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Top Stories Monday, July 11, 2016 Small cap Sorrento Therapeutics just raised $150 million last month and also created a CAR-T joint venture in China. Now, the San Diego, CA-based company has nabbed a partnership with France’s Servier to develop products based on Sorrento’s immuno-oncology anti-PD-1 monoclonal antibody STI-A1110. Monday, July 11, 2016 The largest generics player in Japan, Nichi-Iko Pharmaceutical, will snap up Sagent Pharmaceuticals for about $736 million, a 40% premium to its last closing share price. The deal is expected to give Nichi-Iko more access to the U.S. market for its biosimilar pipeline and injectables as the company aims to become a major global generics player. Monday, July 11, 2016 French NASH and fibrosis disease biotech Inventiva is looking to build on its Big Pharma interest by filing for an IPO on the Euronext. Monday, July 11, 2016 Sucampo Pharmaceuticals said it will kill off development of its lead experimental drug cobiprostone after another midstage trial showed it produced no clinical benefit, this time in oral mucositis. Monday, July 11, 2016 Celyad has struck a $306 million deal with Ono Pharmaceutical for the rights to its allogeneic NKR-2 T-cell immunotherapy in Japan, Korea and Taiwan. The deal gives Celyad an upfront cash boost and a source of ongoing income at a time when it is trying to recover from the late-phase failure of its heart failure cell therapy. Monday, July 11, 2016 IPO headwinds? What IPO headwinds? In a market that has blown away many biotechs seeking to go public, the pharma services industry continues to buck a negative trend as Patheon sets its terms for an eye-watering $625 million initial public offering. | | | Californian preclinical biotech Audentes Therapeutics has set terms for its upcoming $75 million IPO. Story Redwood City, CA-based biosimilar biotech Coherus BioSciences has posted topline results from its follow-on pharmacokinetic and pharmacodynamic study of CHS-1701, a pegfilgrastim (Neulasta) biosimilar candidate. Release AbbVie has been given an FDA Rare Pediatric Disease Designation for ABT-414--a treatment for a type of pediatric brain tumor. Statement The Fred Hutchinson Cancer Research Center has appointed Microsoft CEO Satya Nadella as a member of its board. Release The NCI, Cancer Research UK, the Wellcome Trust Sanger Institute and the foundation Hubrecht Organoid Technology are joining forces to develop the Human Cancer Models Initiative. Statement | |
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