Firm revises second Phase III trial for co-primary endpoints, possibly improving its chances of success for demonstrating efficacy on a sign of dry eye disease. Initial Phase III study missed ocular redness measure.

Company hopes a different formulation of its intracanicular insert of cyclosporin might provide longer duration of drug in the eye and better tear production with it.

The drug development arm of the UK charity, Cancer Research UK, has started early clinical development of potentially a new type of anticancer, a Cdc7 inhibitor, discovered by Eli Lilly, in an effort that could boost traction in this new area of research.

A review of biopharma startup dealmaking and financing activity from January through March 2017, based on data from Strategic Transactions, showed a 19% decline in startup financing compared with the fourth quarter of 2016, but big pharmas provided capital in the form of alliance fees.