Forbes gets takeover proposal from Pharmachem

 Pharmachem Laboratories, a closely held U.S. manufacturer and supplier of ingredients, including nutritionals, food and beverages, flavours and fragrances, is considering a cash offer to purchase substantially all of the assets of Forbes Medi-Tech (OTCBB:FMTI). Earlier this month, Forbes announced plans to sell substantially all of its assets to an affiliate of Marco Hi-Tech JV [...]

FDA delays action date for Theratechnologies

Theratechnologies (TSX:TH) expects to have an official response from the FDA in the fourth quarter this year about its new drug application for its tesamorelin, a treatment for excess abdominal fat in HIV-infected patients with lipodystrophy. The FDA had originally targeted July 27 to complete its review. “The FDA has indicated that the review is [...]

Interface Biologics licenses Endexo to Fresenius

Closely held Interface Biologics of Toronto has signed an evaluation and exclusive license option agreement with Germany’s Fresenius Medical Care (FSE:FME; NYSE:FMS), the world’s largest provider of dialysis products and services.  Under the accord, Fresenius will evaluate the use and efficacy of Interface’s Endexo technology to various components of its dialysis circuits for treating end-stage [...]

Ondine spinoff validates platform technology

In a tough financing environment, Ondine Biopharma (TSX,AIM:OBP) may have found a magic elixir in a private company spinoff that will develop a new photodisinfection (PDD) product for chronic sinusitis. “It’s novel but similar to the mining industry, where people take on a piece of a very good project knowing that there’s a good horse [...]

FDA clears Phase 1 study of Lorus drug

The FDA has approved Lorus Therapeutics’ (TSX:LOR) investigational new drug application for its anti-cancer drug candidate, LOR-253. The company said it now plans to proceed with a first-in-man Phase 1 dose escalation trial with LOR-253 in advanced or metastatic solid tumours at Memorial Sloan-Kettering Cancer Center in New York. The trial will study the safety [...]

Tekmira lands up to $140 million contract for Ebola SNALP

Tekmira Pharmaceuticals (TSX:TKM) has received a contract from U.S. Government’s chemical and biological defense program initially valued at up to $34.7 million (U.S.) to develop an RNA-interference therapeutic utilizing its SNALP lipid nanoparticle technology to treat Ebola virus infection. The initial three-year funding covers work through preclinical development, filing of an IND application with the [...]

Amorfix licenses ALS treatment to Biogen Idec

Amorfix Life Sciences (TSX:AMF) has granted Biogen Idec (NASDAQ:BIIB) exclusive worldwide rights to its lead amyotrophic lateral sclerosis (ALS) monoclonal antibodies. Under the accord, Amorfix will receive an up-front payment of $1 million (U.S.) and is eligible to receive milestone payments and royalties on sales.  Amorfix will also retain all rights for vaccines and diagnostics. [...]

Forbes Medi-Tech to wind up

Forbes Medi-Tech (OTCBB:FMTI) has agreed to sell substantially all of its assets to an affiliate of Marco Hi-Tech JV for about $1.4 million (U.S.) as part of a plan to appoint a liquidator, wind up its affairs and distribute the resulting net proceeds to shareholders. The company said it expects that the net proceeds of [...]

BIOTECanada’s Peter Benders on the state of the sector

What top three big-picture issues face biotech firms in Canada in the foreseeable future?  Top of the list is, of course, financing.  Even after an economically difficult year that saw global markets shy away from “risky” investments like biotech, within the industry, much scepticism remains about capital coming back.  On the one hand, we see [...]

ImmunoVaccine licenses cancer vaccine from Merck KGaA

ImmunoVaccine (TSX-V:IMV) has signed an agreement with Germany’s Merck KGaA to in-license EMD 640744, an investigational therapeutic survivin-based cancer vaccine designed to target multiple solid tumours and malignancies that target blood, bone marrow and lymph nodes. The accord gives ImmunoVaccine exclusive worldwide rights to develop and commercialize the survivin-based vaccine for multiple cancer indications. It will [...]

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