5 New Biotech Developments Worth Watching
The biotechnology sector is a rapidly-evolving space, and biotech traders must always stay on top of the latest developments. Here is a roundup of several recent biotech developments that are worth keeping an eye on.
Arena Collaborates With Roivant On Nelotanserin
Arena Pharaceuticals Inc (NASDAQ: ARNA) recently announced that its subsidiary Arena Pharmaceuticals GmbH has entered into a Development, Marketing and Supply Agreement with Roivant Sciences Ltd for nelotanserin. Nelotanserin is Arena’s internally-discovered inverse agonist of the 5-HT2A receptor. Under the terms of the agreement, Roivant will now be the exclusive worldwide developer and marketer of nelotanserin.
Pfizer Acquires Interest In AM Pharma
Pfizer Inc (NYSE: PFE) announced this week that it has purchased a minority stake in AM Pharma B.V., a Dutch biopharmaceutical company that focuses on use of recombinant human Alkaline Phosphatase for treatment of inflammatory diseases.
In addition to Pfizer’s minority interest in AM, it has also secured an exclusive option to acquire AM’s remaining equity in the future.
Threshold’s Evofosfamide Granted Fast Track Status
Threshold Pharmaceuticals Inc (NASDAQ: THLD) recently announced that its drug evofosfamide has been granted Fast Track status by the U.S. Food and Drug Administration (FDA) for treatment of patients with pancreatic cancer.
Impax Laboratories Inspected
The FDA recently performed a three-week inspection of Impax Laboratories Inc’s (NASDAQ: IPXL) Hayward, CA manufacturing facility. At the conclusion of the inspection, the FDA issued a Form 483 with three inspectional observations, none of which were designated as repeat observations.
Pain Therapeutics Provides Pipeline Update
Pain Therapeutics Inc (NASDAQ: PTIE) has provided an update on its drug pipeline. The company expects an eventful 2015 to include a re-filing of the New Drug Application for REMOXY based on promising early data, an announcement of proof-of-concept results for an abuse-deterrent transdermal pain patch and an announcement of non-dilutive funding of a new drug development initiative.
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