FDA regulatory moves turned out to be the biggest news items over the past week, prompting San Diego’s Amylin Pharmaceuticals and CareFusion to respond separately to the agency’s actions. Get our latest assessment here, along with updates on venture funding, CEO pay, and the new museum-quality home for San Diego’s Avalon Ventures.
—Investors hammered San Diego’s Amylin Pharmaceuticals after the U.S. Food and Drug Administration refused to approve its formulation for exenatide once-weekly (Bydureon), which was expected to be a blockbuster diabetes drug. Amylin and partners Eli Lilly and Alkermes said they hope to gather all the data for a re-submission “by the end of 2011.”
—As Luke reported when the news broke, the FDA decision regarding exenatide once-weekly was a chilling signal for any life sciences company developing diabetes drugs.
—Testing a recently discovered pathway of cellular communications, San Diego’s CalciMedica plans to start an early stage trial next year of a once-daily oral pill designed for patients with moderate to severe psoriasis. CalciMedica’s experimental drug could also be useful someday for other chronic inflammatory diseases like rheumatoid arthritis, ulcerative colitis, and asthma.
—Venture Capital firms invested a total of $231 million in 32 San Diego companies during the third quarter that ended in September, with $129.7 million (56 percent) going to 17 life science companies (53 percent), according to the MoneyTree Report. Six of the top 10 deals of the quarter involved life science companies: Otonomy, AutoGenomics, Accumetrics, Auspex Pharmaceuticals, Cylene Pharmaceuticals, and Cebix.
—The MoneyTree Report on third-quarter venture funding echoes results that we reported earlier this week, showing $4.8 billion was invested in … Next Page »
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