firm’s early stage, high-risk biotech venture activity, which is based in the California office. Last fall, the venture group closed a $262 million fund dedicated solely to early stage life science companies.
— In other biotech venture news, Arch Venture Partners is gearing up to raise $400 million for a new fund, which would be its ninth, according to a regulatory filing spotted by Fierce Biotech. Arch’s biotech team is based in Seattle.
—BioMarin said it hopes to seek FDA approval by the end of the year for its drug pegvaliase, which showed a 62 percent improvement in reducing levels of the amino acid phenylalanine in the blood of patients with Phenylketonuria, or PKU. Phenylalanine can build up to dangerous levels in people with PKU, leading to a host of other health problems, including mental impairment. But the Phase 3 study of 86 PKU patients didn’t meet any secondary goals, and the company said its filing is subject to further discussion with the FDA.
—Portola Pharmaceuticals (NASDAQ: [[ticker:PTLA]]) of South San Francisco, CA, said Thursday its oral anti-blood clot betrixiban failed to meet safety and efficacy goals in a Phase 3 study comparing it to the injectable standard of care enoxaparin for acutely ill, hospitalized patients. The two patient groups had no statistical difference in major bleeding or fatal bleeding. Portola shares were down more than 27 percent to $20.80 in midday trading Thursday.
—Carlsbad, CA, medical device maker Acutus Medical closed on a $75 million Series C round from Deerfield Management and other investors to advance development of its technology for mapping the abnormal electrical currents of the heart. The medtech is targeting doctors who specialize in the electrical activity of the heart and would use the technology to image, diagnose, and treat irregular heartbeats.
—Bio-Techne (NYSE: [[ticker:TECH]]) of Minneapolis has acquired tiny Zephyrus Biosciences of Berkeley, CA, for an undisclosed sum. Zephyrus makes a diagnostic tool that uses a technique called western blotting to analyze single cells.
—San Diego’s Huya Bioscience International named John Ratliff as CEO, which the company said was part of its long-term growth plan. Huya founder and former CEO Mireille Gillings plans to stay with the company as executive chair. Ratliff previously led Quintiles’ Global Services organization, overseeing its clinical research, commercial, consulting, lab operations.
—San Diego-based Otonomy (NASDAQ: [[ticker:OTIC]]), a biopharmaceutical commercializing new treatments for diseases and disorders of the ear, said the first patient has been enrolled it a late stage trial in the European Union of its therapy for Ménière’s disease. The company also has a similar trial in the United States.
Xconomy national biotech editor Alex Lash contributed to this report.
