Map Pharmaceuticals of Mountain View said today it has suspended development of its drug candidate aimed at asthma in children after its development partner, AstraZeneca terminated its license agreement related to Unit Dose Budesonide. Earlier this year results from a Phase 3 clinical trial of the drug candidate failed to meet expectations in either Read the rest of this entry »
Maxygen, the Redwood City biotech company that hired Lazard last October to help it explore “strategic options” about the same time it laid off 30 percent of its staff, announced plans today for a deal with Astellas Pharma of Japan that will transfer most of its research and development operations and personnel to the a new joint venture funded by $10 million co-payments by both companies.
Maxygen will contribute substantially all of its Read the rest of this entry »
Shares of Palo Alto’s Jazz Pharmaceuticals rose by more than a third in after hours trading Wednesday after the company reported positive results from the second of its Phase III clinical trials of sodium oxybate, a treatment for the chronic illness known as fibromyalgia known for the widespread pain and chronic fatigue it induces. The drug is being developed jointly with Read the rest of this entry »
Facet Biotech of Redwood City notified the SEC Tuesday that one of its shareholders, Roderick Wong, who controls some 124,828 shares, plans to offer five of his own nominees to be elected to the company’s board of directors, including himself.
The company said that its board and management, “are committed to Read the rest of this entry »
NeurogesX said Thursday that the European Medicines Agency’s committee for medicinal products for human use has recommended approval of Qutenza, the San Mateo biopharmaceutical’s treatment of peripheral neuropathic pain in non-diabetic adults.
The drug is delivered via Read the rest of this entry »
CV Therapeutics, the Palo Alto biopharmaceutical company fending off unsolicited overtures from Japan’s second largest drug company, reported today that its new oral compound CVT-3619, designed to treat cardiometabolic diseases, was “well tolerated “with no serious adverse events and was associated with a reduction of free fatty acids.”
The Phase 1, single-blind, placebo-controlled, single-ascending-dose study involved 55 healthy and 23 obese volunteers. “No clinically meaningful changes in Read the rest of this entry »
“Nektar”, the San Carlos drug developer, “is exceptionally well-positioned as we enter 2009,” said the company’s chief executive, Howard Robin, in an earnings release Tuesday.
Also well positioned is Robin himself, who the day before was given Read the rest of this entry »
The plug will be pulled early on a promotion deal Depomed, the Menlo Park drug developer, had with Watson Pharma for marketing Depomed’s extended-release formulation of ciprofloxacin for the treatment of uncomplicated urinary tract infections. The deal, which was to last until 2010, will end this year instead, on Dec. 31, and maybe sooner.
Watson had been given an exclusive right back in July 2007 to market the drug to doctors in urology and obstetrics/gynecology specialties in return for a promotion fee based on gross sales.
Have good news, will sell stock. That might be the logic behind a secondary offering of new shares by InterMune, the Brisbane biotechnology company whose stock price soared 28 percent to earlier this month after it said it would apply for approval in the Read the rest of this entry »
Alexza Pharmaceuticals announced the elimination fo 52 employees, or a third of its staff, last week the same day it reported the cancellation with Endo Pharmaceticals of a joint development agreement for Alexza’s AZ-300 drug candidate designed to treat abnormal flare-ups of pain in addition to the chronic pain suffered by cancer patients and others.
Endo originally paid Alexza a $10 million Read the rest of this entry »
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