Foundation Medicine has entered a co-development agreement with AstraZeneca to develop companion diagnostics assays for AstraZeneca’s anti-cancer medicines.
AstraZeneca will enrol the patients into clinical trials of therapies targeted to diseases with genomically-driven mechanisms, using Foundation Medicine’s genomic profiling assay for solid tumours.
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Marina Biotech has announced to acquire Turing Pharmaceutical’s Intranasal Ketamine Programme to further develop treatments for rare disorders such as neurological and psychiatric diseases.
According to the agreement, Marina Biotech will acquire all patents and intellectual property rights, clinical plans, regulatory documents and existing product inventories, and will pay approximately $95m to Turning Pharma as a part of success and sale-based milestones and royalty on net sales.
It has been further announced that Turning Pharma will receive 53,000,000 shares in Marina Biotech.
Viamet Pharma plans to offer 5.7 million common stock shares at a price value ranging from $14 to $16 per share to raise funds to develop its clinical developmental, research and development pipeline candidates.
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By GlobalDataIt also plans to utilise the funds to generate sufficient working capital, general corporate purposes and for other capital preservation investments.
The company expects that the initial public offering (IPO) will generate gross proceeds between $79.8m and $91.2m.
Phaserx has announced an initial public offering of 3,700,000 shares to raise funds up to $26m.
The company plans to use part of the funds to develop preclinical proof concept for the treatment of secondary urea cycle, further development of a urea cycle disorder product candidate, scaling up the drug manufacturing and also to develop preclinical activities.
A part of the proceeds will be used for general corporate purposes and to increase working capital.
Ideaya Biosciences plans to introduce new oncology therapies to the patients by investing the funds raised from a recently concluded series A financing round.
The financing was led by 5AM Venture Management, Canaan Partners, Celgene Corporation, WuXi Healthcare Ventures, Novartis institutes and Alexandria Real Estate Equities.
The company has raised gross proceeds of $46m throughout the deal.
Image: Foundation Medicine has entered a co-development agreement with AstraZeneca to develop companion diagnostics assays. Photo: courtesy of Erik031.
