Glaxo scraps the ovarian cancer app for Votrient; Cerulean lays out terms on $60M IPO;

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> GlaxoSmithKline ($GSK) is throwing in the towel on its campaign to get Votrient approved for advanced ovarian cancer. The drug giant is pulling its application in Europe after concluding that the data didn't paint a sufficiently positive portrait of overall survival benefits for patients--despite an improvement seen in progress-free survival. And the pharma giant has slammed the brakes on filing applications in other countries as well. "We believe that, in spite of the improvement in progression free survival observed in our Phase III study, the totality of the evidence including these more mature OS data, do not support an overall positive benefit-risk for Votrient in this indication," says GSK's oncology chief Rafael Amado. Release

> Cerulean Pharma has laid out terms for its upcoming IPO. The biotech plans to raise about $60 million from the share of 5 million shares for $11 to $13 apiece. Leerink Partners is the bookrunner. Story

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Pharma News

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Biotech IT News

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