After disappointing Phase III data for the lung cancer drug Xyotax, Cell Therapeutics Inc. has sold its one marketed product - Trisenox - to Cephalon Inc. for up to $170 million. (BioWorld Today)
Vertex Pharmaceuticals Inc. sold 11.75 million shares to raise gross proceeds of $152.8 million, the second highest amount of any biotech follow-on or initial public offering this year. (BioWorld Today)
Hailed as the largest Phase I deal in biotech history, Anadys Pharmaceuticals Inc. entered a potential $570 million agreement with Novartis Pharma AG to advance ANA975 and other Toll-like receptor 7 oral prodrugs for chronic hepatitis C and hepatitis B viruses. (BioWorld Today)
About three weeks after Phase III data showed Cerovive hit its primary endpoint, Renovis Inc. formed a preclinical research deal with Pfizer Inc. worth up to $187 million or more for products that inhibit the vanilloid receptor (VR1). (BioWorld Today)
