GlaxoSmithKline Biologicals SA, of Rixensart, Belgium, and Affiris GmbH entered a collaboration agreement granting GSK exclusive rights to Affiris's Alzheimer's disease vaccine programs targeting the beta-amyloid pathway. (BioWorld Today)
Phenomix Corp. and Forest Laboratories Inc. entered a deal to develop and commercialize oral diabetes drug candidate dutogliptin (PHX1149) in North America. (BioWorld Today)
Despite a modest decrease in Byetta (exenatide) sales, Amylin Pharmaceuticals Inc. said it ended that quarter with strong revenues overall and soon will get a $125 million boost from a deal to supply partner Eli Lilly and Co. with a once-weekly version of the drug, upon approval. (BioWorld Today)
Avigen Inc. is shifting focus to its product for neuropathic pain and opioid addiction, after a study of its drug for muscle spasms in patients with multiple sclerosis missed the mark, sending the company's shares tumbling 81.2 percent Tuesday. (BioWorld Today)
As investors remain skittish about the economy, financing options for cash-strapped, publicly traded biotech companies have dwindled. The outlook for the therapeutic biotech industry is somewhat brighter for venture-backed private biotech companies and public companies in a comfortable cash position, but many other biopharmaceutical companies are in a financial pinch. And until the economic turmoil stabilizes, there are few options for public traded biotechs looking to raise cash, industry sources told BioWorld Financial Watch.
Biogen Idec Inc. is stopping development of an investigational arthritis drug due to negative results from two studies that aimed to measure the drug's effectiveness. (BioWorld Today)
