South San Francisco's Lyric Pharmaceuticals raised $20.4 million in first-round financing to support its work on a hush-hush gastrointestinal drug.
A fast-changing Merck KGaA is backing away from discovery and preclinical R&D deals it set up with the antibody specialists at Ablynx. And the Belgian biotech saw its shares slide 14% today after news of the prospective breakup--included in Ablynx's annual summary--spread in the markets.
Exact Sciences is charting big plans for 2015, increasing its sales efforts and pushing for expanded coverage of its stool-based DNA colon cancer test to grab a bigger market share.
Entrepreneur Keith Kocho is designing a smart tablet specifically for the elderly. He's been given $1 million from Google Ventures and Atlas Venture to work on the project.
Valeant only just picked up Provenge from bankrupt Dendreon, but it's already trumpeting positive data for the flailing prostate cancer vaccine.
Illumina has revealed a new fund structure to back startup graduates from its accelerator that launched early last year. Dubbed Illumina Accelerator Boost Capital, the fund has secured an initial $40 million capital commitment from Viking Global Investors.
Prexton Therapeutics, the first company to emerge from the €30 million ($34 million) biotech-creation program Merck Serono set up amid the shuttering of its Geneva R&D center, has closed a Series A round.
Allen Zderad lost his vision, but due to a bionic eye implant from a clinical trial, he regained the ability to see human forms and outlines of objects. The implant sends light wave signals to the optic nerve, compensating for a damaged retina.
Imagine having your disabled hand replaced with a functional prosthetic one. It's a reality, The Lancet pronounced, at least for three Austrian men who suffered from injuries to the network of nerves that originate in the neck and control movement from the shoulder down to the hand.
Few could fault the United Kingdom for aiming too low. Having seen its CNS R&D chops whittled away by Big Pharma cuts, the U.K. government has decided the best way out of the mire is to take aim at one of the trickiest fields of all with a multimillion-pound dementia R&D investment fund.