Life Sciences News

Friday, March 19, 2010

Marshall Edwards faces stock delisting
Oncology-focused pharmaceutical firm Marshall Edwards Inc. announced today that it has received notification from The Nasdaq Stock Market that the company has failed to regain compliance and its common stock is subject to delisting on Tuesday, Mar. 23.
Volpa named to NuOrtho’s board
NuOrtho Surgical Inc. has named Darik Volpa, CEO of Understand.com, to its board of directors.
Lifeline grows with broader patient monitoring
Lifeline, best known for responding to falls by elderly patients, was founded in 1974 and bought by Philips Healthcare in 2006. Since then, Framingham-based Lifeline has grown from one call center to two, and head count has swelled to 1,000 from 675 since then.
FDA gives nod to Boston Scientific defibrillator
Boston Scientific Corp. reports that the U.S. Food and Drug Administration has approved a new use for one of its defibrillator products, the cardiac resynchronization therapy defibrillators, to treat heart failure in patients with asymptomatic or mild heart failure.
Haemonetics takes on blood typing product
Haemonetics Corp. reports it has licensed reagent technology from a Scotland-based company. Under the deal, Braintree-based Haemonetics will use reagents developed by Edinburgh-based Alba Bioscience in its laser-based blood typing system, called Arryx.

Thursday, March 18, 2010

Haemonetics extends Global Med takeover deadline
After reaching an agreement in principal, Haemonetics Corp. reports it has extended the deadline it had set for Global Med Technologies Inc. to accept its acquisition offer to midnight on Wed., Mar. 24. The previous offer was set to expire tonight at midnight.
Rhythmia Medical grabs $2.7M equity round
Rhythmia Medical Inc., a Burlington-based private medical device company, has taken in $2.7 million in an equity round filed with the U.S. Securities and Exchange Commission on Wednesday. The funding included 14 investors participating in the round.
Novelos ends development of lung cancer drug
Less than a month after reporting it had poor results from a lung cancer drug, Novelos Therapeutics Inc. has decided to end the development of the drug as an adjunct to current lung cancer chemotherapy drugs. Newton-based Novelos did say it will go forward with trials in breast cancer for the compound, NOV-002.
Children’s Hospital and Genocea Biosciences partner
Genocea Biosciences Inc. and Children’s Hospital Boston have announced an agreement under which Cambridge-based Genocea is licensing a portfolio of Streptococcus pneumoniae antigens developed in a collaboration among Genocea, Children’s and the Seattle-based research organization PATH.
WPI lands grant to study radio wave impact on humans
Worcester Polytechnic Institute reports it has brought in $1.2 million stimulus grant from the National Institute of Standards and Technology to study the effect of radio waves on the human body.

Wednesday, March 17, 2010

Covidien plans buyback of up to $1 billion
Irish medical device maker Covidien PLC, which has its U.S. headquarters in Mansfield, announced today that its board of directors approved a plan to buy back up to $1 billion of the company’s stock, based on market conditions.
Alkermes launches Phase 1 trial for chronic pain drug candidate
Alkermes Inc. has launched an early stage drug trial for a potential treatment, ALKS 37, for side effects of opiod use for patients will chronic pain.
Cambridge Heart reduces salaries, eliminates board fees
The Cambridge company said the affected employees and directors have been awarded stock options to make up for the direct-pay cuts.
Molecular Insight receives Nasdaq listing warning
According to a Molecular Insight press release, the company has not met the Nasdaq minimum of $50 million for its market value of listed securities for 30 consecutive business days before Mar. 9, the date of the letter.
ALS Therapy Institute pairs with N.J. biotech
Cambridge-based ALS Therapy Institute has teamed up with a New Jersey biotech to test several small-molecule compounds that have the potential to slow or stop the progression of Amyotrophic Lateral Sclerosis (ALS), commonly called Lou Gehrig's disease.

Tuesday, March 16, 2010

Abiomed recalls heart device
The U.S. Food and Drug Administration has alerted health care providers to an ongoing recall launched by Abiomed Inc for a device that supplies power to a blood pump used on failing hearts.
Maine bio lab plans $4.5M expansion
The Mount Desert Island Biological Laboratory in Salisbury Cove, Maine, plans to add to its research space in a $4.5 million expansion, according to published reports.
Alkermes shares jump amid FDA response to diabetes drug
Alkermes Inc. shares popped Monday on news that federal regulators responded positively to a new diabetes-drug application filed by the Waltham-based biotechnology firm and its development partners, Amylin Pharmaceuticals Inc. and Eli Lilly and Co.
Biotech, drug R&D grew in 2009
Research and development investment by pharmaceutical and biotechnology companies defied the recession in 2009, growing by more than 2 percent over the 2008 total.
Metabolix begins bioplastics production at new plant
Cambridge bioscience company Metabolix Inc. has begun production at its new Mirel bioplastics plant in Clinton, Iowa. The company also noted it is shifting its focus to increase sales of Mirel, develop new bioplastics technology and consider production plant expansion.