Life Sciences Roundup: Halozyme, Avalon Ventures, Auspex & More

Xconomy San Diego — 

In case anyone noticed last week that I was missing, I’ve enclosed a photo below from Rocky Mountain National Park, where I spent much of my vacation.  And in case anyone is wondering why I came back, here’s my latest update on San Diego’s life sciences news.

—In a huge setback for Halozyme Therapeutics (NASDAQ: HALO), the FDA asked the San Diego company and two pharma partners to halt patient testing of combo drugs that use Halozyme’s recombinant human hyaluronidase, or rHuPH20. The FDA asked the company for pre-clinical data to put to rest agency concerns that the Halozyme enzyme would not affect human reproduction or fertility. More than 10.6 million Halozyme shares changed hands on the news, a 1,307 percent increase over its 65-day average volume, as the share price fell by almost 50 percent to $4.30. P

—San Diego-based Avalon Ventures, which is one of the most active life sciences VC firms in San Diego, has begun to raise capital for its 10th investment fund, according to a Dow Jones. The venture firm founded by Kevin Kinsella, which also has an office in Boston, plans to raise at least $200 million, according to the report.

Auspex Pharmaceuticals, which is developing deuterium-based analogs of clinically validated drugs, has raised $1.5 million of a planned $3 million round of debt and rights, according to … Next Page »

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