Drug Sponsors

Johnson & Johnson Innovation, New York Genome Center to launch JLABS

Wednesday, January 11, 2017

Johnson & Johnson Innovation, New York State and the New York Genome Center have announced a collaboration to launch a new JLABS in New York City. Called JLABS @ NYC, the 30,000-square foot facility will be located at the New York Genome Center (NYGC) in SoHo and will open in 2018. The project is receiving $17 million in New York State funding. The site will be open to biotech, pharmaceutical, medical device and consumer health companies. A QuickFire Challenge seeking companies working in these areas, particularly startups working on cross-sector solutions to prevent, intercept or cure diseases, will be launched by Johnson & Johnson Innovation, with the winner(s) eligible for one year of residency at JLABS @ NYC.

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ProNAi re-launched as Sierra Oncology

Tuesday, January 10, 2017

ProNAi Therapeutics, a clinical-stage drug development company advancing targeted therapeutics for the treatment of patients with cancer, has changed its corporate name to Sierra Oncology and that its shares will trade on the NASDAQ under the symbol SRRA. The company’s new name reflects its evolution into an oncology focused company advancing an emerging pipeline of promising therapies that target the DNA Damage Response (DDR) network.

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Kite Pharma, Fosun Pharma establish joint venture in China

Tuesday, January 10, 2017

Kite Pharma and Shanghai Fosun Pharmaceutical have announced a joint venture, Fosun Pharma Kite Biotechnology (company name subject to the approval of relevant registration authorities) to develop, manufacture and commercialize axicabtagene ciloleucel in China with the option to include additional products, including two T cell receptor (TCR) product candidates from Kite. Axicabtagene ciloleucel (KTE-C19), Kite’s lead product candidate, is an investigational chimeric antigen receptor (CAR) T-cell therapy under development for the treatment of B-cell lymphomas and leukemias.

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Mast Therapeutics, Savara to merge

Monday, January 9, 2017

Mast Therapeutics and Savara, a privately held emerging specialty pharmaceutical company focused on the treatment of rare respiratory diseases, have entered into a definitive merger agreement under which the stockholders of Savara would become the majority owners of Mast, and the operations of Mast and Savara would be combined. Subject to stockholder approval, the combined company will advance a pipeline of novel inhalation therapies for the treatment of diseases with significant unmet medical needs, featuring three product candidates, each in advanced clinical development.  

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Takeda to acquire ARIAD Pharmaceuticals

Monday, January 9, 2017

Takeda Pharmaceutical and ARIAD Pharmaceuticals have entered into a definitive agreement under which Takeda will acquire all of the outstanding shares in ARIAD for $24 per share in cash, or an enterprise value of approximately $5.2 billion. The transaction has been approved unanimously by the boards of directors of both companies, and is expected to close by the end of February 2017, subject to required regulatory approvals and other customary closing conditions. Sarissa Capital, the holder of 6.6% of ARIAD’s common shares, as well as each of the members of ARIAD’s board of directors have agreed to tender their shares to Takeda pursuant to the offer.

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Dynavax restructures to focus on immuno-oncology program

Friday, January 6, 2017

Dynavax Technologies, a clinical-stage biopharmaceutical company, is reshaping its strategy and operations to prioritize its emerging clinical and preclinical immuno-oncology portfolio. The company has implemented significant organizational restructuring and cost reductions to align around its immuno-oncology business, while allowing it to advance HEPLISAV-B [Hepatitis B Vaccine, Recombinant (Adjuvanted)], its investigational hepatitis B vaccine candidate, through the FDA review process and an approval decision. Dynavax continues to believe that HEPLISAV-B is an approvable product and plans to submit its response to the FDA’s outstanding questions shortly.

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Hemostemix reorganizes, to appoint new board

Tuesday, January 3, 2017

Hemostemix announces the execution of a management contractor agreement with Drive Capital. Drive will oversee and manage all aspects of a corporate reorganization of Hemostemix, including the appointment of a new Board of Directors and management team. Drive shall report directly to the new Board and will assist with the implementation of all corporate actions deemed necessary to ensure the financial sustainability of Hemostemix. The agreement has a term of two years and Drive will be compensated based on 15% of the total operating expenses over the term of the agreement and options to acquire common shares in the capital of the issuer to be granted from time to time in an amount equivalent to 7% of the client’s total issued and outstanding Shares.

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