NewLink lands $150M upfront from Genentech
The Genentech Inc. unit of Roche (SIX:ROG; OTCQX:RHHBY) acquired exclusive, worldwide rights to cancer candidate NLG919 from NewLink Genetics Corp. (NASDAQ:NLNK) for $150 million up front. NewLink is eligible for more than $1 billion in milestones, plus escalating double-digit royalties, and retains co-commercialization rights in the U.S.
AbbVie, Shire abandon the altar
AbbVie Inc. (NYSE:ABBV) and Shire plc (LSE:SHP; NASDAQ:SHPG) on Monday agreed to terminate their proposed acquisition, less than a week after the pharma said it was reconsidering the deal. AbbVie must now pay Shire a $1.6 billion breakup fee, and investors still holding out hope for an eventual deal now will have to wait a year under U.K. law.
FDA panel backs Novartis' secukinumab for psoriasis
FDA's Dermatologic and Ophthalmic Drugs Advisory Committee voted 7-0 to recommend approval of Cosentyx secukinumab from Novartis AG (NYSE:NVS; SIX:NOVN) to treat moderate to severe plaque psoriasis in adults who are candidates for systemic therapy or phototherapy. The PDUFA date is not disclosed; Novartis submitted the BLA in October 2013.
Taiho put on Fast Track in mCRC
The Taiho Oncology Inc. subsidiary of Taiho Pharmaceutical Co. Ltd. (Tokyo, Japan) said FDA has granted Fast Track designation for its TAS-102 to treat refractory metastatic colorectal cancer (mCRC) and that the company has started a rolling NDA submission to the agency.
Strong Phase II Crohn's data for Celgene
Mongersen (GED-0301) from Celgene Corp. (NASDAQ:CELG) produced clinical remission rates as high as 65.1% in a Phase II trial in 166 patients with moderate to severe Crohn's disease, according to an abstract published in advance of the United European Gastroenterology's meeting in Vienna.
HealthCare Royalty Partners closes $1.5B fund
HealthCare Royalty Partners closed its third fund, HealthCare Royalty Partners III, at $1.5 billion, which the firm said exceeded its original target by over 75%.
PureTech raises $55M
Science and technology development firm PureTech Ventures (Boston, Mass.) raised $55 million from Invesco Perpetual and other investors including endowments, angels and pharma companies. The funding builds on about $32 million in prior investments, according to CEO Daphne Zohar.
Viamet withdraws IPO
Viamet Pharmaceuticals Inc. (Durham, N.C.) withdrew its proposed IPO on NASDAQ. The company did not provide a reason in its SEC filing and did not respond to inquiries. In July, the infectious disease play filed to raise up to $75 million in an offering underwritten by Piper Jaffray; Wells Fargo and Stifel.
DBV sets terms for dual listing
DBV Technologies (Euronext:DBV) finalized the details of its planned global offering of shares that will include a dual-listing of ADSs on NASDAQ.
POLITICS & POLICY
U.S. calls pathogen research timeout
The White House Office of Science and Technology Policy (OSTP) and HHS announced the U.S. government has halted funding for "gain of function" (GOF) research that could increase the pathogenicity or respiratory transmission of influenza, SARS and MERS viruses. The hiatus will remain in effect while the government carries out a risk-benefit assessment and adopts a new federal policy regarding GOF research. This process is expected to end in 2015.