Drug Sponsors

Report: Slowest quarter for venture-backed IPOs since 2011

Tuesday, April 5, 2016

Six venture-backed initial public offerings (IPOs) raised $574.5 million in the first quarter of 2016, according to the Exit Poll Report by Thomson Reuters and the National Venture Capital Association (NVCA). This marks the slowest quarter for venture-backed IPOs since the third quarter of 2011. By merger and acquisition (M&A), 79 venture-backed M&A deals were reported in the first quarter, 20 of which reported an aggregate deal value of $4.8 billion.   

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PTC Therapeutics cuts workforce 18%

Thursday, March 24, 2016

PTC Therapeutics is reducing its workforce by approximately 18%, which will primarily affect employees and contractors in the U.S. This reduction is part of PTC’s program intended to optimally manage operating expenses following its recent setback related to the Refuse to File letter received from the FDA for Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD). 

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Paul G. Allen Frontiers Group to launch for ‘out-of-the-box’ research

Thursday, March 24, 2016

Philanthropist and entrepreneur Paul G. Allen has announced an initial commitment of $100 million to create The Paul G. Allen Frontiers Group, whose purpose will be to explore the landscape of bioscience and fund ideas at the frontier of knowledge to advance science and make the world better. As part of the launch, the Frontiers Group announces its first cohort of funded projects with four new Allen Distinguished Investigators (ADI) and two Allen Discovery Centers in partnership with Stanford University and Tufts University.

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Placon Therapeutics launches, BTP-114 IND accepted by FDA

Wednesday, March 23, 2016

Placon Therapeutics, a biotechnology company developing next-generation platinum-based cancer therapies, has launched as an independent company and provided an update on its lead product candidate, BTP-114, for which the FDA has accepted an Investigational New Drug (IND) application to begin clinical evaluation in cancer patients. Placon was spun out from Blend Therapeutics (now Tarveda Therapeutics) to distinctly focus on a pipeline of innovative platinum-based assets.

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