New England area biotechs made the news this week with FDA approvals, clinical study results, new financings, and partnership news. We also saw a few interesting trend and profile pieces on drugmakers.
—Boston-based Gelesis, a biotech working on treating obesity, announced that its technology helped rats reduce their food intake over 18 hours when compared to a placebo. The startup is developing a capsule that—when taken with water—is designed to swell 100-fold in the stomach to make patients feel fuller.
—Waltham, MA-based ImmunoGen (NASDAQ: [[ticker:IMGN]]) announced it will get $45 million upfront from Novartis in exchange for exclusive rights to use its technology to make antibody-based drugs for cancer targets of Novartis’ choosing. ImmunoGen, whose technology combines an antibody’s targeting capabilities with potent, cancer-killing toxins, could also stand to receive $200 million in milestones per target that leads to a cancer drug, and royalties on the drug sales.
—InfraReDx, a Burlington, MA-based medical imaging startup, said it raised $21 million in Series D funding from new and return backers. The firm is putting its cash toward U.S. sales of its FDA-approved coronary imaging system, which combines near infrared light and ultrasound technology to provide detailed images of a type of fatty plaque in the arteries.
—Waltham-based Alkermes (NASDAQ: [[ticker:ALKS]]) announced it had received FDA approval of its extended-release formulation of naltrexone (Vivitrol) for the purpose of preventing relapse of opioid drug dependence. The drug, injected once per month, received approval in 2006 for treating alcohol dependence.
—Ryan rounded up some of the major storylines—both past and evolving in the future—surrounding the New England biotech scene, including the influence of
