Teva Pharmaceutical (NYSE:TEVA) and Microchips Biotech said they inked a $35 million co-development deal to explore using Microchips’ implantable drug delivery device with Teva’s line of drugs. The wireless Microchips device can store 100s of doses for months or even years and be programmed to release the drug at precise times or schedules, the companies said yesterday. “The […]
Intersect ENT (NSDQ:XENT) said Tuesday it closed its public offering of 4.1 million shares of common stock at $25 per share. J.P. Morgan and BofA Merrill Lynch were book-runners for the offering, with Leerink Partners, Canaccord Genuity and William Blair as co-managers, the company said.. The deal included 537,300 shares sold through an underwriters option to purchase […]
Watertown, Mass.-based pSivida, which develops ophthalmic drug-delivery devices, expects to net $9.9 million from an equity and warrant-based round involving a group of private investors, the company said today.
SurModics Inc. (NSDQ:SRDX) named two board members put forth by its largest shareholder, New York-based investment firm Ramius LLC.
The Eden Prairie, Minn.-based company said it named Ramius managing director Jeffrey Smith and Wheatley Partners partner Dr. David Dantzker to the board effective immediately.
The two companies are developing the system to treat diabetic macular degeneration. The investigational drug delivery system is designed for sustained release of Iluvien with an intra-vitreal insert.
Pulmatrix Inc. landed a $5.7 million contract from the Defense Advanced Research Projects Agency to develop a drug/device combination aimed at protecting military personnel and civilians against biological weapons.
DARPA selected the Lexington, Mass.-based company as part of its “7-day Biodefense Initiative,” a project to develop inhaled therapeutics for respiratory infections caused by airborne agents.
For companies like Medtronic Inc. (NYSE:MDT), developing breakthrough technologies to treat untreatable diseases can be expensive and have little promise of financial returns.
The risk is high enough for — even companies as well-resourced as Fridley, Minn.-based Medtronic — that alternative funding sources are welcomed and highly sought after.
pSivida Corp. (NSDQ:PSDV) sailed into the black with a 388 percent increase in revenues during the fourth quarter of fiscal 2010.
The Watertown, Mass.-based ophthalmic drug-delivery device maker posted net earnings of $13.1 million, or 68 cents per diluted share, on sales of $15.7 million during the three months ended June 30. That compares with a net loss of $534,000, or 3 cents per diluted share, on sales of $3.2 million during the same period last year.
Zogenix Inc. is attempting to raise $90 million through an initial public offering.
The San Diego-based company said it plans utilize the new funds to help commercialize its Sumavel DosePro drug-device combination and the clinical advancement of its ZX002 drug in a Securities & Exchange Commission filing.
The Food & Drug Administration put pSivida Corp. (NSDQ:PSDV) and Alimera Sciences Inc. (NSDQ:ALIM) on the fast track, granting an expedited review for their drug/device combination designed to treat diabetic macular edema.
Watertown, Mass.-based pSivida and Alpharetta, Ga.-based Alimera filed a new drug application with the FDA in June for Iluvien, a sustained release drug delivery system that delivers flucocinolone acetonide, a steroid, for the treatment of DME.