Life sciences briefing: Friday, Feb. 8, 2008
Summary
The startup is one of the latest companies to enter the perilous inhaled-drug territory, which recently claimed two high-profile inhaled-insulin products — Exubera, which Pfizer pulled from the market after dropping a huge sum on marketing, and Novo Nordisk’s AERx inhaler, which the company dropped in mid-development after Pfizer’s move. AerovectRx is developing a device with a vibrating mesh intended to turn a drug preparation into an aerosol for inhalation. The company hasn’t said which drugs it aims to use with the device, although an official told VentureWire that the decision will partly depend on which corporate partners it can strike deals with. AerovectRx also plans to develop its own drugs for use with the device, and is looking into a half-dozen possibilities ranging from treatments for steroid-resistant asthma to lung cancer. Orion Healthcare aims for $250 million life-science fund — Orion Healthcare Equity Partners, a new VC firm formed by former investors with Oxford Bioscience Partners and Atlas Venture, is looking to raise $250 million for a new life-sciences fund, VentureWire reports.