Valeant auctions off Dendreon, skincare assets; Bayer to collaborate with the University of Pittsburgh
• A troubled Valeant has struck a deal to sell Dendreon and its prostate cancer vaccine Provenge to China’s Sanpower Group for $820 million. Valeant plans to pay down debt with the deal. Adding to the haul, Valeant is also selling skincare brands CeraVe, AcneFree and AMBI. The pharma company still has a long way to go, though, as it stares down $30 billion in debt.
• Bayer is tying up with the University of Pittsburgh on a “master collaboration agreement” to advance research for heart, lung and blood disease indications. This partnership covers early-stage research, drug development and big data analysis including real-world evidence studies. Bayer is also backing an independent investigator-initiated clinical trial in sickle cell disease.
• Sweden’s NeuroVive Pharmaceutical AB struck a collaboration agreement with Karolinska Institutet in Stockholm, Sweden, regarding development of the company’s compound NV556 for mitochondrial myopathy.