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Entries tagged "Biotech"Ray of light for life sciences VCs?The health sector passed a curious milestone: For the first time venture funding of life sciences topped information technology investments. Will state jump into Icahn's Biogen Idec saga?With Biogen Idec confirming the appointment of Carl Icahn's nominee Alexander Denner as a director, will the state of Massachusetts' biotech fund try to engage the investor to save jobs? Xmark pressures Icagen on saleLife has become tougher for small biotechnology companies such as Icagen Inc., but making things even more arduous for the developer of asthma and epilepsy treatments is an activist investor, Xmark Opportunity Partners LLC. The Biotechnology Industry Organization, a Washington-based trade group, reported last year that 38% of 370 small biotech companies in the U.S. operate with less than one year's cash on hand and that 100 publicly traded biotech companies have less than six months' cash. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well... Sullivan & Cromwell's Pagnani on biotech M&AAt The Deal LLC's Healthcare Dealmaking Symposium, attorney Keith Pagnani commented on how the dealmaking landscape for biotechs is changing. Curing the common cold, and financial bubblesThe New York Times all but declares the common cold cured, and the Financial Times offers up a scheme to eliminate bubbles altogether. Pfizer, Wyeth and the problem of sizeSpeculation about a Pfizer Inc. deal for Wyeth, first reported in Friday's Wall Street Journal, raises an age-old question that applies to more than just the pharmaceutical industry: size, its merits and demerits. Over the past decade or so, Pfizer has steadily built itself through acquisitions into a behemoth, and the Wyeth deal would push it to $75 billion in revenues. The argument for consolidation and great size has several parts, some obvious, some not. ... J.P. Morgan show: Healthcare deals on the tableThe 27th J.P. Morgan healthcare conference kicks off Monday morning in San Francisco, one of the industry's top dealmaking venues of the year centered in and, for the multitude of parties and meetings, around the city's storied St. Francis hotel (pictured). ... Boston Scientific eyes M&A as biotechs sufferBoston Scientific Corp. CEO Jim Tobin, a guy who knows a thing or two about acquisitions, spoke at the Cleveland Clinic's Medical Innovation Summit Wednesday. Lazard Capital Markets LLC analyst Sean Lavin summarized Tobin's speech in a note to clients Thursday morning. First, Tobin reinforced what he and other execs have said recently: Boston Scientific is on the prowl with $2 billion in cash on hand. The downturn could present good deals for the diversified medical device maker, which is trying to dig out of the hole it created with its $27 billion takeover of Guidant Corp. in 2006.... The ABCs of bankrupt biotechsThe combination of freezing credit markets and plunging stock prices has claimed a new victim: the biotechnology industry. Among those afflicted by cash deficiencies are Massachusetts-based biotech companies ActivBiotics Inc. and Spherics Inc., which both sought relief from creditors on Dec. 7 and July 28, respectively, through a bankruptcy alternative called an assignment for the benefit of creditors, or ABC, contract.... No Avastin bump for GenentechSwiss drug giant Roche Holding AG said Tuesday it's still committed to a "negotiated settlement" in its pursuit of Genentech Inc. The remark came from CEO Severin Schwan during the firm's quarterly earnings call. In July Roche bid $43.7 billion, or $89 a share, for the 44% it doesn't already own. Genentech's board said it was too low but left the door open to higher offers. ... Cell Genesys tanks, takes Takeda cash with itBiotech firm Cell Genesys Inc. said it's laying off 290 people, or 75% of staff, and possibly seeking a buyer. That's a big blow to the Bay Area biotech work force and probably the end of a company that had pushed its prostate cancer vaccine, GVAX, into the final stages of testing. But the firm decided to cut short the second of two trials because the drug wasn't helping patients survive. The drug was meant to work by stimulating the body's immune system to attack the cancer. ... With bone drug data, Amgen not so brittleA year ago we asked whether Amgen Inc., biotech's biggest revenue maker, could be ripe for the plucking.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Biotech." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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