Proteostasis Therapeutics Inc. partnered with Biogen Idec to find new drug candidates based on inhibition of Usp14 in a deal worth upward of $200 million. The partnership will pair Proteostasis’ work in protein degradation with Biogen Idec’s expertise in neurodegenerative diseases.
The FDA approved Xiaflex (collagenase clostridium histolyticum) for Peyronie’s disease, making it the first approved therapy for the condition, which is characterized by abnormal tissue in the penis, causing a curvature deformity of at least 30 degrees upon erection.
Positive results in a Phase II trial of its breast cancer drug neratinib sent stock in Puma Biotechnology Inc. skyrocketing 68 percent Thursday. In the trial, a combination of neratinib and Taxol unexpectedly outperformed a Herceptin/Taxol combination by 18 percent to 19 percent, according to analyst estimates.
Zafgen Inc. will funnel its latest $45 million financing into development of its rapidly advancing obesity candidate, beloranib. The financing round included a number of new investors as well as existing investor Alta Partners, which led Zafgen’s Series D round in 2012.
The FDA greenlighted an application from California Stem Cell Inc. to begin Phase III studies of its cancer stem cell-based immunotherapy, DC-TC, in patients with metastatic melanoma.
A new report on pharmaceutical industry returns from Deloitte LLP reveals the cost of bringing an asset from discovery to launch increased 18 percent between 2010 and 2013, and that the average forecast for peak sales of an asset declined by 43 percent.
Amylon LLC, a spinout of Aphios Corp., is prepared to tilt at the windmill that is Alzheimer’s disease through a chemical pathway that has defeated numerous previous attempts, including drugs from industry giant Eli Lilly and Co.
An acquisition of Jennerex Inc. by Sillajen Inc. may be needed redemption for Jennerex’s recently troubled cancer immunotherapy, Pexa-Vec. The product failed to reach its primary endpoint of overall survival in a Phase IIb trial in September, resulting in a stock plummet for Jennerex’s European partner, Transgene SA.
Armo Biosciences Inc. began testing its pegylated recombinant human interleukin-10 (IL-10) compound, AM0010, in the first cohort of patients in a Phase I trial in patients with advanced solid tumors.
Flagship Ventures, Polaris Partners and Third Rock Ventures have teamed up to fund a biotech start-up based on a genome-editing platform to the tune of $43 million in Series A financing.
