Life sciences briefing: Thursday, Nov. 8, 2007
Featured companies: Formac Pharmaceuticals, Pradama, Protein Sciences, SantoSolve, Scandius BioMedical
UPDATED: Expanded items on Protein Sciences, SantoSolve, Scandius and Pradama.
Vaccine maker Protein Sciences gets $1M — Protein Sciences, a Meriden, Conn., biotech working on a faster way to make flu vaccines, raised $1 million in a convertible-debt offering. Diamyd Medical, a Stockholm-based biotech focused on diabetes, provided the funding.
The funding boosts Diamyd’s total investment in Protein Sciences to $4 million. Conversion of its earlier investment made the Swedish… Continue Reading
A biotech flu vaccine and the seduction of hype
(UPDATED: See below.)
Vaccine developer Protein Sciences is all over the blogosphere today (see, for instance, items on Pharmalot and the WSJ health blog), thanks to a breathless Bloomberg piece on the little Meriden, Conn., biotech. According to Bloomberg reporter John Lauerman’s article, Protein Sciences is poised to vanquish establish flu vaccines from Big Pharma giants Novartis and GlaxoSmithKline, in an interesting case study of what happens when a quote-worthy biotech executive catches the ear of a… Continue Reading