Capricor shares blasted as PhII heart study fails; Sanofi to destroy unused facility in France

→ After looking over disappointing interim results from its Phase II study of CAP-1002 for improving outcomes for heart attack patients, Capricor $CAPR is throwing in the towel and refocusing on Duchenne muscular dystrophy. The biotech — which develops cell therapies — says it plans to cut staff in order to conserve cash. Its stock was eviscerated, dropping 59% on the news.

Sanofi spent $126 million building a pilot plant at its Montpellier R&D campus in France. But while the company focused on a frustrating effort to reduce staff in France, it never opened the facility. And now it plans to bulldoze it, citing a changing portfolio, according to a report by in-Pharma Technologist.

Seikagaku and Ono Pharmaceutical have struck a collaboration deal to co-develop and market the late-stage osteoarthritis drug SI-613 in Japan. The companies plan to continue to pursue discussions, looking to sign a definitive agreement on SI-613.

Image: Google StreetView
Sanofi – 390 Rue du Pilori, 34080 Montpellier, France

The best place to read Endpoints News? In your inbox.

Full-text daily reports for those who discover, develop, and market drugs. Join 19,000+ biopharma pros who read Endpoints News by email every day.

Free Subscription

PODD 2017

BioNJ CEO Summit 2017