Not satisfied with merely providing early stage research support to fight cancer, the Multiple Myeloma Research Foundation has an "end-to-end" strategy for fostering drug development at every stage. The MMRF, headquartered in Norwalk, Conn., has served as midwife to four breakthrough therapies for multiple myeloma: Velcade, Thalomid, Revlimid and Doxil.
Portola Pharmaceuticals Inc. is taking back its rights from Merck and Co. Inc. for betrixaban, a Factor Xa inhibitor being developed for stroke. Merck reviewed and reprioritized its late-stage investigational portfolio, and did not find a place for betrixaban. The return of rights to the Phase III-ready product gives Portola an opportunity to develop the drug independently.
XOMA Ltd.'s stock slid nearly 30 percent Wednesday on news that its investigational interleukin-1 inhibitor, XOMA 052, missed its primary endpoint in a Phase IIb trial in Type II diabetes.
Seattle Genetics Inc. has landed yet another partner for its antibody-drug conjugate (ADC) technology. Abbott will pay $8 million up front for rights to pair the technology with its internal oncology target. The deal is merely the latest in a string of partnership agreements that have provided a steady income for the company. Seattle Genetics' 11 collaborations have earned it $155 million in up-front payments, fees and milestone payments to date, and have racked up a total $3.2 billion in potential future payments.
Xenoport Inc.'s stock took a 6.2 percent hit Monday as it reported that its gastroesophageal reflux (GERD) candidate, arbaclofen placarbil, failed to show significant benefits over placebo in a Phase IIb trial. The Santa Clara, Calif.-based company will not pursue the drug any further in GERD, but plans to initiate a Phase III trial in spasticity.
The FDA issued a complete response letter to Eli Lilly and Co. and its wholly owned subsidiary, Avid Radiopharmaceuticals Inc., for its new drug application for Amyvid (florbetapir F 18 injection), an imaging agent to detect beta amyloid plaque in the brain. The FDA requested that Lilly provide a reader training program for marketing of the product to ensure accuracy and consistency in interpreting scans made with Amyvid.
Ariad Pharmaceuticals Inc., of Cambridge, Mass., elected to exercise an option in a contract with its partner Merck and Co. Inc. to co-promote the investigational drug ridaforolimus, being developed by the companies for sarcoma.
Amylin Pharmaceuticals Inc. and Takeda Pharmaceutical Co. Ltd. have become the latest drugmakers to be stymied by safety signals in clinical trials of an obesity candidate. The companies have suspended an ongoing study of pramlintide/metreleptin for obesity.
Omthera Pharmaceuticals Inc., of Bedminster, N.J., raised $33.9 million in Series B funding and initiated Phase III trials for Epanova, its candidate for high triglycerides. The capital raised will support development of Epanova, which could take a bite out of the $2 billion worldwide market for prescription omega-3 fatty acid.
The future of a $760 million partnership between Tolerx Inc. and GlaxoSmithKline plc has been cast into doubt as their investigational humanized anti-CD3 antibody missed its primary endpoint in a Phase III trial.
