Privately-held Synspira said today that raised $8 million from an unnamed private investor to bring its inhaled cystic fibrosis therapy into a Phase I safety study. The Boston-based company was founded earlier this year and is focused on developing inhaled therapies for pulmonary diseases, including cystic fibrosis, chronic obstructive pulmonary disease and pneumonia. Synspira holds […]
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Bonesupport closes $57m IPO
BoneSupport said last week it closed its initial public offering, raising a total of approximately $57.1 million (SEK 500 million), not including an over-allotment option. The Swedish company, which is developing the Cerament G injectable antibiotic-eluting bone graft substitute, said it floated approximately 17.2 million new shares at $3.40 per share (SEK 29) in the […]
MetaStat lands $7m for personalized cancer diagnostic, therapy tech
MetaStat (OTC:MTST) said this week that it closed the 1st tranche of a $7 million private placement. The round, which was led by Perceptive Advisors, is slated to bring in approximately $2.1 million, according to the Boston-based company. The private placement consisted of an aggregate of 690,816 shares of common stock and 196,216 shares of […]
Topical post-herpetic neuralgia treatment fails to meet primary endpoint in Phase II
Teva Pharmaceuticals (NYSE:TEVA) and Xenon Pharmaceuticals (NSDQ:XENE) said this week that the Phase II study of a topical post-herpetic neuralgia treatment did not meet its primary or secondary endpoints. The small-molecule inhibitor, TV-45070, was licensed by Xenon to Teva in December 2012. The Phase II trial enrolled 300 patients and randomized them to receive 4% […]
NY Rep. Collins loses millions on Innate flop
Earlier this year, Rep. Chris Collins’ (R-NY) 16.8% stake in Innate Immunotherapeutics (ASX:IIL) was worth $45.5 million. But since the Australian biotech’s lead drug failed in a 93-patient trial this week, shares in the company dropped to 4¢ apiece and Collins’ holdings are now valued at just $1.5 million. As the company’s largest investor and […]
Dissolvable microneedle patch for flu vaccine succeeds in Phase I
Dissolvable microneedle patches that deliver the flu vaccine could provide a safe and cost-effective alternative to traditional immunization methods, according to the results from a Phase I trial published in The Lancet this week. The study enrolled adults ages 18 to 49 and randomly assigned them to receive a single dose of inactivated flu vaccine via […]
Plant-virus nanoparticles combined with chemo delays tumor progression
Researchers from Case Western Reserve University School of Medicine, Dartmouth Geisel School of Medicine and RWTH Aachen University have demonstrated that injecting nanoscale potato-virus particles and doxorubicin into melanoma tumors slows tumor progression in mice. The team’s work was published in Nano Letters. Although simultaneous injection of the virus particles and a chemo drug prompted a […]
Mersana Therapeutics prices $75m IPO
Cambridge-based startup Mersana Therapeutics said today that it raised $75 million in an initial public offering. The company sold 5 million shares of common stock at $15 apiece. Mersana, which debuted on the Nasdaq exchange listed under “MRSN”, also gave underwriters a 30-day option to buy up to 750,000 more shares at $15 per share. […]
Sirtex shares jump on restructuring plan, 15% headcount reduction
Sirtex Medical (ASX:SRX) saw shares jump today after revealing plans for a major restructuring as the company looks to cut its headcount and focus on its “profitable core business.” The company said it underwent an “extensive review of the business” to identify where it could improve efficiencies. The review led to an initial $7 million […]
Rhythm, Camurus tout early data on setmelanotide in rare genetic obesity
Camurus (STO:CAMX) and biopharma group Rhythm today released initial results from an ongoing Phase 1A clinical trial examining the pharmacokinetics and tolerability of an extended-release formulation of setmelanotide. The drug formulation uses Camurus’ FluidCrystal injection depot drug delivery technology to deliver Setmelanotide, Rhythm’s novel melanocortin-4 receptor agonist designed to treat genetic disorders of obesity. Initial results […]