OrbiMed launches $222M Israeli life sciences fund; Roche scouting for new sequencing tech;

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> OrbiMed has established a $222 million fund to invest in Israeli drug developers. OrbiMed Israel Partners Limited Partnership includes an anchor investment provided by the Israeli government. Release

> A Swiss newspaper reports that Roche ($RHHBY) is approaching several universities to see if it can acquire new sequencing technology. The pharma giant reported this morning that it is returning all the shares tendered on Illumina ($ILMN) after it refused to extend its takeover offer at the end of last week. Story

> Ironwood ($IRWD) announced this morning that the FDA has extended its review of linaclotide by three months. Release

> A top Johnson & Johnson ($JNJ) executive says the pharma giant is open to the idea of expanding its partnership with Vertex ($VRTX) on the hep C front. Both companies are engaged in developing interferon-free therapies and a number of companies are testing various combo regimens to come up with new cocktail treatments. Story

Pharma News

 @FiercePharma: Will lame-duck Congress go after pharma's advertising deduction? Ad lobbyists keeping an eye--AdAge. More | Follow @FiercePharma

> China sweeps up dozens in whirlwind drug-capsule probe. News

> Amylin's up for bid; who'll step in line? More

Medical Devices News

@FierceMedDev: Nephros taps John Houghton as president, CEO. Release | Follow @FierceMedDev

> Spurned by Illumina, Roche may be eyeing universities for gene-sequencing tech. Story

> Singapore streamlines fees, approval times for low-risk devices. Article

> FDA trashes European regulatory process. More

Biotech IT News

> NextBio moves genetic analysis software into clinical R&D territory. News

> Survey: Pharma lags peers in gaining trust via social media. More

> GAO report: FDA's IT modernization 'in jeopardy.' Story

> Google VC fuels Series A round for pharma software startup. Article

And Finally... Two bipartisan groups have been gaining support for their calls to increase funding at the NIH. Story