Drug Sponsors

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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Kubota Pharmaceutical, SBI Holdings to form joint venture

Monday, January 2, 2017

Kubota Pharmaceutical, a clinical-stage ophthalmology company committed to translating innovation into a diverse portfolio of drugs and devices to preserve and restore vision for millions of people worldwide, and SBI Holdings, Inc. (SBI), a financial services and asset management company based in Japan, announced the signing of a non-binding letter of intent (LOI) to establish a joint venture that will organize and manage special purpose entities to finance the development of ophthalmic drugs and devices. The LOI contemplates that the joint venture will be funded 51% by Kubota Pharma and 49% by SBI. Kubota Pharma and SBI have entered negotiations for a definitive joint venture agreement.

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Capnia, Essentialis merge to create rare disease therapeutics company

Monday, January 2, 2017

Capnia and privately held Essentialis have announced their entry into a definitive merger agreement to create a rare disease therapeutics company. The combined company will be well-positioned to advance diazoxide choline controlled release tablet (DCCR), a once-daily oral tablet for the treatment of patients with Prader-Willi syndrome (PWS). PWS is a rare complex genetic neurobehavioral/metabolic disease. The clinical features of the disease include hyperphagia (unrelenting hunger), as well as metabolic, endocrine, cognitive and behavioral complications resulting in significant morbidity and premature death.

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