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December 12, 2016

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Today's Rundown

  1. Ophthotech’s anti-PDGF med fails late-stage combo tests in wet AMD

  2. Bayer, Versant join forces on $225M Series A for stem cell upstart

  3. After Woodford takes a bath on NW Bio, British investor decides to towel off

  4. Ex-Google Ventures boss Bill Maris drops $230M life science fund plans

  5. Seattle Genetics chalks up first clinical trial success in solid tumors

  6. Bioinvent back to drawing board as it pulls trial of lead drug for myeloma

  7. Changing the color of fat to fight obesity and diabetes

  8. Philips to unload Lumileds lighting biz to Apollo for $2B

  9. Alexion replaces CEO, CFO amid Soliris sales fraud investigation

Featured Story

Ophthotech’s anti-PDGF med fails late-stage combo tests in wet AMD

Ophthotech has seen its share price decimated after it announced over the weekend that its big hope, and what much of its financing has been centered around in recent years, failed to help wet AMD patients see better when used with Novartis’ blockbuster VEGF med Lucentis (ranibizumab).


Top Stories

Bayer, Versant join forces on $225M Series A for stem cell upstart

In one of the biggest Series A funding rounds ever recorded for a biotech, Germany’s Bayer and Versant Ventures have stumped up $225 million for the launch of BlueRock Therapeutics.

After Woodford takes a bath on NW Bio, British investor decides to towel off

Neil Woodford, who has seen his light dim in 2016 as a “star fund manager”, signalled in a brief update with the The Times newspaper that he was to stop investing in the moribund biotech NW Bio after seeing his original investment decimated.

Ex-Google Ventures boss Bill Maris drops $230M life science fund plans

Just a week after the former CEO of Alphabet’s venture arm GV was said to be plotting a $230 million life sciences and healthcare fund, Bill Maris has confirmed to news site Recode that he will now be dropping his plans.

Seattle Genetics chalks up first clinical trial success in solid tumors

Seattle Genetics could move beyond its core focus in blood cancers and into the solid tumor setting, if positive early-stage data is backed up by further trials.

Bioinvent back to drawing board as it pulls trial of lead drug for myeloma

Swedish biotech BioInvent's worst fears have been realized after it was forced to terminate a trial of its lead drug—multiple myeloma therapy BI-505.

Changing the color of fat to fight obesity and diabetes

Over the past decade, scientists have learned an important lesson about fat cells: Their color plays a vital role in metabolic health. Too much white fat causes obesity and other complications, like diabetes and heart disease. Brown fat burns energy and protects against obesity. Scientists at the University of Pennsylvania may have found a pathway for turning white fat brown.

Philips to unload Lumileds lighting biz to Apollo for $2B

Philips is selling a majority stake of its lighting business, Lumileds, to Apollo Global Management for $2 billion, including debt. The deal comes nearly a year after the company’s bid to offload Lumileds to a Chinese firm fell through due to pressure from U.S. regulators.

Alexion replaces CEO, CFO amid Soliris sales fraud investigation

Alexion still hasn’t wrapped up its internal investigation of a former employee’s sales fraud allegations. But in the meantime, its CEO and CFO are hitting the road.

News of Note

Ipsen's EVP and CSO Claude Bertrand is out the door to join another company, as SVP of global drug devleopment Alexandre Lebeaut leads the R&D division in the interim. Release

Accelerator Corporation said it has injected $7 million into a Series A round for cancer resistance therapy biotech ApoGen Biotechnologies. Statement

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