Top 5 News Stories 2/17-2/24

1. Newly-approved FDA drug dramatically changing lives of CF patients Fox News – 2/17/12

On the surface, Lindsay Shipp’s story may sound sad, but it’s a story of hope with a happy ending. All her life, Shipp has been trying to keep up a positive attitude. She knew the disease from which she suffered – cystic fibrosis – could cut her life short, but she tried to play it off like she was fine. Link

2. FDA to ease critical cancer drug shortage with help from new suppliers CBS News – 2/21/12

The federal government is stepping in to help ease the shortage of two life-saving cancer drugs, Doxil and methotrexate, regulators announced Tuesday. The FDA said it will temporarily allow importation of a replacement drug for Doxil, a drug for ovarian and other cancers that hasn’t been available for new patients for months. Link

3. Mass. gives $21M in life sciences tax breaks Boston Herald Biz Smart – 2/22/12

The Massachusetts Life Sciences Center today announced its board of directors had awarded $21.2 million in tax incentives to 28 life sciences companies that have committed to creating more than 940 new jobs this year. Link

4. Satori Pharma socks away $15.5M in fundraise Mass High Tech – 2/23/12

Satori Pharmaceuticals has landed $15.5 million in funding to further its research in the treatment of Alzheimer’s disease, the company announced today. InterWest Partners, New Enterprise Associates Inc. and Prospect Venture Partners, all existing investors, co-led the investment in the developer of treatments for neurodegenerative disorders. Link

5. Russian biotech fund sets up Boston office Boston Herald Biz Smart – 2/23/12

A Russian venture fund has set up shop in Boston with plans to invest in the area’s thriving biotech industry. The $100 million Maxwell Biotech Venture Fund, the first Russian venture fund dedicated to investments in the life sciences sector, recently opened an office in the Back Bay. Peter Abair, director of global affairs at the Massachusetts Biotechnology Council, said some of the people from Russian Venture Company, which helped form the fund, have worked in Massachusetts for years. Link