Resverlogix closes additional financing

Resverlogix (TSX:RVX) has completed an $8-million second tranche of its private placement announced in December, bringing the total proceeds of the equity financing to $13-million. In a statement, the company said it issued units at a price of $2.50 apiece, with each unit consisting of one common share and one-quarter of a warrant. Each full warrant [...]

Wex raises $34.5-million in rights offering

Wex Pharmaceuticals’ (TSX:WXI) rights offering has been fully subscribed, raising $34.5 million through the issuance of 265,483,177 restricted voting shares at a price of 13 cents a share. The company intends to use the proceeds to continue its research and development of tetrodotoxin and for general administrative costs and working capital. Controlling shareholder Pharmagesic (Holdings), [...]

biotuesdays.com’s feature piece on Labopharm “in the news”

At approximately 8:00 AM ET today, this week’s feature article was posted to biotuesdays.com.  Written by Len Zehr, the piece provided Labopharm’s (TSX:DDS; NASDAQ:DDSS) CEO, James Howard-Tripp, with an opportunity to map out where his company is heading in 2010 and beyond.   In the first five hours alone, the post attracted more than 654 [...]

Labopharm’s new antidepressant to be ‘game-changer’

It’s game on for Labopharm (TSX:DDS; NASDAQ:DDSS). By February 11, the FDA is expected to approve the company’s antidepressant trazodone, a novel once-daily formulation that addresses many of the shortcomings of similar drugs on the market.  “I think it’s fair to say this drug could be a game-changer for us,” CEO James Howard-Tripp says in [...]

FDA procedural delay hits Theratechnologies

The FDA has informed Theratechnologies (TSX:TH) that it plans to reschedule an advisory committee meeting to consider the company’s tesamorelin drug to treat excess abdominal fat in HIV patients. Originally scheduled for Feb. 24, the delay is “entirely procedural and is not related to the tesamorelin new drug application,” the company said in a statement. [...]

Transition posts positive Phase 2 diabetes results

Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) has reported positive results with type 2 diabetic patients in a Phase 2 clinical study of its gastrin analogue, TT-223 drug. Patients who received the highest daily dose of TT-223 for 12 weeks and completed the entire study without adjusting their diabetes therapies had a “statistically significant” reduction in HbA1c of [...]

Australia issues patent for Kane’s DispersinB

Kane Biotech (TSXV:KNE) received patent protection in Australia for its DispersinB anti-biofilm technology, the third country to cover the technology. The patent claims the gene encoding DispersinB enzyme and also the amino acid sequence of the enzyme, as well as method of production, pharmaceutical composition, methods of administration and applications in medical devices. Biofilms develop [...]

Tekmira ups potency of delivery platform

New research published in the journal Nature Biotechnology has disclosed that Tekmira Pharmaceuticals (TSX:TKM) has developed a new lipid component that provides a ten-fold improvement in the potency of its SNALP delivery platform. “This work advances Tekmira’s leadership position in the delivery of RNA interference therapeutics and supports our strategy of expanding the tremendous potential [...]

FDA approves SemBioSys’ GLA safflower oil

The FDA has cleared Sonova 400, a gamma linolenic acid (GLA)-rich safflower oil developed by SemBioSys Genetics (TSX:SBS) for partner, Arcadia Biosciences, allowing it to be marketed and sold as an ingredient in dietary supplements. Arcadia and its commercialization partner, Bioriginal Food and Science, expect to have commercial quantities of Sonova 400 available for sale in [...]

Dundee biotech outlook sees ‘ample room for upside’

While we were at the J.P. Morgan Healthcare Conference in San Francisco last week, Dundee Securities issued its latest biotech sector update. On the bright side, analyst David Martin writes that there are signs Biovail, Angiotech and QLT stocks are bouncing back – supported by new strategies and new products in development for each company. [...]

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