Galera considers 'strategic' options; Novo partners with French biotech; AnHeart gets $40M
Plus, news about Imagine Pharma.
Galera to seek ‘strategic alternatives’ after FDA rejection: The company said Tuesday that the FDA asked for another Phase III trial for avasopasem in patients with head and neck cancer and radiotherapy-induced severe oral mucositis. The regulator had rejected the therapy back in August. Galera, which has now also halted two studies for rucosopasem manganese, is considering strategic options, including a merger, sale or divestiture. Its stock fell 55% on Tuesday morning.
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