Emerging patient safety concerns sent shares of Synta Pharmaceuticals Corp. and Amicus Therapeutics Inc. plunging Friday, as Synta halted development of its late-stage melanoma drug elesclomol due to a higher-than-expected death rate and Amicus suspended a Phase II trial of Pompe disease drug AT2220 after two patients suffered adverse events. (BioWorld Today)

Founded in late 2007 to develop a technology platform that combines discoveries in immunobiology with advances in nanotechnology, Selecta Biosciences Inc. is ready to start moving its program toward the clinic thanks to a $15.1 million Series B round. (BioWorld Today)

In its first major collaboration, privately held Portola Pharmaceuticals Inc. partnered one of its two lead antithrombotic programs with Novartis AG in a deal potentially worth up to $575 million. (BioWorld Today)

VANCOUVER, British Columbia - In today's trying markets, partnering might seem even more important to the biotech industry than it has in the past, and M&A appears to be the "exit strategy du jour," as one panelist remarked during a Tuesday morning session at the BioPartnering North America conference here, but don't expect big pharma to swoop in and snatch up every biotech firm in distress. (BioWorld Today)