Axcan Pharma Inc.’s ITAX for functional dyspepsia fizzled in Phase III, but the company said it will continue to work with the compound in other indications such as diabetic gastropathy. (BioWorld Today)

Following up the merger with Australia-based Regenera Ltd. in a $31 million deal, Advanced Ocular Systems Ltd. broadened its intellectual property base by acquiring patent applications that, if granted, could cover the ocular use of anti-VEGF agents such as Genentech Inc.’s Avastin. (BioWorld Today)

Anadys Pharmaceuticals Inc. and South Korean co-developer L.G. Life Sciences Ltd. reported strong data from a Phase II trial with ANA380 against chronic hepatitis B virus, a compound for which Novartis AG holds a license option. (BioWorld Today)