Corporate VCs pick up some slack in biotech; Dendreon's Provenge data blasted again;

Conversation on Twitter :

 @FierceBiotech: Alzheimer's drug builds new brain cell connections in rats. Story | Follow @FierceBiotech

 @JohnCFierce: New FDA lung cancer OK for Celgene's Abraxane should boost sales. More | Follow @JohnCFierce

 @RyanMFierce: Biotech regulars should appreciate this. Actress Jennifer Aniston investing in a Bob Langer company. More | Follow @RyanMFierce

> Large pharma and biotech companies' venture units have stepped up investments in drug developers as some traditional VC groups step back from the risky bets. Nature article

> Lexicon Pharmaceuticals ($LXRX) has launched a Phase III trial for an experimental drug against carcinoid syndrome. Release

> Reuters reports that a different way of analyzing data on Dendreon's ($DNDN) prostate cancer drug Provenge could have boosted the apparent benefits. Article

> Pfizer ($PFE) revealed that ALO-02, an experimental pain drug, appeared as safe as existing formulations in a Phase III study. Item

> Novartis ($NVS) has dropped development of a long-acting antipsychotic drug known as Fanapt from Vanda Pharmaceuticals. Report

Pharma News

@FiercePharma: How is the U.K.'s fund for NICE-nixed cancer drugs faring? Total spent since 10/2010: £180.9M on 18K+ patients. Report | Follow @FiercePharma

> Novartis, Sanofi unveil data backing their rival MS pills. Story

> New FDA lung cancer OK for Celgene's Abraxane should boost sales. Article

> Pfizer aims to keep CEO off the stand in Chantix trial. News

Medical Device News

 @FierceMedDev: Coming soon: we'll find out if Intuitive Surgical's earnings slowed in Q3 as predicted. Let the speculation begin. More | Follow @FierceMedDev

 @MarkHFierce: Medtech industry's efficiency reaches new level, PWC report concludes. Article | Follow @MarkHFierce

 @DamianFierce: A federal court has tossed Fresenius' $83M Medicare fraud judgement. More  | Follow @DamianFierce

> FDA approves aortic-repair stent grafts. Article

> As it turns to medtech, Sony's credit rating gets lowered. Report

> Observers watch Intuitive Surgical closely for Q3 clues. Story

And Finally… The now notorious New England Compounding, which has been linked with a meningitis scare, faces its first patient lawsuit. Item

Suggested Articles

Joe Jimenez has (another) new gig. The ex-Novartis boss joined the board of Century Therapeutics, a startup working on off-the-shelf cell therapies.

As Pfizer posts its full-year financials today, as usual it’s also sneaked in several dropped projects from its pipeline.

The short seller thinks Principia’s approach to the treatment of autoimmune diseases is “misguided” and likely to lead to clinical failures.