Following two clinical trial disappointments, the newest being the phase III failure of ampreloxetine, Theravance Biopharma Inc. will restructure by laying off three-quarters of its staff and will stop developing all but two of its non-respiratory disease programs. The ampreloxetine study for treating symptomatic neurogenic orthostatic hypotension failed to meet its primary endpoint, the company announced Sept. 15. In late August, data from a phase IIb dose-finding study showed izencitinib, a gut-selective pan-JAK inhibitor for treating ulcerative colitis, failed to meet its primary endpoint.

LONDON – Breath biopsy specialist Owlstone Medical Ltd. closed a $58 million oversubscribed series D, bringing the total raised by the company since its formation in 2016 to over $150 million. The money will support further development of tests for lung cancer, liver disease and respiratory disease, and of a new class of diagnostics, which rather than measuring endogenous markers of disease, involve administering chemical probes and assessing how they are metabolized.