Eight state biotechnology associations came together to create a conference aimed at the industry as it exists in the Midwest. And it does exist there, thank you, albeit with less cash and with an approach to drug discovery (and everything else) that's often somewhat different from either coast.

Gearing up for an approval of the psoriasis drug Raptiva by year's end, Genentech Inc. and XOMA Ltd. have retooled their agreement, with the former financing the latter's development costs $80 million at a time. (BioWorld Today)

Genentech Inc. reported first-quarter earnings higher than Wall Street expectations - a 59 percent hike in non-GAAP (formerly pro forma) earnings per share - but the company told investors of potential safety issues in one Phase III study with the anticancer drug Tarceva, news that put the biggest dent in shares of Tarceva partner OSI Pharmaceuticals Inc. (BioWorld Today)

With a new CEO installed and a recent favorable court ruling, SangStat Medical Corp. chalked up more good news Wednesday: positive preliminary Phase II data with RDP58, its drug for ulcerative colitis. (BioWorld Today)

"It's all Axokine," said analyst Steven Harr with Morgan Stanley in New York, earlier this month.

Finishing up the merger disclosed at the end of last year with Zentaris AG, AEterna Laboratories Inc. entered into a convertible term loan facility for C$25 million (US$16.98 million) with two investors. (BioWorld Today)