Shares of Dermira Inc. (NASDAQ:DERM) climbed 82.2 percent to $12.61 on Monday after new data from a midstage study of its anti-IL-13 candidate, lebrikizumab (lebri), in atopic dermatitis (AD) showed a monthly dose of the drug performing roughly in line with Regeneron Pharmaceuticals Inc.'s blockbuster, Dupixent (dupilumab), which is dosed every other week. Though no head-to-head test with Dupixent was included in Dermira's phase IIb study, three different doses of lebri outperformed a placebo on a standard measure of eczema severity, showing efficacy that analysts said nearly matched Regeneron's drug. Read More
HONG KONG – Chinese vaccine developer Cansino Biologics Inc. is on its way to becoming the seventh pre-revenue biotech to list in Hong Kong. Expected to debut on the main board of the Hong Kong Stock Exchange (HKEX) on March 28, Cansino aims to raise up to HK$1.26 billion (US$160.5 million). Read More
Aerpio Pharmaceuticals Inc.'s phase IIb data with AKB-9778 in moderate to severe nonproliferative diabetic retinopathy (NPDR) failed to provide betterment relative to the phase IIa experiment in diabetic macular edema (DME), but CEO Stephen Hoffman noted that the findings were "hot off the press" and the company needs to conduct an internal review, with more detail to come at a scientific meeting. Read More
LONDON – Allergy Therapeutics plc added one more to the pile of failed respiratory allergy trials, reporting the phase III study of its birch pollen vaccine was confounded by the placebo response rate. Read More
With shares down more than 25 percent since its $5 IPO in October, Phasebio Pharmaceuticals Inc. saw its fortunes reverse with the help of phase I data for its reversal agent, PB-2452. Read More
PERTH, Australia – Respirion Pharmaceuticals Pty Ltd. is the first investment in Western Australia by the Medical Research Commercialization Fund's Biomedical Translation Fund (MRCF BTF). The new Perth-based biotech company is developing an antibiotic therapy that could be life-changing for patients with cystic fibrosis. Read More
Ono Pharmaceutical Co. Ltd., of Osaka, Japan, signed a drug discovery research collaboration with Twoxar Inc., of Palo Alto, Calif., covering a set of lead compounds for undisclosed indications. Ono will retain exclusive rights to develop and commercialize the compounds. In return, it will pay Twoxar research and license fees as well as development and sales milestones. Read More
While the Medicare Part D prescription drug program has been a U.S. success story in many ways, with more than 73 percent of Medicare beneficiaries enrolling in the plans last year, changes to the benefit design and the growing use of high-priced drugs could be eroding incentives to manage the program's costs, the Medicare Payment Advisory Commission (MedPAC) told Congress in its annual report. Read More
Cell Mogrify Ltd., of Cambridge, U.K., said it was awarded $555,000 from Innovate UK to support the application of its bioinformatic platform to move three regenerative cell therapy candidates into preclinical development, with potential applications in wound healing and oncology immunotherapy. Read More
