SetPoint Medical has an ambitious aim to use bioelectronics to treat inflammatory ailments and an equally impressive line-up of venture investors--including several strategic ones. Now it's added $15 million to a Series C round that originally closed in August 2013 to hit a total of $43 million. The financing will go to further advance its neuromodulation device in clinical studies to treat rheumatoid arthritis and Crohn's Disease.
When GlaxoSmithKline bought out GlycoVaxyn for $190 million earlier this year, it gained a set of early-stage vaccines and commissioned GlycoVaxyn's team to create a new company around its existing research operation. That company is LimmaTech Biologics, and now, it and GSK have struck a 5-year exclusive agreement to develop novel bioconjugate antigen-based vaccines.
When GlaxoSmithKline bought out GlycoVaxyn for $190 million early this year, it gained a set of early-stage vaccines and commissioned GlycoVaxyn's team to create a new company around its existing research operation. That company is LimmaTech Biologics, which announced the start of its operations on Friday.
Adaptimmune has bagged two milestones from GlaxoSmithKline. The checks landed in Adaptimmune's bank account after it tripled the size of a Phase I/II synovial sarcoma trial of its NY-ESO-1-targeting T-cell receptor (TCR) therapy on the strength of data from the initial cohort.
GlaxoSmithKline faces constraints in supplying hepatitis B treatment Tenozet in Japan because of curbed operations at its China plant that makes the treatment after a massive chemical explosion that rocked country's Tianjin manufacturing hub in early August.
San Francisco incubator QB3 is linking up with pharma giant GlaxoSmithKline on some translational work, looking to push a few academic research projects toward the clinic.
The first half of the year has provided a good ride for Big Pharma and its investors with indices up in the U.S. and Europe. Even Japanese drugmakers avoided the side effects of China's stock market meltdown and saw values rise 23%. But, of course, averages come from the highs and the lows and some players have actually seen share price declines during this bull market.
Thanks to the companies' recent multi-billion-dollar asset swap, Novartis already has the rights to former GlaxoSmithKline drug ofatumumab's cancer applications. But now, it's forking over up to $1 billion to gain full control of the med--currently marketed as Arzerra--and to test it as a therapy for multiple sclerosis.
Novartis is paying GlaxoSmithKline as much as $1 billion for the rights to a mid-stage multiple sclerosis treatment, betting it can develop an heir to the blockbuster Gilenya, soon to lose patent protection.
The decision of GlaxoSmithKline CEO Andrew Witty to double down on consumer health products has not been very popular with some investors, who question the strategy of focusing on low-margin, high-volume products like toothpaste. Well, Witty has a whole lot less toothpaste to sell right now, since GSK has recalled more than 3.9 million tubes that may have more than whitener in them.