Alkermes Drug Approved for Opioid Addiction, Genzyme Faces Shareholder Lawsuits, NinePoint Gets $33M, & More Boston-Area Life Sciences News

10/15/10Follow @xconomy

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big pharma companies, the future of gene-silencing drugs, and breakthroughs inthe war on cancer.

—It seems there’s not a week without Genzyme (NASDAQ: GENZ) news around here. This week, the Cambridge, MA-based biotech is facing lawsuits from shareholders regarding its rejection of French drugmaker Sanofi-Aventis’ $18.5 billion buyout offer, according to federal documents. In the SEC filings, the investors note that in turning down the deal, Genzyme deprived shareholders “of the opportunity to realize fully the benefits of their investment in the company”

—Ryan took a look at Cambridge-based Galenea, a biotech researching schizophrenia and other neurological disorders that has flown relatively under the radar. The startup—which is completely owned by its founders, employees, and Japanese drug maker Otsuka Pharmaceutical—was founded by MIT professor and Nobel laureate Susumu Tonegawa.

—Cancer drug development field expert Mike Huckman, a former CNBC correspondent and three-time Emmy award winner, has been added to the speaker lineup for the Xconomy Forum “Boston’s War On Cancer.” He joins the discussion on the New England cancer research landscape with execs from biotechs like Dicerna Therapeutics, Millenium: The Takeda Oncology Company, Quanterix, Constellation Pharmaceuticals, and many more.

—Cambridge-based device startup NinePoint Medical revealed it had raised $33 million in Series A funding from Third Rock Ventures and Prospect Venture Partners. NinePoint is working on optical devices that could enable doctors to inspect potentially cancerous cells inside the body during procedures like biopsies, and also enable doctors to remotely review tissue images from procedures done elsewhere. The startup said it will hire 25 new employees over the next year.

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