Cymabay Therapeutics Inc., of Newark, Calif., said the proof-of-concept study of seladelpar, a peroxisome proliferator-activated receptor delta agonist, for the treatment of primary biliary cholangitis (PBC) was published by Lancet Gastroenterology and Hepatology, a peer-reviewed journal. The research was published as a collaboration involving key international PBC experts.
Aradigm Corp., of Hayward, Calif., said it was awarded a two-year phase II small business innovation research (SBIR) grant of approximately $972,000 by the National Institute of Allergy and Infectious Diseases and NIH to investigate the treatment of the pulmonary non-tuberculous mycobacteria (PNTM) infections, Mycobacterium avium and Mycobacterium abscessus, with its inhaled liposomal ciprofloxacin products, Linhaliq (formerly Pulmaquin) and Lipoquin.
Omeros Corp., of Seattle, priced an underwritten public offering of 3 million common shares at $22.75 apiece, for expected gross proceeds of $68.25 million, and granted underwriters a 30-day option to purchase up to 450,000 additional shares to fill overallotments, potentially adding $10.2 million to the financing. The bought deal offering is expected to close by Aug. 18, subject to customary conditions.
LONDON – New company Vicarius Pharma AG is promising U.S. biopharmaceutical companies a new route to commercializing products in Europe, which it said will provide total returns 1.5 to two times greater than traditional strategies.
HONG KONG – Lumosa Therapeutics Co. Ltd. is exploring the neurology and pain management space with a model designed for biopharmas without huge drug discovery budgets.
Two of China's biggest pharmaceutical companies, Shanghai Fosun Pharmaceutical (Group) Co. Ltd. and Shanghai Pharmaceuticals Holding Co. Ltd., have confirmed bids for a stake in Atlanta-based Arbor Pharmaceuticals LLC in a deal that could be worth upward of $2 billion, depending on the valuation.
Calling complement component 5 (C5) "on its own an industry [that will] ultimately rival tumor necrosis factor-alpha inhibitors" in regard to the target's usefulness, Ra Pharmaceuticals Inc. CEO Douglas Treco told BioWorld that his firm leads the pack in the field. "Ultimately, we think we can own C5, from a mechanistic point of view," he said.
After years of U.S. drug and device companies complaining about forced technology transfers and intellectual property violations being the cost of doing business in China, the U.S. Trade Representative (USTR) is making an investigation of China's trade policies one of its highest priorities.
Biopharma's blue chip companies maintained their strong run this year, with the BioWorld Biopharmaceutical index recording a 3 percent jump in value in July, bringing its year-to date increase to 18 percent. Helping maintain the group's momentum have been strong, better-than-expected second-quarter financial results, particularly from Gilead Sciences Inc. and Vertex Pharmaceuticals Inc., whose share values surged on the news.
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