With Phase IIb data for antibiotic delafloxacin expected by the end of the year and a Phase III trial slated to start in 2012, Rib-X Pharmaceuticals Inc. moved to bolster its balance sheet by raising up to $80 million in an initial public offering. Read More
Pozen Inc. is beefing up its balance sheet by trading royalties for marketed migraine drug Treximet (sumatriptan/naproxen sodium) in exchange for $75 million in cash, a move the Chapel Hill, N.C.-based firm said will put it on solid financial footing as it starts partnering negotiations for PA32540, a gastrointestinal-friendly aspirin candidate in late-stage development. Read More
Oxigene Inc. showed flickers of life by signing a purchase agreement to sell up to $20 million of its common stock, from time to time, to Chicago-based institutional investor Lincoln Park Capital (LPC) Fund LLC. Read More
WASHINGTON – When it comes to the economic adulteration of drugs, an ounce of prevention could end up costing the biopharma industry what it considers confidential information. Read More
• Inviragen Inc., of Fort Collins, Colo., started a Phase II randomized, double-blind, placebo-controlled study of DENVax, an investigational dengue vaccine based on an attenuated DEN-2 virus. The trial will test the safety and immunogenicity of DENVax in multiple age groups in dengue-endemic countries. Data from a Phase I study demonstrated the vaccine is safe and well tolerated and immunogenic in dengue-naive adults. Read More
• Galena Biopharma Inc., of Lake Oswego, Ore., entered a clinical development collaboration with Genentech Inc., of South San Francisco, and the Henry M. Jackson Foundation for the Advancement of Military Medicine to develop NeuVax (E75) in combination with Genentech's Herceptin (trastuzumab) in adjuvant breast cancer patients currently not eligible for Herceptin therapy. Genentech and Galena will sponsor a randomized, blinded multicenter Phase II study in adjuvant breast cancer in about 300 subjects. Read More
