Neil Woodford's new $1.2 billion fund and GlaxoSmithKline's VC unit have contributed to a $39 million Series C round in PsiOxus Therapeutics. The cash will allow PsiOxus to test its oncolytic virus together with a checkpoint inhibitor, a combination it thinks can make the immuno-oncology treatment effective against otherwise resistant targets.
In a big week for Ebola vaccines, Emergent Biosciences and GlaxoSmithKline have begun a Phase I trial of their candidates, while Bavarian Nordic received €50 million ($56 million) in loans from the European Investment Bank that go in part toward its programs in Ebola and infectious diseases.
Late last year, a newly formed Bermuda-based biotech struck a deal to in-license a shelved Alzheimer's drug from GlaxoSmithKline with plans to put it into Phase III. That late-stage study won't start until the fourth quarter, but the newborn biotech, now operating as Axovant Sciences, has filed for a $172.5 million IPO, looking to cash in fast on the still-sizzling market for biotech stocks.
As pharma companies jump left and right at dealmaking opportunities, GlaxoSmithKline CEO Andrew Witty is scratching his head.
Whenever a prominent analyst like Tim Anderson at Bernstein pens a review of a struggling Big Pharma company that asks the question if all hope is lost, you know it will be a painful read for any remaining true believers. GlaxoSmithKline and its embattled CEO Andrew Witty came in for that treatment a few days ago. And even if Anderson's answer was a qualified no, you can hear the clock ticking as the market waits for some kind of sign that there's a coherent plan taking shape to move forward decisively.
A struggling GlaxoSmithKline has set up an economy-sized research spinout with the University of North Carolina at Chapel Hill that's short on cash and long--very, very long--on its promise to hunt for a cure for HIV.
FiercePharmaAsia combs earnings calls by major drug companies for notable and quotable nuggets on emerging markets and Asia to track the latest sales trends and insight into business outlooks in markets as diverse as China, India and Japan to Southeast Asia.
The pharmaceutical industry's producers and academic researchers in Japan are actively engaged, despite setbacks experienced by others such as Google, in building a big-data pipeline, this one now including 10 drugmakers and 30 medical institutions.
If China has its way, within another year or two, a repeat of the GlaxoSmithKline and similar scandals will be far less likely, but drugmakers can expect to face a harder sell as a result. The government just completed a comprehensive healthcare reform plan centered on the nation's public-hospital system, but with a reach throughout the medical process.
Payers have put the squeeze on GlaxoSmithKline's top seller Advair, helping sink its sales and send company revenues tumbling. So GSK doesn't want to play with fire by hawking more high-priced meds. Instead, the company's identified a different path to growth, it said Wednesday--and the name of the game is volume.