Spectrum Pharmaceuticals acquires U.S. biopharma for up to $206M Spectrum Pharmaceuticals agreed to pay $11.3 million in cash as well as contingent value rights worth up to $195 million to acquire Talon Therapeutics. The deal will give Spectrum access to Talon's leukemia drug Marqibo and menadione topical lotion, which is being developed as a treatment for skin toxicity related to epidermal growth factor receptor cancer drugs. The acquisition is expected to be completed today. NBC News/The Associated Press (7/17), RTT News (7/17) | Alzheimer's drug candidate wins fast-track designation from FDA The FDA granted fast-track status to Elan and Transition Therapeutics' ELND005, an experimental drug designed to reduce neuropsychiatric symptoms in patients with moderate to severe Alzheimer's disease. ELND005 is under evaluation for multiple neuropsychiatric indications "on the basis of its proposed dual mechanism of action, which includes β-amyloid anti-aggregation and regulation of brain myo-inositol levels," Elan said. Fox Business (7/17), Reuters (7/17) House holds hearing on oversight of large compounders Lawmakers appeared reluctant to tighten federal oversight of large-scale drug compounders at a hearing Tuesday before the House Energy and Commerce Committee's Health subcommittee, saying the service that compounders offer is important to doctors treating patients who cannot tolerate or are nonresponsive to drugs from brand-name and generic-drug makers. Still, lawmakers indicated they don't want a repeat of a meningitis outbreak tied to a compounding pharmacy, and the Senate could vote on legislation this month while a bill is being drafted in the House. PhRMA and Public Citizen argued against the creation of a new regulatory class of drug compounders. MedPage Today (free registration) (7/17) Study uses magnets to steer stem cells in the body Magnets can be used to lead iron-oxide coated mesenchymal stem cells to particular points in the body, according to a study in the journal Small. Researchers used nanoparticles of iron oxide in a protective layer of polyethylene glycol and tested the cells in cultures and mice models. "Next, we plan to focus on therapeutic applications in animal models where we will use magnets to direct these cells to the precise site need to affect repair and regeneration of new blood vessels," researcher W. Robert Taylor said. MedicalDaily.com (7/16) | Monsanto halts new biotech applications in Europe Monsanto said it will take back all pending applications to grow new types of biotech crops in the European Union because of the lack of prospects for commercial growing. The firm will focus on expanding its traditional seed business and in seeking approvals to import biotech crops widely grown elsewhere. Reuters (7/17) | | Industrial & Environmental | | Register today for the BIO Investor Forum, Oct. 8-9, in San Francisco The BIO Investor Forum is an international biotech investor conference focused on early and established private companies as well as emerging public companies. The event features plenary sessions, business roundtables and therapeutic workshops, company presentations, and One-on-One partnering meetings. BIO is renowned for its successful business development, partnering and investor meetings in North America, Europe and Asia. Partnering at this conference will be powered by BIO One-on-One Partnering, an interactive environment to intelligently search, contact and schedule private meetings with potential partners and investors. Register today. |  | There is nothing which we receive with so much reluctance as advice." -- Joseph Addison, British essayist, poet, playwright and politician | | | The news summaries appearing in BIO SmartBrief are based on original information from news organizations and are produced by SmartBrief, Inc., an independent e-mail newsletter publisher. The information is not compiled or summarized by BIO. Questions and comments should be directed to SmartBrief at bio@smartbrief.com. | Please contact one of our specialists for advertising opportunities, editorial inquiries, job placements, or any other questions.
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