Angiotech Pharmaceutical Inc. (OTC:ANPI) is giving its creditors a few more days to mull over a settlement that would pay them pennies on the dollar for their stakes in the bankrupt firm.
Pharmaceutical
Weight loss: Does religion make you fat?
MASSDEVICE ON CALL — Regular attendance at religious activities at a young age can mean you’re twice as likely to become obese later in life, according to a study presented at an American Heart Assn. meeting.
The study by researchers at Northwestern University found that religiously observant young adults developed a higher risk of becoming obese than more secularly oriented people.
Cancer diagnostics: With proxy fight looming, can Neoprobe deliver the goods?
As cancer diagnostics firm Neoprobe (NYSE Amex: NEOP) prepares for a potential proxy fight with Platinum-Montaur Life Sciences, the company’s largest investor, it’s worth taking a look at the Dublin, Ohio-based company’s exit potential.
Mass. Life Sciences Center doles out another $3.8 million in loans
MASSDEVICE ON CALL — The Mass. Life Sciences Center, a quasi-public agency that oversees state dollars allocated toward increasing the life sciences industry’s footprint in the Bay State, doled out another $3.8 million in “accelerator” loans.
The program is designed to provide a boost to early-stage life science companies that the center’s scientific advisory board deems to have a high potential for commercialization, rapid growth and the ability to raise substantial capital.
Sluggish stent sales at Boston Scientific continue to afflict Angiotech
The best thing you can say about Angiotech Pharmaceutical Inc.’s (NSDQ:ANPI) fourth quarter is that it’s over.
Quintiles inks drug manufacturing deal with Samsung
Quintiles is partnering with Samsung Group on a $266 million initiative to bring the South Korean conglomerate into the drug manufacturing business.
Durham, N.C.-based Quintiles provides an array of services for pharmaceutical companes and is the largest contract research organization in the industry. Quintiles spokesman Phil Bridges said that the company’s involvement with Samsung is a $30 million stake in the effort.
Feds grab $17 million worth of ear infection drug from N.C. company
Federal marshals seized $16.5 million worth of drugs from Chapel Hill, N.C.-based Deston Therapeutics that the Food & Drug Administration says the firm was selling without its approval.
U.S. Marshals seized all lots of Auralgan Otic Solution from a Deston warehouse in Brooks, Ky., Feb. 16. Auralgan is a prescription drug used to treat pain and inflammation associated with ear infections.
Aerogen and Dance Pharma to co-develop insulin inhaler
Aerogen Ltd. and Dance Pharmaceuticals signed a deal to develop an insulin inhalation device for diabetics.
The companies’ planned product would allow millions of diabetics to avoid sticking themselves with needles several times a day to treat the disease with insulin injections.
Osteologix exits stock market, U.S.
Osteologix Inc. (OTC:OLGX) decided to pull up stakes in the U.S. and remove its stock from public trading.
In an effort to cut costs, the company plans to deregister its stock on the NASDAQ exchange and close its U.S. office in Glen Allen, Va., in order to consolidate into its Dublin, Ireland-based subsidiary Osteologix Holdings Ltd.
FDA wants home runs from drug combinations
Could the next “blockbuster” drug be a combination of existing therapies? The Food & Drug Administration seems to think so.
The federal watchdog agency issued draft guidelines yesterday intended to encourage pharmaceutical companies to develop therapies from drug combinations.
The agency feels that despite the increased risk involved in combining pharmaceutical treatments, there are benefits to treating serious diseases such as cancer.
Clinical Data sheds last assets of genetics and testing business
Clinical Data Inc. (NSDQ:CLDA) offloaded its its Familion testing and pharmacogenomics biomarker assetts to molecular diagnostics developer Transgenomic Inc. (OTC:TBIO) for $15.4 million, primarily in cash and notes.
The assets represent the last unit of Newton, Mass.-based Clinical Data’s non-pharmaceutical business.