Rodman sees higher small-cap biotech valuations

Citing the proposed acquisition of Anadys Pharmaceuticals (NASDAQ:ANDS) by Roche (NASDAQ: RHHBY) at a 260% premium, Rodman & Renshaw figures that Pharma’s strong balance sheet and expiring patents on blockbuster drugs “bring together the perfect storm of factors could lead to higher small-cap biotechnology valuations.” The Roche-Anadys acquisition highlights the “increasing appetite of pharmaceutical companies [...]

Dundee mulls the good and bad of Resverlogix’s Phase 2b Results

Following a sweeping sell off in Resverlogix (TSX:RVX) on Phase 2b clinical results with its RVX-208 cholesterol drug, Dundee Securities is sticking with its “buy, venture risk” rating, but with “increased caution” on the stock. Dundee doesn’t have a target price on the stock, which plummeted $1.89 just before the close on Tuesday and tumbled [...]

In conversation with Dr. Simon Pimstone

As CEO of Xenon Pharmaceuticals, Dr. Simon Pimstone and his partners have led the closely held Vancouver company on a journey of developing novel drugs that target genetically defined targets.  By studying genes responsible for rare and inherited diseases, Xenon figures they represent highly validated intervention points for new medicines.  In other words, going from [...]

Protox gets credibility boost from Warburg Pincus

An equity injection of up to $35 million from private equity giant Warburg Pincus represents a huge vote of confidence in Protox Therapeutics (TSX:PRX) and its lead PRX302 drug for enlarged prostate or benign prostatic hyperplasia (BPH), with the drug potentially able to target two other diseases: prostate cancer and prostatitis. “We went through an [...]

Analysts cut Cardiome price target

Versant Partners and Dundee Securities have lowered their price targets on Cardiome Pharma (TSX:COM; NASDAQ:CRME) after it and partner Astellas Pharma halted a 470-patient Phase 3 trial testing an IV formulation of vernakalant or Kynapid for rapid-onset atrial fibrillation. Versant Partners analyst Doug Loe writes that the decision was “clearly disappointing because halting (the trial) [...]

EU approves Cardiome’s Brinavess for IV

Cardiome Pharma’s (NASDAQ: CRME; TSX:COM) intravenous formulation of Brinavess has received marketing approval in the European Union, Iceland and Norway for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults. Patrick Magri, senior vice president, general manager, Cardiovascular Franchise, Merck (NYSE:MRK), said “we welcome this important milestone in our collaboration with [...]

Merck cancer vaccine a priority for Immunovaccine

Immunovaccine (TSX-V:IMV) is making a new clinical-stage cancer vaccine that it acquired from Germany’s Merck KGaA in June a development and regulatory priority as it formulates Merck’s survivin-based vaccine with its own DepoVax delivery system. “The reason we’re excited about it is that the National Cancer Institute ranks survivin as one of the top 25 [...]

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 [...]

Merck expands accord with Patheon

Contract drug maker Patheon (TSX:PTI) has signed an expanded contract manufacturing agreement with Merck (NYSE:MRK), making Patheon a “key preferred supplier” to Merck from eight of its global plants. “We have developed a great partnership with Merck and are very pleased that they have chosen to expand it with this contract manufacturing agreement,” CEO Wes [...]

In conversation with John Docherty

As President and COO of Helix BioPharma (TSX,FSE:HBP; OTCQX:HXBPF), John Docherty has been on both sides of the company’s lead topical product.  Early on, he ran Helix’s PharmaDerm Laboratories subsidiary, where the topical technology known as Biphasix was developed.  Then, he was one of the negotiators of a license from Schering-Plough for its interferon compound. [...]

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