Troubled GenVec decides to stay in business; ThromboGenics inks ophthalmic R&D pact with Bicycle Therapeutics;

@FierceBiotech: Troubled Rigel axes 30 staffers as it maps a comeback R&D strategy. Story | Follow @FierceBiotech

@JohnCFierce: Trending on FierceBiotech: In big setback, GlaxoSmithKline's cancer immunotherapy MAGE-A3 flunks PhIII goal. Article | Follow @JohnCFierce

@RyanMFierce: In growing diabetes market, Sanofi looks beyond iPhone for mobile glucose testing. More from FierceBiotechIT | Follow @RyanMFierce

@EmilyMFierce: Matter: A Catalog for all the World's Viruses? More from the NY Times | Follow @EmilyMFierce

> Gaithersburg, MD-based GenVec ($GNVC) has reversed course on its plans to shutter the gene therapy company. The troubled biotech experienced a nasty setback when it reported that its lead therapy, TNFerade, failed a late-stage study for pancreatic cancer. But the company has since had a change of heart about its prospects for a hearing loss project partnered with Novartis ($NVS) in a $220 million deal. CEO Cynthia Collins, meanwhile, has exited the company and been replaced by CFO Douglas J. Swirsky. GenVec shares ended the day yesterday at 48 cents. Story

> Belgium's ThromboGenics has struck a deal with the U.K.'s Bicycle Therapeutics to develop and commercialize new ophthalmic drugs for a variety of conditions, including diabetic macular edema. Release

> South San Francisco-based Theravance ($THRX) reported positive topline results from a dose-ranging 7-day crossover-design Phase IIb study of its LAMA TD-4208. Release

Medical Device News

@FierceMedDev: Siemens Dx test panel recall draws FDA's "most serious" label. Story | Follow @FierceMedDev

@MarkHFierce: FierceDiagnostics has some great new stories--check them out! FierceDiagnostics | Follow @MarkHFierce

@MichaelGFierce: Laser system gives clear, real-time image of brain tumors for surgery. Item | Follow @MichaelGFierce

> Edwards says diabetes patients may benefit from Sapien heart valve. More

> Echo Therapeutics to meet with angry shareholder. Article

> Philips joins effort to test "focused ultrasound" against metastatic bone cancer. News

Pharma News

@FiercePharma: ICYMI: Yesterday's top story: Onyx CEO will score $58M on Amgen deal. Other execs also to collect millions. More | Follow @FiercePharma

@EricPFierce: New AstraZeneca aseptic manufacturing facility at Macclesfield would add 3 dozen jobs. News | Follow @EricPFierce

@CarlyHFierce: From FierceVaccines: Will increased #flushot options confuse patients? Story Follow @CarlyHFierce

> With $886M Astex buy, Otsuka joins Japanese rivals in overseas dealmaking. More

> Eli Lilly expects no clarity on Alimta monopoly till 2014. Story

> EU leaders slam China for targeting foreign drugmakers. Article

Pharma Manufacturing News

> PhRMA, BIO, GPhA lose suit against drug-disposal law. More

> AstraZeneca plant expansion would add 3 dozen jobs. Story

> Mylan expansions roll on. Article

> Plant in Spain gets warning letter for failing to test products. News

> Merck plant gets FDA nod for bulk varicella. Report

> Last-mile thefts grow dramatically this year. Item

Vaccines News

> PATH defends itself against Indian criticisms of HPV project. Story

> CDC reports strong uptake of Merck's Gardasil in boys. More

> Researchers promise renewed push to build on Thai HIV trial success. Article

> Doctors warn plethora of flu vaccines may confuse patients. News

> FDA clears Merck plant to produce shingles vaccine ingredient. Report

> Israel may drop planned HPV vaccination program. Item

And Finally... A new study finds that hospitals are able to command a wide range of reimbursements from insurers, depending on their market clout. Story

Suggested Articles

Plexium is launching with $28 million to build its platform and a pipeline of drugs that target the enzymes drive recognition of protein targets.

In this week's EuroBiotech Report, Healx raises $56 million, Boehringer's VC wing backs anti-cancer virus startup and Ipsen bags Blueprint drug.

In our EuroBiotech roundup this week, GammaDelta forms antibody spinout, gene therapy startup raises cash and Amsterdam plans medical business park.