Numerate Completes $4 Million Series A

Numerate, a biotechnology company leveraging a novel drug engineering process to design lead-stage drug compounds, announced today that it has completed a $4 million Series A.
From what I can tell, the company is working on the holy grail of in silico drug discovery. Add some inputs, out comes the list of compounds to synthesize. [...]

Zafgen Raises $14 Million in Series B

ZafGen, a Cambridge-based developer of an obesity therapy based on the vascular targeting of adipose tissue, has raised $14 million in Series B funding, according to a regulatory filing. Third Rock Ventures was joined by return backer Atlas Venture. The company previously raised around $5.2 million from Atlas and GreatPoint Ventures.
Interesting play here. There [...]

Pacira Pharmaceuticals Raises $85 Million in Series A

Pacira Pharmaceuticals, a San Diego based maker of controlled-release injectable products, has expanded its Series A round to $85 million. It had previously secured approximately $30 million. Backers include MPM Capital, HBM BioVentures, OrbiMed Advisors and Sanderling Ventures.

$85M is quite a haul but Pacira isn’t your normal, early stage delivery company. They already [...]

BBM Offers to Acquire YM BioSciences for $29M

Talk about a tough market, according to a recent report, half of all biotech’s with a market cap under $200M are trading for less than cash on hand. YM Biosciences is no exception and BBM is trying to snag a bargain.
Under BBM’s proposal, BBM would acquire all of the outstanding shares of YMI common [...]

Neurogen Sells The Farm(house)… Literally

Neurogen announced it has entered into agreements to monetize some of its non-core assets including certain research facilities and its chemical library.
Included within this group of non-core assets were:
- 4 of its 5 buildings for $6M ~($1.3M net cash to Neurogen)
- chemical library for $3M
I try and not use cliches if at all [...]

Accera Completes $35 Million Series C Financing

Accera announced it has recently closed a Series C financing round of $35 million (euro 27 million), led by Inventages Venture Capital SA. The company says that the proceeds of this financing will be used to begin sales and marketing ofthe company’s lead product, Axona(TM) (previously known as Ketasyn), which as the company says, is [...]

ArQule and Daiichi Sankyo Ink c-Met and Discovery Deals

ArQule and Daiichi Sankyo announced that they have entered into two agreements that form the basis of a strategic relationship for the development and discovery of novel oncology therapeutics. One agreement covers the license of ARQ 197 and the other is an R&D agreement.
ARQ 197 is a phase 2 stage, selective inhibitor of c-Met, [...]

TorreyPines Sells Alzheimer’s Disease Genetics Program to Eisai

TorreyPines Therapeutics, Inc. today announced that it has agreed to sell its Alzheimer’s disease genetics research program to Eisai Co., Ltd. for an upfront cash payment. TorreyPines and Eisai have collaborated on the genetics program since 2002, with the most recent agreement between the parties concluding on September 30, 2008. The Alzheimer’s disease genetics research [...]

Precision Therapeutics Secures $43 Million in VC Funding

Precision Therapeutics has secured $43 million in additional funding to expand the development and commercialization of ChemoFx(R). ChemoFx is a diagnostic test that helps physicians select the most effective chemotherapeutic regimen for cancer patients. New investor, Longitude Venture Partners, L.P., led the round and was joined by existing investors Adams Capital Management, Quaker BioVentures, Birchmere [...]

BTG Inks $320 Million Preclinical Deal With Onyx

BTG has granted the worldwide commercialization and development rights of BGC 945, a novel anticancer compound, to Onyx in exchange for a potential $320M.
BGC 945 is a novel compound that inhibits thymidylate synthase (TS), an enzyme involved in cell growth and division. However, unlike traditional TS inhibitors, BGC 945 enters tumour cells via the alpha-folate [...]

Another CB-1 Antagonist Bites the Dust: Pfizer Cancels CP-945,598

Not a shocking decision given the issues with other doomed CB1 antagonist programs but why didn’t this happen a year ago?
Pfizer Discontinues Development Program for Its Phase 3 Obesity Compound (CP-945,598)
-(Via Business Wire Health News.)

Osiris Leaps on $1.38 Billion Genzyme Stem-Cell Deal

Genzyme announced that they have entered a strategic alliance for the development and commercialization of Prochymal and Chondrogen, two novel, late-stage adult mesenchymal stem cell treatments that hold significant potential to treat a wide range of diseases. These stem-cell products are designed to provide therapeutic benefit by controlling inflammation, promoting tissue regeneration, and preventing scar [...]

Fidelity Biosciences Takes Over EnVivo Pharmaceuticals

Fidelity Biosciences has injected $65 million into EnVivo Pharmaceuticals Inc. and bought out all other venture investors in the neurological-drug developer.
EnVivo Pharmaceuticals was founded in 2001 and currently has 38 FTEs. EnVivo had raised ~$63.2M in three funding rounds, $14.9M Series A in October 2002 and $24.3M Series B in September 2004, $24M Series C [...]

EMD Serono Snags US license for Tesamorelin From Theratechnologies

Theratechnologies and EMD Serono, US arm of Merck KGaA, announced they have entered into a collaboration and licensing agreement for the exclusive commercialization rights to tesamorelin in the United States for the treatment of excess abdominal fat in HIV patients with lipodystrophy. Theratechnologies retains all tesamorelin commercialization rights outside of the US.
Tesamorelin is a growth [...]

Alnara Pharmaceuticals, Inc. Secures $20 Million in Series A Round

Alnara Pharmaceuticals announced today that it has secured $20 million in Series A venture capital financing. The round was co-led by Frazier Healthcare Ventures and Third Rock Ventures, and included co-investor Bessemer Venture Partners. Proceeds from the financing will be used to accelerate the development of non-systemic protein therapeutics.
The newly formed company is being led [...]