LONDON - Evolutec Group plc raised £9.5 million (US$17.7 million) in a secondary fund raising that was more than two times oversubscribed, just seven months after its initial public offering was pegged back from a hoped-for £7.5 million to £5.1 million. (BioWorld International)

Ligand Pharmaceuticals Inc.'s cancer drug Targretin missed its primary endpoints in two pivotal trials evaluating the drug in front-line combination therapy to treat non-small-cell lung cancer. (BioWorld Today)