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5 Top Biotech News Stories of 2018
The Investing News Network recaps 2018 with the five top biotech news stories of the year, according to our readers.
From market projections, new drug approvals, trials in progress and mergers and acquisitions, the biotech sector offered another busy year for news.
With 2018 wrapping up, the Investing News Network (INN) brings investors a look at our five top biotech news stories, according to our readers.
Investors looking to catch up on what made news last year can check out our five top stories from 2017.
A report published by Grand View Research in February indicating global novel drug delivery systems in cancer therapies is set to reach US$26.61 billion in value by 2025, a compound annual growth rate of 22.9 percent.
“Worldwide increasing incidence of cancer, availability of research funding, increase in awareness about alternative methods for treatment, and favorable reimbursement scenarios in developed nations are some of the key drivers of this market,” a summary of the report indicated.
During this year’s Bloom Burton & Co. Healthcare Investment Conference in Toronto, Don McCaffrey, CEO of Resverlogix (TSX:RVX) gave INN an update on the company as it, at the time, prepared for a phase 3 clinical trial for its candidate.
“[It’s] very rare that a small biotech company can complete a Phase 3 cardiovascular trial on their own,” McCaffrey explained.
In April, shares of Shire plc (NASDAQ:SHPG) rose following the US Food and Drug Administration (FDA) approval for rare disease drug Vonvendi, a treatment for perioperative bleeding management in adults with Willebrand disease.
“It’s an important milestone in support of our vision of personalizing treatment and helping to address unmet needs for people with bleeding disorders,” said Andreas Busch, Shire’s global head of research and development.
The approval was given mostly in part to the positive primary results mets from the phase 3 trial from the company
Merges and acquisitions caught the attention of investors as Apricus Biosciences (NASDAQ:APRI) confirmed an all shares merger with private biotech venture Seelos Therapeutics.
“The merged company will focus on the development and commercialization of central nervous system therapeutics with known mechanisms of action in areas with a highly unmet medical need,” Apricus wrote to investors.
The resulting company was renamed Seelos Therapeutics and its ticker symbol was changed to “SEEL.” Richard Pascoe, CEO of Apricus, said the decision was made to merge as it would provide shareholders with “an opportunity to create value from a diversified pipeline of late-stage clinical assets in areas of high unmet need.”
In August, BrainStorm Cell Therapeutics (NASDAQ:BCLI) cleared an interim safety check and was ready to move forward with its phase 3 trial of NurOwn with ALS patients.
The review was conducted independently by the Data Safety Monitoring Board (DSMB). “We welcome the DSMB’s review which confirms the safety profile of NurOwn following repeat dose intrathecal administration,” Chaim Lebovits, president and CEO of BrainStorm said in a statement.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.