SemBioSys pursuing strategic alternatives

SemBioSys Genetics (TSX:SBS) is working on a number of strategic options, including a corporate sale or merger, an accelerated strategic partnering transaction for either its insulin or Apo drug candidates, an asset sale, a significant restructuring and recapitalization or an orderly wind down of the company’s business. “At the current time, the company believes it [...]

Angiotech releases updates results for Multistem

Angiotech Pharmaceuticals (TSX:ANP; NASDAQ:ANPI) and partner Athersys (NASDAQ:ATHX) released updated results from the Phase 1 clinical trial of MultiStem, the allogeneic cell therapy product, administered after a heart attack. The study results, based on four months of post-treatment patient data, demonstrate that MultiStem was well tolerated at all dose levels and also suggest improvement in [...]

Cynapsus sets testing of Parkinson’s drug

Cynapsus Therapeutics (TSX-V:CTH) plans to begin proof-of-concept studies comparing preliminary prototypes of APL-130277, its potential treatment for Parkinson’s disease, with injectable apomorphine near the end of the year. “This is an important milestone that is necessary before commencing human clinical studies in early 2011,” CEO Anthony Giovinazzo said in a statement. Among other developments, Cynapsus [...]

MDS Nordion in pact with Russia’s Isotope

MDS’ (TSX:MDS; NYSE:MDZ) Nordion subsidiary has entered into a framework agreement with Isotope, the authorized subsidiary of Rosatom State Corp., to explore and define areas of collaboration in the field of supply, marketing and sale of isotopes produced in Russia. As a collaborative initiative, Isotope will supply mollybdenum-99 to MDS Nordion on an exclusive basis [...]

OncoGenex results in peer-reviewed journal

Phase 2 results of OncoGenex Pharmaceuticals’ (NASDAQ:OGXI) curtirsen drug, showing a survival benefit in patients with advanced prostate cancer, have been published in the Journal of Clinical Oncology. The median overall survival for patients who were treated with custirsen plus first-line docetaxel/prednisone chemotherapy was 23.8 months, compared with 16.9 months for patients treated with docetaxel/prednisone [...]

DiagnoCure partner files prostate test with FDA

DiagnoCure’s (TSX:CUR) corporate partner has filed a premarket approvalapplication with the FDA for the Progensa PCA3 assay, a new molecular test that may help determine the need for repeat biopsies in men suspected of having prostate cancer. DiagnoCure holds the worldwide rights to the PCA3 biomarker and in 2003, it granted an exclusive sub-license to [...]

Tekmira amends license pact with Hana

Tekmira Pharmaceuticals (TSX:TKM) has amended its licence agreement with Hana Biosciences (NASDAQ:HNAB), covering three legacy chemotherapy candidates licensed to Hana in 2006. Under the amendment, Hana will make a payment of $5.75 million (U.S.) to Tekmira in consideration for reducing certain future payments associated with the product candidates. Tekmira, in turn, will transfer the $5.75 [...]

Lorus pipeline in prime time

Lorus Therapeutics (TSX:LOR; OTCBB:LRUS.F) is putting the pedal to the metal and gearing up for a pivotal clinical trial by early 2011 and a Phase 1 clinical study for a first-in-class anti-cancer drug this year. “Our product potential has never been greater and we have a low cash burn rate,” CEO Dr. Aiping Young says [...]

Persistence buys 16% stake in Warnex

Persistence Capital Partners LP has acquired privately about 10.7 million common shares, or a 16% interest in Warnex (TSX:WNX), and $1.5 million of Warnex convertible debentures from SGF Soquia Inc. for investment purposes. Financial details weren’t disclosed but assuming conversion of the debentures, Persistence would hold about 19% of Warnex’s common shares. “We are excited [...]

Versant downgrades Transition to neutral

Versant Partners has downgraded Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) to “neutral” from “buy” and slashed its price target to $3.25 from $6.25, citing Transition’s decision to discontinue development of its lead diabetes drug after it underperformed in a Phase 1/2  clinical trial. The stock has dropped 18% to $3.25 Friday morning, after trading as low as [...]

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