RXi Sells Stock and Warrants, Cardiorobotics Raises $6.6M, ImmunoGen Dishes On New Drugs, & More Boston-Area Life Sciences News
Erin Kutz3/4/11Follow @erkutz
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RNA interference treatments, announced it priced a public offering of common stock and warrants, expecting to raise a total of $8.1 million. The net proceeds of $7.3 million will be used for general corporate purposes.
—Raynham, MA-based Cardiorobotics, a maker of a robotic catheter for heart procedures, raised $6.6 million of a $12.5 million round of equity- and rights-based funding.
—Boston-based Sproxil, a provider of a text message-based service for targeting medicine counterfeiting abroad, snapped up $1.8 million in funding from one investor, an SEC filing showed.
—Biotechs working on treatments for rare diseases are hopeful that Sanofi-Aventis’ $20.1 billion acquisition of Genzyme will bring attention to their field, Ryan wrote.
—A once-weekly injection of the Type 2 diabetes drug exenatide being developed by Waltham, MA-based Alkermes (NASDAQ: ALKS), San Diego-based Amylin Pharmaceuticals (NASDAW: AMLN), and Indianapolis drugmaker Eli Lilly (NYSE: LLY), didn’t stand up against an existing treatment in a head-to-head study. Patients on the weekly exenatide formulation, Bydureon, had only a 1.3 percent decrease in a blood marker called A1C compared with a 1.5 percent decrease among patients who took Novo Nordisk’s liraglutide (Victoza).
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