Sorrento Therapeutics Inc., of San Diego, said it closed its registered direct offering of about 10.9 million shares of common stock and warrants to purchase up to 10.9 million shares, at a combined purchase price of $2.30 per share and related warrant.
Astellas Pharma Inc., of Tokyo, plans to invest $12.5 million in two innovation incubators operated by Cambridge, Mass.-based Labcentral, which specializes in biotech startups.
Mitsubishi Tanabe Pharma America Corp., of Jersey City, N.J., a wholly owned subsidiary of Osaka, Japan-based Mitsubishi Tanabe Pharma Corp., appointed Gustavo A. Suarez Zambrano vice president of medical affairs.
The Biotechnology Innovation Organization (BIO) said President and CEO Jim Greenwood intends to step down after the 2020 election and will help transition a new leader. A former congressman from Pennsylvania, Greenwood was appointed head of BIO in 2005, succeeding the organization's founding president, Carl Feldbaum.
Cygnal Therapeutics Inc., of Cambridge, Mass., was unveiled by Flagship Pioneering this week as a startup developing drugs targeting exoneural biology, an understanding of how nerves and neural signaling drive human health and disease. The company, led by CEO Pearl Huang, is focused initially on cancer and inflammatory disease.
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