Monday, July 22, 2013

Biotech industry raised $1.3B in Q2 venture funding

Report: Biotech industry raised $1.3B in Q2 venture funding | Bipartisan bill would give FDA user fees sequester reprieve | FDA gives fast-track status to chronic pain drug from Adynxx
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July 22, 2013
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Report: Biotech industry raised $1.3B in Q2 venture funding
Biotechnology companies secured $1.3 billion in venture capital investments during the second quarter of 2013, a 41% increase compared with the previous quarter, according to a new MoneyTree Report. The number of biotech-related deals grew 4%, to 103. "Life sciences investment is poised for a slow and steady recovery, provided we can continue to see progress on the regulatory front," National Venture Capital Association President Mark Heesen said. American City Business Journals/San Francisco/BiotechSF blog (7/19)
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Health Care & Policy
Bipartisan bill would give FDA user fees sequester reprieve
FDA user fees for drugs and medical devices would be exempted from sequestration cuts under a bipartisan bill introduced in the House of Representatives on Thursday. "If the intent of sequestration is to limit public spending, withholding private monies is counterintuitive. It discourages investment in medical innovation and denies patients access to timely therapies," co-sponsor Rep. Anna Eshoo, D-Calif., said. Bloomberg Businessweek (7/18), The Wall Street Journal (tiered subscription model)/Washington Wire blog (7/18), The Hill/Healthwatch blog (7/18)
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FDA gives fast-track status to chronic pain drug from Adynxx
Adynxx's AYX1 injection for chronic pain prevention has received fast-track designation from the FDA. The drug is in a midstage trial designed to evaluate its safety and efficacy in reducing or preventing postsurgical pain in patients undergoing unilateral total knee arthroplasty. Pharmaceutical Business Review Online (7/19)
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EU grants orphan status to OXiGENE's ovarian cancer drug
OXiGENE's experimental ovarian cancer drug Zybrestat obtained orphan-drug designation from the European Medicines Agency. The drug, in combination with Roche Holding's Avastin, is in a midstage study for patients with advanced ovarian cancer. Data from the trial could be released next year. The Wall Street Journal (tiered subscription model)/Dow Jones Newswires (7/18), RTT News (7/19)
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Ensemble, Alexion sign rare-disease drug collaboration
Ensemble Therapeutics and a unit of Alexion Pharmaceuticals agreed to collaborate in the discovery and development of drugs for ultrarare diseases using the former's drug-discovery technologies and the Ensemblin macrocycles collection. Alexion will get the rights to develop and market drugs arising from the partnership. Ensemble is eligible to receive an upfront fee, research funding and milestone payments. Xconomy/Boston (7/18), Genetic Engineering & Biotechnology News (7/18)
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Researchers use 7 compounds to make stem cells
A team of scientists was able to create induced pluripotent stem cells without altering the number of genes or risking mutations. The method uses seven small-molecule chemical compounds including DZNep, an inhibitor that reactivates developmental genes, to reprogram somatic cells to a pluripotent state. The researchers reported in the journal Science that they were able to create fully reprogrammed stem cells, which they called CiPS cells, and produce a conversion rate of 0.2%, which was comparable to conventional techniques for iPS cells. Nature (free content) (7/18)
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Company & Financial News
PSivida brings in $10.8M from stock sale
Watertown, Mass.-based biotech pSivida secured $10.8 million from a public stock offering. According to an SEC filing, the money will support further clinical development of Iluvien, an experimental drug for posterior uveitis, and fund pSivida's other research and development programs. American City Business Journals/Boston/bioflash blog/Mass High Tech (7/19)
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Funding round pulls in $1.5M for TB Biosciences
Bethlehem, Pa.-based TB Biosciences has obtained $1.5 million in Series A financing, which will go toward the company's product-development activities and clinical studies. The company is working on a point-of-care assay for diagnosing tuberculosis using proteins found in people with active TB. GenomeWeb Daily News (free registration) (7/18)
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The Latest From BIO ...
Register today for the BIO Investor Forum, Oct. 8-9, in San Francisco
Attend the BIO Investor Forum, Oct. 8-9, 2013 in San Francisco. The BIO Investor Forum is an international biotech investor conference focused on early and established private companies and on emerging public companies. Register today.
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Food & Agriculture
U.S. researchers ID pathogen-resistant soybean genes
Researchers at Purdue University have identified two soybean genes that show strong resistance to Phytophthora sojae, a soilborne pathogen that causes Phytophthora root and stem rot. The discovery could lead to development of disease-resistant soybean cultivars. The team's findings were reported in the journal Theoretical and Applied Genetics. SoutheastFarmPress.com (7/19)
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Hot Topics
Industrial & Environmental
Partners sought by DuPont for cellulosic-ethanol venture
DuPont is in talks with firms in the U.S., China, Europe, Brazil and Southeast Asia about the possibility of making cellulosic ethanol under a partnership agreement, said Jan Koninckx, the company's global business director for biofuels. "DuPont would take a minority stake and ... we would basically take an active role in setting production up" in the ventures, Koninckx said. Nasdaq.com/Dow Jones Newswires (7/19)
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News from BIO
July 2013 BIO Therapeutic Newsletters
The BIO Emerging Companies Section Policy Team has compiled the latest news to keep you informed on the action in Washington with respect to the disease category on which your company is focused. Topics covered comprise: Allergy/Infectious Disease/Antiviral; Cardiology/Pulmonology/Blood; Nephrology/Endocrinology/Metabolism/Gastroenterology; Neurology/CNS; Oncology; and Rheumatology/Anesthesia/Inflammation/Pain. BIO has attempted to include updates from biotech stakeholders around Washington, including Congress, FDA, NIH and patient organizations. Access to our July 2013 Therapeutic Newsletters can be found here. Should you have any comments or questions, please contact Charles Crain.
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