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The Day In Review: EPIX Pharmaceuticals (EPIX) Buys Predix Pharmaceuticals For $90 Million


4/4/2006 5:48:48 PM

April 3, 2006 – Epix Pharma will buy Predix Pharma, a privately held biotech that attempted to make its IPO last October; the FDA approved initial human testing of new cancer drug from CancerVax; Inhibitex sank 66% after Veronate failed a Phase III trial; Cortex put the clinical trials of CX717 on hold; Incyte abandoned an HIV drug after it caused too many side effects; GlaxoSmithKline put an early end to a Phase III trial of its breast cancer drug because of strongly positive data; GlaxoSmithKline also entered a partnership with Sirna to develop RNA interference drugs; ImClone received European approval of an add-on indication for Erbitux; CombinatoRx identified a number of different drug combinations effective against brain cancer; Advanced Cell Technology licensed somatic cell reprogramming IP from TranXenoGen; Pharmacopeia inlicensed anti-hypertensive compounds from Bristol-Myers Squibb; a mouse equivalent of Tarvacin from Peregrine was effective against two forms of cancer; and Geron will pit its lead anti-cancer drug candidate against solid tumor malignancies. The Centient Biotech 200™ closed 29 points lower at 3937.67, a loss of .73%. More details...

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