Biogen Idec Inc. may have missed its earnings estimates by a penny, but that news was trumped by growing revenues from multiple sclerosis (MS) drug Tysabri (natalizumab), which jumped 28 percent over last year largely due to the availability of a JC virus assay to manage risk for progressive multifocal leukoencephalopathy (PML). Read More
WASHINGTON – In what appears to be one long brainstorming session on ways to restrict drug costs while increasing access to promising therapies and creating U.S.-based jobs, lawmakers are introducing a myriad of bills that range from revising Medicare reimbursement to changing how biopharma does business. Read More
Oncogene targeting is a frequent strategy in cancer research. In the July 13, 2011, issue of Nature, scientists reported preclinical successes using a different strategy: by targeting what they termed a non-oncogene co-dependency. Read More
The acquisition of rights to vernakalant by Merck and Co. Inc. is being greeted as a vote of confidence by investors of Cardiome Pharma Corp. The price of shares in the Vancouver, British Columbia-based company surged more than 28 percent Tuesday after it announced that it was transferring rights for development and commercialization of the drug in North America from Astellas US LLC, a subsidiary of Astellas Pharma Inc., of Tokyo, to Merck, which already had rights in other parts of the world. Read More
Novira Therapeutics Inc., of Radnor, Pa., completed a second round of seed funding to bring its early financing total to about $2.5 million, with another $1 million obtained in nondilutive grants. The latest financing was led by Philadelphia angel groups Delaware Crossing Investor Group, the Mid-Atlanta Angel Group Fund II and Robin Hood Ventures. Read More
Pluristem Ltd., of Haifa, Israel, a wholly owned subsidiary of Pluristem Therapeutics Inc., signed an agreement for the lease and construction of a new regenerative medicine manufacturing facility near its headquarters. Read More
Threshold Pharmaceuticals Inc., of Redwood City, Calif., said the Cancer Therapy & Research Center at the University of Texas Health Science Center at San Antonio started a 28-patient trial of TH-302 in combination with Avastin (bevacizumab, Roche AG) in patients with recurrent high-grade astrocytoma, including glioblastoma. The study will enroll patients whose disease has progressed following both combined modality treatment with radiation and temozolomide chemotherapy, as well as therapy with Avastin. Read More
