{"id":118403,"date":"2009-12-24T01:20:09","date_gmt":"2009-12-24T06:20:09","guid":{"rendered":"http:\/\/www.xconomy.com\/?p=56713"},"modified":"2009-12-24T01:20:09","modified_gmt":"2009-12-24T06:20:09","slug":"cell-therapeutics-dangles-exec-bonuses-oncothyreon%e2%80%99s-turnaround-year-vlst-layoffs-more-seattle-area-life-sciences-news","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/118403","title":{"rendered":"Cell Therapeutics Dangles Exec Bonuses, Oncothyreon\u2019s Turnaround Year, VLST Layoffs, & More Seattle-Area Life Sciences News"},"content":{"rendered":"\n
Roundup<\/a>, Biotech<\/a>, deals<\/a><\/div>\n

\t\tLuke Timmerman wrote:<\/strong><\/p>\n

This was the last week of 2009 that anybody could realistically get deals done, and quite a few did.<\/p>\n

—Bothell, WA-based OncoGenex Pharmaceuticals<\/strong> (NASDAQ: OGXI<\/a>) secured a partnership to develop its experimental prostate cancer treatment with Israel-based Teva Pharmaceutical, the generic drug giant. OncoGenex pulled in $60 million in upfront cash<\/a>, but investors objected to the deal when they learned that Carlsbad, CA-based Isis Pharmaceuticals will actually capture almost one-third of the future milestones and royalties<\/a> that would otherwise go to OncoGenex.<\/p>\n

—ZymoGenetics<\/strong> (NASDAQ: ZGEN<\/a>), the Seattle-based biotech company, said it has regained full U.S. rights to recombinant thrombin<\/a> (Recothrom) after its partner, Bayer, decided to walk away from the product in al markets except Canada. This drug has been a big disappointment in the marketplace, although CEO Doug Williams says the company still expects it to supplant a rival drug from King Pharmaceuticals as the dominant product for stopping excess surgical bleeding.<\/p>\n

—Seattle-based Cell Therapeutics<\/strong> (NASDAQ: CTIC<\/a>) found a way to survive a near-death experience in 2009, and now the board is offering up a potentially lucrative series of management bonuses<\/a> if the company can hit a few more goals over the next couple years. The executives will certainly be in a much better position to cash in if they succeed in persuading an FDA advisory panel that the company’s treatment for non-Hodgkin’s lymphoma, pixantrone, should be cleared for sale in the U.S. That big day is now scheduled for February 10.<\/a><\/p>\n

—VLST<\/strong>, the Seattle-based company seeking to discover new targets for drugs against autoimmune diseases, has cut an undisclosed number of jobs to preserve its cash<\/a>. The company is still working to fill up the pipeline of drug candidates for its partner, Novo Nordisk.<\/p>\n

—Seattle Genetics<\/strong> (NASDAQ: SGEN<\/a>), the Bothell, WA-based developer of antibody drugs for cancer, put the capstone on a big year when it clinched a licensing deal with GlaxoSmithKline<\/a> that brought in $12 million in upfront cash. GSK will use the Seattle Genetics technology for linking antibodies against an undisclosed number of targets to potent toxins.<\/p>\n

—Oncothyreon<\/strong> (NASDAQ: ONTY<\/a>) looked like a goner a year ago, …Next Page »<\/a><\/span><\/p>\n

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Roundup, Biotech, deals Luke Timmerman wrote: This was the last week of 2009 that anybody could realistically get deals done, and quite a few did. —Bothell, WA-based OncoGenex Pharmaceuticals (NASDAQ: OGXI) secured a partnership to develop its experimental prostate cancer treatment with Israel-based Teva Pharmaceutical, the generic drug giant. OncoGenex pulled in $60 million in […]<\/p>\n","protected":false},"author":1192,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-118403","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/118403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1192"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=118403"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/118403\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=118403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=118403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=118403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}