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Editor's Note:
Registration is now open for The 9th Annual Burrill Personalized Medicine Meeting. Join us in San Francisco to explore where the science had led us to what hurdles need to be overcome. Registern Now!
California to Create Network of Stem Cell Clinics for Trials
Podcast: August 5, 2013
The California Institute for Regenerative Medicine plans to spend $70 million over five years to create a network of stem cell clinics to conduct trials in the hopes of accelerating the translation of experimental therapies into available treatments. As part of the plan, a coordinating center will aid the clinics in enrolling patients, managing regulatory hurdles, and become a repository of knowledge about how to best tackle clinical development issues surrounding cell therapies. We spoke to Alan Trounson, president of the voter-created institute, about the role the clinics will play, the gap they seek to fill, and how they fit into the institute’s greater mission. Read More Here
By The Numbers
|
Biggest movers for the week ending August 2, 2013
|
| TICKER |
COMPANY |
CLOSING PRICE 7/26/2013 |
CLOSING PRICE 8/2/2013
|
PRICE CHANGE |
PERCENT CHANGE |
|
| ADVANCERS |
| IDRA |
Idera Pharmaceuticals |
1.00 |
1.55 |
0.55 |
54.5% |
| INO |
Inovio Pharmaceuticals |
1.44 |
2.08 |
0.64 |
44.4% |
| SNMX |
Senomyx |
2.65 |
3.78 |
1.13 |
42.6% |
| VNDA |
Vanda Pharmaceuticals |
8.39 |
11.64 |
3.25 |
38.7% |
| ADHD |
Alcobra |
10.15 |
14.00 |
3.85 |
37.9% |
| DECLINERS |
| TSE:4584 |
Gene Techno Science |
50.00 |
36.59 |
-13.41 |
-26.8% |
| AMEX:ONVO |
Organovo |
6.27 |
4.60 |
-1.67 |
-26.6% |
| MEDS |
Medistem |
2.50 |
1.90 |
-0.60 |
-24.0% |
| JASDAQ:4978 |
ReproCell |
129.32 |
99.69 |
-29.63 |
-22.9% |
| NasdaqCM:NEO |
NeoGenomics |
3.24 |
2.64 |
-0.60 |
-18.5% |
| Includes life sciences stocks with closing price of $1 or more on July 26, 2013, |
Vanda Pharmaceuticals Sleep Disorder Drug Gets Priority Review
The July manufacturing index, released by The Institute for Supply Management, rose to its highest level since June 2011, but a soft employment report tempered the market. Stocks in emerging markets rose on the weak U.S. employment news. European stocks also did well with Bayer posting quarterly earnings that beat estimates, and the European Central Bank indicating it will keep interest rates low. The Dow Jones Industrial Average was up 0.6 percent, the S&P 500 was up nearly 1.1 percent, and the Nasdaq Composite was up 2.1 percent. The Burrill Select Index was up just over 0.7 percent.
Vanda Pharmaceuticals was among the week’s biggest gainers after announcing that the U.S. Food and Drug Administration granted priority review for its new drug application for tasimelteon, a circadian clock regulator for the treatment of non-24-hour disorder in totally blind individuals. There is currently no FDA-approved treatment for the disorder. Vanda’s stock was up 38.7 percent in a week of trading that saw over 12 million shares of the company trade hands.
Organovo was down 26.6 percent after announcing a public offering of 9 million shares of its common stock at $4.50 per share, with net proceeds to Organovo expected to be approximately $37.7 million. In a filing with the U.S. Securities and Exchange Commission, the company also included preliminary financial results for its first fiscal quarter of 2013, ending June 30, that showed an accumulated deficit of approximately $70.1 million.
Cubist to Buy Optimer and Trius for more than $1.6 billion
Deals strengthen Cubist's position in acute care market.
Cubist Pharmaceuticals will acquire Optimer Pharmaceuticals and Trius Therapeutics, valuing each company at more than $800 million. Both companies are developing drugs to combat bacterial infections often associated with hospital stays. Read More Here
| BURRILL INDICES |
12/31/2012 |
7/26/2013 |
8/2/2013 |
Week Change |
Year Change |
| Burrill Select |
589.98 |
864.10 |
870.28 |
0.72% |
47.51% |
| Burrill Large Cap |
711.61 |
1058.87 |
1069.96 |
1.05% |
50.36% |
| Burrill Mid-Cap |
309.52 |
436.36 |
470.75 |
7.88% |
52.09% |
| Burrill Small Cap |
105.48 |
152.66 |
156.50 |
2.52% |
48.37% |
| Burrill Diagnostics |
191.32 |
216.79 |
220.19 |
1.57% |
15.09% |
| Burrill Personalized Medicine |
118.52 |
149.89 |
147.76 |
-1.42% |
24.67% |
| Burrill Biogreentech |
163.09 |
179.49 |
180.51 |
0.57% |
10.68% |
| NASDAQ |
3019.51 |
3613.16 |
3689.59 |
2.12% |
22.19% |
| DJIA |
13104.14 |
15558.83 |
15658.36 |
0.64% |
19.49% |
| S&P 500 |
1426.19 |
1691.65 |
1709.67 |
1.07% |
19.88% |
| Amex Biotech |
1547.03 |
2144.06 |
2177.4 |
1.56% |
40.75% |
| Amex Pharmaceutical |
369.57 |
435.33 |
437.89 |
0.59% |
18.49% |
| NASDAQ Biotechnology Index |
1430.81 |
2051.67 |
2097.90 |
2.25% |
46.62% |
Summer Heatwave for IPOs
Month bolstered by biggest week for new life sciences issues in 13 years as sector’s offerings outpace IPOs in all other categories.
The life sciences IPO market continued to heat up as six life sciences companies completed IPOs in July with five of those new issues debuting in a single week, the busiest week for biotech IPOs in more than 13 years. Read More Here
Threatening Orphans
With everything on the table for tax reform, rare disease advocates and drug developers sound an alarm.
Members of Congress can expect to hear a lot in the next few months about job creation, innovation, and American competitiveness. If that’s not enough to move the heartless bastards in Washington, consider that the person delivering the message may well be an impassioned mother holding a child in her arms with a disease for which there is no cure.Read More Here
Duane Roth, California Industry Leader, dies at 63
Biking accident cuts short life of Connect CEO and CIRM vice chairman.
Duane Roth, CEO of the San Diego regional entrepreneurial support organization Connect and a vice chairman of the California Institute of Regenerative Medicine, died August 3 from injuries suffered during a biking accident, according to a notice on the CIRM website. He was 63. Read More Here
When Cancer Is Not Cancer
NCI group recommends ways to reduce disease’s burden.
Cancer experts seeking to minimize overdiagnosis of cancer, unnecessary patient anxiety, and wasted spending on overtreatment have published recommendations for screening that include removing the word “cancer” from many diagnoses. Read More Here
Celgene Takes $100M Option on Acetylon
Three-drug deal sets up shareholders for potential $1.1 billion payout over time.
Celgene is paying $100 million to back three development-stage therapies under development at Acetylon Pharmaceuticals, plus the exclusive right to acquire the company for no less that $500 million. Read More Here
Pfizer Chases Rejuvenation with Reorg
With 18 employees arrested, company says it is cooperating with investigation.
Pfizer by 2014 will isolate its high-value branded products from those nearing the end of patent protection or already off-patent by splitting the company into three new business segments. Read More Here
Perrigo to Acquire Elan in $8.6 Billion Deal
Over-the-counter drugmaker gains platform for international expansion, tax advantages.
Perrigo, the largest maker of store brand over-the-counter drugs, said it will buy Elan for $8.6 billion in a deal that will move the headquarters of the Michigan-based company to the more attractive tax environment of Ireland. Read More Here
Telegraph Hill Partners Raises $310 Million Fund
Firm will invests in commercial-stage life science, medical technology, and healthcare companies.
Telegraph Hill Partners, a venture capital and growth equity firm dedicated exclusively to life science and healthcare investing, said it closed a new $310 million fund, its largest since it was formed in 2001. Read More Here
GSK Says China Scandal Will Impact Earnings
With 18 employees arrested, company says it is cooperating with investigation.
GlaxoSmithKline replaced its general manager for China and warned investors to expect an unspecified impact on earnings as Chinese officials continue to investigate allegations that employees of the drug giant engaged in bribery and tax-related crimes there. Read More Here
Sequestration Cuts $4M From Long-term Heart Disease Study
The weekly round-up of failed trials, missed targets, and other business mishaps.
The influential Framingham Heart Study, a joint project of Boston University and the National Institutes of Health, will lose $4 million effective August 1 as a result of the sequester. Read More Here
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