Drug Sponsors

Biogen to cut 11% of jobs

Thursday, October 22, 2015

Cambridge, Mass.-based Biogen has announced a corporate restructuring that includes the termination of a number of pipeline programs and an 11% reduction in workforce. The changes are expected to reduce the current annual run rate of operating expenses by about $250 million. The company plans to reinvest the savings to support key commercial initiatives, including increased sales and marketing activities behind TECFIDERA, and the advancement of high-potential pipeline candidates in areas such as Alzheimer’s disease, multiple sclerosis and spinal muscular atrophy.

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Thermal Gradient moving to Virginia

Wednesday, October 21, 2015

Thermal Gradient, a developer of devices and systems for rapid molecular diagnostics, has chosen to relocate its operations from Rochester, N.Y., to the Richmond Region in Virginia. The molecular diagnostics solutions company recently leased a 10,000-square-foot-building to become a resident business in the Virginia Biotechnology Research Park in Richmond.

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BioXcel, Pronutria ink data partnership

Wednesday, October 21, 2015

BioXcel, a Branford, Conn.-based global provider of cloud-based big data platforms, has partnered with Cambridge, Mass.-based Pronutria Biosciences to identify diseases characterized by high unmet need for therapies and nutritional products that are amenable to Pronutria’s novel technology platform. Pronutria is a biotechnology company pioneering a new class of products to mediate amino acid biology.

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Daiichi Sankyo cuts 1,200 jobs

Monday, October 19, 2015

Daiichi Sankyo, based in Parsippany, N.J., will reorganize its U.S. commercial organization as it begins to transition from a maturing primary care product portfolio to a differentiated specialty portfolio that will include areas such as cardiovascular, pain management and oncology.

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Adheron Therapeutics is acquired by Roche

Monday, October 12, 2015

Adheron Therapeutics has been acquired by Roche. Adheron is a privately held biotechnology company developing SDP051, a product that disrupts cell adhesion which can potentially be used to treat inflammatory and autoimmune diseases such as rheumatoid arthritis and fibrotic disease. SDP051 was fully humanized using Abzena’s Composite Human Antibody technology.

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Baxter, Harvard launch Opsonix

Friday, October 9, 2015

Cambridge, Mass.-based Opsonix has launched with an $8 million Series A financing to develop a pathogen-extracting therapy designed to remove infectious pathogens and toxins from circulating blood.

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Verastem reduces workforce by 50%

Friday, October 9, 2015

Needham, Mass.-based Verastem, which is focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells, has announced a reduction of its workforce by about 50% to 20 full-time employees.

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Cancer Genetics gets approval to buy Response Genetics

Thursday, October 8, 2015

Cancer Genetics, a DNA-based cancer diagnostics provider, has received approval from the U.S. bankruptcy court in Delaware to purchase substantially all of the assets of Los Angeles-based Response Genetics Inc. (RGI), a CLIA-certified clinical laboratory focused on the development and sale of molecular diagnostic testing services for cancer. CGI also agreed to assume some of RGI’s liabilities. The sale is subject to certain customary closing conditions and is expected to close by Oct. 9.

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