27
Nov
2006
The State of Colorado Bioscience Discovery Grant Program provides matching funds for proof-of-concept projects. The University Colorado Tech Transfer Office selected 13 finalists from a large pool of applicants. The proposals totaled $2,129,000, and have been sent to the state for final review. Though funds are earmarked for technology that has not yet been obligated [...]
27
Nov
2006
I’ve started a new FeedBurner Network, “The Business of Biotech”. Please observe the member badge in the side bar. If you, or someone you know are blogging about anything life science related I would urge to join the network. FeedBurner Networks is a service (currently in beta), that encourages discoverability and self-promotion of your feed [...]
26
Nov
2006
Allos Therapeutics, Inc. (NASDAQ: ALTH) having met all minimum requirements was added to the NASDAQ Biotechnology Index. Being added to an index typically yields an uptick in share price and corresponding market cap as all funds, ETF’s, separate accounts etc. that mirror an index must purchase the newly added position, in this particular case the [...]
16
Nov
2006
Pharmion: Bucks the Trend
Posted in CO Public: Pharmion
After a fury of CO life science companies that have recently been acquired (e.g. Myogen/Gilead, RxKinetix/Endo and Sirna/Merck), Pharmion, Inc. (NASDAQ: PHRM) has reversed this local trend and gone out and purchased Cabrellis (privately held, San Diego, CA) for $55M with an additional $45M pending. Two additional payments of $12.5M are expected upon approval of [...]
14
Nov
2006
Allos Therapeutics, Inc. (NASDAQ: ALTH) announced safety results from its Phase I/II trial of Pralatrexate (PDX) in patients with non-Hodgkin’s lymphoma and Hodgkin’s disease, and from its Phase II study of efaproxyn in patients with unresectable non-small cell lung cancer receiving sequential chemoradiotherapy (S-CRT). Results of the PDX sudy indicate a higher incidence of stomatitis [...]
10
Nov
2006
ARCA Discovery, Inc., (Denver,CO) a biopharmaceutical company developing genetically-targeted therapies for heart failure and other cardiovascular diseases, announced that Richard B. Brewer has been appointed President and CEO. Prior to ARCA Discovery Mr. Brewer was managing partner at Crest Asset Management, previously, Mr. Brewer was president and CEO of Scios, Inc. (NYSE: JNJ), served as [...]
10
Nov
2006
Data Data Data…
Posted in CO Public: Array
We can thank the Tufts Center for the Study of Drug Development for officially estimating the cost to bring a biotech product to market, that is $1.2B, with average preclinical costs of $615M and clinical costs of $626M, and requires just over eight years to bring to market. Note: Average out-of-pocket cost per approved biopharmaceutical [...]
08
Nov
2006
Black Eye For Macugen
Posted in CO Pub Rel: OSI Pharma
At their quarterly conference call OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) announced a planned exit of their recent $650M Eyetech acquisition. OSI bought Eyetech primarily for the age related macular degeneration (AMD) drug Macugen. Macugen sales for the quarter rapidly and dramatically declined, reaching only $9M in sales relative to $87M for the previous two quarters. [...]
06
Nov
2006
Two fantastic tidbits emerging out of Array Biopharma, Inc. (NASDAQ: ARRY) headquarters: Array has filed an Investigational New Drug application for ARRY-797 with the FDA and is now able to proceed with human clinical studies. ARRY-797 is a potent, selective, orally active inhibitor of p38 MAP kinase and has demonstrated good tolerability and significant efficacy [...]
06
Nov
2006
InViragen (Ft. Collins), who is developing vaccines against emerging world-wide diseases such as West Nile, avian influenza, plague and smallpox, has announced a vaccine manufacturing agreement with Shantha Biotechnics (Hyderabad, India) to develop their lead dengue vax product to enable completion of preclinical studies and initiate safety and efficacy clinical trials. Since winning the first [...]
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