Lexicon Genetics announced the completion of two performance milestones related to work it is doing in collaboration with Genentech. The completion of these milestones entitles Lexicon to two performance payments totaling $20 million. Lexicon received the first of these payments in connection with its achievement of the fourth and final performance milestone in its initial collaboration with Genentech. This milestone relates to the completion by Lexicon of the analysis of the physiological and behavioral functions of the final set of targets selected from Genentech’s Secreted Protein Discovery Initiative (SPDI) program. Read the press release.
Mayo Clinic has validated and will offer to patients worldwide a test that enables its laboratory to determine through genetic screening which patients are likely to have a serious adverse reaction to irinotecan hydrochloride (Camptosar), a key component of the standard first-line treatment for advanced colon cancer and rectal cancer. Read the press release.
Open Biosystems announced that four renowned cancer centers have adopted the company's short hairpin RNA (shRNAmir) technology to aid in the identification of advanced cancer treatment options. Duke University, the National Institutes of Health's National Cancer Institute, Lee Moffitt Cancer Center and Fox Chase Cancer Center have invested in human and/or mouse shRNAmir whole genome libraries to accelerate research related to cancer biology and drug discovery. Website: www.openbiosystems.com.
Tata Consultancy Services announced a strategic engagement with Novo Nordisk for the implementation of an off-shore clinical operations service. Using its extensive domain knowledge and pool of skilled professionals from the pharmaceutical sector, TCS will provide a suite of data management services that include designing, capturing, and coding of trial data gathered from clinical trials that are run by Novo Nordisk across the globe out of its state-of-the-art BPO facility in Mumbai. Read the press release.
Osiris Therapeutics announced that it has closed a $19 million private equity round. The money will fund the company's five ongoing clinical trial programs using their proprietary adult stem cell technology platform. The round was arranged by Swiss investment firm Friedli Corporate Finance, Inc. In total, the company has raised $70 million in 2005. Website: www.osiristx.com.
Thermo Electron Corporation announce the commercial availability of Darwin LIMS, the latest evolution in commercial-off-the-shelf laboratory information management systems (LIMS) for pharmaceutical manufacturing R&D and QA/QC. Read the press release.