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Nestlé Sells Gut-Health Test Maker Prometheus Labs, Layoffs Expected

Xconomy

Eight years after San Diego biotech Prometheus Laboratories was acquired by Nestlé Health Science , the diagnostic business has been sold again, this time to a little-known biotech called Precision IBD that plans to lay off approximately a quarter of Prometheus’s workforce.

Layoffs 91
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Halozyme to Restructure After Pancreatic Cancer Drug Fails in Phase 3

Xconomy

An experimental Halozyme Therapeutics treatment for pancreatic cancer has failed a pivotal study, and the company is stopping further development of the drug and closing its oncology operations as part of a corporate restructuring.

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Bio Roundup: Theranos Cuts, Alnylam Stops, Nobel Eats Its Own & More

Xconomy

. —Sarepta Pharmaceuticals (NASDAQ: SRPT ) struck a second deal in as many weeks to develop combination therapies for Duchenne muscular dystrophy. —Ra Pharma filed for an IPO , looking for more cash as it prepares to take on rare disease drug developer Alexion Pharmaceuticals (NASDAQ: ALXN ).

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Biotech Roundup: Moonshots, Pink Slips, Gilead, Brexit & More

Xconomy

If you want fireworks this weekend, you can either celebrate the 4th of July or watch the latest post-Brexit political developments in Britain. AstraZeneca’s olaparib (Lynparza) became the first approved PARP drug in 2014, and several others are being developed, including talazoparib from San Francisco’s Medivation (NASDAQ: MDVN ).

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Biotech Roundup: Hellos, Goodbyes, “Cures” Delays And Trial News

Xconomy

Our San Diego editor Bruce Bigelow penned a personal goodbye to entrepreneur Larry Bock, who died last week of pancreatic cancer at the age of 56. The week started on a reflective note. And then the news flowed, from a fast reprieve for Juno Therapeutics to no mercy for Elizabeth Holmes. —In other Merck news, U.K.-based

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Xconomy’s Top Innovation Stories of the Half Year

Xconomy

Layoffs Reflect New Turbulence at High-Flying 3D Robotics. The Xconversation: Vaccine Developer Meets Energy Innovator. Amid Leadership Changes, NY Biotech Braces for Its Pivotal Moment. Ben Fidler chronicles the rise of New York’s life sciences scene, from startups and investors to universities and nonprofits.

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Bio Roundup: Bosley’s Editas Exit, Bridge Bucks, CRISPR Crime & More

Xconomy

After guiding the CRISPR-Cas9 genome-editing startup from scientific breakthrough toward the development of a potential cutting-edge medicine, slogging victoriously through a legendary patent fight , and reaching the cusp of an historic clinical trial , the well-traveled Bosley is cutting out, the company said Tuesday.

Guide 63