Pozen 3Q loss narrows despite higher costs
CHAPEL HILL – The Chapel Hill-based drug development firm Pozen Inc. posted a narrower loss of $4.8 million in the third quarter compared with the same quarter last year, despite higher expenses related to a drug development agreement with Sanofi U.S.
The company signed an agreement with Sanofi for the commercializsation of its two aspirin drug candidates in the United States. Pozen is getting a $15 million payment through the deal, and will be eligible for up to $20 million and other future milestone payments and royalties on product sales.
The U.S. Food and Drug Administration is reviewing the new drug application for Pozen’s aspirin candidates, which were developed for use for the secondary-prevention of cardiovascular disease in patients at-risk for aspirin-induced gastric ulcers.
Pozen’s revenues were $2.6 million in the quarter, which included royalties on sales of its drug Vimovo as well as $1.6 million from the Sanofi upfront payment. Its operating expenses were up to $7.4 million, primarily increasing as a result of costs related to the agreement with Sanofi, the company reported.
Winners of 32-hour MetLife ‘TechJam’ announced
DURHAM – More than 75 software developers and other technology enthusiasts competed Nov. 1-2 in the MetLife TechJam at the Research Triangle Foundation of North Carolina headquarters to develop an electronic health record software solution for veterans.
A panel of judges picked winning solutions from the teams, some of which included IBM Corp. developers and others that had high school students, according to a news release.
Prizes were awarded for the overall best solution, as well as for categories including mobile, data integration and augmentation, user experience, and predictive analysis. The overall winner was the team Infusion.
The MetLife TechJam kicked off as MetLife broke ground on its new global technology hub in Cary. MetLife’s move to North Carolina is projected to create a combined 2,600 jobs in Cary and Charlotte by the end of 2015.
‘Hackathon’ to be held at Duke Nov. 16-17
DURHAM -- More than 400 students from nine universities are expected to take part in a “hackathon” at Duke University Nov. 16 and 17.
The teams will tackle hacking challenges, and the winning solutions/teams will receive prizes, according to a news release. Schools participating in the challenge are from Elon, Georgia, Georgia Tech, Maryland, N.C. State, UNC, Virginia, Virginia Tech and Duke.
The hacking competition begins at 3 p.m. and runs through 3 p.m. Sunday at Duke. Students from all over the nation are invited to network and attend workshops during the two-day event.