CytRx inks $120M pact with Orphazyme; Resolve Therapeutics raises $2M in venture funds;

@FierceBiotech: Analysis: Big Pharma is backing out of more biotech deals. Story | Follow @FierceBiotech

@JohnCFierce: Amylin sues Lilly over Boehringer pact. Says Lilly is mine and only mine when it comes to treating diabetes. Report | Follow @JohnCFierce

> LA-based CytRx ($CYTR) is touting a new pact covering a package of experimental treatments with Denmark's Orphazyme, a two-year-old biotech targeting new treatments for rare genetic lysosomal diseases. The biotech agreed to pay CytRx up to $120 million in milestones and an undisclosed upfront payment. And the LA biotech boasted that the deal clears the way for the company to focus on its pipeline of oncology drugs. Its shares jumped a little more than five percent on the news. Report

> Jim Posada, the CEO of Seattle-based Resolve Therapeutics, has announced $2 million in new funding. Posada says that a third investor should step in to complete the Series A round. Release

> Amarin shares got a small bump as fresh doubts about Abbott's TriLipix focused fresh attention on its experimental cholesterol drug AMR101. Story

> Australia's Benitec, engaged in RNA-based gene silencing for human therapeutics, announced its fully underwritten AU$8 million renounceable rights issue. Benitec release

> In a new collaboration pact Celgene says it will use Foundation Medicine's clinical cancer genomics test in ongoing trials of Celgene drug candidates. Release

> Marina Biotech, an RNAi company, has raised $6.9 million from a stock offering. Story

> Merck has completed its $430 million deal to acquire Inspire Pharmaceuticals. Report

Pharma News

@FiercePharma: Teva snaps up 57% of Japan's Taiyo for $460M. News | Follow @FiercePharma

> Merck to close Inspire HQ, cut jobs. Item

> Forest shareholder demands CEO's resignation. Article

Biotech Research News

> Two research groups link DNA region to major depression. Story

> Report: Human Genome Project was a worthy investment. Item

> Researchers find genetic clue to causes of birth defects. News

> Diabetes, obesity, and one 'master switch' to rule them all. Article

Manufacturing News

> Specialty drugs come to Big Pharma's rescue. News

> Pfizer exec: Pharma needs "simplistic flexibility" to manage costs. Report

> Solve the track/trace puzzle with quality control. Story

> PwC reports high pay, attrition at Indian pharmas. News

> Recall and pharma-return service providers join forces. Item

And Finally... An international team of researchers led by Sang-Hun Lee at Hanyang University and Kwang-Soo Kim at Harvard Medical School has identified a stem cell population that they believe could be used to treat Parkinson's. Release