While many in the biotech industry were surprised when the FDA's Endocrinologic and Metabolic Drugs Advisory Committee voted 10-to-6 against approval of Vivus Inc.'s obesity drug Qnexa (phentermine/topiramate) on Thursday, the aftermath was somewhat more predictable. (BioWorld Today)
Infinity Pharmaceuticals Inc. signed a $488.5 million global licensing deal for Intellikine Inc.'s preclinical phosphoinositide-3 kinase (PI3K) delta and gamma inhibitors, including lead compound INK1197, an oral small molecule slated to begin clinical trials for inflammatory diseases in 2011. (BioWorld Today)
Less than five months after the FDA handed XenoPort Inc. and partner GlaxoSmithKline plc an unexpected complete response letter for gabapentin enacarbil in restless legs syndrome (RLS), the drug failed a Phase IIb trial in migraine prevention. (BioWorld Today)
Privately-held biotechs raised $2.45 billion in the first half of 2010, up from $2.06 billion in the same period last year, according to data from BioWorld Insight. (BioWorld Today)
