Prominent Chinese investors have set their sights on Canada's Medical Devices Innovation Institute (MDI) for 7 new devices that could have over $1 billion each in sales potential, according to the institute's estimates.
Bristol-Myers Squibb joined the lineup of biopharma companies executing R&D realignments today, announcing plans to cut back on some of its discovery work in three key disease areas and eliminate 70 to 75 positions in its R&D group as it concentrates resources on late-stage programs.
ImmunGene is working to get its lead armed-antibody cancer treatment from the lab to the clinic, and now the California company has $9 million in Series A cash to light the way.
Shire is prepping a plan to cut back on its sizable research operations in Basingstoke, U.K.--another setback for the country's research industry with Novartis axing more than 500 staffers and consultants in Horsham following major blows from AstraZeneca and Pfizer.
The Boston Globe reports this morning that Novartis told staffers on Wednesday that it will shutter a cancer research program in Emeryville, CA, as it cuts about 500 research staffers from the payroll and adds 175 to its booming operations in the Boston-area biotech hub.
With Sanofi having already begun enrollment for its 15,000-person Phase III trial, the French company has a clear lead in the race to develop a Clostridium difficile vaccine, but a growing pack is in pursuit. The latest to give chase is a group of European scientists with a new angle--they are developing an oral vaccine.
RNA delivery specialist Arrowead Research heralded new data supporting its genetic treatment for hepatitis B, which makes use of the company's polymer-based method for effectively getting RNAi to the nucleus. And its immunological response offers what could be a "functional cure" for the disease.
If you want to cripple cancer cells, go straight for their power source, according to researchers at MIT and the University of Toronto. The scientists have developed a delivery method for the cancer drug cisplatin that sends it straight to the energy-producing mitochondria of the offending cells.
GlaxoSmithKline has rounded up some early preclinical projects in its inaugural Discovery Fast Track competition, hand-picking academic scientists for a chance to partner up and kick-start their research into a development program.
Novartis is bringing the ax down on close to 400 R&D jobs at its respiratory R&D center in West Sussex in the U.K., signaling that the restructuring is part of a broader global realignment.