Tag: biotechnology
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European Patent Issued for Rare Liver Disease Drug
18 February 2015. Synageva BioPharma Corp., a biopharmaceutical company developing therapies for rare diseases, received a European patent on its treatment for lysosomal acid lipase deficiency, an inherited disease causing severe disruptions and injuries to the liver. The European Patent Office issued patent number EP2613798 B1 on 11 February to inventor Anthony Quinn, Synageva’s chief…
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Intrexon Acquires Biopharm Company for $60M
13 February 2015. Intrexon Corp., a biotechnology company in Gaithersburg, Maryland specializing in synthetic biology, is acquiring ActoGeniX, developing biologic therapies from engineered microbes. Under the deal, stockholders of ActoGeniX, based in Ghent, Belgium, are receiving $30 million in cash plus another $30 million in Intrexon stock. ActoGeniX develops therapies from engineered microbes, particularly Lactococcus…
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Genzyme Licensing Gene Therapies from Biotech Start-Up
11 February 2015. Voyager Therapeutics, a designer of gene therapies for central nervous system diseases, is licensing some of its treatments now in development to Genzyme Corp., a biotechnology subsidiary of the drug maker Sanofi. The deal is expected to bring the one year-old spin-off from four university research labs as much as $845 million.…
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Biotech, Hospira to Partner on Biosimilar for Eye Disease
10 February 2015. Pfenex Inc., a biotechnology company in San Diego, is licensing its lead product to treat age-related macular degeneration to biologic therapy maker Hospira. The deal can bring Pfenex as much as $342 million, plus royalties on sales of products from the collaboration, over at least the next five years. Age-related macular degeneration is…
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Report: U.S. Edge in Advanced Industries Slipping
5 February 2015. A new report from Brookings Institution says the United States is losing ground to overseas competitors in critical advanced industries that hold the key to the country’s long-term economic future. The study by the Washington, D.C. think tank was discussed in a forum today with six CEOs of U.S. companies and the…
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Biochemistry Spin-Off Formed, Gains $45M Funding
4 February 2015. Revolution Medicines Inc., a spin-off enterprise based on research in protein chemistry at University of Illinois, is starting up with $45 million in first-round venture funds. The company is founded by Illinois biochemistry professor Martin Burke, and initially financed by Third Rock Ventures, a San Francisco venture capital firm. Burke’s lab in…
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Biosimilar Shown Effective for Rheumatoid Arthritis
4 February 2015. A biologic therapy for rheumatoid arthritis was shown to work as well as an approved name-brand biologic treatment in a late-stage clinical trial, according to findings released by biotechnology company Amgen. The study found Amgen’s biologic code-named ABP501 performed as well as adalimumab, marketed as Humira by AbbVie, in relieving symptoms of…
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Neuro Disease Biotech Raises $20M in Early Funds
3 February 2015. Lysosomal Therapeutics Inc., a biotechnology company developing treatments for inherited neurodegenerative disorders, raised $20 million in its first venture funding round. The Cambridge, Massachusetts enterprise, begun last year, is backed by several venture capital funds and pharmaceutical companies. Lysosomal Therapeutics is based on the research of Dimitri Krainc, a neurologist now at Northwestern…
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Lung Cancer Antibody Given FDA Breakthrough Tag
2 February 2015. An experimental engineered antibody for treating lung cancer received a breakthrough designation from the U.S. Food and Drug Administration. Genentech, a biotechnology subsidiary of drug maker Roche, says breakthrough status was granted for its cancer immunotherapy code-named MPDL3280A to treat programmed death-ligand 1 or PD-L1 positive non-small cell lung cancer whose disease…
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Gene Therapy Biotech Raises $161M in IPO
30 January 2015. Spark Therapeutics Inc., a biotechnology company in Philadelphia, is raising $161 million in its initial public stock offering. The company, developing genetic therapies for inherited diseases, priced 7 million shares of its common stock at $23.00 a share. The stock trades on the NASDAQ exchange under the symbol ONCE, and as of…