Financings
• AEterna Zentaris Inc. is raising $10 million through the registered direct sale of stock and warrants.
• Cell Therapeutics Inc. will exchange about $52.9 million worth of convertible notes for cash and stock.
• Dyax Corp. gained $15 million in a public offering.
• EpiCept Corp. is raising $8.9 million through the registered direct sale of stock and warrants.
• GTC Biotherapeutics Inc. got $12.3 million through a debt and equity deal with current shareholder Laboratoire français du Fractionnement et des Biotechnologies SA. LFB has an option to provide another $6.4 million.
• Halozyme Therapeutics Inc. raised $40 million by selling 6.15 million shares at $6.50 each.
• Sagent Pharmaceuticals Inc. entered a $15 million revolving credit facility with MidCap Financial LLC.
Deals
• Avigen Inc. and MediciNova Inc. reached a non-binding merger agreement.
• Chroma Therapeutics Ltd. signed a deal worth up to $1 billion with GlaxoSmithKline plc for autoimmune and other inflammatory diseases.
• Cordex Pharma Inc. saw its shares (OTCBB:CDXP) shoot up 143 percent (30 cents) after granting Clinical Trials International LLC certain European rights to in vitro fertility drug ATPotent.
• Laboratory Corp. of America Holdings bought Monogram Sciences Inc. in a takeover valued at about $155 million.
• NeurogesX Inc. got $42 million up front in a potential $145.5 million deal with Astellas Pharma Inc. for European rights to capsaicin pain patch Qutenza (capsaicin 179 mg).
• Protein Sciences Corp. bagged a $35 million contract from the U.S. Dept. of Health and Human Services, as creditors clamored for bankruptcy.
. . . And More
• Amicus Therapeutics Inc. started a Phase III trial with Amigal (migalastat) for Fabry disease.
• Apthera Inc. secured a special protocol assessment from the FDA for the Phase III trial with its peptide-based NeuVax in early-stage breast cancer.
• Biogen Idec Inc. started a Phase III trial of PEGylated interferon beta-1a (BIIB017) in relapsing multiple sclerosis.
• Cephalon Inc.'s pivotal trial of kinase inhibitor lestaurtinib (CEP-701) in acute myelogenous leukemia failed.
• Eurand NV said the FDA needs three more months to review the pancreatic enzyme replacement drug Zenpep (pancrelipase capsules).
• Forest Laboratories Inc.'s antibiotic ceftaroline met its noninferiority endpoints compared to ceftriaxone in two Phase III community-acquired bacterial pneumonia studies.
• Insmed Inc.'s stock sank more than 50 percent on word that its Iplex failed in a Phase II trial against myotonic muscular dystrophy.
• Jazz Pharmaceuticals Inc. unveiled a second set of strong Phase III data with Xyrem for fibromyalgia.
• The Medicines Co. got pediatric exclusivity for thrombin inhibitor Angiomax (bivalirudin), holding off generics until September 2010.
• Merck KGaA started a Phase III breast cancer trial with Oncothyreon Inc.'s cancer vaccine Stimuvax.
• Osiris Therapeutics Inc.'s adult mesenchymal stem cell candidate Prochymal yielded good safety data but unfavorable efficacy data in Phase II trials for chronic obstructive pulmonary disease.
• Prospect Therapeutics Inc. is selling its assets at auction.