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 […]
As MicroCHIPS Inc. prepares to leave the laboratory and enter clinical development, the company is bringing in a new CEO to replace outgoing co-founder John Santini.
The Bedford, Mass.-based drug delivery systems developer tapped Ajit Gill, the former CEO of Auspex Pharmaceuticals and Nektar Therapeutics, for its corner office. In addition to his duties as president and CEO, Gill will also sit on the company’s board of directors.
MicroCHIPS Inc. corraled a group of existing investors and roped in a new backer into the fold, adding $16.5 million to its coffers as it works toward bringing its platform monitoring and treatment implant technology to market.
Existing backers Polaris Venture Partners, Novartis Venture Fund, Flybridge Capital Partners, Medtronic (NYSE:MDT), Saints Capital, Intersouth Partners, Care Capital and CSK Venture Capital all upped their investment in the Bedford, Mass.-based company. New backer InterWest Partners also chipped in.