Galena Reaches Deal with Teva, IRIDEX Wins FDA & CE Approval: Healthcare Business Recap

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Galena Biopharma has reached an agreement with a subsidiary of Teva Pharmaceutical Industries Limited (NYSE:TEVA) for the commercialization of NeuVax” (nelipepimut-S or E75) in Israel, according to a Tuesday press release. The former is a biotech firm focused on the development of innovative, targeted oncology treatments. Its President and Chief Executive Mark Ahn, Ph.D.  said that, “This agreement is the first piece of our global commercialization strategy. Teva is a world-class pharmaceutical company and a major pharmaceutical company in Israel. We look forward to their valuable financial support towards our development goals in Israel as well as market leadership for NeuVax commercialization in the region.”

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In a Tuesday release, IRIDEX Corporation (NASDAQ:IRIX) reported FDA and CE approval of its TxCell Scanning Laser delivery system. The new product speeds up a number of different laser photocoagulation procedures by allowing physicians to deliver the laser in a multi-spot scanning mode, comprising a more efficient method for these procedures as opposed to the traditional single spot mode.

On Tuesday, Discovery Laboratories (NASDAQ:DSCO) released data from a new pharmacoeconomic analysis which shows that the previously-reported reduced rate of reintubation in preterm infants which were treated with Surfaxin could also result in an average potential hospital cost savings of $389,247 per 100 treated infants. This could be accomplished by the reduction of the frequency of bronchopulmonary dysplasia when compared with reintubation rates of infants treated with the current global market leading surfactants, Curosurf and Survanta. This material is being presented at the 2012 Hot Topics in Neonatology Annual Meeting held between December 2nd and 4th in Washington, D.C.

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