Denmark's Genmab cuts jobs in restructuring; Pacific Biosciences readies $244M IPO

 @FierceBiotech: Aastrom puts hopes in promising CLI therapy. Story | Follow @FierceBiotech

 @JohnCFierce: Interesting remark in Economist story on biosimilars: Lots of litigation ahead as Roche/Genentech, Amgen defend turf. Article | Follow @JohnCFierce

> Denmark's Genmab will cut 33 jobs as part of a company-wide reorganization. CEO Jan van de Winkel says the company "must continue to focus on Genmab's core competency of antibody creation, development and innovation. Today's reorganization is a key step in our commitment to our updated corporate strategy and our goal of becoming a profitable business." Genmab release

> Pacific Biosciences says it will sell up to $244 million in stock in its IPO debut this week. Report

> After seeing its share price surge on the back of rumors that it could be a takeover target, Savient had to watch it fall this morning as Bloomberg reported that a five-month auction process had ended without a deal. Story

> Princeton, NJ-based Soligenix announced that a mid-stage trial of orBec for the prevention of acute Graft-versus-Host disease failed to hit the primary endpoint. The treatment is currently involved in a confirmatory Phase III study. Soligenix release

> Bozeman, Montana-based LigoCyte Pharmaceuticals announced positive results from a Phase I/II challenge study of its norovirus virus-like particle (VLP) vaccine candidate. LigoCyte release

And Finally... Today's 70-year-olds do far better in intelligence tests than their predecessors. It has also become more difficult to detect dementia in its early stages, although forgetfulness is still an early symptom, reveals new research from the University of Gothenburg, Sweden, based on the H70 study. Release

Suggested Articles

Across its 15-year history, Omega Funds has a hand in a clutch of high-profile biotechs such as Editas Medicine and Juno Therapeutics.

After Novartis’ near $10 billion buyout of The Medicines Company, many thought cardiovascular therapies were hot again.

Mutations in RIPK1 can cause uncontrolled cell death and inflammation, researchers discovered by studying families with an autoimmune disorder.