Biotech News
@FierceBiotech: Disappointing cancer data triggers sharp drop in Peregrine $PPHM shares. Story | Follow @FierceBiotech
@JohnCFierce: Pretty grim morning for biotech. 2 trial disasters and a near bankruptcy. But, hey, HemaQuest raised $13M. Release | Follow @JohnCFierce
@RyanMFierce: LSD gets another look as anti-alcoholism remedy. Report | Follow @RyanMFierce
@FierceMedDev: NY Times: Asahi Kasei of Japan Agrees to Buy Zoll Medical for $2.2 Billion. Story | Follow @FierceMedDev
> Over on TheStreet, Nathan Sadeghi-Nejad takes his time to carefully pick apart some of the stellar projections analysts gave to Verastem's preclinical cancer stem cell work. In particular, he zeroes in on UBS analyst Matthew Roden, who gave Verastem a rather incredible 30% probability of success. The industry standard is a POS of 10% at the preclinical stage, and the reality for cancer drugs is more like 6.7%. "Verastem's CEO Christoph Westphal is the proverbial ice cube salesman in the Arctic," notes Sadeghi-Nejad. "He's shown an uncanny ability to sell speculative and risky biotech ventures to clueless and gullible pharmaceutical companies for premium prices." And it's no coincidence, he adds, that UBS co-led Verastem's $59 million IPO. Column
> Canada's Isotechnika says it has reached an accord with the FDA on the Phase III trial design for its lead drug. Report
> Medistem has in-licensed the diabetes discovery work of Yale's Professor Hugh Taylor. Release
Pharma News
@FiercePharma: Sanofi launched a gadget that lets diabetes patients check their blood sugar on iPhones and iPads. News $SNY #pharma | Follow @FiercePharma
> Fake Avastin case highlights need for supply-chain controls. News
> Indian government forces Bayer to accept generic Nexavar competition. Story
> FDA drafts rules for prior review of DTC television ads. News
> Pfizer aims to jump start stalled arthritis-pain drugs. Article
Medical Device News
> Doctors in limbo over recalled St. Jude defib lead. Item
> UnitedHealth lobbies for molecular Dx management. Report
> LensAR raises $24M to back laser system. Story
> Asahi Kasei scoops up Zoll for $2.2B, reflecting Japanese companies' hunger for growth. Item
> BSX grabs ICD startup Cameron Health for $150M+. Report
> Genetic sequencing price tag plunging. News
Biotech IT News
> What IT services do biopharma execs really want? More
> Google VC-backed startup plays 'Moneyball' in Big Pharma partnerships. Report
> Medidata projects big year, settles lawsuit. Story
> Accelrys stays on growth track in Q4. News
And Finally… Investigators at the University of London and the University of Surrey say a protein inside blood vessels has an ability to protect the body from substances that cause cardiovascular disease. Release