Spotlight: Aeglea raises $50M in IPO after slashing share price

IPOs 2016

Austin, TX-based Aeglea BioTherapeutics raised $50 million in its IPO after pricing 5 million shares at $10 each, far below the range that it had set out for itself. The enzyme-replacement biotech had hoped to sell 3.5 million shares at $16 to $18, which proved an impossible task in this turbulent market. Shares will trade under the $AGLE symbol. The biotech raised $44 million in a venture round a year ago, much of which was earmarked for a Phase I/II proof-of-concept study of AEB1102. Release

@FierceBiotech: $BIND Therapeutics looks for immuno-oncology partner, CEO tells FierceBiotech he may have to sell the company. Story | Follow @FierceBiotech

@JohnCFierce: A capricious bureaucracy taking something away is irritating. Treasury targeting a megainversion is predictable. | Follow @JohnCFierce

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> Pfizer ($PFE) is teaming up with IBM on developing better remote monitoring technology for Parkinson's patients, looking to use the data stream to better treat patients and also design better clinical trials for new drugs. Release

> Nancy Hong is joining RiverVest Venture Partners as managing director. The VC firm also announced that it is opening an office in San Diego where Hong will work with RiverVest Managing Director Niall O'Donnell. Release

Medical Device News

@FierceMedDev: Illumina expands San Diego HQ with new Blackrock-owned digs starting mid-2017. Story | Follow @FierceMedDev

@EmilyWFierce: Gilead keeps Martin's pay going strong at $18.8M in his last year as CEO. More | Follow @EmilyWFierce

> FDA approves first leadless transcatheter pacemaker for Medtronic, St. Jude up next. Story

> IBM and Pfizer join forces for real-time patient monitoring system for Parkinson's. More

Pharma News

@FiercePharma: Tokyo-listed SanBio gets Japan PMDA nod for brain trauma stem cell trial. Article | Follow @FiercePharma

@EricPFierce: Unable to find a buyer, Sun will close the Ranbaxy plant in Ireland, lay off 70 remaining workers. Story | Follow @EricPFierce

@CarlyHFierce: Facing a new assessment of Kyprolis, Amgen castigates cost-effectiveness team's methods. More | Follow @CarlyHFierce

> Lilly CEO Lechleiter nabs $16.6M in 2015 pay, with hefty boosts to incentive compensation. News

> Shire promises Treasury rules won't nix its deal for U.S.-based Baxalta. Article

Pharma Asia News

> China biotech Essex Bio signs $3.5M antibodies deal with U.S. antibody specialist Abpro. Item

> Tokyo-listed SanBio gets Japan PMDA nod for brain trauma stem cell trial. Article

> Eisai to work with Russia's PharmStandard on oncology manufacture. News

> Lupin's new M&A deals to strike at Indian rival Sun's perch in Japan. More

> Drug price cuts in Japan sink in though details sparse. Story

CRO News

> Failure of Pfizer-Allergan deal may hit CROs long term. More

> QPS expands biologics service with SCIEX deal. Article

> InVentiv to go public, hopes to raise $500M. Story

> GE Healthcare rolls out new R&D partnership in Turkey. News

> SynteractHCR sends team to the American Lung Association's 'Fight for Air Climb.' More

Pharma Manufacturing News

> Pfizer recalls mislabeled bottles of adult Robitussin. More

> Eisai turns to PharmStandard for manufacturing in Russia. Article

> New player jumping into cell therapies manufacturing. Story

> Teva expands API site in Hungary. News

> Pfizer to look for 20% cost cuts in some manufacturing, Ireland employees told. Report

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