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Novalar’s OraVerse for an undisclosed payment to Novalar and its investors, to be followed by milestone payments and royalties from continuing OraVerse sales.
—Incoming Verenium CEO James Levine told me the company must “go forward to profitability” as it moves its headquarters from the Boston area to San Diego and shifts its strategic focus to using biotech tools to develop industrial enzymes. Levine wants Verenium to broaden and diversify its product line, sign up new corporate partners, improve manufacturing processes, control expenses, get at least two products submitted for regulatory approval, and pay down its corporate debt. And that’s just this year.
—Luke offered a bit of evidence in his BioBeat column to refute critics who said the Obama Administration’s healthcare reform law would put a damper on new drug development. A Government Accountability Office report issued a year after the law was enacted shows that brand-name drug prices climbed by an annual average of 8.3 percent from 2006 through the first quarter of 2010.
—San Diego’s Accelrys (NASDAQ: ACCL) signed a partnership agreement with Oxford Nanopore Technologies that will make it possible to get real-time analyses of experimental data from Oxford’s single molecule analysis system.