Lot’s of deals to roundup, so let’s get to it:

• Santen has licensed tafluprost, a prostaglandin analog for the treatment of glaucoma, to Merck. The financials of the deal were not disclosed. Tafluprost is a preserved and preservative-free formulation so we assume this was Merck’s primary interest for signing the deal. Preservatives in eyedrops have been shown to cause long term ocular side effects such as cataracts. [PharmaTimes]

• Synageva BioPharma, whose technology platform, SEP, is used for expressing complex therapeutic proteins, has pulled in $30M for its first financing. The funds will be used to advance its lead program, SBC-014, a glycosylated granulocyte colony-stimulating factor (G-CSF) that is in Phase II trials to treat cancer. Baker Brothers Investments, Tullis Dickerson and Four Partners led the financing. [BusinessWire]

• Accera, Inc has spun off Neuera Pharmaceuticals to focus on development of AC-0523 and AC-8632 for neurology indications. Neuera Pharmaceuticals will operate as a wholly owned subsidiary and plans to complete a $12M series A financing round. [PR Newswire]

• Lycera Corp. has announced the closing of a $36M Series A financing. The company, which is developing novel small-molecule pharmaceuticals to treat autoimmune diseases such as rheumatoid arthritis and inflammatory bowel disease, has received $10 million as a first tranche of the financing and will receive the remainder of the proceeds in two tranches as specific milestones are met. InterWest Partners, ARCH Venture Partners and Clarus Ventures co-led the financing. EDF Ventures, which led a seed financing in November 2006, is also participating. The company’s molecules will focus on targeting the newly discovered Th17 inflammatory pathway. [Genetic Engineering & Biotechnology News]

• Pharming Group (NYSE Euronext: PHARM) announced that it entered into a Standby Equity Distribution Agreement (SEDA) with Yorkville Advisors Global Master SPV LTD. At the sole and exclusive discretion of Pharming, this agreement provides Pharming the option to take up YA Global’s commitment to subscribe and pay for newly issued Pharming shares up to a total of EUR 20M ($26M USD) at any time during the 36 month agreement. [BioSpace]

• Ensemble Discovery has struck a $40M+ deal with Bristol-Myers Squibb with $5M being paid upfront. Ensemble’s technology focuses on Ensemblins, a new class of drugs that are hybrids between small molecules and biologics. The goal is to create a small molecule-like drug that can hit biologic targets that are not accessible by current small molecules. Some of the targets are reachable by biotech drugs, biologics, etc., but are hard to treat using protein-based drugs because they are lifelong chronic diseases. [Xconomy]

• Finally, Cortex Pharmaceuticals (NYSE Amex: COR) announced that it has obtained a commitment to purchase shares of a newly-designated series of convertible preferred stock pursuant to a registered direct offering to a single institutional investor, representing gross proceeds of approximately $1.5M. Subject to certain ownership limitations, the preferred stock is convertible into shares of Cortex at the option of the investor at a price of $0.17 per share. [Genetic Engineering & Biotechnology News]

Image from thrivesmart

Related Posts