OncoMed Trying To Regroup After Cancer Stem Cell Pipeline Failures
After the Phase II failure of anti-cancer stem cell antibody tarextumab in small-cell lung cancer, another in a string of failures, execs highlight potential of other pipeline assets, including immuno-oncology targets.
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OncoMed lays off half its employees after a series of recent clinical setbacks. Meanwhile, six public companies raise $1.64bn in $100m-plus follow-on and debt offerings, SV Health Investors closed a $400m venture capital fund and eight therapeutics firms grabbed $247.5m in VC cash.
The California biotech's Phase II pancreatic cancer candidate demcizumab failed to show benefit versus placebo for progression-free or overall survival. Meanwhile, Bayer decided not to exercise its options on a pair of Wnt pathway candidates under a 2010 collaboration with OncoMed.
Part 2: High costs are built into the rare disease business model. Participants at a roundtable discussion led by Scrip at the J.P. Morgan Healthcare Conference talked about how much they are feeling the pressure on pricing.