> FDA approved Bio Products Laboratory's (BPL) treatment for hereditary Factor X deficiency. The approval marks the first time the U.S. regulator has signed off on a coagulation factor replacement therapy. Elstree, United Kingdom-based BPL won approval for the high purity human factor X concentrate on the strength of data from a pair of Phase III trials, which suggested one shot of the product can treat most bleeds. Release
> A handful of big-name drugmakers signed up to support the $100 million (€90 million) Dementia Discovery Fund set up by the United Kingdom government. Eli Lilly ($LLY), GlaxoSmithKline ($GSK), Johnson & Johnson ($JNJ) and Pfizer ($PFE) are among the companies to contribute cash to the fund, which is being managed by VC shop SV Life Sciences. The idea behind the fund is to invest in projects that could move the world closer to finding a cure or effective treatment for dementia by 2025. Reuters
> Basilea became the latest European biotech to plan a big-ticket Nasdaq IPO. The Swiss biotech, which started life as a spinout from Roche ($RHHBY), is seeking $190 million. Basilea made its plans public on the same day that the European Union gave its blessing to its antifungal isavuconazole, which is sold in the U.S. as Cresemba. The antifungal is one of the pillars around which Basilea is trying to build a sustainable business. Ceftobiprole, an antibiotic already on sale in Europe, is another. The IPO haul will enable Basilea to get a U.S.-focused Phase III trial of the drug started. FierceBiotech
> The Wellcome Trust committed to spending £5 billion ($7.7 billion) on scientific research and outreach over the next 5 years. At £1 billion a year, the funding plan represents a significant ramping up of activity at the nonprofit, which has awarded £11 billion since it was set up in 1936. Wellcome Trust Director Jeremy Farrar thinks the run rate could lead to the organization putting forward more cash in the next 10 years than it did in the first 80 years of its existence. Nature News
> Novartis ($NVS) picked up the global rights to a Phase I cancer program from Palobiofarma. The deal gives Spain's Palobiofarma an upfront payment of $15 million (€13 million), plus the opportunity to pocket more in milestones as the program progresses. Palobiofarma sees the assets as potentially working well in conjunction with anti-PD1 drugs. FierceBiotech
> The United Kingdom outlined plans for a 48-person stem cell diabetes trial. People at high risk of developing diabetes-related kidney disease will be enrolled in the study and given injections of cells grown from bone marrow donations. The hope is that these stromal cells will cut inflammation in the kidney--an idea that is backed up by preclinical data--and in doing so stop end-stage disease from developing. BBC News