CIRM approves $20M award - with a catch - for StemCells Alzheimer's research

StemCells Inc. and three other research projects won a total of $63 million in funding Wednesday night from California's stem cell research funding agency. But the $20 million earmarked by the California Institute for Regenerative Medicine for StemCells (NASDAQ: STEM) -- the Newark company's second award in two months -- comes with a catch. StemCells must satisfy CIRM staff of "the company's ability to access the capital needed to fund the project."

OncoMed files for $115 million IPO

OncoMed Pharmaceuticals Inc. is seeking $115 million in an initial public stock offering, the company said Friday. The Redwood City-based cancer drug developer, one of the most successful Bay Area biotech companies at raising venture capital over the past five years, said it will use proceeds of the IPO to advance its lead drug -- demcizumab, or OMP-21M18 -- and two other drugs into Phase II clinical trials and for programs with partners GlaxoSmithKline and Bayer AG.

Big shift ahead for biotech

Technology could completely redefine how the American public handles health care, and it could happen a lot sooner than you might expect.
The shift could start within a decade, panelists said at a discussion on “what will biotech look like in 10 years?” Friday at Calbio 2012.
See also: Biotech's battle: Rebuild industry for next wave of drugs

Mr. Hastings goes to Washington, fights for drug approvals

OncoMed Pharmaceuticals ’ Paul Hastings threw down some interesting facts and ideas to a House Energy and Commerce health subcommittee hearing Thursday. Whether committee chair Fred Upton and his counterparts will pick them up is another thing.
The hearing comes as Congress looks at reauthorizing the Prescription Drug User Fee Act, or PDUFA, which is designed to allow the Food and Drug Administration to decide in a timely manner whether a drug is safe and effective. The program is funded by drug company fees.

FDA approves trials of OncoMed cancer drug, triggering $20M milestone

OncoMed Pharmaceuticals Inc. said Thursday that the U.S. Food and Drug Administration has accepted an Investigational New Drug filing for its cancer drug.
Redwood City-based OncoMed said it can now begin Phase I clinical testing of OMP-18R5, triggering a $20 million milestone payment from Bayer to OncoMed.

Bayer, OncoMed expand cancer stem cell deal

Bayer HealthCare and OncoMed Pharmaceuticals Inc. are expanding their collaboration focusing on developing drugs that zero in on tumor-initiating cancer stem cells.
Bayer now will manufacture in its Berkeley facility the bulk drug substance for a drug that Redwood City-based OncoMed plans to take into a Phase I clinical trial in 2012.

OncoMed starts early test of solid tumor cancer drug