Agios Pharmaceuticals said it plans to use the proceeds from a just-completed $33 million Series A financing to establish a product and biology platform focused on a new class of drugs that regulate cancer metabolism. (BioWorld Today)

GTC Biotherapeutics Inc. and Ovation Pharmaceuticals Inc. have entered a $257 million agreement to develop and market ATryn in the U.S., a deal that includes $3 million up front, and an additional $2 million expected this year. (BioWorld Today)

A handful of companies are working to develop a treatment for a rare lung disorder called pulmonary fibrosis that, by some estimates, could present a $500 million to $1.5 billion market opportunity. (BioWorld Financial Watch)