|Filed Under:||Industries / Medical|
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|Archived Since:||February 24, 2011|
The startup, headed by Forbes 30 Under 30 list alumni Nat Turner, is going to get a lot more resources to devote to its mission of shaking up how clinical trials are conducted.
Celularity, a company spun out of biotech giant Celgene, announced this morning it has raised $250 million with the aim of developing cells from placentas to attack tumors and to treat Crohn’s disease. In addition to being awash in cash, the company is flooded with big dreams.
Bristol-Myers Squibb says it will pay a record $1.85 billion to Nektar Therapeutics, a small biotech startup, for rights to its experimental cancer drug, codenamed NKTR-214. Nektar will book 65% of global profits on the drug, should it reach the market, with Bristol getting the other 35%.
David Mitchell, 67, says he’s sure that Novartis’ Kymriah is a breakthrough medicine, and that he will need a similar medicine to treat his own blood cancer. He’s sure of something else, too: Novartis is charging too much.
"I recognize the fact that these are limited numbers [of animals], and in fact that studies were not designed to evaluate safety," Wilson says. "But the fact is, we observed the toxicity with that limited number, which is, from my point of view, even more worrisome."
Bristol had what it said was some good news this morning. But investors were left with more questions than answers.
Moderna Therapeutics, a biotechnology firm that is developing drugs that work on a genetic messaging system that is essentially to all living cells, has raised $500 million from a group of new and current investors.
Vertex Pharmaceuticals has picked two cystic fibrosis drugs to test in combination with its existing CF medicine, Kalydeco, as part of two different three-drug combinations aimed at helping as many as 90% of patients with cystic fibrosis. (Vertex's current offerings can treat half.)
"We're not buying aggressively," says Olivier Brandicourt, who took over as Sanofi's chief executive in 2015. "We have exactly the same financial discipline we had initially."
TMunity says it is raising $100 million from investors including Sean Parker's Parker Institute for Cancer Immunotherapy, drug giant Gilead Sciences and Ping An Ventures, the venture arm of China's largest insurance company.
New York City's government is today asking for proposals on how to use $100 million in funds and city land to create a "life sciences hub" with the goal of making the city competitive with Boston and San Francisco as a place to start biotechnology companies.
The non-profit Institute for Clinical Evaluation and Review (ICER) says that undisputed breakthrough should cost $400,000 at most, and perhaps $200,000. At that price, would it even exist?
Inventors, investors and fundraisers from the pharmaceutical industry arrived at the annual J.P. Morgan Healthcare Conference, their annual kickoff party, with lots of questions. They're probably leaving with them, too.
The winner? They weren't even there. The loser was Axovant.
Illumina, the dominant maker of DNA sequencers that are used in drug discovery, medicine, and biological research, is unveiling a new toy: A $19,900, one-cubic-foot box that puts DNA sequencing in the reach of many more scientists.
Gates is giving executives, bankers and investors at the year's biggest healthcare industry gathering an assignment list for improving the world, and an offer to help them do so.
The Impact deal is a window into two big potential shifts. Good: increasing power for the people who invent drugs, compared to those who raise money for them. Bad: innovation in the pharmaceutical industry is increasingly resulting in lots of me-too competition
In one of the largest efforts to create human genetic data, a consortium of pharmaceutical companies led by the Tarrytown, N.Y.-based firm Regeneron Pharmaceuticals will sequence the genes of 500,000 volunteers from the United Kingd...
A new drug, Luxturna, literally allows blind people to see. It does it by using a virus to insert new genes into patients’ eyes. This morning, Luxturna’s maker, Spark Therapeutics, is announcing the cost of this medical miracle: $425,000 per eye, or $850,000 a year.
The world looks different through a stock screen. It’s certainly true when it comes to healthcare stocks.