Tolerx starts trial for new diabetes treatment
CAMBRIDGE, Mass. Biotech company Tolerx has begun a late-stage human clinical trial for a new diabetes treatment, according to the Boston Business Journal.
As a result, development partner GlaxoSmithKline will give the company a $15 million milestone payment.
Tolerx said the trial is to test the drug otelixizumab and will involve 240 adult patients with new-onset Type 1 diabetes. The trial will take place at centers in both North America and Europe.
GSK and Tolerx joined together in the development and commercialization of the drug back in late October. If all milestones for the drug are met, the deal could be worth over $750 million.
Lannett’s generic antibiotic receives FDA approval
PHILADELPHIA The Food and Drug Administration has approved Lannett Company’s application for a generic version of Par Pharmaceutical’s Adoxa, Lannett announced Friday.
The drug, known generically as doxycycline tablets, will be available in doses of 75 mg and 150 mg.
Combined sales of generic doxycycline tablets in those doses were $25.8 million in 2007, according to Wolters Kluwer. The drug is an antibiotic used for urinary-tract infections, sexually transmitted infections, acne and others.
Pfizer to shift some biotech workers to California
SAN FRANCISCO Pfizer is planning on moving about 100 of its employees, including the headquarters of its new Biotherapeutics and Bioinnovation Center, to San Francisco, according to the San Francisco Business Times. The new location will be used to help develop Pfizer’s biotech pipeline.
Pfizer agreed Friday to a long-term lease of almost the entire five-story, 105,000-square-foot west wing of Alexandria Real Estate Equities planned office/laboratory complex in Mission Bay.
Pfizer will move to the complex starting in early 2010, according to a company spokeswoman. Biotech industry veteran Corey Goodman, who was hired last year when the BBC was created, will head the new BBC location.
According to Goodman, “as much as 25 percent of Pfizer’s pipeline could be in biotherapeutics, and one in five drugs on the market would be a biotherapeutic.”