DUBLIN, Ireland – Elan Corp. plc is putting down a $1 billion bet that the respiratory franchise shared by Theravance Inc. and GlaxoSmithKline plc will pay generous dividends over the next decade. Elan is acquiring a 21 percent stake in Theravance's future royalty streams from four drugs that are partnered with London-based GSK. Read More
Relypsa Inc., which last summer closed an $80 million Series C to fund its pivotal Phase III program of nonabsorbed oral potassium binder patiromer (RLY5016), has fully enrolled the two-part trial, which is evaluating efficacy and safety in treating hyperkalemia in patients with chronic kidney disease (CKD). Read More
A U.S. appellate court blocked Genentech Inc.'s end run around foreign arbitration that could give Sanofi SA a share of the royalties on blockbuster biologic Rituxan. Read More
Dyax Corp. is more than doubling its cash position with a $30 million registered direct offering, with proceeds to fund R&D activities, namely clinical development of DX-2930, a drug slated to start clinical development for prophylactic use in hereditary angioedema (HAE). Read More
LONDON – Shares in Erytech Pharma SA began trading in Paris last week following an initial public offering (IPO) that exceeded the €15 million (US$19.5 million) target, raising €16.7 million. Read More
• OphthaliX Inc., of Petach Tikva, Israel, said M. Francesca Cordeiro, professor at University College London and Imperial College in London, presented independent data showing that an A3 adenosine receptor (A3AR) agonist reduced intraocular pressure in two preclinical models of glaucoma, including partial optic nerve transection and ocular hypertension. Read More
• Actavis Inc., of Parsippany, N.J., reported the FDA has accepted for filing its new drug application for a progestin-only transdermal contraceptive patch (Norethindrone Transdermal Delivery System) for use by women to prevent pregnancy. Read More
• Mirna Therapeutics Inc., of Austin, Texas, has initiated a Phase I study of MRX34, the first miRNA to advance to a clinical trial for cancer. The trial is being conducted in patients with unresectable primary liver cancer or metastatic cancer with liver involvement. Read More
