Drug Sponsors

Lilly closes two R&D centers, cuts 3,500 jobs

Friday, September 8, 2017

Eli Lilly announced actions to streamline operations to more efficiently focus resources on developing new medicines and to improve its cost structure. Global workforce reductions, including those from a U.S. voluntary early retirement program, are expected to impact approximately 3,500 positions.

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Merck to acquire Rigontec

Wednesday, September 6, 2017

Merck, known as MSD outside the U.S. and Canada, will acquire Rigontec. Rigontec is a pioneer in accessing the retinoic acid-inducible gene I (RIG-I) pathway, part of the innate immune system, as a novel and distinct approach in cancer immunotherapy to induce both immediate and long-term anti-tumor immunity. Rigontec’s lead candidate, RGT100, is currently in phase I development evaluating treatment in patients with various tumors. Under the terms of the agreement, Merck, through a subsidiary, will make an upfront cash payment of €115 million to Rigontec’s shareholders; based on the attainment of certain clinical, development, regulatory and commercial milestones, Merck may make additional contingent payments of up to €349 million. The transaction is subject to certain closing conditions.

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Illumina, Telegraph Hill Partners launch Verogen

Tuesday, August 29, 2017

Illumina announced plans with Telegraph Hill Partners (THP), a San Francisco-based venture capital and growth equity firm, to establish Verogen. The independent new company has certain exclusive rights to provide Illumina’s forensic sequencing technology to forensic customers, including for criminal casework and other human and nonhuman forensic applications. The creation of Verogen enables an unprecedented focus on accelerating growth of Illumina’s leading next-generation sequencing (NGS) technology in the forensic genomics market.

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Gilead Sciences to acquire Kite Pharma for $11.9B

Monday, August 28, 2017

Gilead Sciences and Kite Pharma announced that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Kite for $180.00 per share in cash. The transaction, which values Kite at approximately $11.9 billion, was unanimously approved by both the Gilead and Kite Boards of Directors and is anticipated to close in the fourth quarter of 2017. The transaction will provide opportunities for diversification of revenues, and is expected to be neutral to earnings by year three and accretive thereafter.

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CSL Behring to acquire Calimmune for $91M

Monday, August 28, 2017

Global biotherapeutics provider CSL Behring has agreed to acquire Calimmune, a biotechnology company focused on the development of ex vivo hematopoietic stem cell (HSC) gene therapy with R&D facilities in Pasadena, California, and Sydney, Australia, for an upfront payment of $91 million. 

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LifeNet Health to create 321 new jobs in Virginia

Friday, August 18, 2017

LifeNet Health, a global regenerative medicine company, has announced that it will invest $12.25 million to expand its global headquarters operation in the City of Virginia Beach. The non-profit will add a 100,000-square-foot warehouse, 20,000 square feet of office space, and an 18,000-square-foot R&D and production facility across three campuses. Virginia successfully competed against Florida, North Carolina, and Washington for the project, which will create 321 new jobs.

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Walgreens launches Center for Health & Wellbeing Research

Thursday, August 17, 2017

Walgreens announced the launch of its Center for Health & Wellbeing Research, a website that features more than 50 Walgreens outcomes studies completed over the past six years. Areas of research include access to care and patient experience, adherence and clinical outcomes, digital health and member engagement, health care costs, HIV and specialty pharmacy, vaccinations and more.

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Affinity Bio Partners launches Pennsylvania cannabis biotech company

Tuesday, August 15, 2017

Affinity Bio Partners CEO Christina DiArcangelo Puller announced that she is adding another organization to the Affinity family of organizations by launching Affinity BioCeuticals, a “first of its kind” Cannabis Biotech Pennsylvania corporation. Affinity BioCeuticals is a Neutraceutical company focused on research and development of cannabinoid based therapies. The emergence of more and more indications where cannabinoid based treatment may be impactful to patient’s lives will be the primary focus for Affinity BioCeuticals. 

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