Cubist and Alnylam Tackle RSV, Exact Sciences Fends Off Sequenom, An FDA Panel Backs GTC Biotherapeutics’ Goat-Milk Drug, & More Boston-Area Life Sciences News

1/14/09

New England’s life sciences firms unveiled some big deals and big plans this week.

Satori Pharmaceuticals raised $22 million from investors including InterWest Partners, Prospect Venture Partners, New Enterprise Associates, and PureTech Ventures (which launched the firm). The Cambridge, MA-based startup told Luke about its vision of becoming the first company to stop the progressive loss of memory and cognition caused by Alzheimer’s disease.

—Lexington, MA-based Cubist Pharmaceuticals (NASDAQ: CBST) agreed to pay Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: ALNY) $20 million, plus up to $82.5 million down the road in milestone-based payments, for the right to market RNAi-based drugs that Alnylam is developing to treat respiratory syncytial virus, or RSV.

—New Haven, CT’s Kolltan Pharmaceuticals closed a Series A round of venture financing worth over $35 million; the funding will help the startup develop cancer treatments based on the work of Yale University Medical School’s Joseph Schlessinger, a cofounder and director of the firm and its chief scientist.

—Marlborough, MA-based Exact Sciences (NASDAQ: EXAS) received—and rejected—a takeover offer from San Diego-based Sequenom (NASDAQ: SQNM). The deal, in which Sequenom proposed to give $1.50 worth of its own stock in exchange for each share in the Massachusetts maker of cancer diagnostics, valued Exact at about $41 million.

An FDA advisory panel recommended that the agency approve … Next Page »

Single Page Currently on Page: 1 2

By posting a comment, you agree to our terms and conditions.