Celgene and a San Francisco-based cancer drug startup called Quanticel Pharmaceuticals have struck an unusual agreement in which the big company is getting the inside track on a new cancer drug discovery platform, and the little company is arranging upfront for a way to get its venture investors some returns. Summit, NJ-based Celgene (NASDAQ: [[ticker:CELG]]) … Continue reading “Celgene To Pump $45M into Quanticel to Discover Cancer Drugs, Gets Option To Acquire”
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
Come Get Coffee With Xconomy at Our Tuesday Meetup. And GI Alumni, Bring Your Swag
We spend most of our time at Xconomy banging out stories about innovation, and putting together our big conferences like “The Genetics Institute Impact” coming up Dec. 14. But sometimes we love nothing more than just meeting at a local establishment to shoot the breeze with readers over a cup of coffee. So that’s what … Continue reading “Come Get Coffee With Xconomy at Our Tuesday Meetup. And GI Alumni, Bring Your Swag”
Optimer Pulls in $10.6M in Sales, With Commercial Rollout of New Antibiotic
San Diego-based Optimer Pharmaceuticals is new to this idea of being a commercial enterprise, but it did OK in its first quarter with an actual product to sell. Optimer (NASDAQ: [[ticker:OPTR]]) said today it generated $10.6 million in net sales of fidaxomicin (Dificid) in the quarter that ended on Sept. 30. The drug, a treatment … Continue reading “Optimer Pulls in $10.6M in Sales, With Commercial Rollout of New Antibiotic”
Yaletown Venture Partners Opening Up Seattle Office, Led by Kirk Washington
Yaletown Venture Partners, the Vancouver, BC-based startup investor, said today that one of its founding partners, Kirk Washington, has opened up an office in Seattle. Yaletown made the announcement at the Venture Northwest Conference in Portland, OR, according to a statement on the firm’s website. The firm, which raised funds in 2003 and 2008, has … Continue reading “Yaletown Venture Partners Opening Up Seattle Office, Led by Kirk Washington”
Seattle Genetics Beats Expectations With $10M Sales in Lymphoma Drug Debut
[Update: 2:55 pm PT] Seattle Genetics handily beat Wall Street expectations by selling $10 million worth of its new lymphoma drug in its first 30 business days on the market. The Bothell, WA-based company (NASDAQ: [[ticker:SGEN]]) said today it generated $10 million in net product sales in the quarter ended Sept. 30, according to its … Continue reading “Seattle Genetics Beats Expectations With $10M Sales in Lymphoma Drug Debut”
UW Spinoff PhysioSonics Snaps up $2.5M Defense Grant to Monitor Brain Blood Flow
Bellevue, WA-based PhysioSonics has picked up a $2.5 million grant from a military agency to see if its ultrasound technology can be adapted to the battlefield. PhysioSonics said today it has gotten the grant from the Telemedicine and Advanced Technology Research Center, an organization at the U.S. Army Medical Research and Materiel Command, located at … Continue reading “UW Spinoff PhysioSonics Snaps up $2.5M Defense Grant to Monitor Brain Blood Flow”
Verastem, the 15-Month Old Christoph Westphal Venture in Cancer Stem Cells, Seeks IPO
Cambridge, MA-based Verastem has big names and big science on its side, which a lot of startups have, but now it’s doing something quite unconventional for a company that’s just 15 months old—it’s trying to go public. Verastem, the company led by former Sirtris Pharmaceuticals CEO Christoph Westphal and founded on science from MIT luminaries … Continue reading “Verastem, the 15-Month Old Christoph Westphal Venture in Cancer Stem Cells, Seeks IPO”
Medivation, Astellas Prostate Cancer Drug Helps Men Live Longer; Shares Skyrocket
[Updated: 7:10 am PT] San Francisco-based Medivation has some big news to report today with a prostate cancer drug candidate that has been shown to prolong lives. Medivation (NASDAQ: [[ticker:MDVN]]) and its partner, Japan-based Astellas Pharma, said today that their experimental drug MDV3100 was able to prolong lives of men with advanced prostate cancer by … Continue reading “Medivation, Astellas Prostate Cancer Drug Helps Men Live Longer; Shares Skyrocket”
Dendreon Shares Tank Again, Elias Joins Gates Foundation, Seattle Children’s Gets $50M, & More Seattle-Area Life Sciences News
This was a week of volatile ups and downs in Seattle biotech. Yeah, I know, what’s new? —Seattle-based Dendreon (NASDAQ: [[ticker:DNDN]]), the cancer drug developer that so many people love to hate, gave its critics some more ammunition in its quarterly financial report. The company reported $64.3 million in third quarter sales, which slightly edged … Continue reading “Dendreon Shares Tank Again, Elias Joins Gates Foundation, Seattle Children’s Gets $50M, & More Seattle-Area Life Sciences News”
Dendreon Edges Past Street Expectations With Third Quarter Provenge Sales, Shares Still Fall
[Update: 2:55 pm PT] Seattle-based Dendreon deeply disappointed investors with its last quarterly financial report, but today it reported sales of its prostate cancer drug continued to grow in the third quarter, slightly exceeding Wall Street forecasts. Shares fell about 20 percent in after-hours trading, though, as the company said it expects to see “modest” … Continue reading “Dendreon Edges Past Street Expectations With Third Quarter Provenge Sales, Shares Still Fall”
Bob Langer’s Latest Project: Fix Damaged Vocal Cords for Rock Stars, Cancer Patients
Bob Langer has probably been called a rock star a time or two, but now the famous MIT scientist’s work is being supported by actual rock stars. Langer, an Xconomist, is working on a project to create a vibrating gel which is thought to have potential to rejuvenate damaged vocal cords, according to a feature … Continue reading “Bob Langer’s Latest Project: Fix Damaged Vocal Cords for Rock Stars, Cancer Patients”
UW Spinoff Cardiac Insight Looks to Spot Common Cause of Stroke with Stick-On Device
Tom Clement spent more than a year poking around the University of Washington, looking for the next hot medical device idea to develop after his long run at Kirkland, WA-based Pathway Medical Technologies. And now he’s latched onto a new technology he says could become a low-cost, disposable, and accurate way to diagnose a leading … Continue reading “UW Spinoff Cardiac Insight Looks to Spot Common Cause of Stroke with Stick-On Device”
Al Gore Was Almost a VIP Scientist, and More to Remember at the Immunex Impact Dec. 1
Legend has it that former vice president Al Gore was once supposed to visit Seattle-based Immunex. Somebody had the bright idea of making a white lab coat with Gore’s name and “VIP scientist” embroidered on it, which probably would have made for an amusing photo op for the evening news. Ah, but according to former … Continue reading “Al Gore Was Almost a VIP Scientist, and More to Remember at the Immunex Impact Dec. 1”
Exelixis To Push Ahead on Prostate Cancer Trial Without FDA Agreement: Shares Plunge
Exelixis has been talking with the FDA for months about reaching an agreement on the design of a pivotal trial for its prostate cancer drug, but now the company has essentially thrown up its hands and decided to push ahead in testing without any formal regulatory deal. Shares of the company fell more than 30 … Continue reading “Exelixis To Push Ahead on Prostate Cancer Trial Without FDA Agreement: Shares Plunge”
Morgenthaler Ventures, ATV To Merge Life Sciences Teams, Form New Fund
Morgenthaler Ventures and Advanced Technology Ventures, a couple of longstanding and diversified venture firms, have decided to split off their life sciences investment teams and merge them into a new independent biotech fund, Xconomy has learned. The news was reported earlier today by Fortune’s Dan Primack. The new life sciences fund, which doesn’t have a … Continue reading “Morgenthaler Ventures, ATV To Merge Life Sciences Teams, Form New Fund”
Seattle Children’s Nabs $50M Donation for Research, Plus $15M for Nursing, Clinical Care
Seattle Children’s Hospital probably has more fun than most hospitals every year on Halloween, but this year it has something really big to celebrate. The hospital said today it has secured a pair of charitable donations worth a combined $65 million to support its research programs, nursing education, and clinical care. One $50 million gift … Continue reading “Seattle Children’s Nabs $50M Donation for Research, Plus $15M for Nursing, Clinical Care”
PATH CEO Chris Elias Resigns For Top Anti-Poverty Job at Gates Foundation
PATH president and CEO Chris Elias, who led the global health nonprofit to prominence over the past decade, is stepping down to become the president of global development at the Bill & Melinda Gates Foundation. Elias joined PATH in 2000, when it had an annual budget of $44 million and a staff of 297 employees, … Continue reading “PATH CEO Chris Elias Resigns For Top Anti-Poverty Job at Gates Foundation”
The Cancer Drug Dark Ages Are Coming to an End
Only a couple stories in the past decade have given advocates of personalized cancer medicines much to brag about. There was Genentech’s Herceptin for a form of breast cancer in 1998, and Novartis’ Gleevec for chronic myeloid leukemia in 2001. But just a few short weeks ago, in August, we saw a flurry of FDA … Continue reading “The Cancer Drug Dark Ages Are Coming to an End”
PacBio Posts Flat Revenues in Q3, Names Mike Hunkapiller New Executive Chairman
Pacific Biosciences saw its sales flatten in its second quarter on the market with a new breed of DNA sequencing instrument, and now it’s shuffling things around a bit on the org chart to see if it can kickstart its growth. The Menlo Park, CA-based company (NASDAQ: [[ticker:PACB]]) said today it generated $10.5 million in … Continue reading “PacBio Posts Flat Revenues in Q3, Names Mike Hunkapiller New Executive Chairman”
Vertex Flips Into the Black for First Time, as Hepatitis C Drug Beats Expectations Again
Vertex Pharmaceuticals has tallied up an amazing amount of red ink in its 22-year history, but now it can say that all those long R&D years have created a profitable business. The Cambridge, MA-based biotech company (NASDAQ: [[ticker:VRTX]]) said today that it generated $659 million in total revenues, and turned a profit of $221 million … Continue reading “Vertex Flips Into the Black for First Time, as Hepatitis C Drug Beats Expectations Again”
Portola Grabs $45M Upfront From Biogen Idec to Develop Autoimmune Drugs
South San Francisco-based Portola Pharmaceuticals has formed a lucrative alliance today with Biogen Idec (NASDAQ: [[ticker:BIIB]]) to co-develop drugs for autoimmune diseases, seeking to stop the immune system from attacking healthy tissues like a virus. Under the deal, Portola is granting Weston, MA-based Biogen Idec an exclusive worldwide license to co-develop oral pills that block … Continue reading “Portola Grabs $45M Upfront From Biogen Idec to Develop Autoimmune Drugs”
Biogen Idec’s Oral Multiple Sclerosis Drug Passes 2nd Major Test; Stock Soars
Biogen Idec’s new oral pill for multiple sclerosis passed its first pivotal trial back in April, and today the company got the confirmation it was looking for from a second major study. The Weston, MA-based biotech company (NASDAQ: [[ticker:BIIB]]) said today that dimethyl fumarate (BG-12) met its main goal of reducing multiple sclerosis flare-ups over … Continue reading “Biogen Idec’s Oral Multiple Sclerosis Drug Passes 2nd Major Test; Stock Soars”
Onyx, Bayer’s Colon Cancer Drug Helps Extend Lives; Stock Climbs
Onyx Pharmaceuticals and Bayer settled a dispute a couple weeks ago about ownership of a certain colon cancer drug in development, and suddenly that colon cancer drug is looking like it could be pretty valuable. South San Francisco-based Onyx (NASDAQ: [[ticker:ONXX]]) said that its partner, Bayer, has stopped a pivotal clinical trial of regorafenib as … Continue reading “Onyx, Bayer’s Colon Cancer Drug Helps Extend Lives; Stock Climbs”
Emerald Biostructures Gets 3-Year Extension of UCB Drug Partnership
Emerald Biostructures‘ biggest customer is renewing its contract for another three years, and giving Emerald a piece of the action if it can help lay the foundation for new commercial drugs. Bainbridge Island, WA-based Emerald is announcing today that it has gotten a 3-year extension of its collaboration with UCB, a 3.2-billion-euro company in Belgium … Continue reading “Emerald Biostructures Gets 3-Year Extension of UCB Drug Partnership”
BIO Investor Forum Roundup: Immune Design, Sorbent Therapeutics, Epizyme
The best thing about coming to the BIO Investor Forum in San Francisco every year is the schmoozing with folks from all over the country in one place. The worst thing? There’s not much in the way of breaking news. Oh well, sometimes you gotta do the spade work on a slow news day if … Continue reading “BIO Investor Forum Roundup: Immune Design, Sorbent Therapeutics, Epizyme”
Computing in the Age of the $1,000 Genome: Some Themes and Some Photos
Scientists will soon be able to obtain the full 6 billion letter string of DNA that makes us who we are for $1,000, and the cost might drop all the way to $100 or less. Probably 1 billion people will get their DNA sequenced when prices go that low. It’s a big opportunity with big … Continue reading “Computing in the Age of the $1,000 Genome: Some Themes and Some Photos”
Illumina To Cut 200 Jobs, 8 Percent of Workforce, After Third Quarter Sales Fall Short
[Updated: 6:45 am, 10/26] San Diego-based Illumina is doing some restructuring to make up for third-quarter sales that fell way short of investors’ expectations. The market-leading maker of DNA sequencing instruments (NASDAQ: [[ticker:ILMN]]) said today it is going to restructure (i.e., make job cuts) that will add up to a $15 million to $17 million … Continue reading “Illumina To Cut 200 Jobs, 8 Percent of Workforce, After Third Quarter Sales Fall Short”
See You This Afternoon at “Computing in the Age of the $1,000 Genome”
We’re getting ready here at Xconomy SF to head over to QB3 at UCSF Mission Bay this afternoon for our big event, “Computing in the Age of the $1,000 Genome.“ This event will bring together an ensemble cast of speakers talking about one of the big challenges in computing today, and how medicine and society … Continue reading “See You This Afternoon at “Computing in the Age of the $1,000 Genome””
Sanofi Names David Meeker New CEO of Genzyme, Will Report to Viehbacher
Genzyme only had one leader for more than 25 years, and it has found a new one in David Meeker, now that the company is part of Paris-based pharmaceutical giant Sanofi. Meeker will become the CEO of the Cambridge, MA-based Genzyme unit starting Nov. 1, and will report to Sanofi CEO Chris Viehbacher, according to … Continue reading “Sanofi Names David Meeker New CEO of Genzyme, Will Report to Viehbacher”
Exelixis Passes Key Test With Lead Drug; Stock Soars
Exelixis shareholders have been waiting for months to see how the company’s lead drug would perform in a pivotal clinical trial, and today they got some gratification. The South San Francisco-based company said that cabozantinib was able to keep thyroid tumors from spreading for about seven months longer than a placebo in a study known … Continue reading “Exelixis Passes Key Test With Lead Drug; Stock Soars”
Biotech VCs Have a Problem, and it Will Get Worse Before It Gets Better
We’ve heard warnings for a couple of years now that the chickens would come home to roost in the biotech venture capital scene. Quite a few VCs just haven’t delivered the returns to back up all their talk, and you can’t wait around forever for things to improve. This drama is going to be long … Continue reading “Biotech VCs Have a Problem, and it Will Get Worse Before It Gets Better”
Sha Mi, Biogen Idec’s Neurology Ace, to Join “The Genetics Institute Impact” on Dec. 14
One of the scientists at Biogen Idec pushing for a new kind of regenerative medicine got some of her most valuable experience, and inspiration, back in the day at Genetics Institute. So we’re thrilled to have Sha Mi join what is shaping up to be a truly special gathering of alumni from GI, one of … Continue reading “Sha Mi, Biogen Idec’s Neurology Ace, to Join “The Genetics Institute Impact” on Dec. 14″
How Will the $1,000 Genome Change Society? Hear From Wired’s Thomas Goetz, MDV’s Sue Siegel, Kauffman’s John Wilbanks on Monday
When complete human genomes can be sequenced for $1,000 or less, how will this change society? Will all newborns in wealthy countries get sequenced automatically as part of their permanent medical record? Will society start discriminating against people based on their genetic makeup, like the “Gattaca” nightmare scenario? Bioethicists have been discussing these questions for … Continue reading “How Will the $1,000 Genome Change Society? Hear From Wired’s Thomas Goetz, MDV’s Sue Siegel, Kauffman’s John Wilbanks on Monday”
UW Spinoff Impel NeuroPharma Nabs Two Big Pharma Deals, $500K in Angel Financing
Seattle-based Impel NeuroPharma has gotten a big vote of confidence for its technology that aims to deliver certain drugs more efficiently to the brain. The company, a University of Washington spinout, said today it has secured funding from two of the world’s top 10 pharmaceutical companies, plus another $500,000 in a Series B angel financing. … Continue reading “UW Spinoff Impel NeuroPharma Nabs Two Big Pharma Deals, $500K in Angel Financing”
Analyst: Seattle Genetics on Pace to Smash Wall Street Forecast with Lymphoma Drug Rollout
Seattle Genetics only had 30 full business days in the last quarter to sell its first drug, and at least one analyst says the company nailed the early days of its commercial rollout. The Bothell, WA-based biotech company (NASDAQ: [[ticker:SGEN]]) won FDA approval to start selling brentuximab vedotin (Adcetris) as a new treatment for Hodgkin’s … Continue reading “Analyst: Seattle Genetics on Pace to Smash Wall Street Forecast with Lymphoma Drug Rollout”
Illumina Takes Page From Apple Playbook, in Blending Hardware and Software for the Genome
Illumina has long been about hardware, hardware, hardware. The San Diego-based company became the market leader in DNA sequencing instruments by focusing on the hardware and the consumable chemicals to run the machines. Its scientific customers were basically on their own when it came to finding software to analyze all the DNA data Illumina machines … Continue reading “Illumina Takes Page From Apple Playbook, in Blending Hardware and Software for the Genome”
Illumina Leads $8M Investment in GenoLogics to Help Manage DNA Data Overload
San Diego-based Illumina, the world’s leading maker of gene sequencing instruments, is getting more serious about software as its customers continue to drown in a sea of cheap DNA data. Victoria, BC-based GenoLogics is announcing today it has raised $8 million in what it called a “strategic financing” led by Illumina (NASDAQ: [[ticker:ILMN]]), the world’s … Continue reading “Illumina Leads $8M Investment in GenoLogics to Help Manage DNA Data Overload”
Amgen Cuts 70 Washington Jobs, Hutch Spins Off Blaze Bioscience, Henney Enters the Hall, & More Seattle-Area Life Sciences News
Chronically bad unemployment is the biggest story in the U.S. today, and we had some more bad news about jobs being lost this week in Seattle biotech. But there were a few other good things to report, including a story about a new company being born. —Amgen (NASDAQ: [[ticker:AMGN]]), the Thousand Oaks, CA-based biotech giant, … Continue reading “Amgen Cuts 70 Washington Jobs, Hutch Spins Off Blaze Bioscience, Henney Enters the Hall, & More Seattle-Area Life Sciences News”
Amgen Confirms 380 Layoffs in R&D; Cuts Coming to Seattle, SF, Boston
Word came out of Amgen last week that it was looking to overhaul its R&D operations, and today the biotech giant confirmed the overhaul is translating into job cuts for 380 people across the company. Thousand Oaks, CA-based Amgen (NASDAQ: [[ticker:AMGN]]) notified 380 employees internally today that their jobs are being eliminated as part of … Continue reading “Amgen Confirms 380 Layoffs in R&D; Cuts Coming to Seattle, SF, Boston”
Vertex Seeks FDA Green Light for Cystic Fibrosis Drug, Second Potential Hit of Big Year
Cambridge, MA-based Vertex Pharmaceuticals is looking to be more than another one-hit biotech wonder. The company, best known for its drug for hepatitis C introduced earlier this year, is now vying for FDA approval of a second treatment that it hopes will shake up the way physicians treat cystic fibrosis, a deadly genetic disease. Vertex … Continue reading “Vertex Seeks FDA Green Light for Cystic Fibrosis Drug, Second Potential Hit of Big Year”
Computing in the Age of the $1,000 Genome: Here’s the Program for Monday’s Conference
[Updated: 11:18 am PT] One of the most fastest-moving, highest-impact innovation stories in history is happening in genomics. Lucky for those of us who follow the business on the West Coast, this epic story is playing out right where we live, right now. Everyone in the Valley knows about Moore’s Law, and how computing power … Continue reading “Computing in the Age of the $1,000 Genome: Here’s the Program for Monday’s Conference”
Got Some Immunex Memorabilia in the Closet? Break it Out at the Immunex Impact Dec. 1
If you ever worked at Immunex, chances are you got a T-shirt, pen, coffee mug or some other piece of swag with a logo on it. The stuff might have been shipped off to Goodwill a long time ago, but if it’s still sitting there in the closet, I have an idea for what you … Continue reading “Got Some Immunex Memorabilia in the Closet? Break it Out at the Immunex Impact Dec. 1”
DNAnexus, With Google Ventures and TPG’s Cash, Seeks Edge in $100B Genome Computing Market
If there’s anybody in the world of genomic computing with dreams of world domination, like a Bill Gates or a Mark Zuckerberg, it might be Andreas Sundquist. Others may have similar ambitions, but the co-founder of Mountain View, CA-based DNAnexus is one of the few with the chutzpah to say that he thinks a cottage … Continue reading “DNAnexus, With Google Ventures and TPG’s Cash, Seeks Edge in $100B Genome Computing Market”
GSK Malaria Vaccine Stands Out at Gates Foundation Confab, But Cost Still the Big Question
The buzz at the Bill & Melinda Gates Foundation’s malaria conference yesterday was all about clinical trial results from a new vaccine the foundation developed with pharma giant GlaxoSmithKline. But there’s a big question about how much this vaccine will cost, and nobody is willing to offer specifics about that yet. To recap, here’s what … Continue reading “GSK Malaria Vaccine Stands Out at Gates Foundation Confab, But Cost Still the Big Question”
Kleiner Perkins, Google Ventures Join Expanded $33.5M Round for Foundation Medicine
Foundation Medicine has added a couple more big names to its roster of investors and partners. The Cambridge, MA-based company, seeking to develop personalized cancer diagnostics based on new understanding of genomics, said today it has added Kleiner Perkins Caufield & Byers and Google Ventures to a Series A financing that now totals $33.5 million. … Continue reading “Kleiner Perkins, Google Ventures Join Expanded $33.5M Round for Foundation Medicine”
Blaze Bioscience, Fred Hutch Spinoff with Zymo Vet at the Helm, Seeks to “Paint” Tumors
Heather Franklin had a lot to think about in September 2010. She was a senior vice president at Seattle-based ZymoGenetics, when it agreed to be acquired by Bristol-Myers Squibb for $885 million. Now that the big company was calling the shots, it was time to think about a new move in her career. Jim Olson, … Continue reading “Blaze Bioscience, Fred Hutch Spinoff with Zymo Vet at the Helm, Seeks to “Paint” Tumors”
NextBio Sees Growth in Next Market: Physicians Seeking Help Interpreting Individual Genomes
The first few years at NextBio were about serving research customers. Then came Big Pharma and biotech companies. But now, as genomics has outpaced Moore’s Law in terms of speed and cost improvements, a new type of customer is sniffing around. Physician/scientists are suddenly leaning on NextBio’s software to comb through genomic reports in order … Continue reading “NextBio Sees Growth in Next Market: Physicians Seeking Help Interpreting Individual Genomes”
Chris Henney, the Immunex and Dendreon Mover/Shaker, Makes Biotech Hall of Fame
Christopher Henney, the immunologist who co-founded three of Seattle’s most successful biotech companies from the past 30 years, has made it into the industry’s Hall of Fame. Henney, 70, was given the Hall of Fame award for outstanding individual contributions to biotech at the annual Biotech CEO Meeting in Laguna Beach, CA. He’s currently the chairman … Continue reading “Chris Henney, the Immunex and Dendreon Mover/Shaker, Makes Biotech Hall of Fame”
Marina Biotech Finds $15M From Investor to Keep Pursuing RNAi Drugs
Marina Biotech has found a way to extend its runway a little longer, by finding a single investor willing to pump in another $15 million. The Bothell, WA-based company (NASDAQ: [[ticker:MRNA]]), the developer of RNA interference drugs, said today in a regulatory filing that Lincoln Park Capital Fund has agreed to invest as much as … Continue reading “Marina Biotech Finds $15M From Investor to Keep Pursuing RNAi Drugs”
Anadys Pharmaceuticals Surprises the Street, Gets Acquired by Roche for $230M
San Diego-based Anadys Pharmaceuticals was only valued at about $60 million yesterday by Wall Street, but it’s worth $230 million today. The developer of hepatitis C drugs (NASDAQ: [[ticker:ANDS]]) said today it has agreed to be acquired by pharmaceutical giant Roche for $3.70 a share, a 256 percent premium over its closing price of $1.04 … Continue reading “Anadys Pharmaceuticals Surprises the Street, Gets Acquired by Roche for $230M”