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QB3 Lands More Big Pharma Muscle to Launch Startups
Podcast: June 3, 2013
The University of California’s QB3 has been at the forefront of finding innovative ways to work with industry to address the gap in funding translational research and take steps to ensure promising discoveries don’t languish in university labs. A recent series of agreements at QB3 highlight its continued efforts to do just that. We spoke to Doug Crawford, director of industry alliances and associate executive director of QB3, about the institute’s new agreements with Roche and Bayer, the development of additional incubator space to hatch new startups, and why QB3 has succeeded where others have stumbled. Read More Here
By The Numbers
|
Biggest movers for the week ending May 31, 2013
|
| TICKER |
COMPANY |
CLOSING PRICE 5/24/2013 |
CLOSING PRICE 5/31/2013
|
PRICE CHANGE |
PERCENT CHANGE |
|
| ADVANCERS |
| CLSN |
Celsion |
1.04 |
1.69 |
0.65 |
62.5% |
| AFFY |
Affymax |
1.39 |
2.08 |
0.69 |
49.6% |
| VRML |
Vermillion |
3.08 |
3.98 |
0.90 |
29.2% |
| BIOD |
Biodel |
3.71 |
4.68 |
0.97 |
26.1% |
| PRTX |
Protalex |
1.66 |
2.09 |
0.43 |
25.9% |
| DECLINERS |
| ABIO |
Arca Biopharma |
2.66 |
1.62 |
-1.045 |
-39.3% |
| KIPS |
Kips Bay Medical |
1.28 |
1.05 |
-0.23 |
-18.0% |
| AMAG |
Amag Pharmaceuticals |
22.25 |
18.51 |
-3.74 |
-16.8% |
| OXBT |
Oxygen Biotherapeutics |
4.48 |
3.73 |
-0.75 |
-16.7% |
| ZIOP |
Ziopharm Oncology |
2.62 |
2.22 |
-0.406 |
-15.5% |
| Includes life sciences stocks with closing price of $1 or more on May 24, 2013, |
Thermally Sensitive Drug Heats Celsion Stock
“Tapering” was the watchword of the week, since the Federal Reserve might reduce its purchases to buoy the economy in light of recent moderate economic stability. A sell-off late Friday for end-of-month profit taking added to minor losses for the week. Continued poor economic recoveries in Japan and Europe added to global financial concerns. For the week The Dow Jones Industrial Average was down 1.2 percent, the S&P 500 was down 1.1 percent, and the Nasdaq Composite was down 0.1 percent. Biotechs fared better than Big Pharma, with the former basically flat and the latter down 2.9 percent.
Celsion advanced 62.5 percent based on an announcement of upcoming research presentations at the June 2013 European Conference on Interventional Oncology. Conference president and lead European investigator for Celsion's late-stage trial of the company’s thermally sensitive doxorubicin, for treatment of liver cancer, said that clinical benefit in both progression-free survival and overall survival was encouraging. More than 30 million shares traded during the week, an historical high.
Arca Biopharma declined 39.3 percent following disclosure of the volume and pricing for a previously announced public stock offering. Arca will issue to investors approximately 125,000 shares of preferred stock together with warrants to purchase approximately 6.25 million shares of common stock. The company expects to gain approximately $18 million in net proceeds and intends to use the money to fund the mid-stage trial of its drug Gencaro for the prevention of atrial fibrillation in patients with heart failure and reduced left ventricular ejection fraction. The trial is a collaboration between Arca and Medtronic.
Ophthotech Raises $175 million for Eye Therapy
Pharma moves to acquire two companies, spin out a program, and issue debt.
New York City-based Ophthotech has raised $175 million to finance a late-stage global trial of its lead compound Fovista in combination with anti-VEGF therapy to treat neovascular age-related macular degeneration, or wet AMD. Read More Here
| BURRILL INDICES |
12/31/2012 |
5/24/2013 |
5/31/2013 |
Week Change |
Year Change |
| Burrill Select |
607.66 |
817.40 |
819.80 |
0.3% |
34.9% |
| Burrill Large Cap |
736.90 |
998.89 |
1010.91 |
1.2% |
37.2% |
| Burrill Mid-Cap |
309.52 |
392.72 |
402.22 |
2.4% |
29.9% |
| Burrill Small Cap |
105.48 |
122.13 |
127.05 |
4.0% |
20.4% |
| Burrill Diagnostics |
191.32 |
211.30 |
211.26 |
0.0% |
10.4% |
| Burrill Personalized Medicine |
119.22 |
151.30 |
149.91 |
-0.9% |
25.7% |
| Burrill Biogreentech |
162.27 |
183.60 |
183.67 |
0.0% |
13.2% |
| NASDAQ |
3019.51 |
3459.14 |
3455.91 |
-0.1% |
14.5% |
| DJIA |
13104.14 |
15303.1 |
15115.57 |
-1.2% |
15.3% |
| S&P 500 |
1426.19 |
1649.6 |
1630.74 |
-1.1% |
14.3% |
| Amex Biotech |
1547.03 |
1982.632 |
1983.77 |
0.1% |
28.2% |
| Amex Pharmaceutical |
369.57 |
434.041 |
421.25 |
-2.9% |
14.0% |
Epizyme Offering Makes May Biggest Month for Biotech IPOs in 13 Years
Eight companies debut as queue grows to 17.
Epizyme, a clinical-stage company developing personalized therapeutics for cancer, priced a $77 million IPO May 30, making it the biggest month for life sciences IPOs in more than a decade. Read More Here
CIRM Chief to Seek Funding for Stem Cell Clinics
Trounson will ask board for $70 million to create network of sites for trials and treatments.
Alan Trounson, president of the California Institute for Regenerative Medicine, said he will ask the board for about $70 million to create a network of stem cell clinics in California to conduct trials or provide treatments. Read More Here
Valeant Buys Bausch + Lomb for $8.7 Billion
Deal provides Valeant with global brand, low reimbursement risk.
Valeant Pharmaceuticals, a Canadian specialty pharma and active acquirer, is paying $8.7 billion for the global eye health company Bausch + Lomb. Read More Here
Amgen Allies with Astellas in Japan
Deal positions partners for long-haul collaboration, with Amgen taking full control in 2020.
Amgen, the world's largest independent biotechnology company, and Tokyo-based Astellas Pharma are forming a strategic alliance to develop and launch new medicines for cancer, as well as cardiovascular and bone diseases in Japan. Read More Here
Ophthotech Raises $175 million for Eye Therapy
Money will be used to fund late-stage combo trial of its investigational anti-VEGF therapy.
New York City-based Ophthotech has raised $175 million to finance a late-stage global trial of its lead compound Fovista in combination with anti-VEGF therapy to treat neovascular age-related macular degeneration, or wet AMD. Read More Here
AstraZeneca Snaps Up Omthera for as Much as $443 Million
Specialty pharma’s prize is late-stage lipid lowering therapy that may be offered in combination with the statin Crestor.
AstraZeneca is buying Omthera Pharmaceuticals for $323 million in cash and contingent value rights that could raise the total deal value to $443 million. Read More Here
GSK Preps Next-Generation Vaccines with $325M Okairos Acquisition
Genetic Technology shows promise for both protection and treatment.
GlaxoSmithKline is paying $325 million (250 million euros) for Okairos, a privately held Swiss developer of novel genetic vaccines targeting a range of infectious diseases and cancer. Read More Here
Allon Therapeutics, Satori Pharmaceuticals, and Predictive Biosciences to Close Shop
The weekly round-up of failed trials, missed targets, and other business mishaps.
Allon Therapeutics, a Canadian biotech focused on therapies for central nervous system diseases involving dysfunctional tau protein, filed a proposal for bankruptcy and reorganization, and the Toronto Stock Exchange halted trading of the company's common shares. In December 2012 Allon Therapeutics’ lead therapeutic candidate, davunetide, failed a pivotal mid-late stage trial late for efficacy as a treatment for progressive supranuclear palsy and the company has been considering its options since then. According to the filed Bankruptcy and Insolvency Act proposal, rather than undergo liquidation, Allon will transfer all issued and outstanding shares to Canadian-based Paladin Labs, which will pay Allon $1 for all the shares plus $900,000 in cash. All outstanding employee stock options will be cancelled. Read More Here
Biomarker For Pancreatic Cancer Identified
Modification of routine endoscopy procedure could transform patient outcomes.
Clinical researchers have found a promising method for distinguishing pancreatic cancer from chronic pancreatitis, or inflammation of the pancreas, at an early stage when intervention can be critical. Read More Here
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