Genstruct: Patience, Persistence, and Payoff

Genstruct: Patience, Persistence, and Payoff

March 19, 2008

Finding the right business model for systems biology (SB) technology providers has been challenging — that’s hardly a new theme in biotech. Most SB pioneers were founded as platform providers but soon encountered difficulties growing their sales sufficiently to increase valuations. Genstruct, a pioneer in using computational approaches to infer mechanistic hypotheses from large experimental data sets, is no exception.

BioSyntech announces positive preliminary interim data for BST-CarGel® clinical trial

BioSyntech, Inc. (“BioSyntech” or “the Company”) (TSX: BSY), a biotechnology company developing novel products in regenerative medicine, today announced it has received positive preliminary results from a prospectively planned six-month interim analysis of its Canadian-European pivotal clinical trial for BST-CarGel®. Results drawn from a 20 subject subset of the trial indicate evidence of a positive effect of BST-CarGel®treatment on cartilage structure when compared to the surgical control. The interim analysis also showed the safety of BST-CarGel® to be comparable to the control. The sole purpose of this interim analysis was to obtain pilot data for submission to the U.S. Food and Drug Administration (FDA) as a pilot study in support of an Investigational Device Exemption (IDE) for a U.S. pivotal trial for this medical device.

TyRx Pharma raises $25 million

Proceeds Will Support Commercialization of the AIGISrx™ CRMD AntiBacterial Envelope and Development and Launch of Additional Drug-Eluting Devices in the TyRx Pipeline

Monmouth Junction, NJ, (February 27, 2008) -- TyRx Pharma, Inc., a leader in the commercialization of implantable combination drug-device products, announced today that the Company has raised $25 million in a venture capital financing led by Clarus Ventures and co-led by Pappas Ventures. In connection with the financing, Jeffrey Leiden, M.D., Ph.D., Managing Director, and Scott Requadt, J.D., MBA, Principal, both of Clarus Ventures, and Arthur Pappas, Managing Partner, Pappas Ventures, will join TyRx's Board of Directors.

Athersys announces summary results for Phase 1 safety study of its novel obesity drug

CLEVELAND, Feb. 27, 2008 (PRIME NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) today announced top-line results from its Phase 1 clinical trial of ATHX-105, its orally administered drug candidate for the treatment of obesity. ATHX-105 was well- absorbed, providing good drug exposures, well-tolerated up to high doses, and had no negative effect on cardiovascular, hematology or other clinical parameters.

Genstruct announces new collaboration with Pfizer in drug safety

CAMBRIDGE, Mass., February 20, 2008 /PRNewswire/ -- Genstruct Inc., a systems biology company focused on identifying molecular mechanisms, networks and biomarkers to better understand large scale biology announced today that it has entered into a Master Research Agreement with Pfizer designed to cover current and future collaborations. The first collaboration under this new agreement is in the area of preclinical drug safety, focusing initially on a systems biology analysis of underlying mechanisms of drug-induced liver injury.

MethylGene and Pharmion announce orphan drug designation for treatment of acute myelogenous leukemia

Montreal, Quebec and Boulder, Colorado. February 14, 2008 – MethylGene Inc. (TSX: MYG) and Pharmion Corporation (NASDAQ: PHRM) today announced that the U.S. Food and Drug Administration (FDA) has designated the Companies' histone deacetylase (HDAC) inhibitor, MGCD0103, as an Orphan Drug for the treatment of acute myelogenous leukemia (AML) in the United States.

Apex Bioventures and Dynogen Pharmaceuticals announce definitive merger agreement

Public Company Will Have Portfolio of Late-Stage Gastrointestinal and Genitourinary Drug Candidates and Funding to Advance Compounds towards Phase 3 Pivotal Trials

HILLSBOROUGH, Calif. & WALTHAM, Mass.--(BUSINESS WIRE)--Apex Bioventures Acquisition Corp. (AMEX: PEX), a publicly traded special purpose acquisition company with healthcare industry expertise, and Dynogen Pharmaceuticals, Inc., a privately owned clinical stage biopharmaceutical company focused on gastrointestinal and genitourinary disorders, announced today the signing of a definitive merger agreement.

Anthera enters into manufacturing agreements for Varespladib in preparation for pivotal Phase 3 trials

SAN MATEO, CALIFORNIA - JANUARY 31, 2008 - Anthera Pharmaceuticals, Inc. today announced it has entered into manufacturing agreements with Albemarle Corporation and Patheon Inc. The agreements provide for the large-scale clinical production of Varespladib (A-002), which is expected to be necessary in preparation for Anthera’s Phase III clinical trials and planned New Drug Application submission to the Food and Drug Administration. Varespladib is Anthera’s oral drug candidate for the treatment of cardiovascular disease.

Dynogen expands DDP225 patent estate

WALTHAM, Mass., January 16, 2008 --(BUSINESS WIRE)-- Dynogen Pharmaceuticals, Inc. today announced that the Company has acquired from Arachnova Therapeutics, Ltd. all of its worldwide patent rights and know- how related to DDP225 in an asset purchase agreement. The Arachnova patent rights, which include granted patents and pending applications related to the use of DDP225 for the treatment of functional bowel disorders, genitourinary (GU) disorders and pain, complement and enhance Dynogen’s existing extensive worldwide patent estate related to DDP225. Financial terms of the agreement were not disclosed.

Anthera announces preliminary positive results from once-daily A-002 Phase 2 cardiovascular trial

SAN MATEO, CA – January 15, 2008 – Anthera Pharmaceuticals, Inc., a privately-held biopharmaceutical company, reported preliminary results of a second Phase IIb clinical trial of A-002, for the treatment of cardiovascular disease. In this second study, administration of once-daily A-002 lowered both sPLA2 and LDL-C levels confirming the positive effects of A-002 treatment seen in the twice-daily PLASMA study (Phospholipase Levels And Serological Markers of Atherosclerosis) announced in October 2007.