Galaxy Biotech, LLC, a biotechnology company focused on developing monoclonal antibodies for the treatment of cancer, announced that it has received notice from Takeda Pharmaceutical Company terminating its pharma licensing pact from Galaxy Biotech to develop and commercialize humanized L2G7 (also designated as HuL2G7 and TAK-701), an antibody that targets hepatocyte growth factor (HGF).
During 2011 there were eleven partnering deal terminations where the value of the original deal was in excess of $500 million Read the full story
The deal was announced with fanfare in 2009 with a headline value of $1.24 billion, but was terminated recently as a result of disappointing phase III study results Read the full story
AstraZeneca and Targacept announced top-line results from the remaining Phase 3 studies investigating efficacy, tolerability and safety of TC-5214 as an adjunct therapy to an antidepressant in patients with major depressive disorder who did not respond adequately to initial antidepressant treatment. Read the full story