Biotechnology industries
As the year begins, 34 startups announced fund raising worth $445.3 million, marking a continuation of the surge in funding that began late last year. Venture capitalists are optimistic about deploying the capital they held aside for the last few years, with January already showing a strong start, with
Biotechnology industries
Novacea Inc., a developer of cancer drugs, has secured a significant $35 million investment from Apax Partners, a leading private equity firm, to continue the development of its cancer treatment products. This latest funding round brings the company's total equity investment to $83 million, allowing Novacea to advance
Biotechnology industries
Masthead Venture Partners, a Cambridge, Mass.-based venture capital firm, has successfully closed its first fund with $160 million, setting the stage for a final closing target of up to $200 million. The fund will focus on investing in software and security firms developing products for corporations, as well as
Pharmaceutical industry
GlaxoSmithKline has announced the publication of results from a clinical trial evaluating Valtrex, an oral antiviral, in the reduction of transmission of genital herpes. The study, published in the New England Journal of Medicine, showed that Valtrex significantly reduced the risk of transmitting herpes infection to a heterosexual partner by
Pharmaceutical industry
PacifiCare Behavioral Health (PBH), a managed behavioral health care subsidiary of PacifiCare Health Systems, Inc., has named John J. "Jack" Dolan as regional sales executive for the Eastern Region. Dolan will be responsible for marketing to various groups, including Taft-Hartley, health plan, corporate, and government entities located east
Pharmaceutical industry
Amersham Pharmacia Biotech (APB) has formed an agreement with Riken and leading genetic researcher Yusuke Nakamura of Tokyo University to utilize the SNiPer SNP analysis system for studying genetic diversity in the Japanese population. The collaboration aims to analyze genetic differences that can impact response to drug treatments. Research staff
Pharmaceutical industry
Genzyme Corp., a biotechnology company, has announced plans to acquire GelTex Pharmaceuticals, Inc. for $187 million in a deal that would bring GelTex's portfolio of non-absorbed polymer drugs and therapeutic products under Genzyme's umbrella. The acquisition is expected to close in December or January, pending regulatory
Drugs
Lexicon Genetics, a leader in defining the functions of genes for drug discovery, has granted a non-exclusive sublicense to Eli Lilly and Company, allowing the latter to use certain aspects of Lexicon's gene-targeting technology in its internal drug discovery and target validation programs. This collaboration is the latest
Drugs
Synaptic Pharmaceutical Corp., a biotechnology company, has made a groundbreaking discovery of a gene and corresponding neuroreceptor that holds significant promise as a new drug target for treating depression. In cell-based and animal studies, the company's researchers have identified a G-protein-coupled receptor (GPCR) that shows potential in producing
Pharmaceutical industry
Creative BioMolecules, Inc. and two other companies, Ontogeny, Inc. and Reprogenesis, Inc., are merging to form Curis, Inc., a new player in the emerging field of regenerative medicine. Regenerative medicine aims to recreate conditions that support cell growth and tissue repair, treating the underlying causes of degenerative diseases by replacing
Pharmaceutical industry
Millennium Pharmaceuticals, a leading drug discovery and development company, has signed an agreement with Abgenix, Inc. to expand their relationship, granting Millennium access to Abgenix's XenoMouse technology for the creation of fully human antibodies. This agreement is a significant step in Millennium's efforts to build a
Drugs
MorphoSys AG, a leading developer of therapeutic monoclonal antibodies, and LeukoSite Inc., a biotechnology company focused on developing drugs for autoimmune and inflammatory diseases, have announced a two-year collaboration to discover and develop therapeutic monoclonal antibodies for inflammatory and autoimmune disorders. The partnership combines MorphoSys' technology for rapidly generating
