Eisai and Quintiles partner to develop Eisai’s anticancer compounds

Eisai has announced that it has concluded a strategic collaboration agreement with Quintiles to develop six anticancer compounds in its oncology pipeline to further expedite its Product Creation Strategy for the oncology-related disease area. Eisai and Quintiles will share the clinical development risks in developing Eisai’s six oncology candidate compounds, which include eribulin mesylate (E7389), E7080, ONTAK(R)(generic name: denileukin diftitox), E7820, E6201, and E7050. Quintiles will conduct proof-of-concept studies (Phase II) for eleven tumour indications, while Eisai will continue ongoing development for 18 other indications for the same six compounds.

ARYx Therapeutics restructures pending licensing deal

ARYx Therapeutics has announced that it has implemented a staffing plan to operate the company that anticipates licensing its lead development programs and resuming development of earlier stage product candidates. ARYx expects to complete an out-licensing agreement in the near term for the clinical development and commercialization of its oral anti-arrythmic agent, budiodarone, and, following that, entering into similar agreements for its two other late stage products, ATI-7505, for the treatment of various gastrointestinal disorders, and tecarfarin, an oral anticoagulant agent.

According to the company a number of large pharmaceutical companies have shown significant interest in budiodarone, leading ARYx to believe that the compound will be partnered in the near term. ARYx has recently secured an up to $35 million committed equity financing facility.

Johnson & Johnson wants more collaborations

The Financial Times is reporting that Johnson & Johnson will in future take more long-term minority stakes and forge alliances with rival pharmaceuticals companies in an effort to share the rising costs and risks of drug development.

Taspoglutide meets its primary endpoint in phase III trial

Ipsen has announced that its partner Roche has disclosed the results of a first phase III clinical study using Taspoglutide, the first human once weekly glucagon-like peptide-1 analogue originating from Ipsen’s Research. According to Ipsen results from Roche’s Phase III study T-EMERGE 2 met its primary endpoint.

Sanofi-Aventis and Micromet collaborate on BiTE antibody

In october 20909 Sanofi-Aventis and Micromet signed an agreement to license and develop the cancer treatment BiTE antibody. According to the agreement, Micromet will develop the treatment through Phase I trials and Sanofi will then take charge of further development and commercialisation of the antibody. Sanofi is to pay Microment €8 million upfront, and Micromet could then receive up to €162 million in royalties and up to an additional €150 million for sales.

Ligand to acquire Metabasis

Ligand Pharmaceuticals and Metabasis Therapeutics have announced they have entered into a definitive merger agreement under which Ligand will acquire all of the outstanding shares of Metabasis.

Under the transaction, Metabasis stockholders will receive a cash payment at the closing of the transaction of approximately $3.2 million, less Metabasis’ estimated net liabilities at closing and an amount to be deposited in the stockholders’ representative’s fund. Metabasis estimates the closing payment to be approximately $1.8 million in cash. In addition, Metabasis stockholders will receive for each Metabasis share four tradable Contingent Value Rights that will be registered on a Form S-4 registration statement to be filed by Ligand with the Securities and Exchange Commission. The CVRs will entitle Metabasis stockholders to cash payments as frequently as every six months as cash is received by Ligand from proceeds from the sale or partnering of any of the Metabasis drug development programs, among other triggering events. Ligand has committed to spend at least $8 million in new research and development funding on the Metabasis programs within 42 months following the closing of the transaction.

Pfizer reported to be shopping for deals in India

The Economic Times of India reports that Pfizer has approached several Indian drugmakers for possible alliances as part of moves to try and bolster revenues threatened by the expiry of patents on key blockbuster drugs in the next three years. The paper reports that Pfizer has talked to Zydus Cadila, Emcure, Intas Pharma and Mankind Pharma, but that the Indian companies have not responded favourably, so far.

PPD invests $100 million in Celtic Therapeutics Holdings

PPD has announced it has signed an agreement to invest $100 million in Celtic Therapeutics Holdings, an investment partnership organized for the purpose of identifying, acquiring and investing in a portfolio of 10 to 15 novel therapeutic product candidates. Celtic Therapeutics will focus on mid-stage drug development candidates that have progressed through human proof-of-concept studies and are targeted to address unmet medical needs, seeking to advance development of these candidates to the next key product milestone, usually the beginning or end of Phase III.

This investment in Celtic Therapeutics is intended to set the stage for a strategic alliance between Celtic Therapeutics and PPD. Both organizations are committed to forging a new framework for timely, cost-efficient drug development. As a result, PPD believes these efficiencies will lead to higher quality data and overall markedly reduced timelines. The goal of the alliance is to bring the best products to market more quickly to meet unmet needs of patients. PPD believes it will benefit Celtic Therapeutics’ mid-to-late stage pipeline across the board.

Cephalon get option to purchase BioAssets Development Corporation

Cephalon and BioAssets Development Corporation have announced that the companies have signed an agreement that will provide Cephalon with an option to acquire BDC. Under the terms of the option agreement, Cephalon will pay BDC an upfront payment of $30 million and, assuming exercise of the option, an additional payment on the closing of the acquisition. BDC stockholders could also receive additional future payments related to regulatory and sales milestones.

BDC is currently conducting a Phase two placebo-controlled proof of concept study with the tumor necrosis factor inhibitor, etanercept, epidurally administered to a minimum of 40 patients with sciatica. Sciatica is a neuropathic inflammatory pain condition that occurs when the sciatic nerve is compressed, injured or irritated. BDC has secured an intellectual property estate around use of TNF inhibitors for sciatic pain in patients with intervertebral disk herniation, as well as other spinal disorders.

SCYNEXIS receives milestone from Merck & Co.

SCYNEXIS has announced that it has received a payment from Merck & Co for achieving a preclinical milestone resulting from a collaboration to discover and develop novel oncology agents.