InterMune Inc. raised $150 million in a private placement of convertible senior notes as part of a plan to reduce its burn rate and narrow its focus in two therapeutic areas. (BioWorld Today)
Vion Pharmaceuticals Inc. discontinued enrollment of a Phase II study of Triapine as a single agent in patients with prostate cancer in order to focus its resources on the drug's more promising trials - those studying it as a combination therapy. (BioWorld Today)
Renovis Inc. entered the public arena as the third biotech company to conduct an initial public offering this year, raising $66 million. (BioWorld Today)
Almost four years after starting a research collaboration with Novartis Pharma AG, Vertex Pharmaceuticals Inc. secured another $100 million in funding as it nears the clinic with small-molecule kinase inhibitors. (BioWorld Today)
Five public offerings in less than two weeks places 2004 more than a month ahead of last year in terms of follow-on funds raised. The two newest offerings on Tuesday benefited Antigenics Inc., which raised $52.5 million, and Onyx Pharmaceuticals Inc., which raised $156.5 million. (BioWorld Today)
