MEDICINE: They Can Make Aggressive Cuts, Pursue Other Avenues
Those in the science business must learn to roll with the punches when clinical trials flop, especially when the companies are public, and the failures are broadcast on a global stage, industry veterans said.
Sanford-Burnham Medical Research Institute will collaborate with Eli Lilly and Co. to develop immunological therapies, the companies announced.
WORKFORCE: Critics Say Program Undercuts Citizens
The growing demand for highly skilled foreign workers in biotech and information technology is rekindling debate about the motivation driving companies to hire foreign talent.
Foundry Medical Innovations, a medical and diagnostic device development company in Carlsbad, has merged with Zeis Consulting Group, an IVD clinical research firm.
Cidara Therapeutics Inc. reported May 21 a net loss of $6.7 million for the first quarter of 2015, up from a net loss of $707,000 in the same quarter of last year.
San Diego drug developer Lpath Inc. said it would cut jobs and costs after its experimental eye drug failed a mid-stage study in patients with wet age-related macular degeneration, a leading cause of blindness in the elderly.
Companion Medical Inc., a medical device company in San Diego, has announced the completion of a series B financing, led by an investment from Eli Lilly and Co.
Tandem Diabetes Care Inc., a medical device company in San Diego, announced Tuesday that its t:flex Insulin Pump is on the market, with shipments planned in June.
Sevion Therapeutics Inc., a biopharmaceutical company developing therapies for cancer and immunological diseases, has raised $3.02 million in equity financing according to a recent statement filed with the Securities and Exchange Commission.
In a deal potentially worth up to $1.3 billion, San Diego’s Sorrento Therapeutics has sold the rights to its proposed cancer treatment Cynviloq, as well as the wholly owned subsidiary that was developing the drug, to Illinois-based NantPharma.