Other drug development firms could learn a lesson from Biogen Idec Inc. and Elan Corp. plc, which turned once-troubled multiple sclerosis (MS) drug Tysabri (natalizumab) into a potential multi-billion-dollar-a-year product by adopting a personalized medicine approach.
Taking advantage of a modest stock bump following its presentation at the J.P. Morgan Healthcare Conference earlier this month, Ziopharm Oncology Inc. priced a $50.2 million public offering to support ongoing work with late-stage programs, including palifosfamide and a DNA therapeutic gained via last year's partnership with Intrexon Corp.
SAN FRANCISCO – The global recession left the U.S. and much of the rest of the world strapped for cash, with both harsh venture and capital markets taking their toll on the biotech sector. But in China, the economic situation is "really kind of the reverse," noted Greg Scott, founder and president of ChinaBio LLC.
SAN FRANCISCO – The global recession left the U.S. and much of the rest of the world strapped for cash, with both harsh venture and capital markets taking their toll on the biotech sector. But in China, the economic situation is "really kind of the reverse," noted Greg Scott, founder and president of ChinaBio LLC.
SAN FRANCISCO – A day after Canaan Partners disclosed a $600 million fund – a third of that dedicated to the life sciences – Flagship Ventures closed a $270 million round, well above its $250 million fundraising goal.
SAN FRANCISCO – On the periphery of the 30th annual J.P. Morgan Healthcare Conference, with its 8,000 registered attendees and crowded hallways at the Westin St. Francis hotel, another tier of activity reigns: the small and medium-sized life sciences companies hoping to gain an audience with the right investor or partner to bolster shrinking cash balances and propel R&D work to the next levels.
Proving that Ironwood Pharmaceuticals Inc. seeks to grow its pipeline beyond promising irritable bowel syndrome drug linaclotide, the Cambridge, Mass.-based firm picked up rights to a Phase I-stage anti-anxiety compound from Bionomics Ltd. in a deal valued at up to $345 million.
As investors await a mipomersen filing later this quarter, Isis Pharmaceuticals Inc. padded its cash position with an early stage option deal for one of its rare disease antisense programs.
The past year brought the biotech sector a mixed bag of news. Some of it was positive – for instance, the FDA picked up its drug approval pace in 2011 and, in some cases, even surprised the most hardened biotech investors by granting approval of some drugs a month or two before their PDUFA dates – while other headlines hailed discouraging trends such as the failure of Prospect Ventures to close its latest round, confirming predictions of a venture capital contraction. As we get ready to head into 2012 (and possibly an apocalyptic count-down, if those Mayans are to...
