BenevolentAI Ltd., an artificial intelligence (AI)-driven drug discovery firm that sees the pharmaceutical industry as ripe for disruption, has raised $115 million to scale up its drug development activities, broaden its disease focus and hire new talent. Since 2013, it has raised more than $200 million, including the latest inflow, sourced primarily from U.S. investors. Read More
Capricor Therapeutics Inc., of Los Angeles, reported preclinical data for multiple treatments of its cellular therapy, CAP-1002, at the 11th Annual Neuromuscular Translational Research Conference in Cambridge, U.K. In the mdx mouse model of Duchenne muscular dystrophy, multiple administrations were possible due to the low immunogenic profile and immunomodulatory capabilities of the drug. Read More
The U.S. Department of Health and Human Services and other federal departments are once again proposing a delay in the compliance date for the 2018 requirements for the protection of human subjects in federally supported research. Read More
Oasmia Pharmaceutical AB, of Uppsala, Sweden, completed the private placement of a new convertible loan for SEK26 million (US$3.1 million) at an interest rate of 8 percent. Read More
Researchers have found that in the case of a mild concussion, damage to the lining of the brain was quickly repaired by the peripheral immune system, and once repaired, was no worse for wear in the face of a second injury. Read More
LONDON – A rapid rise in the incidence of multimorbidity is calling into question treatment guidelines and the applicability of the evidence on which many drugs are prescribed, according to a panel of 17 international health experts in a new report. Read More
Surface Oncology Inc. picked a day when the U.S. financial markets were flowing solid red to price its upsized IPO of 7.2 million common shares at $15 apiece – the high end of its proposed range – and raise $108 million. The Cambridge, Mass.-based company added $11.5 million in a concurrent private placement of 766,666 additional shares to Novartis Institutes for Biomedical Research Inc. at the IPO price. A 30-day option to underwriters to purchase up to 1.08 million additional common shares could add $16.2 million to Surface's haul. Read More
DUBLIN – Veteran German antibody developer Morphosys AG swelled the ranks of European biotech firms on Nasdaq by grossing $207.8 million from an offering of 8.3 million American depositary shares, which it priced at $25.04 per share. If exercised, an overallotment option comprising 1.245 million shares would add another $37.35 million to the proceeds. Shares in the Martinsried-based firm began trading today under the ticker symbol MOR, and quickly went into positive territory, reaching $26.47 at one point and ending the day at $26.31. Read More
More than a year after an independent data monitoring committee (IDMC) suggested that Argos Therapeutics Inc. halt the pivotal phase III ADAPT trial of lead candidate rocapuldencel-T (roca-T, formerly AGS-003) for futility, the Durham, N.C.-based company threw in the towel and said it was exploring a range of strategic alternatives, including a potential merger or sale of the company. Read More
A year after receiving a complete response letter (CRL), Eli Lilly and Co. is heading to the FDA Arthritis Advisory Committee Monday to make its case for baricitinib. But as one analyst indicated, it won't be a walk in the park. Read More
Advances made during the last five to seven years in cannabis-based therapies equal about 50 years' worth of the same in the pharmaceutical industry overall, George Scorsis, CEO of Liberty Health Sciences Inc., told BioWorld. Federal legislation to enable more experiments with marijuana will keep the pace brisk, along with work by the likes of GW Pharmaceuticals plc. Read More
DUBLIN – Allergan plc threatened to disrupt Takeda Pharmaceutical Co. Ltd.'s ongoing wooing of Shire plc by confirming Thursday in response to press speculation that it was "in the early stages of considering a possible offer for Shire." The news drove Shire's stock about 6 percent higher as investors positioned themselves as beneficiaries in a possible bidding war. Three hours later, Dublin-based Allergan issued a terse follow-up statement: "In order to comply with the requirements of the U.K. takeover code, Allergan announced that it does not intend to make an offer for Shire." Read More
