Are you curious about what's going on east of Highway 101, where the nation's capital for biotechnology and close to a quarter of South City's assessed valuation comes from? Here's a handy round-up of news from the past week.
Clinical Trials
South San Francisco-based company Oxigene, which develops cancer-fighting drugs, announced yesterday that they will fully enroll a clinical study of an ovarian cancer treatment.
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The company has passed a toxicity safety test for the treatment, which involved administering the treatment to 25 patients. The treatment in trial is a combination of SYBRESTAT and bevacizumab for patients with advanced ovarian cancer.
"This Phase 2 study is a major initiative for OXiGENE, potentially pointing the way to a promising new treatment option for patients with advanced ovarian cancer who have few if any therapeutic options," Jai Balkissoon, Vice President of Clinical Development for the company, said in a press release.
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Investment
Last week, South San Francisco company CytomX Therapeutics expanded its Series B round of funding $11 million to reach $41 million total. Canaan Partners was the primary investor, but existing investors Third Rock Ventures and Roche Centure Fund also participated.
Also, Tim Shannon of Canaan Partners is now joining CytomX’s board of directors.
According to the San Francisco Business Times, CytomX has increased its staff 75% in the past 18 months. The company now employs 24 people.
The Business Times also reported that CytomX moved to South City from Southern California in 2010 “to be closer to a larger biotech workforce as well as nearer to investors.”
Real Estate
Last week, Terrano Realty purchased the property at 490 to 500 Carleton Court east of Highway 101 for about $3.6 million. On the property is one multi-tenant building with about 24,000 square feet.
Website Launch
South San Francisco company BioSeek announced the launch of a new website yesterday with a database to help pharmaceautical companies better predict how chemicals will perform in clinical trials. The hope is to imrpove the success rate of trials.
According to the new website: “We apply our custom Predictive Analytics to compare the profile of your test compound with our reference profiles. The results inform the next steps in development.”
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