The Day In Review: Genentech, Inc. Inks Third Deal This Week

January 12, 2007 -- For the third time this week, Genentech (DNA) announced a deal with another biotech, this time with Swedish biotech BioInvent on a cardiovascular compound; stent maker Xtent set terms for its upcoming IPO; Point Therapeutics released positive interim data from a Phase II trial of a pancreatic cancer drug; and Valeant in-licensed the Canadian rights to Xyrem from Jazz Pharma. Biotech closed at a new record high. The Centient Biotech 200™ gained 24 point to close at 4078, a rise of .58% and 5 points over the old high. More details...

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