Interesting news published this week in the New York Times and about the use of ketamine for depression. Better known by its street name "Special K," this drug is classified as an NMDA receptor antagonist, and is used as an anesthetic and a pain reliever. Naurex, which develops the drug commercially, recently raised $80 million to initiate Phase III clinical trials for the drug's use in depression. The CEO of the company is the former CSO of Baxter. I guess once you are chief scientific officer of Baxter you can go and raise $80 million for a drug which thankfully will be put to better use and hopefully shed its notorious reputation for misuse by celebrities. http://nyti.ms/1AxVvNy
Keep an eye on the Juno IPO which is slated to raise about $190 million in the coming weeks. At the pricing levels that are being discussed, the deal would make Juno worth about $1.5B, making it the most valuable biotech company to go public during 2014. It'll be interesting to see not only if this deal gets done, but more importantly how the stock performs once it’s out. http://bit.ly/1vQ23Tw
Versant announced this week that is has raised a $300M fund focused on Canada. Building boutique regional funds harks back to the 1990’s and my father, Stan Yakatan, who passed away last month, worked hard to build companies for VC’s in Montreal, Canada and Victoria, Australia. Regional funds can really help local industry and they can really provide returns. Its not just air miles that Versant is looking for! http://bit.ly/1uKJvEZ
Sanofi chairman Serge Weinberg announced this week that the company is seeking to make several acquisitions in the coming fiscal year. Surprising that the company is looking to make such deals in the fields of consumer health veterinary drugs and vaccines, areas that are "perhaps less driven by innovation, but continually grow and are more stable." What happened to research and development of drugs that fund innovation and taking risks? I guess in the New World Order that activity is left to smaller or more aggressive entrepreneurial companies, than larger operations that have shareholders to answer to. http://bit.ly/16noqLf
File this under "We will try and try and try," … but Pfizer announced this week that it’s $4.9 billion selling drug Lyrica showed little to no efficacy versus placebos in a small study for back pain. Despite this news many people who are specialists in pain think that the drug's reputation as a powerful nerve medication may be strong enough to withstand the results of the trial. Doctors versus spin doctors - who will win? http://bloom.bg/1ste3Q9
Abbott Laboratories announced a CE Mark for a blood based molecular diagnostic platform to diagnose sepsis. Sepsis is still one of those areas with a huge level of unmet medical needs and the ability to create a huge market by at least diagnosing such critically ill patients. A test like this could be a major win for both companies and for patients. http://bit.ly/1ssDeNg
Finally, note a very interesting article this week in BusinessWeek surrounding the business of selling prescription drug records. This process which is known as a “match back” allows pharmaceutical companies to identify groups using a specific medicine and then to resend them tailored web advertising. Many experts estimate that this cutting-edge of medical data statistics will surpass $10 billion in revenue as an industry by 2020. Very interesting to look at who is using this platform and what drugs they are using it for. Keep an eye on this space for the major providers in this area: IMS Health and Symphony Health Solutions. http://buswk.co/1AxS35v
Editor's Note: Seth Yakatan currently serves as Vice-President of Business Development for Invion, Ltd. (ASX:IVX) and is a founder of Katan Associates. Seth has been professionally involved in the biotechnology industry for the past 15 years.
Invion, Ltd., is a clinical-stage drug development company focused on the development of treatments for major market opportunities in inflammatory diseases including asthma, chronic bronchitis and lupus. Website: http://inviongroup.com/
Seth, and his late father, Stan Yakatan, started Katan Associates over 15 years ago parlaying Stan’s work as a thought leader in the nascent industry from the late 1980’s to this year. Katan Associates provides strategic advice to leading corporate biotech companies. It’s early work with emerging growth small cap companies led to creation of the Technology Corridor of Southern California and continues to this day. Look anywhere in San Diego, Orange County, Los Angeles, Boston, Israel, Canada, etc., and you can see the work of Katan Associates.
© 2017 Stock News Now
Supported by Superior Web Solutions