By John Carroll Baxter International is setting up its own corporate venture unit with plans to inject up to $200 million to be invested in early-stage companies with promising new technologies. “Baxter’s mission is to apply innovative science to develop therapies and medical technologies that save and sustain patients’ lives,” said Baxter CEO Robert L. …
By John Carroll PricewaterhouseCoopers and the National Venture Capital Association crunched the numbers on venture investing in the second quarter, tracking a 46% spike in the amount of venture cash being injected into U.S. biotech companies. Biotechs garnered $1.2 billion in venture funds for the quarter, with deal activity jumping 20%–from 97 rounds in the …
By Ryan McBride Big names in life sciences are backing DVS Sciences in a $14.6 million Series A round. With biomarker analysis technology for personalized medicine, the start-up has garnered investments from the investment vehicles of drug giants Pfizer ($PFE) and Roche as well as the venture firms 5AM Ventures and Mohr Davidow Ventures. 5AM …
By Tracy Staton If you’re a pharma M&A junkie, then the next couple of years should make you happy. Unfortunately, the news isn’t as good for those seeking a job in the drug industry. That’s the message from a new KPMG survey of 100 pharma executives, many of whom expect difficult times ahead. Some 83% …
By John Carroll Cambridge-based upstart Zafgen has rounded up $33 million in a third venture round as it sets out to prove in an upcoming mid-stage trial that it has a viable therapeutic alternative to bariatric surgery. Encouraged by signs of dramatic weight loss in Phase I, Zafgen’s two venture backers–Atlas Venture and Third Rock–are …
By George Miller AstraZeneca and PTC Therapeutics are joining forces for cancer cures, using PTC’s proprietary discovery/development technology platform. AZ will front an undisclosed amount of cash to start work on the first oncology target. The drug giant has also agreed to “committed research funding,” according to an announcement. The platform, called Gene Expression Modulation …
By John Carroll Novartis Venture Fund has stepped in to lead a big Series B expansion for Sunnyvale, CA-based Sorbent Therapeutics, which is engaged in a mid-stage trial of a new treatment designed to flush excess amounts of fluids like sodium and potassium from patients. Novartis joined Sofinnova Ventures, ARCH Venture Partners, CMEA Capital and …
By John Carroll The veteran crew of cancer drug developers at MGI Pharma who went on to found Tesaro a little more than a year ago have rounded up a whopping $101 million B round led by Kleiner Perkins Caufield & Byers. The cash gives the Boston-based biotech more cash to follow up on its late-stage …
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