Peninsula biotech space feels global pharma blues

Compugen's Mary Haak-Frendscho.

The patent expirations and capital efficiency trends sweeping through the global drug industry are playing out in companies’ local real estate decisions. That direction may not bode well in the short term for landlords and developers of biotech space on the Peninsula, with large biopharmaceutical companies buying tiny biotechs and consolidating multiple, smaller locations. But a new generation of biotech companies stands ready to take bits and pieces of the newly available space.

Takeda closing South San Francisco antibody research site

Drug maker Takeda will close the South San Francisco site it once tagged as a key to developing early-stage antibody drugs.

The Japanese company said it is consolidating its South San Francisco and San Diego operations, now called Takeda California, in San Diego.

The move comes as Asia's largest drug maker deals with a falling stock price and declining sales of its best-selling drug, the diabetes treatment Actos, even as net income climbed,according to the news agency Bloomberg. It had announced the consolidation in December but held off until Friday on disclosing the fate of the Bay Area site.

Affymax nabs $5M milestone payment from Takeda

Affymax Inc. said Monday it is expected to received a $5 million development milestone payment from Takeda Pharmaceutical Co.
The Palo Alto-based biopharmaceutical company (NASDAQ:AFFY) said the payment comes as a result of a global agreement between the two companies to develop and commercialize peginesatide — a drug aimed at treating anemia in dialysis patients with chronic kidney disease. It is being co-developed by the two companies.
The payment comes as a result of the European Medicines Agency accepting the Marketing Authorization Application for peginesatide.

Industry view: Changes to business model come slowly to biotech

Entering the fifth year of a funding crisis, biotech’s business model is changing.
Slowly.
New sources of early-stage cash are stepping into the void left by fleeing venture capitalists. But whether those relatively small investments — or corporate venture capital, or grants from disease-specific foundations — are enough to build sustainable companies is an open question.
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FDA panel backs Affymax anemia drug for dialysis patients

A federal advisory panel Wednesday approved Affymax Inc.’s once-a-month anemia drug for kidney dialysis patients.
The 17-member Food and Drug Administration panel of outside experts recommended that the agency approve peginesatide from Palo Alto-based Affymax (NASDAQ: AFFY) and partner Takeda Pharmaceuticals. Two Phase III studies showed that the drug is safe and effective for dialysis patients, but two other late-stage studies found that peginesatide could cause heart problems in kidney patients who weren’t yet on dialysis.
The FDA often follows an advisory panel’s recommendation but isn’t required to do so. The FDA is expected to approve or reject peganesatide by March 27.

Takeda venture arm invests in Redwood Bioscience

The venture arm of Japan’s Takeda Pharmaceutical Co. Ltd. will fund further development of a protein-modification technology from Redwood Bioscience Inc.
Redwood, of Burlingame, said the undisclosed amount from Takeda Ventures Inc. will be used to forward the company’s protein-chemical engineering technology, which could be used to better deliver drugs with better potency.

Impax challenges heartburn drug patents

Generic drug maker Impax Laboratories Inc. is challenging patents around the heartburn drug Dexilant.
Those patents on the delayed-release 30-milligram and 60-milligram version of Dexilant are held by Takeda Pharmaceutical Co., which filed a patent infringement suit Friday against Hayward-based Impax (NASDAQ: IPXL) in U.S. District Court for the Northern District of California.

After earthquake, tsunami, Bay Area biotechs keep close eye on Japan ties

The devastation caused by the earthquake and tsunami in Japan apparently isn’t halting the biotech wheels of commerce between Asia and the Bay Area, though companies are keeping a close eye on recovery operations.