Avanir raising $88M to fund product launch; Clavis garners 19M euros;

 @FierceBiotech: Merck cites "jaw dropping" data on cholesterol blockbuster contender. Story | Follow @FierceBiotech

 @JohnCFierce: Actelion shares red hot after co. merely noted that it is always engaged in routine talks with other companies. Report | Follow @JohnCFierce

> Pharma's Biggest Flops. Report

> Avanir Pharmaceuticals is selling $88 million in shares to help fund the commercial launch Neudexta, newly approved for involuntary emotional outbursts. Story

> Hot on the heels of a substantial licensing pact with Clovis Oncology, Norway's Clavis Pharma has raised 19 million euros from the sale of shares. Clavis release

> Aeterna Zentaris says it presented promising Phase II efficacy and safety data for its compound, AEZS-108, in advanced endometrial cancer. Aeterna release

> Cambridge, MA-based Stromedix has in-licensed a preclinical antibody program from the UCSF laboratory of Dean Sheppard. "Our clinical development strategy uses a proprietary biomarker database to discover the biologically active dose of an anti-fibrotic agent in the context of a small, short-term trial," says CEO Michael Gilman. "We are excited to be able to leverage what we've learned in the STX-100 program to the αvβ5 antibody and to build a pipeline of valuable biologic drugs to treat chronic and acute organ failure." Stromedix release

> DiscoveRx has acquired the KINOMEscan kinse screening services division from San Diego-based Ambit Biosciences. DiscoveRx release

And Finally... The Top 10 Medical Device Companies of 2010. Report