→ 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.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 35,400+ biopharma pros who read Endpoints News by email every day.Free Subscription