Aspen sheds products to Endo for $130m

May 11, 2015 - Pharma Times

Endo International has picked up "a broad portfolio of branded and generic injectable and established products" from South African drugs giant Aspen Pharmacare for around $130 million. The Dublin, Ireland-headquartered group said the products cut across numerous therapy areas, including pain, cardiovascular and anti-infectives, giving the firm a much stronger foothold in South Africa as well as access to a portfolio pulling in around ?28 million a year.

 

Mylan buy Teva? That's one way out of a sale, Chairman Coury says

May 11, 2015 - Fierce Pharma

Mylan Chairman Robert Coury has said more than once that Mylan isn't interested in selling itself to Teva. A deal for Mylan to buy its pursuer, though? That's a different story. Coury recently told investors that Mylan would be willing to tango with Teva somewhere down the road--as long as it's the one doing the buying, Reuters reports. That may come as a surprise to industry watchers who have been following the deal scrap. Even before Teva made its $40-billion-plus bid, Mylan came out swinging, listing perceived cultural clashes and antitrust hurdles among the reasons the generics rivals couldn't combine.

 

Precision BioSciences Lands $26M for Gene-Editing Technology

May 11, 2015 - Xconomy

The idea of modifying genes is heralded by some as holding the potential for new therapies addressing rare, genetic diseases, or producing agricultural products with certain desirable characteristics. Precision BioSciences believes that its technology can beat out other emerging gene-editing technologies and it has closed on $25.6 million to prove it. The Durham, NC, company's oversubscribed Series A round was led by venBio, joined by Fidelity Biosciences, Amgen Ventures, Baxter Ventures, Osage University Partners, and The Longevity Fund. Precision Bio says the round also included two undisclosed "well-known public market investors."

 

GSK, UNC-Chapel Hill partner to accelerate search for HIV cure

May 11, 2015 - Outsourcing Pharma

The University of North Carolina at Chapel Hill and GlaxoSmithKline are creating a new HIV research center and a jointly owned new company that will focus on discovering a cure for HIV/AIDS.

 

Lilly and BioNTech partner on immunotherapies

May 11, 2015 - Pharma Times

Eli Lilly and BioNTech AG have signed a research pact to discover novel cancer immunotherapies, seeking to use the body's own immune system to attack cancer cells and create possible new treatment options. The companies plan to work together to identify and validate new tumour targets and their corresponding T cell receptors (TCRs) in one or more types of cancer, which may then be engineered and developed into "potent and selective" therapies.

 

Horizon Pharma enters into settlement and license agreement with Perrigo for Pennsaid 2% patent litigation

May 11, 2015 - Pharmaceutical Business Review

Horizon Pharma, a specialty biopharmaceutical company focused on improving patients' lives by identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs, announced that its affiliates have entered into a settlement and license agreement with Perrigo Company and its subsidiary Paddock Laboratories, collectively (Perrigo), to resolve pending patent litigation involving Pennsaid (diclofenac sodium topical solution) 2% w/w (Pennsaid 2%). Under the settlement and license agreement, Horizon has granted Perrigo the non-exclusive right to market a generic diclofenac sodium topical 2% w/w solution in the United States under Perrigo's Abbreviated New Drug Application (ANDA), beginning January 10, 2029 or earlier under certain circumstances. The agreement includes a stipulation by the parties requesting dismissal without prejudice of the lawsuits filed by Horizon in the U.S. District Court for the District of New Jersey and the U.S. District Court for the District of Delaware relating to the ANDA filed by Perrigo with the U.S. Food and Drug Administration for a generic version of Pennsaid 2%.

 

California Life Sciences Association Becomes Largest Statewide Life Sciences Advocacy Group in United States

May 13, 2015 - BusinessWire

The California Life Sciences Association (CLSA) today officially launched as the leading voice for California's life sciences sector. CLSA is now the largest state and regional life sciences advocacy group in the country, with more than 750 members. The organization advances California's world-leading life sciences innovation ecosystem by advocating for effective national, state and local public policies and supporting entrepreneurs and life sciences businesses. CLSA is the result of a completed merger between BayBio and California Healthcare Institute. "Our industry is at the cusp of improving global healthcare, but without supportive public policy, the potential of new innovations to transform health and life will not be realized," said Rick Winningham, Chairman of CLSA and Chairman and CEO of Theravance Biopharma. "Through CLSA, we have created the strongest possible organization, advocating for policies that support innovation and enable the success of our member organizations, as well as the growth of the life sciences sector within California."

 

Boston Medical Center, Tufts Medical Center abandon merger 

May 14, 2015 - Healthcare Finance

Boston Medical Center and Tufts Medical Center have concluded months of merger talks without a merger. It would have been Boston's first major hospital deal in more than decade, but complexities over the deal eventually killed the plan. "Over the last several months, Tufts Medical Center and Boston Medical Center have carefully considered how we might combine our two organizations," said BMC CEO Kate Walsh and TMC CEO Michael Wagner, MD, in a joint statement. "After much consideration, we have determined that at this time it is best for our medical centers to remain separate."

 

After Shift to Duchenne and Cholesterol Drugs, Catabasis Files For IPO
May 14, 2015 - Xconomy
Catabasis Pharmaceuticals appeared headed for the Nasdaq a few years ago when it brought in some investors known better for backing public companies than biotech startups. The Cambridge, MA-based company has since done some strategic tinkering, however, and now finally appears ready to take the plunge. Catabasis outlined plans yesterday for an IPO to advance drugs it's developing for Duchenne Muscular Dystrophy and high cholesterol levels, respectively. The two drugs are in early-stage testing, and the IPO cash would help Catabasis complete those studies. Should Catabasis complete the IPO, it'll trade under the ticker symbol "CATB."   

 

Intact Vascular Reels In $38.9 Million Series B Financing
May 14, 2015 - Device Space
Intact Vascular, Inc., a developer of medical devices for minimally invasive peripheral vascular procedures, today announced that it has raised $38.9 million in a Series B venture capital financing. The funds will be used to accelerate the development and FDA approval of the company's Tack Endovascular System. The latest round, one of the largest private medical technology financings of 2015, was led by New Enterprise Associates (NEA), with participation from Quaker Partners, H.I.G. BioVentures and other existing investors.

AbbVie, Johnson & Johnson Floated as Possible Suitors For Freshly Flush Galapagos
May 14, 2015 - Bio Space
Mechelen, Belgium-based Galapagos is fattening up its initial public offering plans again, saying this week that it now expects an offering at $288 million, almost double the amount it initially filed for with the U.S. Securities and Exchange Commission last month. Galapagos' ordinary shares are currently listed on Euronext Amsterdam and Euronext Brussels under the symbol GLPG, the same ticker it hopes to bring to the NASDAQ. Morgan Stanley, Credit Suisse and Cowen and Company are bookrunners on the deal, while Nomura and Bryan, Garnier & Co. are acting as co-managers. Morgan Stanley is acting as stabilization agent on behalf of the underwriters. The Belgian drugmaker said the maximum amount has now been capped at $288 million.

Data Provider RealMassive Grabs About $3M for Series A
May 14, 2015 - Xconomy
RealMassive, a commercial real estate data provider, has landed a Series A funding round of about $3 million that gives it a $20 million valuation as the company seeks to launch a subscription service on top of its existing free commercial real estate listings. Since its founding in 2013, the Austin, TX-based company has received $8 million in venture funding led by RHS Investments, as well as Hurt Family Investments and Capital Factory, the local incubator and accelerator program. RealMassive didn't disclose Thursday how much of that $8 million was new money from investors including RHS, which is run by Hank Seale, the founder and chairman of Austin-based Q2 Holdings (NYSE: QTWO). During an interview with Xconomy in March, RealMassive said it had raised $4.6 million to that point.

Three Former Genentech Researchers Launch Neuroscience Company Denali Therapeutics With $217 Million
May 14, 2015 - Bio Space
A new biotech company was launched today in San Francisco, founded by three former Genentech researchers. The company, Denali Therapeutics, will focus on translational research for the development of drugs to treat neurodegenerative diseases such as Alzheimer's, Parkinson's, ALS and others. The founders are Ryan Watts, former director of Genentech's Department of Neuroscience, who will be Denali's chief executive officer, chief scientific officer and board member. Acting as chief operating officer is Alexander Schuth, former director and head of Genentech's Neuroscience Partnering. Marc Tessier-Lavigne, president of The Rockefeller University will be the chairman of Denali's board. Tessier-Lavigne was head of Genentech's drug research prior to its acquisition by Roche in 2009. He is also stepping down from his seat on Pfizer Inc.'s board.

Watertown Regional Medical Center forms joint venture with LifePoint Health 

May 15, 2015 - Healthcare Finance

Wisconsin's Watertown Regional Medical Center said it has entered into a joint venture with LifePoint Health to share ownership of the hospital, the healthcare providers announced on Friday. The deal is subject to approval by the state's attorney general. LifePoint Health, which just this week renamed itself from LifePoint Hospitals, said it will hold an 80 percent stake in the hospital while the remaining 20 percent will be held by the Watertown community. However, the hospital will be run will equally pending the creation of a new board that represents both interests.

 

PharMerica to pay $31.5 million to settle narcotics fraud case

May 15, 2015 - Healthcare Finance

Kentucky-based pharmacy services business PharMerica will pay $31.5 million to settle a federal lawsuit that it dispensed oxycodone, fentanyl and other narcotics without valid prescriptions and submitted false claims to Medicare Part D for the drugs, according to the company and U.S. Department of Justice. PharMerica has agreed to pay $23.5 million to resolve the alleged False Claims Act violations.

 

Selecta Takes Nanotech to Gene Therapy, Celiac With New Deals
May 15, 2015 - Xconomy
Selecta Biosciences looks to have found two new potential niches for its nanoparticle technology. The Watertown, MA-based company is announcing two deals this morning. First, Selecta said that Sanofi has chosen to license a potential immunotherapy treatment for celiac disease, the allergic disorder that renders people unable to digest gluten. Sanofi got the option as part of a 2012 deal between the two companies, and its decision today means that Selecta could ultimately get $300 million in payouts if the drug progresses.   

 

Gelesis, PureTech's Weight-Loss Hopeful, Postpones IPO
May 15, 2015 - Xconomy
Gelesis gobbled up some cash from private investors just a few months ago. But it looks like public investors don't have the same type of appetite for the Boston startup's hydrogel weight-loss pills. According to research firm Renaissance Capital, Gelesis has postponed its planned initial public offering. Gelesis had been hoping to sell 4 million shares at $12 to $14 apiece. Renaissance recently noted that company insiders planned to cover up to 34 percent of the deal. While it's unclear what the next move is for Gelesis, the startup was to be the first company formed by Boston-based PureTech to go public. According to an e-mail statement to Xconomy from CEO Yishai Zohar, the company's April IPO filing was "opportunistic" and Gelesis "may consider pricing [an IPO] as market conditions evolve."   

 

Patrick Soon-Shiong's NantPharma Snaps Up Rights to Sorrento's Cynviloq in Deal Worth $1.3 Billion+
May 15, 2015 - Bio Space
The world's richest doctor and his constellation of companies, NantWorks, have snapped up promising cancer treatment Cynviloq by buying a subsidiary of Sorrento Therapeutics, Inc. for more than $1.3 billion, the companies said Friday. The deal will give Sorrento $90 million in an upfront cash payment plus the potential for more than $600 million in regulatory and $600 million in sales milestone payments. The statement said NantWorks plans to use the drug in multiple cancer indications as part of its buyout of Igdrasol, Inc., a wholly-owned subsidiary of Sorrento. The head of NantWorks is Patrick Soon-Shiong, dubbed "the world's richest doctor" by Forbes magazine. He is also the former founder of Abraxis and American Pharmaceutical Partners, which he sold for a combined $9.1 billion. He also invented the drug Abraxane, for use against pancreatic cancer.   

 

Here's Why Gilead Should Avoid Bigger Deals and Focus on Smaller Cancer-Focused Buyouts
May 15, 2015 - Bio Space
Booming biotech Gilead Sciences, Inc. would be smart to stick to smaller, cancer-focused companies when going shopping, Royal Bank of Canada analyst Michael Yee wrote in a note Friday, as the company begins trying its hand at deal making. Yee said that although Gilead has the cash to do bigger deals, its expertise and pipeline are cancer-based, and it should make smaller buys as opposed to a larger "transformational" one. Gilead's cancer pipeline remains its crown jewel and should be nurtured, wrote Yee. That distinction is an important one, because some analysts have been pushing for Gilead to merge with larger competitor Vertex Pharmaceuticals, a deal Yee apparently thinks is unnecessary. "[For Gilead] 1) expectations are low on this program (few if any investors ask on it), (2) pipeline is all upside for Gilead at this point, (3) management is quietly building a pipeline and we predict they'll continue to do more cancer and immuno-oncology deals less than $5B in size and they're looking in European Union (EU) perhaps using OUS (Outside US) cash."