News Update: Endocyte, Inc. (NASDAQ:ECYT); Tibco Software Inc. (NASDAQ:TIBX); Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)
Dallas, Texas, 09/29/2014 (ustrademedia) – Drug maker Endocyte, Inc. (NASDAQ:ECYT) reported on 27th September that its clinical trials called TARGET Phase 2b, related to testing out “drug conjugate (SMDC) vintafolide” in tandem with “docetaxel” has indicated that the overall survival rate of patients who were suffering from “non-small cell lung cancer” had gone up in comparison to patients who were treated with traditional “monotherapy docetaxel”. The drug maker also disclosed that it would be presenting the data for peer review at the European Society for Medical Oncology Congress on 27th September. The drug maker has also indicated that it would be hosting a conference call today, 29th September to elaborate on the clinical test findings.
IT middleware infrastructure and solutions provider Tibco Software Inc. (NASDAQ:TIBX) disclosed on 29th September that it has agreed to be bought out by private equity firm Vista Equity Partners. The private firm has agreed to pay $24 per share of Tibco Software Inc. (NASDAQ:TIBX) in cash to complete the buyout. The entire deal is valued at $4.3 billion. The deal also envisions the private equity firm assuming the net debt accumulated by the software maker on to its books. Tibco Software Inc. (NASDAQ:TIBX) board of directors are said to have unanimously given their go ahead to this deal, post the recommendation of the Special Committee which had been set up by the board to review its strategic priorities.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) announced today that it has presented positive data from its clinical testing of test drug AP26113 (tyrosine kinase inhibitor) at the 2014 European Cancer Congress on 27th September. The congress was being held in Madrid, Spain. The test drug is designed to treat patients who are suffering from lung cancer caused by non-small cells. The anti-tumour activity was witnessed to be at its peak in patients who had been administered the test doses, the drug firm reported.