Funds from non-profit groups flow to biotech R&D

Epix Pharmaceuticals said this morning that its development pact with the Cystic Fibrosis Foundation has mushroomed into a $50 million deal, adding $37.7 million to the $12 million already provided by the Foundation for new drug research. Epix will have to hit a series of goals for the money. And as a story in the Boston Globe makes clear, Boston-area biotech companies have been able to garner ever larger sums of cash to advance new therapies. Other examples include $25 million in research cash provided by the Juvenile Diabetes Research Foundation, $8.5 million from the Muscular Dystrophy Foundation and $6 million from the Multiple Myeloma Research Foundation.

"It's becoming a significant method of funding," Robert Coughlin, president of the Massachusetts Biotechnology Council, tells the Globe.

"By utilizing our proprietary in silico technology to model the CFTR ion channel, we were able to quickly discover novel CFTR modulators that are fueling our structure-based optimization approach," says Epix CEO Michael G. Kauffman.

- check out the press release
- read the article in the Boston Globe

Related Articles:
Epix shares dive after mid-stage depression failure. Report
Epix shares soar on Alzheimer's trial data. Report
Epix touts data on pulmonary hypertension drug. Report
Epix shares soar on $1.2B pact with GSK. Report
Epix anxiety drug fails in late-stage trial. Report

Suggested Articles

Janssen’s BCMA-targeting CAR-T therapy eliminated tumors in 69% of patients with advanced multiple myeloma in a small phase 1 study.

In a study, BMS' CAR-T therapy banished tumors in more than half and shrank tumors in nearly three-quarters of relapsed blood cancer patients.

Novartis unveiled more data showing how its asthma combo QMF149 fared against the standard of care: a combination of the same types of drugs.