Many countries are starting to galvanize collaborative action against the growing number of infections that are now increasingly resistant to the current inventory of antibiotics. However, there still remain significant scientific, social and economic challenges to be overcome in the development of new therapies.
If you look at the chart (see below) of the number of biotech initial public offerings (IPOs) that have been completed annually in the U.S. during the past 15 years, one year stands out above all others – 2000. The 66 IPOs that were concluded that year represents a lasting testimony to the euphoria around genomics and information technology at the time that catalyzed investors to eagerly snap up new offerings in companies focused on biotechnology and drug development.
Heidelberg, Germany-based Affimed Therapeutics AG graduated to the public ranks by pricing its initial public offering (IPO) of 8 million common shares at $7 each. Although the price was lower than its original $11 to $13 range, the company did dial up the number of shares it offered.
Ahead of last week's Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC) held in Washington, the World Health Organization (WHO) had issued its first comprehensive report on antimicrobial resistance, including antibiotic resistance, drawing data from 114 countries. The results are cause for concern and reveal instances of resistance to antibiotics, especially "last resort" antibiotics, in all regions of the world.
It hasn't taken long for initial public offering (IPO) activity to continue its torrid pace with two more companies announcing their filings. One of Canada's leading private companies, Xenon Pharmaceuticals Inc., of Burnaby, British Columbia, is hoping to join the public ranks filing an S-1 with the SEC and planning to raise up to $52 million.
Ahead of Friday's FDA Endocrinologic and Metabolic Drugs Advisory Committee (EMDAC) meeting, briefing materials have been posted related to the biologic license application (BLA) for Natpara (rhPTH[1-84]) developed by NPS Pharmaceuticals Inc., of Bedminster, N.J.
There is no doubt that investors have shrugged off their usual capital market summer blahs to keep a close eye on the biotech sector. Overall they have liked what they have seen with biotech's leading companies benefitting from that enthusiasm, seeing their share prices soar. During that period, the BioWorld Biotech Blue Chip index hit a new high for the year, thanks to its strong 10 percent jump in value in August.
Biotechnology is no stranger to the creation and analysis of large amounts of data, whether it is "-omics" in nature or from patients in clinical trials. However, having access to masses of datasets is only a good starting point; sooner or later actionable information will need to be drawn from those resources.
We are generating data at unprecedented speeds and volumes. The cancer genome atlas (TCGA), for example, which started out life as a three-year pilot project almost 10 years ago has grown annually to include sequences from thousands of tumors. That is just one example from the many more genomics data repositories that have been established, with each growing almost exponentially. Factor in clinical trials databases and electronic health records, to name just a few, and it is not surprising that we are almost drowning under a massive data deluge.
Biotech's blue chip companies have been on a tear so far this month. Driven by strong second quarter earnings, with strong earnings expected to continue through to the end of the year, and new drug approvals, the sector has provided plenty of positive news so far this quarter to keep investors engaged despite the uncertain geopolitical climate.
