Rana Therapeutics Inc. made a bold move by acquiring the messenger RNA (mRNA) replacement therapy (MRT) platform developed by units of Shire plc, which took an undisclosed equity stake in Rana and is set to receive undisclosed milestones and royalties on products developed with the technology.
Three biopharmas founded in 2012 but with thoroughly disparate pipelines and missions filed for IPOs as the clock wound down on 2016. Braeburn Pharmaceuticals Inc., Jounce Therapeutics Inc. and Obseva SA filed registration statements with the SEC on Dec. 30, collectively seeking to raise $311.25 million and to list on Nasdaq.
Another day, another research consortium – at least that's the way it sometimes feels early stage drug development is playing out. From Alzheimer's disease (AD) to Zika virus, the upswing in biopharma consortia is unmistakable.
Shares of Tokai Pharmaceuticals Inc. (NASDAQ:TKAI) enjoyed a 50 percent boost Thursday morning after shareholders of the Boston-based company agreed to a share purchase agreement with privately held Otic Pharma Ltd. The transaction will result in the formation of Oticpharma Inc., which will be led by Gregory Flesher, current Otic CEO, and trade publicly on Nasdaq. The companies said Jodie Morrison, Tokai's president and CEO, will sit on the Oticpharma board.
Merrimack Pharmaceuticals Inc., which began 2016 with promise following its first U.S. approval, for Onivyde (irinotecan liposome injection), has instead seen its business meander and its stock price slump this year. Wednesday brought more of the same after the company disclosed that it was halting the phase II HERMIONE study of MM-302 (HER2 antibody-targeted liposomal doxorubicin) in HER2-positive metastatic breast cancer patients previously treated with the Genentech Inc./Roche Holding AG agents trastuzumab (Herceptin), pertuzumab (Perjeta) and ado-trastuzumab emtansine (T-DM1, Kadcyla).
While most analysts and investors were focused on its discussions with potential European partners, Akebia Therapeutics Inc. turned to Asia, again, for a U.S. development and commercialization collaborator for its lead candidate, vadadustat.
Akcea Therapeutics Inc. reported that COMPASS, the first phase III study of volanesorsen, met its primary endpoint, with patients who received the drug (n=75) achieving a statistically significant (p<0.0001) mean reduction in triglycerides of 71.2 percent from baseline following 13 weeks of treatment compared with a mean reduction of 0.9 percent in placebo-treated patients (n=38).
Another day, another research consortium – at least that's the way it sometimes feels early stage drug development is playing out. From Alzheimer's disease (AD) to Zika virus, the upswing in biopharma consortia is unmistakable. Although tangible results are sometimes hard to quantify, the consortium model appears to be gaining momentum because it delivers on its promise: enabling allies as well as erstwhile competitors to collaborate in an environment where the accrual and sharing of information advances a greater good.
Ahead of a Jan. 3, 2017, PDUFA date, the FDA gave its blessing to Vericel Corp.'s MACI (autologous cultured chondrocytes on porcine collagen membrane) to repair symptomatic single or multiple full-thickness cartilage defects of the knee, with or without bone involvement, in adults. The company's shares (NASDAQ:VCEL) spiked more than 70 percent Wednesday on U.S. approval of the cell therapy, disclosed following Tuesday's market close, before finishing the day at $4.10 for a gain of $1.50, or 57.7 percent. Volume of approximately 53.6 million shares was more than 140 times the company's three-month moving average.
