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October 24, 2012
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  Today's Top Story 
  • Seattle Genetics broadens antibody drug deal with Abbott
    Seattle Genetics and Abbott expanded an existing collaboration centered on the former's auristatin-based antibody-drug conjugate technology. The new deal allows Abbott to use Seattle's technology with antibodies against additional targets. Abbott will be in charge of research, development, production and marketing of products arising from the collaboration. The agreement entitles Seattle to as much as $220 million in milestone fees per additional target plus sales royalties, in addition to maintenance payments and research fees. Genetic Engineering & Biotechnology News (10/23), BioWorld Online (free registration) (10/23) LinkedInFacebookTwitterEmail this Story

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  Health Care & Policy 
  • Young, proven venture capitalists will survive biotech lull
    As the biotech venture capital market contracts and older, successful fund managers eye retirement, a group of young, proven biotech venture capitalists are the most likely to survive a downturn, Luke Timmerman writes. Panorama Capital's Gaurav Aggarwal, Canaan Partners' Brent Ahrens, Atlas Venture's Bruce Booth and Polaris Venture Partners' Brian Chee and Alan Crane are among the 38 that Timmerman believes will weather the current storm. Xconomy (10/22) LinkedInFacebookTwitterEmail this Story
  • Ironwood joins forces with AstraZeneca to bring IBS drug to China
    AstraZeneca and Ironwood Pharmaceuticals agreed to jointly develop and market the latter's linaclotide, an FDA-approved drug for irritable bowel syndrome, in China. Under terms of the deal, Ironwood will get $25 million upfront and as much as $125 million in milestone fees plus 50% of sales profits after benchmarks are achieved. In May, Ironwood submitted an application with Chinese regulators seeking approval to initiate a late-stage trial of linaclotide in patients who have IBS with constipation. American City Business Journals/Boston (10/23) LinkedInFacebookTwitterEmail this Story
  • Celgene's myeloma drug extends survival in trial, monitor says
    Celgene's experimental cancer drug pomalidomide achieved the primary goal of enhancing progression-free survival in patients with multiple myeloma who relapsed or failed to respond to previous treatment, an interim analysis of a Phase III study found. The data safety monitoring board in charge of the study also found that pomalidomide, combined with low-dose dexamethasone, was better than a high dose of dexamethasone alone for overall survival. Reuters (10/23) LinkedInFacebookTwitterEmail this Story
  • Natera's DNA-based test promotes safe and accurate prenatal Dx
    Natera is working on a prenatal diagnostic assay that the company says is both highly reliable and safe. The tool works by analyzing fetal DNA fragments from maternal blood samples and can be performed at nine weeks of pregnancy, which is earlier than that of traditional tests, according to the San Carlos, Calif.-based startup. (10/22) LinkedInFacebookTwitterEmail this Story
  Company & Financial News 
  • Avanir's potential dyskinesia drug secures MJFF grant
    The Michael J. Fox Foundation awarded Avanir Pharmaceuticals an undisclosed amount to support a clinical trial that will evaluate the safety and efficacy of AVP-923, a combination of dextromethorphan hydrobromide and quinidine sulfate, in Parkinson's disease patients suffering from levodopa-induced dyskinesia. The trial will be carried out in the U.S. and Canada. Genetic Engineering & Biotechnology News (10/23) LinkedInFacebookTwitterEmail this Story
  Food & Agriculture 
  • Organic, conventional foods are nutritionally equal, pediatricians say
    Organic products may lower children's exposure to pesticides, but its nutritional value is no greater than that of conventional vegetables, grains, fruits and dairy products, according to a report released by the American Academy of Pediatrics on Monday. Research has not found long-term health benefits for organic foods, one of the report's authors said. Family Practice News (10/22) LinkedInFacebookTwitterEmail this Story
  Industrial & Environmental 
  • Calif. firm to build biorefineries at U.S. military facilities
    Biodico has landed a U.S. Navy contract to develop advanced biofuel and bioenergy plants at Department of Defense facilities. As part of the deal, Biodico will construct a biorefinery at Naval Base Ventura County in California to make competitively priced biofuels and other bio-based products. "Our objective is to privately fund sustainable biorefineries at Department of Defense facilities around the world at no cost to the U.S. taxpayer and to eliminate our dependence on foreign oil," said Biodico Chairman J.J. Rothgery. United Press International (10/22) LinkedInFacebookTwitterEmail this Story
  News from BIO 
  • BIOtechNOW
    BIOtechNOW is the first in a number of new products from BIO intended to enhance our communications with the biotech community -- not only with our members, but with other stakeholders as well. This e-newsletter, combined with its website, serves as our flagship in that effort. BIOtechNOW will offer original content that emphasizes the business needs of the industry; highlight BIO's advocacy efforts; and provide a portal to all BIO activities and events. Most importantly, it will spotlight for those outside the industry the value of biotechnology. Sign up for the e-newsletter. LinkedInFacebookTwitterEmail this Story
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--Alexander Graham Bell,
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