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1. Verenium and BP extend cellulosic ethanol venture to April |
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Verenium and BP will extend to April 1 their 18-month-old cellulosic ethanol joint-development venture. The companies will continue working on commercializing cellulosic technology while they negotiate for a longer-term deal. (3/1)
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2. Celsion will begin Phase II trial of ThermoDox later this year |
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A Phase II trial of liver cancer treatment ThermoDox will kick off worldwide in the second half of this year, biotech firm Celsion announced. New York's Albert Einstein College of Medicine will participate in the randomized study, which will focus on the efficacy of ThermoDox in treating liver cancer and tumors when combined with radiofrequency therapy. (3/1)
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3. Astellas sues OSI after latter rejects $3.5 billion takeover bid |
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Astellas Pharma offered to purchase OSI Pharmaceuticals for $3.5 billion, but the drugmaker rejected the bid, saying it "very significantly undervalues the company." Astellas, in turn, sued OSI, saying the latter's board was not acting in the best interest of shareholders. (3/1)
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4. Scientists use compound to attack prostate cancer cells |
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Australian researchers reported that they were able to target prostate cancer cells by using a drug that specifically triggers the prostate's beta estrogen receptor cells. They said activating the estrogen cells appears to induce a small cluster of treatment-resistant cells in prostate tumors to undergo cell death. (3/1)
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5. Baxter plans to acquire ApaTech for as much as $330 million |
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Baxter International said it will buy ApaTech, a U.K. firm that uses biochemistry to manufacture orthobiologic products, for as much as $330 million. The transaction, which is expected to conclude this quarter, will give Baxter access to ApaTech's Actifuse bone-graft product as well as production and research facilities in the U.S., the U.K. and Germany. (3/1)
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6. Ariad's blood cancer drug gains FDA orphan-drug status |
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The FDA granted orphan-drug designation to Ariad Pharmaceuticals' candidate for chronic myeloid leukemia and Philadelphia chromosome-positive acute lymphoblastic leukemia. Ariad's AP24534 is undergoing an early-stage clinical trial. (3/1)
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7. FDA panel recommends approval of transplant drug belatacept |
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An FDA panel voted 13-5 to endorse the approval of Bristol-Myers Squibb's belatacept for use in preventing kidney transplant rejection and maintaining organ function in end-stage renal disease. However, advisers recommended that the company establish a patient registry and conduct follow-up studies for at least three years to track the drug's long-term effects. (3/1)
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