Bristol-Myers and BioMotiv launch new drug venture
Bristol-Myers Squibb (NYSE:BMY) and drug development accelerator BioMotiv launch Anteros Pharmaceuticals, a biotech focused on developing a new class of drugs to treat fibrotic and other inflammatory diseases. Anteros is the first such launch under the companies’ September 2019 partnership.
Under the terms of the venture, BMY will contribute intellectual property, data and reagents for a series of small molecules against an undisclosed mechanism. BioMotiv, working with Yale University, will be responsible for R&D. Once Anteros nominates a preclinical candidate, BMY will have the option to acquire Anteros from BioMotiv under pre-agreed terms.
BMY is up 1% premarket on light volume.
Baxter in-licenses rights to endotoxin filter
Baxter International (NYSE:BAX) inks an agreement with Spectral Medical (OTCPK:EDTXF) for exclusive distribution rights in the U.S. and Canada to the latter’s TORAYMYXIN PMX-20R hemoperfusion filter, an investigational device that removes endotoxin from the blood, and the Endotoxin Activity Assay, a companion diagnostic that aids in the risk assessment of ICU patients for progression to severe sepsis. Baxter will have non-exclusive distribution rights in the rest of the world.
Under the terms of the deal, Baxter will pay Spectral $5M upfront and a series of milestones and certain performance obligations to maintain exclusive rights in North America.
A U.S.-based clinical trial, TIGRIS, comparing the device to standard-of-care treatment in patients with endotoxemic septic shock is in process with an estimated primary completion date in October 2021. The primary endpoint is 28-day mortality.
Co-Diagnostics to host webinar on development of coronavirus test
Co-Diagnostics (NASDAQ:CODX) host a webinar tomorrow, February 5, to discuss its activities developing an assay for 2019-nCoV, the coronavirus causing the current outbreak, still largely confined to China.
Shares up 2% premarket on light volume.
Germany OKs enhanced reimbursement for Axonics r-SNM System
Axonics Modulation Technologies (NASDAQ:AXNX) announces that the German Institute for the Hospital Remuneration System has granted Status 1 reimbursement approval to the Axonics r-SNM System under a New Examination and Treatment Method (allows hospitals to apply for additional funding for medical devices when reimbursement is limited). 36 hospitals who intend to start using the r-SNM System this year have done so.
Cutera sues Aesthetics and former employees over theft of trade secrets
Cutera (NASDAQ:CUTR) discloses that it has filed lawsuits in a California district court against Aesthetics, Inc. and certain former employees claiming misappropriation of trade secrets, Racketeer Influenced and Corrupt Organizations Act (RICO) violations; tortious interference with contractual relations and with prospective economic advantage; unfair competition as defined by the California Business and Professions Code; and aiding and abetting the breach of fiduciary duties and/or duty of loyalty owed by said former employees.
The company seeks compensatory and punitive damages as well as equitable relief and legal expenses.
