General Electric (NYSE:GE) announced that it completed the sale of its BioPharma business to Danaher (NYSE:DHR) for net proceeds totaling approximately $20 billion. Boston-based GE said in a news release that, under the agreeement, it received a total consideration worth $21.4 billion, with $21 billion in cash along with Danaher’s assumption of certain pension liabilities. After accounting…
SGI-DNA touts its automated gene printer for coronavirus vaccine development
Synthetic biology company SGI-DNA is touting its efforts to accelerate research in the creation of vaccines for SARS-CoV-2, the virus causing the COVID-19 pandemic. The San Diego-based company said in a news release last month that it built the genes thought to be critical to developing successful vaccines against the virus and made those tools…
How VR could help design new drugs
Researchers at the University of Bristol (United Kingdom) are touting their use of virtual reality (VR) as a means to design and develop the next generation of drug treatments. In a published work in the journal PLOS ONE, the researchers explained the use of VR in discovering new drugs by finding molecules that bind to…
Hologic gets U.S. funding for coronavirus test kit
The U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response (ASPR) is offering advanced development support to Hologic (NSDQ:HOLX) for a molecular diagnostic test for coronavirus (COVID-19). Marlborough, Mass.-based Hologic’s test is the first coronavirus product selected for development through ASPR’s biomedical advanced R&D authority streamlined selection process (BARDA), which…
Evonetix raises $30m for desktop gene synthesis tech
Evonetix announced today that it closed a $30 million Series B funding round as it develops technology for enabling gene synthesis on a chip. The Cambridge, U.K.-based synthetic biology company said the funding round, led by new investor Foresite Capital, is slated to fund the company through to the introduction of its desktop DNA platform,…
IBM offering free data services to support development of coronavirus-fighting drugs
IBM (NYSE:IBM) announced today that it plans to work with medical institutions and practitioners by offering support in the development of drugs to combat the recent coronavirus outbreak. The company said in a news release that it intends to leverage its IBM clinical development (ICD) system to help accelerate the development of key drugs in…
Bayer, Nuvisan to create drug discovery research unit in Berlin
Bayer (ETR:BAYN) announced that it entered into a definitive agreement to transfer some of its small molecule research unit to Nuvisan for an undisclosed amount. The agreement is slated to lay a foundation for Nuvisan to establish the Berlin-based research unit and support Bayer’s focus on the flexibility and productivity of its research & development operating…
FDA, FTC want to encourage competition in biologics market
The FDA and U.S. Federal Trade Commission (FTC) announced today that they signed a joint statement to encourage collaboration in support of a robust marketplace for biological products, including the critical adoption of biosimilars and interchangeable products. The two agencies said the statement sets out to address false or misleading promotion about biosimilars within the…
Vascular Therapies closes $17.3m financing
Vascular Therapies announced that it closed an upsized private funding round worth more than $17 million with contributions from new and existing investors. The Cresskill, N.J.–based clinical-stage biopharma company originally targeted $15 million for the financing, but finished with a total of $17.3 million raised. Get the full story at our sister site, MassDevice.
Bayer and Exscientia partner to bring AI to drug discovery
Bayer (ETR:BAYN) announced that it is entering into a collaboration agreement with artificial intelligence drug discovery company Exscientia to identify and optimize novel lead structures for potential drug candidates in treating cardiovascular and oncological diseases. The agreement, announced earlier this month, is slated to see the companies work together on early research projects combining Exscientia’s proprietary…
ASLS wins Frost & Sullivan bioprinting award
Advanced Solutions Life Sciences announced that it won the Frost & Sullivan 2019 Bioprinting Value Leadership Award for demonstrating best-in-class biofabrication, hardware, software and consulting services. Last month’s award highlights global consultancy firm Frost & Sullivan’s view that ASLS develops unique and cost-effective solutions to advance the development of life-saving drugs by way of 3D bioprinting,…
Dyve Biosciences hires new chief scientific officer
Transdermal drug therapy developer Dyve Biosciences announced that it appointed longtime Pfizer executive Chuck Harbert to the role of chief scientific officer. Harbert spent three decades at Pfizer, serving as the company’s VP of U.S. exploratory development and strategic planning, among other senior positions with Pfizer Central Research. He is the inventor and co-inventor of 35 pharmaceutical…
Dicerna and Novo Nordisk to develop RNAi therapies for liver-related cardio-metabolic diseases
Dicerna Pharmaceuticals (NSDQ:DRNA) announced today that it closed a discovery & development agreement with Novo Nordisk (NYSE:NVO) worth at least $175 million to further development of therapies for treating liver-related cardio-metabolic diseases. The two companies announced the agreement on Nov. 18, 2019, outlining the plan to discover and develop the therapies using Dicerna’s GalXC RNAi platform…
CEL-SCI prices $5.5m common stock offering
Phase 3 cancer immunotherapy company Cel-Sci (NYSE:CVM) announced today that it priced an underwritten public offering of common stock with expected gross proceeds of $5.5 million. Vienna, Va.–based Cel-Sci is offering 606,395 shares of common stock at a price of $9.07 per share to total the $5.5 million before deducting underwriting discounts and other estimated expenses. The…
Sanofi eyes Synthrox purchase
Sanofi (NYSE:SNY) announced today that it is planning to tender an offer to acquire all outstanding common stock shares of clinical-stage biotech company Synthorx. The agreement and plan of merger between the two companies was announced on Dec. 7 and the offer is being made pursuant to that. Sanofi said it stands to acquire the common…
Triplet Therapeutics launches with $59 million in funding
Biotechnology company Triplet Therapeutics announced that it launched earlier this week with $59 million in financing as it develops ways to treat certain types of genetic disorders at their source. The $59 million includes a $49 million Series A financing round led by MPM Capital and Pfizer Ventures U.S. Co-founder Atlas Venture seeded Triplet with…
Veristat acquires Catalyst Regulatory Services
Contract research organization Veristat announced today that it completed the acquisition of Catalyst Regulatory Services, a company that provides regulatory support to biopharmaceutical firms, for an undisclosed amount. Southborough, Mass.-based Veristat said Catalyst’s combination of experience and expertise in the regulatory space will help the company implement strategies, applications, submissions and interactions with regulatory agencies…
Propeller Health offers access to CVS, other pharmacies with Propeller app
Propeller Health announced today that users of its Propeller app are now able to access pharmacy services from CVS, Walmart, Kroger and Rite-Aid directly through that app. The Madison, Wis.–based company launched the app in January 2019, giving Walgreens patients the option to manage their asthma or chronic obstructive pulmonary disease medication regimen within the mobile app.…