Two more biotech outfits emerged this week as contenders to complete initial public offerings, highlighting the open season for the deals this year. Bluebird bio and PTC Therapeutics has mounted campaigns to go public with pipelines that target the molecular causes of rare genetic diseases.
Bristol-Myers Squibb has emerged, at least temporarily, as the leader in a race to develop the first new PD-1 drug to fight cancer.
Determined to prove to investors that AstraZeneca has a late-stage game plan that can rescue the pharma company from a lengthy losing streak, the company today spotlighted plans to speed up the Phase III development timeline on three key cancer drugs.
Roche got a big boost for its bid to position the leukemia drug GA101 (obinutuzumab) as a next-gen successor to its blockbuster Rituxan, posting late-stage data last night that showed that a combination with chemotherapy performed much better than chemo alone or in combination with Rituxan.
Before the massive ASCO meeting kicks off on May 31, the Swiss drug giant plans to unveil data from a late-stage study of its next-gen antibody GA101, which is heir to the throne occupied by the company and partner Biogen Idec's Rituxan.
Los Angeles-based biotech startup Kite Pharma has locked in $20 million in a private placement with its new investor Alta Partners and previous backers. By converting $15 million in previous promissory notes to stock, the company has increased the first-round financing to $35 million.
The agency is providing a priority review for the therapy (TMC435) in combination with interferon and ribavirin, possibly speeding its way to the market.
With ASCO looming at the end of this month, previews of the world's most anticipated new cancer drugs are getting under way. And today Bloomberg's Robert Langreth leads off with a collection of experimental immunotherapies which have grabbed the industry's attention with their blockbuster potential.
The biopharma industry racked up two more IPOs thisweek, with the monster deal for pharma services firm Quintiles and public debut of MS drug developer Receptos.
U.S. drug spending dropped last year. While that may be welcome news for healthcare budgets, it's not so good for branded drugmakers.