Anthera Pharmaceuticals, a specialty pharmaceutical company developing therapies for the treatment of serious inflammatory diseases, today announced it closed an initial $36 million in venture financing. The funding was co-led by VantagePoint Venture Partners and Sofinnova Ventures and are joined by Pappas Ventures, Mitsubishi International Corporation, along with Series A-1 investors Sears Capital Management and SIM Equity. Eli Lilly and Company and Shionogi & Co., Ltd. also received equity as part of Anthera’s obligations under the recently announced license agreement. Annette Bianchi, Managing Director, and co-Head of VantagePoint’s Healthcare Practice Group and Jim Healy, General Partner of Sofinnova Ventures were named to the Board of Directors.
Anthera Pharmaceuticals secures $36m venture financing to initiate clinical programs
Dynogen initiates phase 1b trial of DDP733 in gastroesophageal reflux disease (GERD)
Dynogen Pharmaceuticals, Inc. announced today that dosing has begun for a double-blinded, placebo controlled Phase 1b trial designed specifically to examine DDP733 on the functional changes associated with gastroesophageal reflux. In addition to examining safety, the trial will be powered to yield important efficacy data to support the use of DDP733 as a treatment for nocturnal gastroesophageal reflux (NGERD). Dynogen is developing DDP733 for NGERD as an adjunctive treatment with current GERD therapies. DDP733 is also being studied by Dynogen for irritable bowel syndrome with constipation (IBS-c) in a Phase 2 clinical study.
Anthera licenses anti-inflammatory products from Eli Lilly and Shionogi
Anthera Pharmaceuticals, Inc., a privately held biopharmaceutical company developing anti-inflammatory drugs, announced today that it has entered into a license agreement with Eli Lilly and Company and Shionogi & Co., Ltd. under which Anthera has obtained worldwide (except for Japan) development and commercialization rights to an entire platform of clinical and preclinical inhibitors of phospholipase A2 (PLA2) developed by Lilly and Shionogi as part of their collaboration. Inflammation plays a central role in a number of life-threatening diseases including acute lung injury, atherosclerosis, and psoriasis. PLA2 consists of a family of enzymes upstream in the arachidonic acid pathway of inflammation, which is responsible for production of leukotrienes, oxidants and other pro- inflammatory mediators. A substantial evidence base specifically implicates PLA2 in each of the disease states addressed by Anthera’s development programs -- the most advanced of which is an early intervention therapy in acute chest syndrome in patients with sickle cell disease.
Panacos Announces Study Elucidating PA-457's Mechanism of Action Published in Journal of Virology;Findings Corroborate Novel Target and Support Further Maturation Inhibitor Development
Panacos Pharmaceuticals, Inc. (Nasdaq: PANC), a biotechnology company dedicated to developing the next generation of antiviral therapeutic products, today announced the publication of an article authored by Panacos scientists and Dr. Michael Sakalian and colleagues at the University of Oklahoma Health Sciences Center in the June 2006 issue of the Journal of Virology. The article describes the results of a study elucidating the mechanism of action of PA-457, Panacos' lead drug candidate. PA-457 is the first in a new class of HIV drug candidates called Maturation Inhibitors that are designed to prevent the release of a key viral protein called Capsid from its precursor protein, Gag.
FDA Grants Cerexa Fast Track Designation for PPI-0903
Cerexa, Inc. today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for PPI-0903, a next-generation, broad-spectrum, cephalosporin antibiotic, for the treatment of complicated skin and skin structure infections (cSSSI) caused by methicillin-resistant Staphylococcus aureus (MRSA). Cerexa initiated a Phase 2 trial of PPI-0903 for the treatment of cSSSI in October 2005. Under the FDA Modernization Act of 1997, the Fast Track program of the FDA is designed to facilitate the development and expedite the review of a new drug that is intended for the treatment of a serious or a life-threatening condition, and demonstrates the potential to address unmet medical needs for such a condition.
CoLucid Pharmaceuticals Announces $16.5 Million Series A Financing
CoLucid Pharmaceuticals, Inc., a biopharmaceutical company focused on new therapeutics for neurological diseases, announced a $16.5 million Series A financing. The company was formed with a novel clinical stage migraine molecule licensed from Eli Lilly and Company and a portfolio of preclinical assets based on a robust bifunctional neuromodulator chemistry platform, which originated at Sention, Inc. Pappas Ventures seed funded and formed the company. The Series A financing was co-led by Domain Associates and Pappas Ventures with other investors including Triathlon Medical Ventures and Pearl Street Venture Funds.
Significant Decision Gives Patients Better Access to LipoScience's Heart Disease Test
The Centers for Medicare & Medicaid Services (CMS) announced a Medicare reimbursement rate for CPT code 83704, a new code that describes the main component of the NMR LipoProfile® test. This test is used to help identify patients at risk for heart disease and determine optimal cardiovascular drug therapy. Earlier this year, the American Medical Association's (AMA) Current Procedural Terminology (CPT) Editorial Panel established a unique Category I code, 83704, described as "the quantitation of lipoprotein particle numbers and lipoprotein subclasses when measured (e.g. nuclear magnetic resonance spectroscopy)." The establishment of a new code and a CMS payment rate are key steps in making new medical technologies more widely available to patients.
CeNeRx BioPharma Announces $18.5 Million Series A Financing
CeNeRx BioPharma, Inc., a start up bio-pharmaceutical company focused on developing new therapeutics for disorders of the central nervous system, today announced the completion of $18.5 million in series A financing.
After Change Up Top, Syntonix Inks Boehringer Ingelheim Deal Worth Up to $63M
After a management change over the summer, drug formulation and delivery company Syntonix Pharmaceuticals Inc. has kicked off autumn with a collaboration with Boehringer Ingelheim GmbH that could bring in as much as $63 million.
Syntonix and Boehringer Ingelheim Enter Collaboration for Up to $63 Million to Optimize Therapeutic Peptide Candidates for Inhalation
Syntonix Pharmaceuticals, Inc. and Boehringer Ingelheim announced today that they have entered into a collaboration to optimize certain Boehringer Ingelheim therapeutic peptides for inhalation, using Syntonix’ SynFusionTM and TransceptorTM technologies. Under the terms of the agreement, Syntonix will receive an upfront fee and research support. Boehringer Ingelheim has the option to develop and commercialize the peptide candidates. Syntonix will receive milestone and royalty payments on any products developed and commercialized under the agreement.
