A global biopharmaceutical company.

AbbVie reports excellent results from ABT-494 Stage 2 clinical trials in patients with arthritis rheumatoid AbbVie , a global biopharmaceutical company, today announced results from two Phase 2 clinical trials evaluating its investigational selective JAK1 inhibitor, ABT-494, in individuals with inadequate response to either TNF or methotrexate inhibitors. The clinical trials, BALANCE-II and BALANCE-I, attained ACR20 at week 12 across all dose amounts, except the lowest dose in BALANCE-II eriacta 100 uk . BALANCE-I and BALANCE-II evaluated patients with moderate to severe rheumatoid arthritis with inadequate responses to prior anti-TNF or methotrexate treatment, respectively.

Upon the closing of the PIPE funding, AVEO will receive gross proceeds of around $61 million resulting from the sale of 4.5 million shares of common stock at a purchase price of $13.50 per share, which represents an approximate 7 percent low cost to the closing cost on October 28, 2010. The closing of the PIPE financing is subject to standard closing circumstances. J.P. Morgan Securities LLC and Canaccord Genuity Inc. Served simply because joint lead placement agents for the funding. RBC Capital Markets Corporation served as co-placement agent. Related StoriesMD Anderson study reveals why chemotherapy drugs not effective for many pancreatic cancer patientsNew findings reveal association between colorectal cancer tumor and melanoma drug treatmentFDA grants accelerated acceptance for Tagrisso to treat sufferers with advanced NSCLCThe funding to be elevated in this funding is likely to enable AVEO to accelerate and expand the clinical advancement of tivozanib, its business lead product candidate, in parallel with its ongoing Phase 3 registration trial in individuals with advanced kidney cancers , to crank up its pre-commercial attempts for tivozanib, and to assume development responsibilities for AV-299, its discovered anti-HGF antibody internally.