Icagen shares spike after Pfizer re-ups on pain; S*Bio gets $5M investment; Bad year for IPOs

@FierceBiotech: Novartis wins landmark approval for oral MS drug. Article | Follow @FierceBiotech

 @JohnCFierce: Lundbeck is cutting its R&D staff while shifting to more collaborations on brain diseases. Article | Follow @JohnCFierce

> Icagen will get $5 million from Pfizer after the two companies agreed to extend their pain pact by a year. This is the second extension for Icagen, which remains eligible for $359 million in milestones. Investors seemed to like the sound of that and bid up Icagen's share (ICGND) price by 18 percent this morning. Icagen release | Report

> Singapore-based S*BIO Pte Ltd announced a $5 million investment by Mitsui Ventures. The investment follows the recent completion of patient enrolment for S*BIO's Phase II clinical trials with its orally-active JAK2 inhibitor, SB1518. S*BIO release

> AstraZeneca's experimental cancer drug vandetanib has been simultaneously filed for review in Europe and the U.S. And the FDA says it will give the therapy a priority review. Story

> Ziopharm has won orphan drug status for Zinapar, an experimental drug for aggressive lymphomas. Report

And Finally... The overall state of IPOs in the U.S. remains woeful. Bloomberg found that investors lost money on 61 percent of this year's offerings while 68 percent were forced to cut their prospective price. Story

Suggested Articles

Denali is partnering with Biogen on its Parkinson's disease program, netting a $560 million upfront fee and a $465 million investment.

In the first half of 2020, the regenerative medicine sector raised $10.7 billion, more than the total it raised in 2019.

The trial linked RG6346 to reductions in hepatitis B surface antigen that suggest the RNAi therapy can hold its own against drugs from J&J and Vir.