New Biotech Startup Targets Noise-Induced Hearing Loss Suffered By 48M Americans
In other pharmaceutical news, a newly approved drug offers relief for Parkinson's patients who experience symptoms of psychosis. And a German company eyes Akorn Pharmaceuticals for acquisition.
Boston Globe:
New Woburn Biotech Targets Hearing Loss With MIT, Partners Discoveries
On Tuesday, [David] Lucchino is formally launching his Woburn startup, Frequency Therapeutics, which seeks to regenerate sensory hair cells in the inner ear to treat the noise-induced hearing loss that affects an estimated 48 million Americans and millions more worldwide. Frequency, which is licensing discoveries by scientists Robert Langer at the Massachusetts Institute of Technology and Jeffrey Karp at Partners HealthCare, just closed a $32 million initial funding round from an investment consortium led by Cobro Ventures Inc. of McLean, Va. (Weisman, 4/11)
Kansas City Star:
New Drug Provides Breakthrough For Patients With Parkinson's Psychosis
Researchers searched for a chemical compound that could treat psychosis without impairing motor skills. ... It took 15 years to get the product to the market under the brand name Nuplazid, which the Food and Drug Administration approved a year ago this month. Though the drug is expensive, with a one-month wholesale cost of $1,950, insurance often covers most of that. (McGuire, 4/10)
Chicago Tribune:
Lake Forest Drugmaker Akorn Confirms It's In Takeover Talks With German Pharma Giant
Shares of Lake Forest-based Akorn Pharmaceuticals closed up more than 9 percent Monday, following news Friday that a German health care company is considering buying the generic drugmaker. Both Akorn and Fresenius Kabi confirmed a Friday Bloomberg report that they are in discussions over a possible acquisition. In separate statements, the companies said their boards would have to approve the deal. "There can be no assurance any transaction will result from these discussions," both companies said. (Schencker, 4/10)
