advanced drug candidates (or already approved ones for different diseases). It’s also scaling back investments in diagnostics and medical devices.
—Cambridge-based Bluebird Bio (NASDAQ: [[ticker:BLUE]]) said this week that the National Institute of Health Recombinant DNA Advisory Committee has advised the company to wait one to two years—while accumulating more data on its gene therapies—before starting a trial in the U.S. on children with beta-thalassemia. Bluebird isn’t bound to the committee’s recommendation, however. You can read more at TheStreet.com, and check out this piece for a detailed look at Bluebird’s clinical plans.
—Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) paid Michigan’s Lycera $82.5 million up front an option to license a group of drugs for cancer and immune-mediated diseases (such as inflammatory bowel disease) and potentially buy the company outright later on. Sarah Schmid spoke with Lycera founder and outgoing chief scientific officer Gary Glick about the deal, and the journey he’s been through at Lycera.
—Cambridge-based Sage Therapeutics (NASDAQ: [[ticker:SAGE]]) said that SAGE-547, a drug it’s developing for rare epilepsies and other disorders, may have helped reduce post-partum depression in four patients in an early, open-label, exploratory study. Sage now aims to test that theory in a placebo-controlled trial with a different formulation of the drug. Shares surged more than 15 percent after the disclosure; Forbes has more here.
—Two local RNA interference drug developers, Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]) and Dicerna Pharmaceuticals (NASDAQ: [[ticker:DRNA]]) took to court this week after Alnylam sued Dicerna for allegedly misappropriating trade secrets. Specifically, Alnylam claimed that ex-Merck scientists hired by Dicerna brought confidential information with them about a subcutaneous method of delivering RNAi drugs, enabling Dicerna to develop a technology it wouldn’t have otherwise. Those scientists worked at Sirna Therapeutics, the RNAi group Merck bought several years ago and later sold to Alnylam (Alnylam claims, in documents, to have beat out Dicerna in the bidding for Sirna). Dicerna denied those claims, and claimed that Alnylam sued it “based on assumptions rather than facts.” For more check out The RNAi Therapeutics Blog.
—Two local biotechs tapped Wall Street for cash this week: Ironwood Pharmaceuticals (NASDAQ: [[ticker:IRWD]]) sold $300 million in convertible notes, and Amicus Therapeutics (NASDAQ: [[ticker:FOLD]]) raised $225 million in a stock offering.
Photo of Boston courtesy of TMAB2003 via Creative Commons.
