Teva Pharmaceutical Industries Ltd. continues to plow the oncology space, exercising its option to invest another $19 million in privately held CureTech Ltd. and to finance up to $50 million of CureTech's research and development program.
Tensha Therapeutics, a start-up developing small-molecule bromodomain inhibitors to treat cancer by regulating the transcription of disease-associated genes, has raised $15 million in a Series A financing from HealthCare Ventures LLC, of Boston.
Elusys Therapeutics Inc. received a contract from the U.S. Biomedical Advanced Research & Development Authority (BARDA) for a second indication for its inhalational anthrax antitoxin Anthim (ETI-204). The five-year contract, totaling up to $68.9 million, is designed to develop an intramuscular (IM) formulation of Anthim for pre- and post-exposure prophylactic use.
Danish biopharmaceutical company Orphazyme ApS raised €14 million (US$19.7 million) in a Series A financing to move its lead program, Orph-001, into the clinic. The company, based in Copenhagen, is pursuing technology related to molecular chaperone heat-shock protein 70 (Hsp70) to treat disorders known as lysosomal storage diseases (LSD) – a family of more than 45 often-fatal genetic disorders with few existing treatment options.
On Tuesday, Fibrocell Science Inc. appeared to swim against the tide of nervous capital markets, raising $22.8 million through a private placement of 41,409,458 shares of common stock at a purchase price of 55 cents per share.
Shares of Gentium SpA slid Thursday after the company revealed it had voluntarily withdrawn the new drug application (NDA) for lead product candidate defibrotide.
While its planned merger with AMAG Pharmaceuticals Inc. and a rival offer for AMAG from hedge fund MSMB Capital Management swirled in the background, Allos Therapeutics Inc. enrolled the first patient in its Phase III randomized trial (PDX-017) evaluating Folotyn (pralatrexate injection) in patients with previously undiagnosed peripheral T-cell lymphoma (PTCL). The post-approval study is open to newly diagnosed patients with PTCL who have achieved an objective response following initial treatment with cyclophosphamide, doxorubicin, vincristine and prednisone (CHOP) or a CHOP-like regimen.
SironRX Therapeutics Inc., a regenerative medicine spinoff from the Cleveland Clinic that is developing a topical therapy to accelerate dermal and bone healing and decrease scar formation, closed a $3.4 million Series A investment. The company plans to use the funds to begin clinical trials of its wound therapy technology and to build its senior management and clinical team, according to Rahul Aras, the company's co-founder, president and CEO.
With $9 million raised to date and nine compounds in clinical and preclinical development, P2D Bioscience Inc. already has traction in its efforts to advance product candidates for central nervous system and pulmonary disorders, including attention deficit/hyperactivity disorder (ADHD), obesity, anxiety, depression, Alzheimer's disease, traumatic brain injury and chronic obstructive pulmonary disease.
