In its first major deal, Danish biotech Symphogen AS agreed to a $330 million collaboration with Genentech Inc. to discover and develop antibody therapeutics against three undisclosed infectious disease targets.(BioWorld Today)

Inspire Pharmaceuticals said its drug for cystic fibrosis, denufosol, was shown to improve the ability of patients to exhale compared to placebo in a six-month study, an announcement that drew cheers from Wall Street in the form of a 34.8 percent stock price boost. (BioWorld Today)

After hitting a 52-week low, shares in Tercica Inc. soared 100 percent on news that Ipsen SA plans to buy the company for $663 million. (BioWorld Today)