Gemphire Therapeutics Inc., of Livonia, Mich., entered a loan and security agreement with Silicon Valley Bank for a term loan of up to $15 million, subject to funding in up to three tranches.

The FDA issued guidance Monday on dealing with informed consent in clinical trials that involve no more than minimal risk to subjects, in keeping with a provision in the 21st Century Cures Act.

Evotec AG, of Hamburg, Germany, said it advanced a drug into phase I development under its multitarget endometriosis alliance with Leverkusen, Germany-based Bayer AG, triggering an undisclosed milestone payment to Evotec, which is also eligible for other clinical and sales milestones as well as royalties on net sales.

Mitsubishi Tanabe Pharma Corp. is buying Israel-based Neuroderm Ltd., the developer of a belt-worn pump for the continuous delivery of liquid levodopa/carbidopa to treat severe Parkinson's disease (PD), for $1.1 billion in cash, or $39 per share.

Nektar Therapeutics Inc. continued its string of partnerships by hooking Eli Lilly and Co. as a collaborator to co-develop NKTR-358, a candidate advanced from inception to the clinic in a mere 15 months. Terms call for Nektar, of San Francisco, to receive $150 million up front with the potential for up to $250 million in additional development and regulatory milestones.

"Playing chess with the disease" is how CEO Steve Worland describes Effector Therapeutics Inc.'s approach, a translational regulation strategy in cancer that bagged the San Diego-based company $38.6 million in series C money.

HONG KONG – The Chinese drug registration authority has approved the phase III trial of a cancer drug in the first open meeting it ever held, clearing the way for late-stage testing of an oncolytic immunotherapy drug developed by Korean biopharma company Sillajen Inc. and its Chinese partner, Lee's Pharmaceutical Holdings Ltd.

HONG KONG – Hong Kong-listed company Uni-Bio Science Group Ltd. now has Chinese conglomerate Heungkong Group as a strategic shareholder as it works to expand its distributing network, build biotech incubation centers and search for international M&A deals.

The U.S. is on the brink of seeing the potential impact a competitive biosimilar market could have on drug prices and accessibility.

Sarepta Therapeutics Inc., of Cambridge, Mass., said it is offering to sell, subject to market and other conditions, $250 million in shares of its common stock in an underwritten public offering.