Thursday, February 4, 2016
Cancer Research Technology (CRT), the development and commercialization arm of Cancer Research U.K., has entered into a license agreement with MSD, known as Merck in the U.S. and Canada, to develop inhibitors of protein arginine methyltransferase 5 (PRMT5). These new drugs, which potentially have clinical applications in both cancer and non-cancer blood disorders, have been developed by the Australian Cooperative Research Center (CRC) for Cancer Therapeutics (CTx) with support from the Wellcome Trust and CRT.
A collaboration of companies was formed to provide a world-class outsourcing solution for the pharmaceutical, biotech, and medical device industries that is both cost-effective and operationally efficient.
Codiak BioSciences Inc., a leading company in the field of exosome biology, announced the closing of its $61 million Series B round, bringing total investment in its combined Series A and B financing, announced in November 2015, to $92 million. Codiak intends to use the proceeds of this round primarily to advance research and clinical development of exosomes for therapeutic and diagnostic purposes.
While drug developers during the coming year will continue their efforts to meet the growing demand for innovative new medicines, they also must significantly scale up their level of process improvements if they are to reduce the time and cost required to bring new drugs to market, according to the Tufts Center for the Study of Drug Development (CSDD).