Threshold Pharmaceuticals Inc. expects to raise about $30 million in a registered direct offering to advance clinical trials for its lead hypoxia-activated prodrug TH-302 including a Phase III trial for soft tissue sarcoma expected to start in mid-2011.
Genentech reported that data from the first of two pivotal Phase III studies of Lucentis (ranibizumab injection) in diabetic macular edema (DME) showed "rapid and sustained improvement in vision" compared to a placebo injection.
Now that there's a new approved systemic lupus erythematosus (SLE) therapy for the first time in 56 years, patients and rheumatologists will only have to bide their time for about two more weeks before they can get Benlysta.
Aeterna Zentaris Inc., of Quebec City, announced its third deal for development and commercialization of the company's lead cancer compound, perifosine, this one with Yakult Honsha Co. Ltd., of Tokyo, for $8.3 million up front, a potential $60.9 million in clinical and regulatory milestones in Japan, and double-digit royalties on Japanese net sales. Yakult Honsha will be responsible for the development, registration and commercialization in Japan.
Aerie Pharmaceuticals Inc. closed a $30 million Series B financing that is expected to fund additional Phase II studies and the start of Phase III trials by the end of 2011 for lead product AR-12286, a selective Rho-kinase inhibitor treatment for glaucoma.
We know all too well that forward-looking statements involve significant risks and uncertainties, no forward-looking statement can be guaranteed and actual results may differ materially from those projected.
Since it was founded in 2003 by a group that included 2000 Nobel Prize winner Paul Greengard, privately held Intra-Cellular Therapies Inc. has focused on developing drugs for central nervous system disorders like schizophrenia, Alzheimer's disease and Parkinson's disease. Seldom seeking attention from the press, the company generally flew under the biotech industry radar.
In the latest acquisition of a U.S. biotech with promising oncology offerings by a Japanese company, Daiichi Sankyo Co. Ltd., of Tokyo, bought Plexxikon Inc., of Berkeley, Calif., and its promising melanoma drug PLX4032, for $805 million up front and near-term milestones of $130 million linked to approval of PLX4032.
On the one hand, Protalix BioTherapeutics Inc.'s president and CEO, David Aviezer, sounded like he was really trying to roll with an FDA complete response letter (CRL) for lead compound taliglucerase alfa in Gaucher's disease that instantly sliced more than 20 percent off the company's stock price and added more costly months to the approval process.
