Novo touts results of long-acting insulin study; Phenex raises $7.8M: NewBridge gains $12M round, new CEO

@FierceBiotech: Novartis shuts down Protez, shelves $400M antibiotic program. Article  | Follow @JohnCFierce

 @JohnCFierce: AZ, BMS tout new batch of PhIII diabetes data for dapagliflozin. Article | Follow @JohnCFierce

> Novo Nordisk reports that degludec, its long-acting insulin, is significantly less variable on a daily basis than Sanofi's Lantus. Novo is hoping to see degludec go on to become a mainstay product in coming years. Story

> Germany's Phenex Pharmaceuticals AG closed its Series C financing round with $7.8 million. "Although we were not in a need for fresh money we convinced our investors to contribute these additional funds which are earmarked to go into our very promising new research program in RORgt / autoimmune diseases", explains Thomas Hoffmann, CFO of Phenex. "Another part of the 6 M € will be invested into our ongoing FXR program where we plan to take our compound Px-102 up to a Phase IIa proof of concept clinical study." Phenex release

> Dubai-based NewBridge Pharmaceuticals says it closed a $12 million round and named Joseph W. Henein as president and CEO. NewBridge release

> Waltham, MA-based ImmunoGen announced the start of clinical testing with SAR566658. Eight compounds are now in the clinic through ImmunoGen's product programs and those of its partners. The company expects to have as many as 12 compounds in the clinic by late 2011. ImmunoGen release

> PTC Therapeutics won a $1.6 million grant from the FDA's Office of Orphan Products Development to support an ongoing Phase III study of ataluren in patients with nonsense mutation cystic fibrosis. PTC release

And Finally... Ever wonder why it's such an effort to forget about work while on vacation or to silence that annoying song that's playing over and over in your head? Mathematicians at Case Western Reserve University say that just as thinking burns energy, stopping a thought burns energy -- like stopping a truck on a downhill slope. Release

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