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Beijing Shenogen Pharma Group Ltd. has signed a co-development deal with Lee's Pharmaceutical Holdings Ltd. to combine Shenogen's lead compound, icaritin, a traditional Chinese medicine-derived small-molecule drug, with Pexa-Vec, an oncolytic virus being developed in China by Lee's.

In January, after Eleven Biotherapeutics Inc. disclosed mixed phase III data in severe allergic conjunctivitis with the interleukin-1 signaling inhibitor EBI-005 – which also proved a dud in the late-stage experiment for dry eye disease in May 2015 – the stock took a 77 percent hit and Wall Street retreated.

LONDON – Pharming Group NV has seized on Valeant Pharmaceuticals Inc.'s need to "stabilize" its organization and streamline the portfolio, taking back all U.S. rights to Ruconest in the treatment of acute HAE.

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