Cancer Research UK has struck a deal with AstraZeneca to repurpose an experimental therapy originally developed by the drug giant for asthma and study its ability to fight kidney cancer.
Staring straight at an almost certain FDA rejection for its kidney cancer drug tivozanib, Cambridge, MA-based Aveo Oncology today grabbed the budget ax and hacked deep into its staff. A total of 140 workers are being laid off--62% of its workforce--and the biotech's COO is joining the exodus in July.
Now that Aveo's share price has been badly mauled in the aftershock of an FDA panel vote rejecting its kidney cancer drug tivozanib, the class action suits are starting to pile up at the front door.
An experimental drug designed to block an overactive protein in kidney cancer may provide a more targeted approach to treating the common cancer and could eventually be used as a therapy for other types of the disease.
Pfizer has run into the U.K. watchdog wall of resistance to targeted cancer drugs with its renal cancer treatment Inlyta.
The company's CEO says that 45 staffers are being pink slipped--17% of the workforce--while another 30 open positions will not be filled. The move should save some $100 million over three years.
The German biotech--a 2005 Fierce 15 company--says that a late-stage kidney cancer therapy Rencarex failed to produce the needed survival data in a lengthy late-stage study, forcing the developer to bury the program and turn to its other Phase III cancer diagnostic program still in clinical development.
Pfizer missed the main goal of a late-stage study involving Torisel, one of the drug giant's approved drugs for kidney cancer. In the failed Phase III study, the Pfizer drug used in combination with Roche's Avastin fell short in comparison with Avastin and interferon-alfa-2a in patients with renal cell carcinoma.
Renal cell carcinoma patients lived longer when they developed responses to peptides in IMA901, Immatics' multipeptide therapeutic vaccine for kidney cancer, according to a new study published in Nature Medicine.
Aveo Oncology gave investors the jitters Thursday, revealing an issue in survival data from a pivotal trial for its lead cancer drug tivozanib. The experimental treatment fared worse than Onyx Pharmaceuticals ($ONXX) and Bayer's Nexavar in an early assessment of overall survival (OS), and Aveo has decided to probe the issue before it asks the FDA for approval of tivozanib.