Today's Top Stories Also Noted: Spotlight On... Top 5 Medical Device VC Deals, H1 2010 Chutes & Ladders: Signum names Shroot as CEO More Fierce Life Sciences News Today's Top News1. Developers zero in on the new 'bio-better' strategy
The Wall Street Journal's venture blog focuses on three upstart biotechs plotting to push programs on new "bio-betters," essentially second-gen biologics that can pull the market rug out from under some blockbuster meds. It's a simple strategy: find a new biologic that is safer and more effective than a top earner already on the market-perhaps delivered more easily for greater compliance--and you have a potential billion-dollar therapy on your hands. At Femta Pharmaceuticals the target is Actemra, an IL-6 receptor inhibitor (an antibody) for rheumatoid arthritis. Femta thinks it can go one better by blocking IL-6 altogether with an antibody that could be self-administered rather than injected. The UK's PolyTherics is focused on pegylation technology to ramp up the duration of a new and improved interferon alpha-2a for hepatitis. And Itero Biopharmaceuticals in San Mateo, CA is switching from biosimilars to bio-betters, though it isn't saying exactly what its first program will be. For the venture backers, one of the chief attractions of these bio-better programs is that they offer a classic de-risking for their investors. If you know the technology better and you've seen how it works in the clinic, they reason, chances are you have a better shot at goal. Bio-betters still require a long and very expensive trial program, though, which are always risky. And investors will also need to make sure that the new therapies offer a significant advantage over anything on the market, as payers are profoundly unhappy about anything that fits the profile of a me-too drug. - here's the WSJ report Related Articles: Read more about: PolyTherics, Itero Biopharmaceuticals, Femta, Biologics
2. Dicerna bags $25M Series B for next-gen RNAi work
Dicerna Pharmaceuticals has landed a $25 million Series B to fuel its work on a new and improved slate of gene-silencing therapies. Still in the preclinical stage, the Watertown, MA-based developer is focusing on solid tumors for its first clinical program. Launched three years ago, Dicerna has been building a new platform for RNAi work that relies heavily on longer molecules than the ones used by RNAi pioneers like Alnylam and Sirna. The longer molecules improve on the potency, duration of action and the ability to deliver its therapies, explains Martin Williams, Dicerna's chief business officer. Dicerna believes that that the dicer enzyme holds the key to a better approach to quelling disease-causing genes, building in a docking section that can bind to antibodies and other molecules--peptides, for example--that enable more precise drug delivery. That technology has attracted early interest from more established developers. And Dicerna plans to add new tech partnerships, building on the deals it has already struck with Kyowa Hakko Kirin and Ipsen. New investor Domain Associates led the round, with all existing investors--Oxford Bioscience Partners, Skyline Ventures and Abingworth - joining in. Since its launch Dicerna has raised an impressive $46.4 million. Even on a conservative basis, CEO Dough Fambrough tells FierceBiotech, Dicerna should be able to use this round to extend its runway out two or three years, with potential new partnerships adding fuel to cover the burn rate. Currently Dicerna has a staff of 25, which Fambrough expects will push up to around 30 with a few new hires. Ultimately, he says, there's no telling whether the company will stay independent or get bought out. But as the Sirna acquisition demonstrated, he adds, there's a big appetite for companies with a promising RNAi discovery platform, so an eventual buyout offer wouldn't come as a big surprise. "We are favorably impressed by Dicerna's management team and the progress it has made in developing differentiated RNAi technology, and in forming strategic alliances," said Domain Associates' partner Brian K. Halak, who is joining the board. "We believe Dicerna's broad Dicer Substrate Technology platform favorably positions the company to overcome the challenges of first generation approaches, and offers significant advantages over other technologies in the field in terms of potency, specificity and deliverability." - here's the Dicerna release Related Article: Read more about: Dicerna Pharmaceuticals 3. Biotech M&A frenzy shows no sign of slowing
With Genzyme in the news, we've all been hearing plenty about the wave of M&A deals that's been rolling through the world's life sciences industry. Last year, Thomson Reuters tracked more than 1,400 such deals worth $206 billion worldwide, giving the Boston Globe the hard numbers it needs to assert that this is one trend that has yet to crest. The reasons are more than obvious at this stage of the consolidation game. Pharma companies are desperate for new products to replace those big earners losing patent protection. And a big tie-up with another company provides new technology, new markets and new hope for expansion--case that Wall Street analysts demand from any market player. It also doesn't hurt that the old blockbusters on the market now have ginned billions in revenue, giving Big Pharma the kind of big bucks needed to strike new deals. Last year, Boston recorded about $5 billion in buyout deals, says the Globe, including the Sepracor acquisition. Of course, that would just be a fraction of a potential merger between Sanofi and Genzyme, which is likely to fetch around $20 billion if both parties could ever agree on a price. So far this week, though, there's been little new from that front, as insiders have grown uncharacteristically mum about any back-and-forth. - here's the Globe story Related Articles: Read more about: Mergers and Acquisitions, Biotech deals 4. Merck commits up to $289M for new Alzheimer's collaboration
Undaunted by its mixed results trying to come up with a new therapy for Alzheimer's, Merck has struck a $289 million deal with Canada's Alectos Therapeutics to collaborate on new molecules for the memory-wasting ailment and other disorders. The pact includes an upfront payment and milestones, but there was no breakout on the payments. The collaboration will target that modulate O-linked N-acetylglucosaminidase, an enzyme that is believed to be involved in the development of Alzheimer's disease. "We are delighted to establish a collaboration with the exceptional team at Merck to advance this potentially new, disease-modifying therapeutic approach for patients affected by Alzheimer's disease," said Ernest McEachern, the CEO of Alectos. "This is an important validation of our scientific leadership in this area and we look forward to working with Merck to realize the full value of this novel mechanism for a range of neuroscience disorders." Like other developers, Merck has experienced plenty of frustration trying to develop new therapies for the disease, an incredibly elusive target that afflicts a steadily growing number of seniors. - check out the Merck release Related Articles: Read more about: Alectos, Merck, Alzheimer's 5. Eli Lilly taking an axe to tech ops
Eli Lilly's plans for a new round of job cuts in Indianapolis apparently includes taking an axe to its technology operations. According to a report in the Indianapolis Star, the Big Pharma company told state officials that it plans new layoffs at its HQ, with more cuts at the north and south campuses of its technology center as well as its Intech Park campus. Lilly spelled out some of its plans in a letter to the Indiana Department of Workforce Development, making it clear that these are permanent cuts. As FiercePharma reports, Lilly has been shifting its workforce, laying off workers in the U.S. as it adds new staffers overseas. China, in particular, has been one of the emerging markets gaining plenty of attention from Lilly. - here's the Indianapolis Star report Related Articles: Read more about: layoffs, Eli Lilly Also NotedSPOTLIGHT ON... Top 5 Medical Device VC Deals, H1 2010
> Aegerion Pharmaceuticals has dusted off its old IPO plans. The developer has re-registered its $86.3 million offering, which it pulled after the 2008 market collapse. Aegerion is developing a new therapy, now in a late-stage trial, for a rare genetic disorder. Report > MannKind plans to sell 36.4 million shares to help pay down debt. The developer is waiting for the FDA's decision on its inhaled insulin therapy Afrezza. Story > With revenue from its China ops surging at a fast pace, Qiagen--which markets sample and assay technologies for biomarker development--says it's on track to see its Asian market cash flow double this year, according to a report from Seeking Alpha. And a recently formed partnership on molecular biomarkers with WuXi PharmaTech should help feed its swelling revenue stream. Report > Trigemina says that a small Phase IIa trial of TI-001 produced positive results as a treatment for chronic daily headache. Trigemina release > Researchers in Belgium have found another potential biomarker for detecting Alzheimer's. Using a spinal tap test, a team at Ghent University took samples of cerebrospinal fluid from 400 elderly individuals in varying states of dementia, and of the 102 participants considered to have Alzheimer's, 90 had an identical biomarker. Article And Finally... UK health officials say they're alarmed to see evidence of a new superbug that is resistant to almost all existing antibiotics. News
> Lilly calls latest Indiana job cuts 'permanent.' Article > Amgen drug flunks head-and-neck cancer trial. News > Novo Nordisk wins appeal in retaliation suit. Story > Genzyme extends timeline for plant overhaul. Article
> Boston Sci gets document request from grand jury. Article  > Researchers crack blood-brain barrier to treat tumors. Story > Metal-packing nanoparticles treat cancer, useful for MRI. Item > Elan's drug delivery unit takes on innovation. News
Signum Biosciences has appointed Braham Shroot, formerly CSO of Barrier Therapeutics, as CEO. Shroot replaces Gregory Stock, who will continue to remain active with the company as a member of the board. Signum release Renhuang Pharmaceuticals has announced that company CFO Yan Yi Chen has resigned for personal reasons effective immediately. Renhuang release Orexo has appointed Robin Wright as EVP head of finance, replacing Claes Wenthzel who, after five years in the group, has decided to leave the company for other assignments. Orexo release Invida Group has added three new members to the senior management team. Invida has appointed Sumeet Sud has been named chief marketing officer, a newly created position. In addition, Girdhar Balwani and Thomas Birsinger have been named country managers for India and Vietnam, respectively. Invida release The International AIDS Vaccine Initiative has tapped Michael Caulfield as executive director of the IAVI AIDS Vaccine Design and Development Laboratory. IAVI release CorMedix has appointed Robert Hopkins as head of clinical operations and project management and Dilip Wadgaonkar as head of product development and manufacturing. CoreMedix release Robert Baldini has been elected to K-V Pharmaceutical's board by a unanimous vote. K-V release Hana Biosciences has announced the appointment of Robert (Bob) Spiegel to the company's board. Spiegel was employed at Schering Plough for 26 years where he was deeply involved in clinical research culminating with his position as CMO. Hana release Novavax has announced the appointment of Richard Douglas to its board of directors. Douglas is currently senior VP, corporate development at Genzyme. Novavax release Generex Biotechnology has named Craig Eagle to its scientific advisory board. Generex release Bionovo has appointed James Pickar to its medical advisory board. Bionovo release Quantum Immunologics has announced that Wilhelmina Tribble is joining the board as the sixth independent board member. Quantum release
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@FierceBiotech: Report: China readies $1.5B plan to bolster biotech. 
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