• The WSJ does its take on biotech M&A, gives advice for start-ups. IguanaBio’s advice: don’t do it! [WSJ Venture Capital Dispatch]

• Dermatology start-up Magen Biosciences sells itself for less than it raised in its first round. The company acquired dermatology assets from Lilly in 2007, but never really did anything. [Xconomy]

• Canadian biotechs are dying, and so are the VC’s who fund them. No liquidity = death. [The Cross-Border Biotech Blog]

• The Federal Trade Commission wants more info from Pfizer before it finalizes its merger with Wyeth. [Bloomberg]

• Amgen loses appeals court bid to obtain a patent related to natural killer cells in bone marrow; ruling adds difficulty for biotechnology companies trying to obtain protection on DNA sequencing. [Los Angeles Times]

• Fen-phen lawyers guilty of swindling clients. [WSJ Law Blog]

• IguanaBio is famous! BNET ranks two of our posts in its monthly 10 Weirdest Drug Stories piece (#3 and #9). [BNET Pharma]

• Where’s the benjamins? The CRO industry is set to grow at annual rate of 14%. [FierceBiotech]

• Finally, Savient Pharmaceuticals said Friday it will sell 5.93M units to institutional investors in an effort to raise $31 million. The raise comes in advance of the company’s resubmission of its Biologics License Application (BLA) for KRYSTEXXA(TM) (pegloticase), a treatment for refractory gout. [PRNewswire]

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