BioPharma

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Naurex Raises $80m in Series C Financing Round

Naurex Inc., a biopharmaceutical company leveraging its uniqueplatform to develop novel drugs for diseases of the central nervous system (CNS), today announced thecompletion of an $80 million Series C financing round. New investors participating in the round include Cowen Investments, EcoR1 Capital, Goudy Park Capital,Portola Capital Partners and Sabby Capital. Existing investors also participated in…

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Takeda gets a ‘breakthrough’ tag for PhIII rare disease drug

With its bottom line getting squeezed and big budget cuts looming, Takeda and its new president, Christophe Weber, issued some upbeat news today for a change. The FDA has branded its top late-stage drug prospect ixazomib (MLN9708)–a multiple myeloma treatment designed to succeed the top-selling blockbuster Velcade–as a “breakthrough” therapy deserving VIP status with regulators.

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Is Amgen The Next Big Split?

First Abbott split and created AbbVie, then Baxter with Baxalta, is Amgen up next? I am placing best the new spin off will be called Pmgen. Hedge fund manager Daniel Loeb is lending his voice to the chorus of investors who believe Amgen ($AMGN) would do better as two companies. And his firm, Third Point,…

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FDA Extends Exclusivity for Certain Combo-Meds

What’s two extra years of exclusivity worth? Enough to spark a legal fight. The FDA posted new guidance on its website Friday, awarding certain combo meds 5 years of exclusivity compared with the previous three. Drugmakers had lobbied for the change, but the timing–and the wording–are bound to be controversial.

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Are Shire and AbbVie on the Outs?

Following Shire plc’s (“Shire”) waiver of the three-day notice period, AbbVie Inc. (“AbbVie”) (NYSE: ABBV) announces today its Board of Directors’ withdraws its recommendation made on July 18, 2014 regarding the proposed Shire transaction and recommends that stockholders vote against the transaction.

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