Only willing to sing half the song at the moment, Lyric Pharmaceuticals Inc. drew $20.4 million in a series A round that will pay for two studies with a compound targeting a gastrointestinal (GI) condition, including a proof-of-concept experiment.
Recent outbreaks of respiratory syncytial virus (RSV) in Alabama, Arizona and Colorado children put renewed attention on the disease for which there is no approved therapy in adults, just as Adma Biologics Inc. reported more data from the pivotal phase III trial with RI-002 in primary immune deficiency (PIDD) that included encouraging results in RSV and other pathogens.
Spun out of Verus Pharmaceuticals Inc. in 2008 to focus on developing oral budesonide suspension (OBS) for eosinophilic esophagitis (EoE) in children and adults, Meritage Pharma Inc. has brought the compound to the brink of phase III and found a buyer in Shire plc, which is paying $70 million up front plus development and regulatory milestone rewards as high as $175 million to acquire the company.
Flexus Biosciences Inc., which takes its name from the Latin for "inflection," reached a major via the potential $1.25 billion takeover agreement with Bristol-Myers Squibb Co. (BMS), as the pharma giant disclosed a separate, stock-stimulating deal – also focused on cancer – with Rigel Pharmaceuticals Inc., valued as high as around $340 million.
Xenoport Inc.'s guidance for even-higher sales of Horizant (gabapentin enacarbil) in postherpetic neuralgia and restless legs syndrome (RLS) sparked analyst speculation about potential specialty pharma interest in the compound and about the odds of phase II success for XP23829, due to report psoriasis data in the third quarter of this year.
Debate over market prospects was renewed by the publication of full outcomes from the Protocol T study comparing Regeneron Pharmaceuticals Inc.'s Eylea (aflibercept) with Roche AG unit Genentech's Lucentis (ranibizumab) and Avastin (bevacizumab) against moderate to severe vision loss in patients with diabetic macular edema (DME).
Because Teva Pharmaceutical Industries Ltd. – having settled matters with Eagle Pharmaceuticals Inc. regarding a rapidly infused form of liquid Treanda (bendamustine) – likely "will look to effectuate a 'hard' switch" to Eagle's product, future abbreviated new drug applications (ANDA) likely won't get much traction, even if they can find a way around IP held by Teva.
Formerly known as Chanrx Corp., Laguna Pharmaceuticals Inc. raised $30 million in series B money for phase III work in atrial fibrillation (AF) and atrial flutter with vanoxerine, moving operations from Cleveland to San Diego while bringing aboard as CEO well-known biotech player Bob Baltera.
Readying for another run against amyotrophic lateral sclerosis (ALS) with its fast skeletal muscle troponin activator tirasemtiv, Cytokinetics Inc. heartened Wall Street with strong earnings and what looks like a solid plan for the phase III experiment.
With a satisfying year of revenues from Ampyra (dalfampridine) under its belt, Acorda Therapeutics Inc. has declared readiness to take on not only challenges from generic drugmakers but, most recently, an inter partes review (IPR) petition by hedge fund manager Kyle Bass.
