Posts tagged “Pozen”
Pozen acknowledges in its latest financial report than company founder and CEO John Plachetka has already been paid millions to leave the company. And he will continue to cash out for a while with scheduled bonuses, according to his separation agreement.
The new management team put in place at Pozen Pharmaceuticals last week is wasting no time in revamping the Chapel Hill based company. The firm has raised a $350 million commitment in capital, is buying a Canada-based drug firm, and after closing will form a new venture named Aralez that will be based in Ireland.
John Plachetka, the founder, chair and CEO of Pozen who grew the company to an IPO and oversaw development of a safer aspirin, has been replaced at the Chapel Hill company. He also won't be a member of the board. Two execs from another firm are taking over, including a CEO who has a history of leading drug companies such as Inspire, than have been acquired. On Tuesday, the new team formed a subsidiary in ireland.
Trending in the Triangle: Get the pulse of technology in the Triangle with the best in local technology, venture, biotech, and life science news on Thursday, Dec. 18, 2014 as curated by @WRALTechWire.
2014 is coming to a miserable close for Chapel Hill-based Pozen. After its stock was pummeled 30 percent when Pozen and drug giant Sanofi mutually terminated a $35 million drug deal earlier this month, on Wednesday Pozen disclosed another FDA delay in approval of a new pain killer.
Shares in Pozen were rocked Monday after the Chapel Hill-based firm announced the "mutually" terminated drug partnership deal with Sanofi. Shares rallied after falling as much as 30 percent. As part of the deal, Pozen does stand to benefit from some work done by Sanofi in the development of Pozen's "safer aspirin."
As Pozen nears possible approval of its "safer aspirin" product, the Chapel Hill-based pharmaceutical firm and drug giant Sanofi say they are terminating an agreement reached in 2013 that was worth as much as $35 million to the smaller company. The news triggered a 30 percent drop in Pozen's share price.
The pharmaceutical company's royalty revenue continues to rise and they expect a profitable year, but setbacks in drug candidates with the FDA have the company cutting staff in research and development to protect its balance sheet.
Domestic violence costs tech CEO his job; setback for Pozen; Duke's solar shines; new name for Cornerstone; Nokia picks CEO
In today's Bulldog blog tech and life science roundup, check out headline news from Cornerstone Therapeutics, Nokia, Pozen, Duke Energy and a tech exec who says he was fired because of a conviction for domestic violence.
Raleigh M2M firm sold; Metabolon's new deal; Red Hat expands 'cloud;' FDA nod for OxyBio; Pozen cuts losses; reboot costs TransEnterix
In today's Bullbog blog rounding up the latest tech and life science news: Raleigh-based Jazz Wireless is sold; Metabolon makes a deal with Craig Venter firm; Red Hat joins AWS GovCloud; Oxygen Biotherapeutics can advance research on brain treatment; Pozen cuts its losses; and TransEnterix losses mount as company reboots.
In the news: Alicia Keys and Blackberry; Pozen; Hyundai and Google Glass; Facebook suit; Google cartoon patent
Bulldog Blog: The latest technology news includes Blackberry parting ways with singer Alicia Keys; Hyundai offering Google Glass apps; Facebook faces a privacy suit over scanning of messages; and Google wins a patent for creating comic strips on social networks; Pozen promotes an executive.
Pozen will conduct a phase I trial comparing two dosages of its safer aspirin in order to answer FDA questions about its effects. Read more about the additional clinical study.
With a sales force already dedicated to selling an osteoarthritis drug, Horizon Pharma is better suited to selling Pozen's pain drug Vimovo. Read more about how Pozen benefits from the deal.
The key to the deal for Pozen is guaranteed minimum royalty payments for Vimovo, an osteo-arthritis drug, the Chapel Hill-based company says.
After landing Sanofi as a drug partner to commercialize its cardiovascular drug, Pozen is now pursuing a drug partner in cancer. Read why Pozen believes cancer is the next best opportunity for the company.
Is Pozen-AstraZeneca partnership unraveling? Firms amend sales-challenged arthritis drug Vimovo deal
Chapel-Hill based Pozen and AstraZeneca have amended their agreement on osteo-arthritis drug Vimovo, paving the way for what could be an unraveling of a drug partnership dating to 2006. Sales have disappointed both firms.
Early-stage startups seeking money weren't the only companies taking the stage at CED's Tech Venture Conference. WRALTechWire Insiders can read all about six companies that have grown from upstarts to stalwarts in their respective sectors. Will Bronto, Netsertive, Overture, ReverbNation, StrikeIron and WebAssign someday go the IPO route?