Raising $65.2 million in its largest financing to date, Gemin X Biotechnologies Inc. plans to advance its lead oncology candidate through Phase II studies. (BioWorld Today)
Signing its fourth major drug discovery alliance, Lexicon Genetics Inc. formed a $72.5 million collaboration with NV Organon to find five drug candidates for inflammatory disease. (BioWorld Today)
Development and regulatory challenges have prompted NeoRx Corp. to drop development of its lead cancer program, close a Texas manufacturing facility and reduce its work force by 40 percent, all in an effort to focus its resources on the chemotherapeutic agent Picoplatin. (BioWorld Today)
Getting a stronger foothold in the cardiovascular therapeutic area, Kos Pharmaceuticals Inc. paid $104 million in cash to Biovail Corp. for U.S. sales and marketing rights to Cardizem LA. (BioWorld Today)
