South San Francisco-based Pliant Therapeutics Inc. CEO Bernard Coulie told BioWorld that Novartis AG was drawn to the $80 million deal in nonalcoholic steatohepatitis (NASH) because other firms working in the integrin space "are very much focused on early stages of the disease, with what we call a metabolic approach. We are addressing with our compound, which is a pure antifibrotic, the late stage of the disease, [categorized as] F3 and F4, where most of the liver is already gone. We think that the real market will be there, because that's where health care costs go up" and where patients facing an increased mortality rate "need proper treatment rather than changing their lifestyle" while using something milder.
Spinal cord stimulation company Gtx Medical BV, of Eindhoven, Netherlands, is merging with San Juan Capistrano, Calif.-based Neurorecovery Technologies Inc. in a move aimed at accelerating access to new therapies for spinal cord injury on both sides of the Atlantic. The combined company, which will be known as Gtx Medical BV, is developing both implantable and transcutaneous technologies for people living with paralysis. Financial terms of the deal were not disclosed.
DUBLIN Fresh from the recent FDA approval of its smallpox and monkeypox vaccine, Jynneos (smallpox and monkeypox vaccine, live, nonreplicating), Bavarian Nordic A/S has struck a deal with Glaxosmithkline plc to take on ownership of two commercial vaccines, for rabies and tick-borne encephalitis (TBE), in return for €301 million (US$336 million) up front and up to €495 million in milestones. The two products are forecast to attain combined revenues of €175 million this year.
CLEVELAND – Monday featured a big announcement during the 2019 Medical Innovation Summit, with the Cleveland Clinic and American Well revealing that they are partnering to create a joint venture (JV) focused on telehealth. The venture, dubbed The Clinic for now, was conceived "in order to achieve our joint vision and our ambitions in how to revise the delivery of care and to be at the forefront of it," said Semih Sen, chief business development officer, Cleveland Clinic, as part of a keynote delivered by Roy Schoenberg, president and CEO of Boston-based American Well.
With Alexion Pharmaceuticals Inc.'s acquisition of Achillion Pharmaceuticals Inc. for about $930 million up front, Alexion expands and diversifies its pipeline into familiar territory – treating complement-mediated diseases. Blue Bell, Pa.-based Achillion is developing oral, small-molecule factor D inhibitors for treating complement alternative pathway-mediated rare diseases, including paroxysmal nocturnal hemoglobinuria and C3 glomerulopathy.
PERTH, Australia – Australia's Admedus Ltd. has sold its Cardiocel and Vascucel patch business to U.S-based LeMaitre Vascular for up to AU$36.2 million (US$24.5 million), to include an AU$22.8 million up-front cash payment.
Abbott Laboratories and Tandem Diabetes Care Inc. said Tuesday that they plan to develop and commercialize a line of integrated diabetes products based on Abbott's glucose sending technology and Tandem's insulin delivery systems. The collaboration comes as the U.S. FDA is encouraging medical device manufacturers to consider the ability to share and use information safely and effectively in the development and design of connected devices.
Mayo Clinic has entered a 10-year partnership with Google "to expand on the more than 200 projects already incorporating artificial intelligence (AI) and machine learning," Mayo Chief Medical Information Officer Steve Peters told BioWorld MedTech. The Rochester, Minn.-based health care organization expects Google's expertise in data science and search technology will help the clinic improve treatment and outcomes by developing machine learning models.
Days after going public, Viela Bio Inc. nailed down a deal with Mitsubishi Tanabe Pharma Corp. to develop and commercialize Viela’s humanized anti-CD19 monoclonal antibody, inebilizumab, in nine Asia regions for the rare disease called neuromyelitis optica spectrum disorder (NMOSD), as well as other potential future indications.