses each of the three target indications, the prophylaxis for organ rejection in kidney, liver and heart transplant patients as follows:
- for prophylaxis of organ rejection in kidney transplant patients : Approvable
- for prophylaxis of organ rejection in liver transplant patients : Approvable
- for prophylaxis of organ rejection in heart transplant patients : Not approvable

In their letter, the FDA raises additional issues and questions for each of the three indications, Astellas is internally reviewing the comments outlined in the action letters and is working with the FDA to address any issues they have raised to secure approval of FK506 MR.

Tacrolimus is an immunosuppressant invented by Astellas. Its twice a daily formulation, Prograf® has been marketed about 70 countries around the world. The FK506 modified release formulation is a modified release version of Prograf that can be administered once a day.

The NDA of FK506 MR was submitted to the FDA in the U.S. in December 2005. Application for regulatory approval has also been filed in Japan and Europe.

Contacts for inquiries or additional information
Astellas Pharma Inc.
Corporate Communications
Tel: +81-3-3244-3201 Fax: +81-3-5201-7473
http://www.astellas.com

Press Release: Elbion Acquires Late-Stage Product Candidate For Treatment Of Alcohol Dependence

Maureen Martino — Fri, 19 Jan 2007 10:56:09 -0500

Elbion Acquires Late-Stage Product Candidate For Treatment Of Alcohol Dependence

Leuven, Belgium -- Elbion NV, a leading European drug discovery and development company, today announced it has acquired a number of product candidates from the French biotechnology company DrugAbuse Sciences. The most advanced candidate, Naltrexone Depot, a sustained release formulation of naltrexone, will become elbion’s lead product and the company expects it to enter pivotal Phase III clinical trials in 2007. A second asset acquired is Buprenorphine Depot, a sustained release buprenorphine indicated for the treatment of opiate addiction.

The acquisition of the DrugAbuse Sciences candidates was made in return for a financial consideration comprising elbion shares. Full financial terms were not disclosed.

Naltrexone Depot is a novel, sustained release formulation of naltrexone, an antagonist that blocks receptors in the brain and is used in the treatment of opiate and alcohol abuse. Unlike conventional naltrexone dosage forms (i.e. daily tablets), Naltrexone Depot is designed as a simple once-a-month intramuscular injection which elbion believes will offer significant advantages in the treatment of alcoholism where patient treatment compliance is a major limiting factor.

Previous clinical trials with Naltrexone Depot have shown encouraging results with a trend towards greater levels of abstinence from alcohol for patients receiving treatment compared to those on placebo.

elbion intends to begin a pivotal Phase III trial in 2007 with an improved formulation of Naltrexone Depot. elbion is collaborating on formulation development work with Brookwood Pharmaceuticals, a US drug delivery company and acquired a licence to certain Brookwood technologies as part of the asset acquisition. Brookwood will supply the product for trials.

Bernd Kastler, CEO of elbion, said: “This agreement brings us another advanced clinical product to add to our pipeline and one which we believe can be a significant value driver for elbion. Alcohol dependence has a profound effect on the lives of millions of people around the world and we believe that Naltrexone Depot has the potential to play a major role in their treatment. We intend to initiate a well-designed Phase III programme with an improved formulation of the product, and then to commercialise Naltrexone Depot through our own sales and marketing operations in certain territories and through licensees in others.”

Patrick Langlois, Chairman of DrugAbuse Sciences said: “Today's announcement of elbion's acquisition of the Naltrexone Depot programme and other assets from DrugAbuse Sciences is good news for the future of what we believe is a very high value product. We are confident elbion's clinical expertise and the plans they have put in place for the development and commercialisation of Naltrexone Depot will allow the full potential of the product to be realized and bring value to DrugAbuse Sciences investors through their holdings in elbion.”

Arthur J. Tipton, Ph.D., President and CEO, Brookwood Pharmaceuticals said: “Brookwood Pharmaceuticals strongly believes in the technical and market potential of the long-acting naltrexone under development at elbion. We have developed a positive relationship with the senior team at elbion and are enthused to be working with such a dynamic organization. We look forward to accelerating to market important products for the treatment of alcohol and opiate abuse.”

Buprenorphine depot is in pre-clinical development. elbion intends to develop the product for the treatment of opiate addiction.

Contacts

elbion NV

Ann De Beuckelaer PhD Phone: +32 (0) 16 31 62 84

ann.debeuckelaer@elbion.com

Media Contacts: Citigate Dewe Rogerson

Chris Gardner/ Valerie Auffray/ Yvonne Alexander Phone: +44 (0) 207 638 95 71

About elbion

elbion NV is a Belgian company focused on the discovery and development of new drugs for CNS and immunological diseases. The Company has its headquarters in Leuven and also has significant R&D facilities in Radebeul, Germany.

Including Naltrexone Depot, elbion has a maturing pipeline with three products in the clinic for areas of significant commercial potential and a further portfolio of high quality late pre-clinical development compounds. ELB245 is an established CNS compound that elbion is developing for overactive bladder. It is in Phase II. ELB353, a highly potent PDE4 inhibitor is in Phase I trials for chronic inflammation.

elbion’s strategy is to grow its pipeline through its own integrated drug discovery activities leveraging its expertise in CNS and immunology and also by targeted in-licensing and M&A. elbion will maximise the value of its product portfolio by further partnering of its compounds and through selectively marketing products building its own sales and marketing operation.

In addition to its own clinical pipeline, elbion has a research agreement with Gilead Sciences for the discovery and development of new drugs for the treatment of hepatitis C virus (HCV).

elbion was formed in 2006 through the merger of elbion AG and 4AZA Bioscience NV. elbion AG began operations through a management buyout from Degussa Group in 2002. 4AZA was founded in 2002 as a spin-off from the Catholic University of Leuven.

About Naltrexone Depot

Naltrexone Depot is a novel, sustained release formulation of naltrexone in development for the treatment of alcohol and opiate abuse. The product is formulated for once-a-month intramuscular injection. From the injection site, naltrexone is slowly released into the blood and then into the central nervous system (CNS) where it blocks endorphin receptors. The sustained release mechanism promotes an effective concentration of naltrexone in the CNS over a whole month, thereby potentially improving treatment outcomes by reducing non-compliance often reported with daily naltrexone tablet administration, a significant hurdle in addiction treatment. Alcohol abuse affects more than 20 million people in the US and Europe.

About Brookwood Pharmaceuticals

Brookwood Pharmaceuticals, Inc. is a product-focused drug delivery company that applies its patented and proprietary technologies to design, formulate, and manufacture improved pharmaceutical products. The clinical applications of Brookwood technologies are diverse with current partnered programs covering metabolic diseases, cancer, orthopedic applications, drug/alcohol addiction, psychosis, ocular diseases and sun-induced conditions, and programs ranging from preclinical to Phase III.

The company holds more than 20 drug-delivery patents, and has expertise and facilities for feasibility studies, formulation and product analysis, scale up, clinical lot preparation, and production of final dosage forms. Brookwood Pharmaceuticals has a wide-range of delivery technologies particularly for long-acting parenterals such as injectable microparticles and injectable solid implants to deliver small molecules, peptides, proteins, nucleic acids, and other biological macromolecules. In addition to microspheres and implants, Brookwood provides drug delivery technology with solid-lipid nanoparticles, liposomes, and hydrophobic drug salts, novel biodegradable matrices, and supplies biodegradable polymers through its Lakeshore Biomaterials subsidiary.

Brookwood Pharmaceuticals is a for-profit subsidiary of Southern Research Institute. For more information see http://www.brookwoodpharma.com

Press Release: Ambrilia Biopharma Announces European Licensing Partnership With TEVA

Maureen Martino — Tue, 14 Nov 2006 10:29:40 -0500

Ambrilia Biopharma Inc. Announces European Licensing Partnership With TEVA For Its Lead Oncology Product, Octreotide

MONTREAL, QUEBEC--(MARKET WIRE)-- Nov 15, 2006 -- Ambrilia Biopharma Inc. (TSX:AMB.TO - News), a biopharmaceutical company developing innovative therapeutics in the fields of oncology and infectious diseases, announced today that it has entered into a Licensing/Distribution agreement with TEVA Europe for the marketing of its improved sustained-release formulation of Octreotide for the treatment of acromegaly. No financial terms are released.

TEVA Europe, a subsidiary of the global generic pharmaceutical leader Teva Pharmaceutical Industries Ltd., is Octreotide's licensee for France, Germany, Benelux, Spain and Scandinavia. The agreement comprises of development, regulatory and sales milestones payments, product supply at fixed price as well as royalties on sales and agreed upon minimal annual sales. Ambrilia will manufacture the product at its cGMP (Good Manufacturing Practices) facility in Montreal, Canada, and supply the finished product to its partner for sale in Europe.

"We are very pleased to have TEVA as our partner for the marketing of our improved formulation of Octreotide in those important jurisdictions in Europe. We believe this partnership with the world's largest generic pharmaceutical company bodes well for the future commercial success of Octreotide in Europe," said Hans J. Mader, President and Chief Executive Officer of Ambrilia.

As previously announced, Ambrilia is currently setting up limited clinical studies of its formulation in acromegalics, as scheduled in the development plan of the product. Completion of these studies is expected in the second half of 2007. Ambrilia expects to file for European approval shortly thereafter.

ABOUT OCTREOTIDE, SANDOSTATIN®LAR AND ACROMEGALY

Ambrilia's lead oncology product is a prolonged release formulation of Octreotide. The original product is commercialized as Sandostatin®LAR (octreotide acetate for injectable suspension, a registered trademark of Novartis Pharmaceuticals Corporation) and is owned by Novartis. Octreotide is used for the treatment of a rare disease called acromegaly caused by a tumor of the pituitary gland, and for certain rare digestive tumors.

Acromegaly is a rare and serious chronic condition related to a permanent hypersecretion of growth hormone (GH) by the pituitary gland, generally of tumoral origin. This causes an excessive production of Insulin-like Growth Factor 1 (IGF-1), a hormone secreted from the liver and other tissues. Excessive production of IGF-1 and GH translates into uncontrolled growth of various organs, and debilitating symptoms. Control of the GH and IGF-1 levels by Sandostatin®LAR results in normalizing such excessive growth and symptoms. Medical treatment has an important role to play in the management of patients with acromegaly. It is a life long treatment, with few, mild side effects.

ABOUT AMBRILIA BIOPHARMA

Ambrilia Biopharma Inc. (TSX:AMB.TO - News) is a biopharmaceutical company developing innovative and proprietary early to mid-stage therapeutics in the fields of oncology and infectious diseases. Ambrilia's product portfolio includes an anti-cancer therapeutic peptide (PCK3145), a Tumor Vasculature Targeting (TVT) technology platform, an improved, prolonged release formulation of Octreotide, a new formulation of Goserelin and promising anti-HIV treatments (PPL-100, Anti-HIV Peptides, Integrase Inhibitor Program). Exclusive worldwide rights to PPL-100 and its related compounds have been granted to Merck & Co., Inc. in return for milestone payments that could total up to $US 232 million. Ambrilia's head office, research and development and manufacturing facilities are located in Montreal with a regional office in France. For more information, please visit the Company's web site: www.ambrilia.com

Ambrilia's forward-looking statements

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the Company's filings. Such statements are also based on various assumptions, including the successful and timely completion of clinical studies on Ambrilia's products demonstrating efficacy and safety for human use, their successful commercialization within the forecasted timelines and the attainment of the forecasted milestone payments and other revenues. While Ambrilia anticipates that subsequent events and developments may cause Ambrilia's views to change, Ambrilia specifically disclaims any obligation to update these forward-looking statements.

Source: Ambrilia Biopharma Inc.

Critical Therapeutics slashes staff in restructuring

Thu, 26 Oct 2006 20:01:36 -0400

Critical Therapeutics of Lexington, MA has announced plans to restructure, laying off more than half of its work force as it devotes itself to the commercial and clinical development of an asthma therapy. Critical Therapeutics says it will eliminate 63 jobs by the end of the year, leaving it with 59 employees. Many of those cuts are being made to a dedicated sales force for Zyflo. The company plans to concentrate on the commercialization of zileutin for asthma along with the clinical development of an IV form of zileutin.

"The feedback from physicians to date indicates that Zyflo's current four times daily dosing regimen will continue to make it difficult to gain broad penetration in the asthma market," said Critical Therapeutics President Frank Thomas. "With the twice daily, controlled-release formulation, we expect broader and deeper usage by prescribing physicians, while offering asthma patients another treatment option."

- see the release on the restructuring

Related Articles:
Critical Therapeutics compound fails in Phase II. Report

Tramadol-ER fails in latest Phase III trial

Sun, 10 Sep 2006 20:01:38 -0400

Researchers at Canada's Cipher Pharmaceuticals are blaming an unexpectedly high placebo response for the failure of the pain drug Tramadol-ER in a new Phase III trial. Because of the placebo effect, says Cipher, the drug failed to achieve a statistically significant improvement among volunteers. But Cipher says it can still rely on a mountain of positive data from six completed pharmacokinetic studies and five Phase III studies to back up its NDA for the extended-release formulation. Investors weren't so sure, sending the company's shares down 25 percent.

"The clinical package we submitted to the FDA in June met the requirements for a complete NDA submission as evidenced by the fact it has now been accepted for review. We believe there is sufficient data in the package to support regulatory approval," said Larry Andrews, president and CEO of Cipher Pharmaceuticals.

- see the release on the trial results

ALSO NOTED: Ono to start cancer trials; Ligand CEO steps down; and much more...

Mon, 31 Jul 2006 20:00:50 -0400

> The FDA has given Medarex, the U.S. partner of Japan's Ono Pharmaceuticals, permission to begin clinical trials of the experimental cancer drug ONO-4538/MDX-1106. The two developers have been engaged in a collaboration based on Ono's IP and Medarex's human antibody development system. Report

> Chutes & Ladders: Ligand Pharmaceuticals CEO and Chairman David Robinson stepped down to pursue other opportunities. Report

> Critical Therapeutics has filed an NDA for a controlled-release formulation of zileuton for asthma in adults and children aged 12 years or older. Report

> Barr Laboratories has won FDA approval to manufacture a copycat version of Xanax, a therapy for panic disorder. Report

> MGI Pharma has won orphan drug status from the European Medicines Agency for Dacogen as a therapy for acute myeloid leukemia. Report

> Baxter Healthcare and Innovata have received FDA approval for their Adept adhesion reduction solution. Report

And Finally... Sen. Hillary Rodham Clinton (D-NY) spent some time in Buffalo yesterday talking up biotech as an engine for economic development. Article

ALSO NOTED: Celera moves to cut staff; FDA expands Emend use; FDA approves Perrigo gel; and much more...

Tue, 10 Jan 2006 19:00:50 -0500

> A restructuring at Celera Genomics will include laying off 180 staffers. Report

> The FDA has expanded its approval for Merck's nausea drug Emend to include cancer patients undergoing chemotherapy. Report

> Perrigo's stock ticked up on news that the FDA had approved its desoximetasone gel for skin conditions. Report

> AmpliMed has won European approval for orphan drug status for its lead drug, Amplimexon, for the treatment of ovarian cancer. Release

> Cephalon and Mylan have signed two new collaborations to develop transdermal products for pain and CNS disorders. Report

> PR Pharmaceuticals has struck a deal with OSI Pharmaceuticals to collaborate on the development of a sustained release formulation of Macugen. Release

> ProMetic Life Sciences of Canada has raised $8.9 million in financing. Release

> Threshold Pharmaceuticals has announced positive results from the Phase 1 portion of a Phase 1/2 dose-escalation study of glufosfamide in combination with gemcitabine for the treatment of advanced solid tumors and pancreatic cancer. Release

And Finally… Seven years after New York health officials initiated an ambitious effort to control diabetes, much of the effort has shut down as disease rates have doubled. Insurers are getting the blame; their policies will quickly reimburse for expensive treatments but neglect crucial preventive care. Article

VC: Biolex leads with $36M in round 2

Wed, 07 Sep 2005 20:01:32 -0400

Biolex leads with $36 million second round.

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
Biolex Therapeutics Pittsboro, NC	$36 million second round	Polaris Venture Partners	Locteron, a controlled-release formulation of recombinant human alfa interferon, is expected to enter Phase I clinical trials later this year.
TargeGen San Diego	$30 million third round	BB Biotech Ventures	TargeGen is focusing on the development of small molecule kinase inhibitors for the treatment of edema and angiogenesis related diseases.
Algeta Oslo	$29 million first round	HealthCap	The funds raised will support the continued development of the company's lead product candidate, Alpharadin, through its ongoing Phase II clinical trials and into pivotal Phase III trials as a potential new treatment for bone metastases arising from primary prostate cancer.
Inotek Pharmaceuticals Beverly, MA	$25 million second round	Pitango Venture Capital	Inotek has seven products in pre-clinical or clinical development targeting oncology, cardiovascular, and inflammatory diseases.
Xigen Lausanne, Switzerland	$21 million first round	Tilocor Life Sciences, Venture Incubator, Initiative Capital	Xigen will take its lead compound, XG-102, into the clinic in 2006 for the treatment of stroke.
OncoMed Pharmaceuticals Mountain View, CA	$13.9 million first round	Latterell Venture Partners, US Venture Partners	Research focuses on destroying cancer stem cells that spread to other tissues and seed the metastases that ultimately may claim the life of the patient.
SpinX Technologies Geneva	$12.5 million second round	Bio Fund Management	The funds raised will support the further development and initial commercialization of SpinX's "programmable microfluidics" platform to perform biological assays.
ISTO Technologies St. Louis	$10 million undisclosed	Zimmer Holdings	ISTO is developing cell-based therapies that team with the body's resources to heal, regenerate, and restore full function to damaged cartilage.
Allylix Lexington, KY	$1.5 million first round	Bluegrass Angels	Allylix is focused on the development and commercialization of terpenes, a class of natural chemicals found in plants.

Biolex garners $36M in second round

Wed, 31 Aug 2005 20:01:35 -0400

Biolex Therapeutics of Pittsboro, North Carolina, has rounded up $36 million in its second round of venture capital. Polaris Venture Partners led the round. Much of the money will go to develop its lead drug candidates. Locteron, a controlled-release formulation of recombinant human alfa interferon, is expected to enter Phase I clinical trials later this year.

- read this press release for more

PLUS: San Diego-based TargeGen has raised $30 million in its third round. TargeGen is developing small molecule kinase inhibitors for the treatment of edema and angiogenesis related diseases. Release