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GlaxoSmithKline (GSK) Invests $12 Million in Canada for Influenza Research PDF Print E-mail
Sunday, 26 February 2012 23:58

OTTAWA,  - Rx&D President Russell Williams made the following statement today about GlaxoSmithKline plc’s new funding of $12 Million to support an additional three-years of research to monitor seasonal influenza vaccine effectiveness in the elderly.

“Today’s announced investment by GlaxoSmithKline will help advance research already undertaken by supporting the tracking of the incidence and severity of diseases in elderly adults hospitalized with influenza across Canada. This funding will ensure key infrastructure will continue as surveillance research will be conducted in 40 hospitals across Canada comprising approximately 17,000 adult acute care beds, including sites in New Brunswick, Nova Scotia, Quebec, Ontario, Manitoba and British Columbia.”

Radius Health collects $27.7M for PhIII osteoporosis program PDF Print E-mail
Monday, 28 November 2011 01:56

Cambridge, MA-based Radius Health has drawn down a $27.7 million tranche from its $91 million financing round as it bores ahead with a pivotal Phase III program for its bone-building drug. In addition to the $21.4 million the biotech gathered from its venture backers, GE Capital, Healthcare Financial Services and Oxford Finance chipped in with a $6.3 million loan. Radius has now collected $57.3 million from its roster of supporters.

Amgen Fills Gap for Early Stage Biotech PDF Print E-mail
Wednesday, 16 November 2011 04:53 Amgen Inc. (AMGN), the world’s largest biotechnology firm, decided that heart drugs being developed by startup MiRagen Therapeutics Inc. were too risky for a partnership deal, the company didn’t just walk away.

Nycomed, Japan firm circle Solvay drug unit-source PDF Print E-mail
Wednesday, 15 July 2009 09:23
Private-equity owned Nycomed [NYCMD.UL] and a Japanese drugs company are in the early second round of an auction for all of Solvay's pharmaceuticals business, a person familiar with the matter said on Wednesday.
Illumina Lowers Q2 Revenue Forecast Due to Order Delays PDF Print E-mail
Thursday, 02 July 2009 10:35 today announced after the close of the market that it expects to report second-quarter revenue of approximately $161 million instead of between $168 million and $173 million as previously forecast.
Roche Applied Sciences Awards Two 10 Gigabase Sequencing Grants PDF Print E-mail
Thursday, 25 June 2009 08:43 Applied Sciences announced today that it is awarding two 10 Gigabase genome sequencing grants — one to a North American research team and another to a group of researchers in Europe.
PPD Terminates Deal with NC Research Campus PDF Print E-mail
Thursday, 25 June 2009 08:32

Pharmaceutical Product Development Inc., a contract research organization based in Wilmington, NC, has terminated its leases with the NC Research Campus in Kannapolis, citing slow development of the site, according to the Salisbury Post.

Swiss Biopharma Lumavita AG Raises $5.53 Million in New Series A Funding PDF Print E-mail
Friday, 19 June 2009 10:42

Lumavita AG, the Swiss biopharmaceutical company specializing in novel anti-infectives for Women’s Health, announces today that it has raised CHF6m (€4m) in an extension to the Series A round the Company initiated in September 2008. The total raised in this financing round is CHF24m.

Watson Pharmaceuticals, Inc. (WPI) Goes Global with $1.75 Billion Arrow Deal PDF Print E-mail
Wednesday, 17 June 2009 09:12 Pharmaceuticals, Inc. today announced that it has entered into a definitive agreement to acquire privately held Arrow Group for $1.75 billion in cash and stock. The combination of Watson and Arrow will result in a global pharmaceutical company with over $3 billion in revenue, commercial operations in over 20 countries, and a robust product portfolio and pipeline. Watson expects the transaction to close in the second half of 2009, and be accretive to cash earnings per share in 2010 before synergies.

Exact Sciences Closes $8.2-Million Private Placement, Enters Into Licensing and Collaboration Agreement PDF Print E-mail
Friday, 12 June 2009 09:16 Sciences Corp. (Nasdaq: EXAS) today announced that it has entered into a collaboration and license agreement with Mayo Clinic.  Exact also announced that it has closed an $8.2-million private placement of 4.3 million shares of its common stock.
Biogen Idec signs up with Samsung on $300 million biosimilars venture PDF Print E-mail
Wednesday, 07 December 2011 03:40

Biogen Idec CEO George Scangos has made good on his vow to hammer out a major joint venture on biosimilars. The biotech has announced it is joining forces with South Korean conglomerate Samsung, biting off $45 million of a $300 million investment to ramp up a new operation to develop, manufacture and market biosimilars--one of the hottest areas in biopharma for a select group of players with the money needed to play the game.

Portola Pharmaceuticals, Inc. Announces Completion of $89 Million Financing PDF Print E-mail
Tuesday, 22 November 2011 08:00 SAN FRANCISCO, CA--(Marketwire - November 21, 2011) - Portola Pharmaceuticals, Inc. today announced that it has raised $89 million in a preferred stock financing. The financing round included existing investors who were joined by Temasek, an Asia investment company, and Eastern Capital Limited. Proceeds will be used primarily to advance betrixaban, a once-daily, oral Factor Xa inhibitor, through Phase 3 clinical development and to advance development of its companion product, PRT064445, a recombinant Factor Xa inhibitor antidote designed to reverse anticoagulant activity in patients treated with Factor Xa inhibitors suffering major bleeds or requiring surgery. Portola plans to initiate a Phase 3 betrixaban program to prevent venous thromboembolism (VTE) in acute medically ill patients in the first half of 2012.

GSK stakes $50M Canadian investment fund, betting on early-stage biotech research PDF Print E-mail
Saturday, 12 November 2011 06:22

GlaxoSmithKline ($GSK) wants to do its part to make sure Canada's biotech scene remains vital as drug developers struggle to find capital for early-stage research. The London-based drug giant plans to pump $50 million into the GSK Canada Life Sciences Innovation Fund, which will be supported by the company's group based in the country as well as its venture capital arm, SR One.

Viamet Pharmaceuticals Secures $18 Million Financing PDF Print E-mail
Tuesday, 07 July 2009 10:48

Viamet Pharmaceuticals Secures $18 Million Fianceing. Company to Advance Development of Novel Metalloenzyme Inhibitors and Proprietary MetallophileTM Technology Platform

Clavis Pharma ASA Raises $20 Million in a Private Placement to Fund Further Development of its Pipeline of Novel Anticancer Drug Candidates PDF Print E-mail
Friday, 26 June 2009 10:38 Pharma ASA (OSE: CLAVIS) today announced that the Company has raised NOK 129 million (equivalent to USD 20 million) in gross proceeds through a private placement of 10,750,000 new shares, each with a par value of NOK 1.00 at a price of NOK 12.00 per share (the "Private Placement").

TARIS Biomedical Launches with $15 Million in Funding to Develop Innovative Drug-Device Therapies PDF Print E-mail
Thursday, 25 June 2009 08:38
TARIS Biomedical, a specialty pharmaceutical company pioneering the field of drug-device convergence for targeted therapies, launched today and announced it has secured $15 million in Series A financing. Leading venture capital firms Flagship Ventures, Flybridge Capital Partners and Polaris Venture Partners co-led the investment in TARIS, which was founded by internationally renowned scientists from the Massachusetts Institute of Technology (MIT), Michael Cima, Ph.D. and Robert Langer, Ph.D., along with Christine Bunt, Chief Operating Officer and former executive with CombinatoRx, Merck & Co and Hoffmann La-Roche.
Targeted Genetics Cuts Workforce in Half in Bid to Survive Into August PDF Print E-mail
Monday, 22 June 2009 10:18 Genetics, the Seattle-based developer of gene therapies, said today it is cutting more than half of its workforce in a bid to make its dwindling cash reserves last into August.

New Comparative Effectiveness Bill Enhances Dx, Genomics Focus PDF Print E-mail
Friday, 19 June 2009 10:25

A bill introduced last week in the Senate that would create an independent institute for comparative effectiveness research includes more emphasis on the role of personalized medicine than last year's version of the bill, according the bill's sponsors, Senators Max Baucus (D – Mont.) and Kent Conrad (D – ND).

Life Technologies Foundation Announces $2 Million in Grants to Advance Science PDF Print E-mail
Friday, 12 June 2009 10:03 Non-Profit Organizations Selected for Unique Efforts to Advance New Technologies and Understanding of Science.

CARLSBAD, Calif.--(BUSINESS WIRE)--The Life Technologies Foundation today announced that it has awarded $2 million to three grant recipients working to advance science, including the University of North Texas for DNA-PROKIDS, the New York Academy of Sciences and the Science Museum in London.