Deals and Data 9/8/08
Alan Lewis and his Novocell, part of a recent cover story in Forbes, hit another major milestone last month in their efforts to develop a way of using stem cells to create insulin-producing cells for diabetics. Among 27 recipients of grants from the California Institute for Regenerative Medicine (PDF), they are the first and only commercial entity to have received a grant from this institution.
International Stem Cell signed a distribution agreement with Milliopore to produce living cells and cultures that Millipore will distribute. Millipore has a large facility in Temecula while International Stem Cell is based in Oceanside. Could this budding romance be the first biotech deal born on the shiny new Sprinter, bridging the bustling boroughs of North County ?
Not to be outdone in terms of cross-town partnerships, Sorrento Mesa-based cell imaging company Cyntellect says it signed a research collaboration with the Burnham Institute for Medical Research (PDF), looking at how the two groups can use Cyntellect's live cell imaging technology to study stem cells, their colonies and how they differentiate. Cyntellect will have certain commercial rights to applications that come from the collaboration.
The VoiceOfSanDiego.org takes a look at the potential impact of Roche's proposed acquisition of Genentech and its implications for the Oceanside NIMO facility that makes Avastin, the drug now responsible for more of Genentech's income than any other drug, including Rituxan, which is partnered with Biogen Idec. You can read that story here.
Also in North County, Isis says it has secured a new spate of patents that protect it and partner Alnylam and offspring Regulus Therapeutics from infringement from any of a number of new companies working in a variety of RNA-interference technologies.
Ever have some money just burning a hole in your pocket? Two months after walking from its proposed acquisition of Innogenetics, Gen-Probe still wants to buy something, but this time, the firm is shopping at the company store, where it knows it's going to get a good deal. Gen-Probe filed documents to buy up to $250 million worth of shares of, you guessed it, Gen-Probe. Does anyone out there know why?
Shares of Amylin continue to be shelled by conflicting reports on the benefits of Byetta. The company has been actively talking about the issue at recent conferences and a Web cast on Byetta which you can find here.
Asterand has given Allergan exclusive rights to preclinical small molecules (PDF) for use in ophthalmic indications for $6.3 million upfront and $56 million in milestones.
Ligand Pharmaceuticals has been buffered by news from partner Pfizer on FDA review panel discussions about the safety of Pfizer's proposed osteoporosis drug, called Fabyln, which uses technology licensed from Ligand. On Monday, the review panel voted 9-3 in favor of the drug, saying its benefits to treat this disease outweighed the risks. This news comes after word that Salk and Ligand have settled a lawsuit, with Ligand paying $9.5 million to its neighbors.
Just down the street, TorreyPines Therapeutics has a new CEO; Evelyn Graham is acting chief executive after Dr. Neil Kurtz left the company ... not far away, Neurocrine Biosciences got some good news with the positive Phase II results looking at the company's new endometriosis drug, called Elogolix.
Up in Orange County, Valeant Pharmaceuticals signed a major partnership with GlaxoSmithKline with an upfront payment of $125 million for an investigation epilepsy drug called retigabine. Valeant acquired several epilepsy products, including this one, when it bought San Diego-based Xcel Pharmaceuticals in 2005. For those of you updating your biotech family tree, Xcel itself was an offshoot of Elan, which had acquired Dura back in 2000.
And from our north of north county bureau, Berkeley-based Xoma says it has clinical data showing it has a potential new way of treating diabetes that could target damage caused to insulin-producing cells. Click here for more information.
And for those who were there back in the day, there's going to be a reunion of Hybritech veterans celebrating the 30th reunion, Saturday, Sept. 13 at 3 p.m. at AMN Healthcare, hosted by Hybritech vet and current AMN Healthcare president and CEO Susan Nowakowski. And yes, we do expect the entire life science community to be there. Contact Mentus at 858-455-5500 or go to www.hybritech.org for more information on how to register and be a part of the legend.