From SCRIP Intelligence: BioNotebook: BIO 2014, Pharmacyclics, Trevena, Northwest, Aeterna Zentaris, Argos
BIO Convention 2014 preparations in San Diego; Pharmacyclics gets $50m Imbruvica milestone fee; Trevena postpones IPO; Northwest grosses $23.5m from stock, warrant sale; Aeterna Zentaris shares, warrants net $13.7m; and Argos adds $17.5m to Series E.
BIO looks forward to San Diego convention in 2014 and beyond
"Our goal is to try to come back here as often as our attendees allow," BIO International Convention president Scott Whitaker told Scrip on 20 November during a press event at the San Diego Convention Center to commemorate the June 2014 return to San Diego for the largest annual gathering of the Biotech Industry Organization (BIO).
The last time the BIO Convention was in San Diego was 2008 and the event's 20,000 attendees had an $80m economic impact on the region, according to Joe Panetta, president and CEO of the local biotech trade association Biocom. Attendance at BIO's biggest event has not reached the same level since then due to economic conditions, but BIO is hopeful that the 2014 convention will attract more than 15,000 attendees from around the globe. Convention center president and CEO Carol Wallace said 16,000 attendees would have a $56m economic impact.
Regular BIO Convention attendees who prefer San Diego may be in for a treat, because the event's planners may limit the convention's venues to the three main US life science hubs – San Diego, San Francisco and Boston – in the future. Mr Whitaker told Scrip that BIO could throw in alternative cities from time to time, but convention planners may yield to the preferences of the event's attendees. In broad surveys of conference participants, he said two key issues always rise to the top: they want the BIO Convention to take place in life science hubs more frequently and they want to be in San Diego more often.
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From SCRIP Intelligence: Sorrento becomes one-stop ADC shop with $11.6m Concortis buy
The recent spending spree by Sorrento Therapeutics has come to an end with the acquisition of Concortis BioSystems whose linkers and cytotoxic agents will be combined with antibodies from Sorrento's G-MAB library to create a one-stop antibody-drug conjugate (ADC) shop.
San Diego-based Sorrento, which recently moved its stock from the Over the Counter board to the Nasdaq index, will issue 1.3m shares to Concortis shareholders. That amounts to an $11.6m purchase price for the private San Diego company. Sorrento has been on an acquisitive tear since March when the company bought Igdrasol, whose lead compound Cynviloq is on a fast track to giving Celgene's Abraxane (albumin-bound paclitaxel) some new competition, but the focus going forward is on execution not acquisition (scripintelligence.com, 8 March 2013).
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Viriom Expands Global Licensing Agreement With Roche for Innovative Compound Development for HIV Treatment
Torrey Pines Investment (a specialty life-science investment company located in San Diego) announced that its portfolio's company Viriom has expanded a Global Licensing Agreement with Roche for Innovative Compound Development for HIV Treatment
Naviscan assets acquired by Compañía Mexicana de Radiología, CGR, S.A. de C.V.
San Diego, CA – November 29, 2013 – Compañía Mexicana de Radiología, CGR, S.A. de C.V. (CMR) has acquired certain Naviscan Inc. assets including intellectual property and the Naviscan Trademark. CMR plans to continue sales and support of Naviscan’s High Resolution Organ Specific Positron Emission Imaging Technology.
Conatus Pharmaceuticals Receives U.S. Orphan Drug Designation for Emricasan for Treatment of Liver Transplant Recipients
Conatus Pharmaceuticals Inc.(Nasdaq:CNAT), a biotechnology company focused on the development andcommercialization of novel medicines to treat liver disease, today announcedthat the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designationto Conatus' drug candidate emricasan for the treatment of liver transplantrecipients with reestablished fibrosis to delay the progression to cirrhosisand end-stage liver disease. The FDA's Orphan Drug Designation program isintended to encourage the development of drugs and biologics that may providebenefit to patients suffering from rare diseases or conditions.
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Perceivant Receives Series-A Financing from Boostrap Incubation, LLC
Perceivant, developer of a breakthrough business intelligence platform, has received $2.1 million in Series-A financing from Bootstrap Incubation, LLC to support product development and add new jobs at the Indianapolis-based company.
Curtana Adds Industry Luminaries to Scientific Advisory Board
SAN DIEGO, CA – November 27, 2013 – Curtana Pharmaceuticals, a new privately-held, preclinical stage pharmaceutical company headquartered in San Diego, has added Brent A. Reynolds, Ph.D. and Jeremy Rich, M.D. to its scientific advisory board, joining Santosh Kesari, M.D., Ph.D. and Wolf Wrasidlo, Ph.D.