Intrigue, Fraud Surround Death of Biotech Angel Investor, Neurocrine Biosciences Signs Two Big Deals, Regulus Therapeutics Signs Sanofi-Aventis Deal, & More San Diego Life Sciences News
San Diego’s life sciences community and angel investors are watching transfixed as investigators unfold the suspicious death of La Jolla resident John G. Watson. We also saw some huge funding deals over the past week, and we’ve summarized it all for you here:
—Carlsbad, CA-based Regulus Therapeutics announced a lucrative partnership with Sanofi-Aventis, the Paris-based pharma giant, to discover, develop, and someday co-market microRNA drugs. Sanofi agreed to pay Regulus as much as $750 million in milestone payments, eclipsing the $600 million deal Regulus struck with GlaxoSmithKline in 2008.
—Kent Keigwin, a 59-year-old financial advisor, appeared in a San Diego County Superior Court yesterday to face identify theft, grand theft and forgery charges. San Diego Police say Keigwin posed as John G. Watson, a retired biotech executive and local angel investor, and illegally transferred $7.5 million out of Watson’s brokerage account. Watson, who was 65, was found dead in his La Jolla home on June 8.
—San Diego’s Neurocrine Biosciences (NASDAQ: NBIX) granted worldwide rights to experimental diabetes drugs to German drug maker Boehringer Ingelheim in a deal that could be worth as much as $225 million. In a separate deal, the U.S. drug giant Abbott Laboratories agreed to pay Neurocrine up … Next Page »