Founded barely 15 months ago to accelerate development of assets in-licensed from Amgen Inc., Atara Biotherapeutics secured its second round of funding, adding $38.5 million in the initial closing of its Series B round.
Though still very early stage, initial Phase II results testing Biolinerx Ltd.’s CXCR4 antagonist, BL-8040, in relapsed and refractory acute myeloid leukemia (AML) patients caught the attention of Wall Street Monday, sending shares of the Jerusalem-based firm jumping 15 percent.
The area of complex carbohydrate chemistry offers broad potential in drug development, with carbohydrates playing key roles in cell function and major disease pathologies. But it’s that first word, “complex,” that has kept less intrepid drug developers away.
In another savvy acquisition for The Medicines Co., the Parsippany, N.J.-based firm nabbed 2-year-old antibiotics developer Rempex Pharmaceuticals Inc., gaining rights to a marketed product that should help lay the groundwork for the commercial launch of its own oritavancin antibiotic, anticipated next year, and a Phase III-ready combination beta-lactamase inhibitor/carbapenem candidate with blockbuster potential.
Shrugging off pre-Thanksgiving initial public offering (IPO) jitters, which saw four biotechs yank their planned IPOs last month, Xencor Inc. exited Tuesday with a $70 million offering to support clinical development of FC-engineered antibody candidates XmAb5871 and XmAb7195.
Three years ago, Metabolex Inc. seemed on the road to success, with a promising gout drug reporting Phase II data and three pharma partnerships inked in quick succession. But then partner Sanofi SA dropped out of a diabetes deal in 2011 and for two years the Hayward, Calif.-based biotech appeared to go dormant.
Shares of Ariad Pharmaceuticals Inc. gained 35.5 percent Friday after the European Committee for Medicinal Products for Human Use (CHMP) recommended that leukemia drug Iclusig (ponatinib) remain on the market in Europe.
Vertex Pharmaceuticals Inc. isn’t above using a good trick twice. Back in 2008, the Cambridge, Mass.-based firm picked up $160 million by selling royalty rights to two Glaxosmithkline plc-marketed drugs to help push through late-stage testing with then-game-changing hepatitis C virus (HCV) drug telaprevir.
Shares of Pozen Inc. jumped 14.6 percent Tuesday on news that U.S. commercialization of Vimovo, its approved gastric-friendly nonsteroidal inflammatory drug, would be transferring to specialty pharma Horizon Pharma USA Inc., a company that has shown early success in marketing its own similar combo product, Duexis.
Shares of Arena Pharmaceuticals Inc. jumped 17.4 percent Friday on news of an expanded alliance with Eisai Inc. for obesity drug Belviq (lorcaserin), a deal that brings $60 million up front and aims to advance the drug into new commercial markets and possibly new indications.
