BioBundle, IPOs grind to a halt

By Karen Bernstein Editor-in-ChiefFinancial fallout from the disappointing Phase III data from Synergen Inc.'s Antril sepsis drug was not long in coming, leading to the postponement last week of the Robertson, Stephens & Co. Biobundle and several IPOs.

The Antril news culminated a string of product disappointments in the past year, including two other sepsis drugs developed by Centocor Inc. and Xoma Corp. as well as chemoprotectives developed by U.S. Bioscience Inc. and MGI Pharma Inc. Coming amid hostile statements on drug pricing from Washington, the news shut down what little was left of the financing window...