Infinity Pharmaceuticals has announced that Mundipharma has committed to providing over $50 million in funding in 2013 for the continued development of IPI-145, Infinity’s oral inhibitor of phosphoinositide-3-kinase (PI3K) delta and gamma, as well as development candidates arising out of Infinity’s innovative discovery programs. According to the companies this extension of the companies’ alliance reflects the broad commercial potential of IPI-145 in both hematologic cancers and inflammatory conditions as well as the continued productivity of Infinity’s discovery and development programs.
Monthly Archives: November 2011
Biogen Idec has announced that federal antitrust regulators cleared its collaboration with Portola Pharmaceuticals on treatments for autoimmune and inflammatory diseases. The collaboration was announced in October. Biogen agreed to pay Portola $36 million upfront and make a $9 million investment in the company. It agreed to pay Portola as much as $508.5 million in development and regulatory milestones. Biogen will cover 75% of development costs for the drugs and get the same percentage of profits. It will lead development and marketing for the drugs in major indications like rheumatoid arthritis and lupus, while Portola will lead U.S. development and marketing of the products for some smaller indications. Portola will have the option to co-promote the products with Biogen.
NuCana Biomed has $10.5 million in a series A round led by Sofinnova Partners. Morningside Ventures, Scottish Venture Fund and Alida Capital also participated in the fund raising. NuCana has licensed the exclusive, worldwide rights to ProTide technology from Morvus Technology to produce next-nucleosides to treat cancer. NuCana is applying the technology to commonly used cancer drugs to bypass key pathways of resistance. A ProTide version of gemcitabine will enter the clinic in early 2012.
Roche, PTC Therapeutics and the SMA Foundation have announced that they have signed a licensing agreement for PTC’s Spinal Muscular Atrophy (SMA) programme. SMA is a genetic neuromuscular disorder that causes muscle weakness. One in every 10,000 children born is affected with the disorder, which currently has no effective treatment. PTC Therapeutics’ programme has been developed in partnership with the SMA Foundation, which will remain active in the collaboration. Under the terms of the agreement, Roche gains an exclusive worldwide license to PTC’s SMA programme, which includes three compounds currently in preclinical development, as well as potential back-up compounds. PTC receives $D30 million as an upfront payment, up to $460 million upon successful completion of certain development and commercialization milestones, and up to double-digit royalties on commercial sales. Development will be overseen by a joint steering committee comprised of members from Roche, PTC and the SMA Foundation.
Marina Biotech has announced that the joint Marina and Debiopharm team has selected and confirmed the lead DiLA2 formulation for a RNAi-based therapy for the treatment of non-muscle invasive bladder cancer. The team has also advanced the lead UsiRNA candidates towards in vivo evaluation to identify a candidate drug product for continued development. According to the companies the joint research and development team expects to select the lead candidate in early 2012. The companies signed their collaboration agreement in February 2011.
Rib-X Pharmaceuticals has announced that it has filed a registration statement with the SEC relating to the proposed initial public offering of its common stock worth up to $80 million. In July Rib-X signed a collaboration agreement with Sanofi.
GVK Biosciences has entered into a drug discovery alliance with Philadelphia-based Moulder Center for Drug Discovery Research at Temple University. As part of the drug discovery collaboration, GVK Bio will be responsible for the target validation, lead identification and lead optimisation of small molecules in selected therapeutic areas, including cardiovascular, metabolic, and central nervous system disorders, it said in a statement. Financial terms of the collaboration were not revealed.
Galena Biopharma has announced a clinical development collaboration with Genentech and The Henry M Jackson Foundation for the Advancement of Military Medicine to develop NeuVax in combination with Herceptin in adjuvant breast cancer patients currently not eligible for Herceptin therapy. Under the terms of the collaboration, Genentech and Galena will sponsor a randomized, blinded multicenter Phase 2 clinical study in adjuvant breast cancer in approximately 300 patients, scheduled to be initiated in the first half of 2012. Clinical studies presented by Galena Biopharma at the American Society of Clinical Oncology meeting in June 2011 demonstrated promising results of NeuVax in combination with Herceptin in preventing breast cancer recurrences.
Genomeweb reports that Rosetta Genomics is facing bankruptcy, according to documents filed this month with the US Securities and Exchange Commission. According to the reports Rosetta has defaulted on a $650,000 payment it owed to Prometheus Laboratories. The terms of an arrangement between the companies state that Prometheus may declare the entire balance of a $1.4 million promissory note from Rosetta as immediately due and payable. Rosetta said in the filing that Prometheus has said it intends to do so.
Abbott Laboratories has announced that it will expand its existing agreement with GlaxoSmithKline Biologicals to include the development of an additional companion diagnostic test in support of GSK’s cancer immunotherapy research program. The company said that companion diagnostic tests are designed to identify specific DNA sequences to help guide physicians in determining which patients are more or less likely to benefit from a particular therapy. The existing agreements between the two companies, announced in July 2009 and March 2010, focused on the development of PCR (polymerase chain reaction) tests to screen non-small cell lung cancer and melanoma tumors for expression of the MAGE-A3 antigen. Under the expanded agreement, Abbott said that it will develop a PCR test for use on the Abbott m2000rt instrument to screen non-small cell lung cancer tumors for the expression of the PRAME antigen.