Pfizer Inc. said its
organ-transplant drug Rapamune drug didn't meet its primary endpoint in a late
stage study of kidney transplant patients.
There were 256 subjects in the open-label, randomized study. The study also evaluated the safety of Rapamune, and Pfizer noted the adverse events observed in the study were consistent with the known safety profile for the drug.
Sangart Inc. (San Diego, Calif.) is ceasing operations and will wind down by year end, said President and CEO Brian O'Callaghan. Last month, Leucadia National Corp. (NYSE:LUK), Sangart's primary investor, said it would no longer fund its R&D operations. Sangart was unable to secure other funding. Earlier this year, Sangart discontinued development of its lead compound, MP40X, after the oxygenated pegylated hemoglobin-based colloid missed the primary endpoint in a Phase IIb trial to treat hemorrhagic shock. The company's assets include MP4OX; MP4CO, a pegylated carboxyhemaglobin in development for sickle cell disease; and undisclosed preclinical assets. The company, which has raised $260 million since inception, employed 76 people.
And the most interesting for today:
Bristol-Myers Squibb says it will discontinue drug discovery in hepatitis C,
diabetes and neuroscience - as it continues to "focus investment on priority
areas such as immuno-oncology".
The move is likely to result in the loss of up to 75 jobs though B-MS hopes to find alternative employment within the group for some of the researchers affected. Chief scientific officer Francis Cuss said that "we have decided to shift R&D toward a more specialty biopharma model that focuses on the areas of significant unmet medical need, driving near-term growth through our current late-stage portfolio".
He added that the decision has been taken to ensure "the long-term growth of the company by evolving the disease areas and drug platforms on which we concentrate our research efforts". B-MS will increase investment in immuno-oncology, "an area of significant opportunity, to realise the full potential of immunotherapy in certain cancers," adding that it will continue to focus on HIV, hepatitis, heart failure, oncology, immunoscience and fibrotic diseases.
Sangart Inc. (San Diego, Calif.) is ceasing operations and will wind down by year end, said President and CEO Brian O'Callaghan. Last month, Leucadia National Corp. (NYSE:LUK), Sangart's primary investor, said it would no longer fund its R&D operations. Sangart was unable to secure other funding. Earlier this year, Sangart discontinued development of its lead compound, MP40X, after the oxygenated pegylated hemoglobin-based colloid missed the primary endpoint in a Phase IIb trial to treat hemorrhagic shock. The company's assets include MP4OX; MP4CO, a pegylated carboxyhemaglobin in development for sickle cell disease; and undisclosed preclinical assets. The company, which has raised $260 million since inception, employed 76 people.
And the most interesting for today:
Bristol-Myers Squibb says it will discontinue drug discovery in hepatitis C,
diabetes and neuroscience - as it continues to "focus investment on priority
areas such as immuno-oncology". The move is likely to result in the loss of up to 75 jobs though B-MS hopes to find alternative employment within the group for some of the researchers affected. Chief scientific officer Francis Cuss said that "we have decided to shift R&D toward a more specialty biopharma model that focuses on the areas of significant unmet medical need, driving near-term growth through our current late-stage portfolio".
He added that the decision has been taken to ensure "the long-term growth of the company by evolving the disease areas and drug platforms on which we concentrate our research efforts". B-MS will increase investment in immuno-oncology, "an area of significant opportunity, to realise the full potential of immunotherapy in certain cancers," adding that it will continue to focus on HIV, hepatitis, heart failure, oncology, immunoscience and fibrotic diseases.
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