Wednesday, August 24, 2016
Biomedical Systems, a 40-year-old, family-owned, clinical trial provider to pharmaceutical, medical device, biotech and CROs, has announced a new partnership with digital health company Foundry Health of Chicago. The two companies will collaborate on the development of a proprietary cloud-based data management system that will allow sponsors immediate access to clinical trial data in real time.
Casebia Therapeutics, the joint venture founded by Bayer and CRISPR Therapeutics, started its operations in Cambridge, Massachusetts. In December, 2015 Bayer and CRISPR Therapeutics agreed to create a joint venture to discover, develop and commercialize new breakthrough therapeutics to cure blood disorders, blindness and congenital heart disease. The two parties formally closed the transaction in the first quarter of 2016.
DS Biopharma (DS), a privately held drug discovery and development company with industry-leading expertise in lipid science, launched Afimmune, a spin-out company focused solely on fibrotic conditions such as non-alcoholic steatohepatitis (NASH) and pulmonary disorders such as chronic obstructive pulmonary disease (COPD) and Idiopathic pulmonary fibrosis (IPF).
Pfizer and Medivation have entered into a definitive merger agreement under which Pfizer will acquire Medivation, a biopharmaceutical company focused on developing and commercializing small molecules for oncology, for $81.50 a share in cash for a total enterprise value of approximately $14 billion.
Cerulean Pharma, a clinical-stage company developing nanoparticle-drug conjugates (NDCs), is reducing its workforce by approximately 48%, to a total of 23 full-time equivalent employees, under a plan expected to be substantially completed by the end of 2016. This workforce reduction is designed to reduce operating expenses while the company refocuses its clinical strategy for CRLX101. Affected employees are being offered severance and outplacement assistance.
By Craig Morgan, brand development director at goBalto Inc.
By 2020 72% of clinical trials are anticipated to be outsourced, up from just 23% in 2012. Sponsors are seeking cost reductions, access to specialized knowledge, and increased speed and agility. Meanwhile, CROs focus is on business goals related to economic outcomes for their owners, investors and shareholders. Each group is expecting deliverables and timelines to be met or exceeded for potentially different business reasons, leading to a traditional client/vendor-type relationship. Though alliances and partnerships are increasing, there continues to be a client/vendor mentality at the operational and management levels, which perpetuates a lack of trust and empowerment.
The Board of the New Jersey Economic Development Authority (EDA) has approved Grow New Jersey (Grow NJ) tax credits to encourage the global pharmaceutical company Allergan, the U.S. subsidiary of Ireland-based Allergan, to remain in New Jersey and combine four existing company locations into a 431,495-square-foot facility in Madison.
ProNAi Therapeutics, a drug development company focused on advancing targeted therapeutics for the treatment of patients with cancer, has reported in its financial and operational results for the second quarter of 2016 that it is shuttering a research facility.
Mallinckrodt, a global specialty pharmaceutical company, has entered into a merger agreement with Stratatech, a privately held regenerative medicine company focused on the development of unique, proprietary skin substitute products. Developmental products include StrataGraft regenerative skin tissue and a technology platform for genetically enhanced skin tissues. Financial terms of the transaction were not disclosed.