October 3, 2011
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Welcome to your Monday Biotech Deal Review for October 3, 2011. Last week witnessed a flurry of financing activity, with over $50M closed. As well, the competing take-over bids between Paladin and Valeant for Afexa heated up with both Valeant and Paladin sweetening their offers to Afexa shareholders. Read on to learn more. Read more of this post
January 14, 2010
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One of the industry trends we’re following in 2010 is the increasing commercialization activity by non-profit foundations. The Juvenile Diabetes Research Foundation has been taking active and creative approaches to funding treatments for their constituents. Last month, JDRF in Canada partnered with a government funding agency to create a clinical trials network in Ontario; and today, an AP story at PharmPro reports that JDRF in the U.S. is bringing together two corporate partners to develop an artificial pancreas.
JDRF has been funding work on an artifical pancreas since about 2006; but this latest initiative moves the focus over to commercialization.
Johnson & Johnson’s Animas Corp. unit (responsible for insulin pumps), and glucose monitor maker DexCom will work together on a device about the size of a cell phone that would be worn outside the body, with initial patient testing potentially beginning in less than a year.
JDRF is putting $8 million towards the project over the next three years, but they did not disclose either the amounts of the corporate commitments or the allocation of revenues from the project.
July 3, 2009
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An article in Mass High Tech yesterday points to the trend we’ve been following of increasing commercialization activity by non-profits, but looks at things from the foundations’ point of view. While the economic crisis is, as expected, causing companies to seek out more foundation funding, those collaborations are having as much trouble as the rest of the biotech world:
- The Cystic Fibrosis Foundation had to reclaim rights from Altus Pharmaceuticals, and spent $3 million continuing a Phase 3 trial while looking for a new partner;
- The Michael J. Fox Foundation is putting more money than it planned into its corporate ventures because of the dearth of for-profit investors; and
- the Juvenile Diabetes Research Foundation has “had to walk away from some really good science” at companies that look “too vulnerable financially.”
The article also has a good list of foundation-biotech collaborations:
Cystic Fibrosis Foundation with Alnara Pharmaceuticals, Epix Pharmaceuticals, FoldRx Pharmaceuticals;
Michael J Fox Foundation for Parkinson’s Disease Research with Alnylam Pharmaceuticals, FoldRx Pharmaceuticals Inc., NeuroHealing, LINK Medicine and Codman & Shurtleff;
Leukemia and Lymphoma Foundation with FoldRx Pharmaceuticals Inc.; and
Juvenile Diabetes Research Foundation with Tolerx Inc., Smart Cells Inc.