Drug developer Anacor cancels IPO plans
Biotech firm Anacor Pharmaceuticals has withdrawn its filing to go public after an arduous 16-month wait (unprecedented for health care enterprises, reports VentureWire). The Palo Alto, Calif.-based company says the market is not optimal to hit its target of $57.5 million in the sale.
Anacor, currently working on a therapy to treat nail fungal infections, had earmarked $49 million of that sum for further research and development of its lead drug candidate. It had already struck… Continue Reading
Anacor, anti-fungal therapy co., gets $50M from Schering-Plough
Palo Alto’s Anacor Pharmaceuticals, a company developing a topical anti-fungal therapy currently in Phase 2 clinical trials, said it will receive a $40 million upfront payment and a $10 million financing commitment from Schering-Plough.
As part of the deal, Anacor enters into an exclusive, worldwide agreement with Schering-Plough for development and commercialization of the drug, called AN2690. The drug treats onychomycosis, a fungal infection of the nail and nail bed that affects 7 to 10 percent… Continue Reading