At the request of the FDA, Pfizer Inc has suspended its clinical programme for tanezumab in chronic lower back pain and diabetic peripheral neuropathy. But studies will continue in areas of unmet medical need such as cancer pain.
Evotec AG is expanding its drug discovery platform with the acquisition of the privately-owned German biotechnology company, DeveloGen, which has projects underway to treat both Type 1 and Type 2 diabetes.
Novartis AG said that recently launched products accounted for 21% of its second quarter sales and will more than offset the anticipated loss of sales from products going off patent in the next few years.
A majority of members of a joint US Food and Drug Administration advisory panel voted on 14 July 2010 to recommend that GlaxoSmithKline’s diabetes drug, Avandia (rosiglitazone), be kept on the market but they expressed concerns about cardiovascular risk.
Silence Therapeutics Plc has announced a one-year extension of its three-year old research and development collaboration with AstraZeneca Plc aimed at identifying five siRNA molecules for respiratory and oncology indications.
BTC Plc expects to report data from a Phase 2a study of its oral multiple sclerosis treatment, Pleneva, in the first half of 2011. Meanwhile, it is making plans to take over US sales from Nycomed of two emergency care products in October, 2010.
A novel approach to antibody development has received the backing of the global medical charity, the Wellcome Trust. Kymab Ltd of Cambridge UK has received £20 million in a Series A round to develop its technology platform.
The technology transfer arm of the UK Medical Research Council has entered into an exclusive licensing agreement with Genentech Inc for access to a series of small molecule drug candidates for neurological disease. Financial terms were not given.
Merck Serono’s new small molecule drug for relapsing-remitting multiple sclerosis, which is an oral formulation of cladribine, has been approved for marketing in Russia, the first government agency to approve the oral disease-modifying therapy.
Carmat SAS has raised €15.5 million in an initial public offering on the Alternext section of the NYSE-Euronext exchange in Paris to continue development of an artificial heart for patients with heart failure.