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New York, NY -- (SBWIRE) -- 09/09/2013 -- Biogen Idec Inc. (NASDAQ:BIIB) entered a six-year research collaboration with Isis Pharmaceuticals Inc. to develop treatments for neurological disorders, under which Biogen will gain exclusive rights to Isis’ antisense technology in the neurological space. Under the latest agreement, which expands the relationship between the two drug companies, Isis will receive $100 million upfront. The deal also includes as much as $220 million in milestone payments related to the anitsense technology, which is designed to alter a gene’s function. The shares rose 0.64% to $226.63.
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BioLine RX Ltd. (NASDAQ:BLRX) received orphan drug designation for its BL-8040 drug candidate to treat acute myeloid leukemia from the U.S. Food and Drug Administration. The status is granted to therapies for rare diseases and bring advantages such as a seven-year market exclusivity period and tax credits. Shares rose 9.10% to $2.28.
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TG Therapeutics, Inc. (NASDAQ:TGTX), an innovative, clinical-stage biopharmaceutical company focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The company said its antibody ublituximab has received two orphan drug designations from the U.S. Food and Drug Administration. Ublituximab, also known as TG-1101, received orphan drug designations for the treatment of nodal marginal zone lymphoma and extranodal marginal zone lymphoma, both rare subtypes of non-Hodgkin’s lymphoma.
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Groupon Inc (NASDAQ:GRPN) has announced acquisition of last-minute hotel-booking app Blink, based in Spain and lays stress on European market. The amount has not been disclosed for the deal. The deal comes some days later to HotelTonight, the San Francisco-based company offering similar services focusing on U.S raising $45 million. Groupon Inc. was up more than 5%, and reached a 52-week-high of $11.43 a share. Groupon said it acquired European travel app Blink for an undisclosed amount. Blink offers access to last-minute hotel deals in eight European countries, and Groupon said it would add Blink’s service to its Groupon Getaways business.
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