Pluristem to raise up to $50M for trials; Novartis cooperating on China trial probe; New PDUFA date for Remoxy;

 @FierceBiotech: Report: Elan chops San Francisco R&D in big shakeup. Report | Follow @FierceBiotech

 @JohnCFierce: Promosome raises $4.1M in venture cash. working on "enhanced protein expression in...relevant bioproduction platforms." Story |  Follow @JohnCFierce

> Pluristem plans to raise up to $50 million in a secondary offering to finance an advanced study of its experimental therapy for peripheral artery disease. Story

> Novartis says it is cooperating with the U.S. District Attorney's office the Western District in New York, which is probing some of its "legacy" trials in China. "To my knowledge, it's not about anything we've done in the current system," says Trevor Mundel, Novartis' head of development. About 45 percent of Novartis' trial patients are recruited in developing nations. Report

> Researchers at Duke University's Singapore medical school will work with Inviragen on a new dengue fever vaccine. Story

> Durect reported that the FDA has accepted the resubmission of the NDA for Remoxy by King Pharmaceuticals. The PDUFA goal date is June 23, 2011. Release

> Madison, WI-based Flex Biomedical has gained $866,000 in outside funding for its work on orthopedic diseases. Report

And Finally...There's plenty of encouraging news out there today for everyone developing new therapies for diabetes. The CDC reports that there are 26 million Americans who have the disease and another 79 million--35 percent of the adult population--with high blood sugar levels who are classified as pre-diabetic. Story