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Genfit Restructuring Cuts Staff by 40%, Creates Two New Subsidiaries

Posted by |2020-09-30T15:53:19-07:00September 30th, 2020|

Genfit is halting all work on its lead drug in the fatty liver disorder nonalcoholic steatohepatitis (NASH) and implementing a corporate restructuring that will cut 40 percent of its staff, splitting the remaining workforce into two distinct business units. The announcement after the market close on Wednesday follows the May failure of the drug, elafibrinor, […]

Orphazyme Stock Sale Reaps $83M as Neimann-Pick Drug Review Begins

Posted by |2020-09-29T06:50:29-07:00September 29th, 2020|

Orphazyme has fresh cash from the sale of shares in the US and Europe, which will support its lead rare disease drug through regulatory review and, if approved, a launch. But the drug fell short in key clinical trial measures, raising questions about its approvability. Now the FDA wants additional data, potentially throwing a wrench […]

Praxis Precision Medicines Leads Way as Three More Biotechs Prep IPOs

Posted by |2020-09-28T13:34:40-07:00September 28th, 2020|

Praxis Precision Medicines kept mostly quiet about its research on central nervous system disorder (CNS) drugs until May, when it emerged from stealth and revealed $100 million in cumulative financing. Now the company is aiming to raise about that amount in an IPO that will fund clinical development of its drug pipeline. Cambridge, MA-based Praxis […]

Galecto Picks Up $64M as Plans for Fibrosis Clinical Trials Move Forward

Posted by |2020-09-28T03:30:07-07:00September 25th, 2020|

Had things turned out differently, scientists at Galecto might be watching their idiopathic pulmonary fibrosis drug candidate develop in the hands of a big pharmaceutical company. But Bristol Myers Squibb passed on its option to acquire Galecto leaving the biotech to forge ahead on its own. Now the company has $64 million to advance clinical […]

Monte Rosa Raises $96M for “Glue-Based” Protein Degrading Drugs

Posted by |2020-09-24T10:49:10-07:00September 24th, 2020|

Many drugs work by binding to a protein and blocking it. Technology for eliminating disease-causing proteins altogether remains experimental, but this approach has gained ground in the past year with hundreds of millions of dollars raised and compounds advanced into clinical testing. Monte Rosa is one of the newer companies in this “protein degradation” space […]

Libra Strikes a Balance With Approach to ALS and Other Neuro Disorders

Posted by |2020-09-23T15:13:11-07:00September 23rd, 2020|

Amyotrophic lateral sclerosis (ALS) has no cure and few available treatments but the past decade has revealed new knowledge about the pathology of the disease. Libra Therapeutics is turning that research into potential therapies, and it now has $29 million to advance its work. While the exact causes of many neurological disorders are unknown, Libra […]

Gene Therapy Firms Seek Clarity on FDA Exclusivity, Orphan Designations

Posted by |2020-09-22T05:00:16-07:00September 22nd, 2020|

Gene therapy product developers are seeking more clarity from the US Food and Drug Administration on when viral vectors from the same class will be considered sufficiently different for purposes of awarding orphan drug designation or exclusivity. In addition, stakeholders want the FDA to better define, and provide examples of, the types of minor differences […]

Xconomy Awards On-Demand ‘Meet the Finalists’ Webcast Series Continues This Week

Posted by |2020-09-21T06:28:40-07:00September 21st, 2020|

The 2020 National Xconomy Awards complimentary two-week, 11-part, on-demand Meet the Finalists daily webcast series continues this Tuesday and Wednesday at 11 a.m. ET. Registration is complimentary and includes access to a networking app with already more than 600 life science contacts. The daily series leads up to the Thursday, Sept. 24 free online National Xconomy Awards […]

Bio Roundup: SeaGen Scores, Dyne’s Debut, Microbiome Moves & More

Posted by |2020-09-21T03:30:07-07:00September 18th, 2020|

Gilead Sciences CEO Daniel O’Day has spoken openly about acquisitions as a way to build up the company’s drug pipeline. This week, it made its biggest buy yet. The $21 billion Immunomedics acquisition brings to Gilead a cancer drug that many analysts project will become a blockbuster seller. Some of those analysts think Gilead might […]

Dyne’s Upsized IPO Brings In $233M for Muscle Disorders Drug R&D

Posted by |2020-09-17T08:56:41-07:00September 17th, 2020|

Dyne Therapeutics, a company developing genetic medicines for rare muscular disorders, has raised $233 million in an IPO that topped the preclinical-stage biotech’s projections. Late Wednesday, Dyne priced its offering of about 12.3 million shares at $19 each. The Waltham, MA-based biotech had previously planned to sell 10.3 million shares in the range of $16 […]

Arrowhead Pharma Shares Soar on Early Liver Data for RNAi Drug

Posted by |2020-09-16T09:39:41-07:00September 16th, 2020|

An Arrowhead Pharmaceuticals drug for a rare liver disease now has early Phase 2 results and the data so far look good. Not only did the therapy reduce levels of a mutant protein associated with the disorder, but patients also showed improvements in several biological measures of liver injury. The results are for just four […]

Neogene Therapeutics Grabs $110M to Tackle Solid Tumors With Cell Therapy

Posted by |2020-09-15T15:02:03-07:00September 15th, 2020|

Cell therapy offers another option for addressing the most difficult blood cancer cases, but such treatments, which are engineered from a patient’s own immune cells, don’t yet work on solid tumors. Neogene Therapeutics is developing technology with the potential to bring cell therapies to solid tumors and it now has $110 million to advance its […]
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