SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Sep 19, 2012) - Despite concerns of a global economic slowdown the Biotech Industry has impressed investors with strong gains in 2012. Patent expirations, favorable legislation, and a faster review process have been some of the contributing factors for the industry's current boom. The Paragon Report examines investing opportunities in the Biotechnology Industry and provides equity research on Halozyme Therapeutics, Inc. (NASDAQ: HALO) and XOMA Corporation (NASDAQ: XOMA).
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The Food and Drug Administration Safety and Innovation Act (FDASIA) was signed into law on July 9, 2012 by President Obama. The law allows the FDA to collect "user fees" to help fund reviews of innovator drugs, medical devices, generic drugs and biosimilars.
"The legislation will enhance the development and review of innovative new therapies through increased transparency and scientific dialogue, advancements in regulatory science and strengthened post-market review. It will also increase the Food and Drug Administration's (FDA) access to external expertise to improve the drug review process." Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood said in a statement.
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Halozyme's research focuses primarily on a family of human enzymes, known as hyaluronidases, which increase the absorption and dispersion of biologics. The company's pipeline addresses therapeutic areas, such as diabetes, oncology and dermatology that have significant unmet medical need.
XOMA focuses its antibody research and development on allosteric modulation, which offers opportunities for new classes of therapeutic antibodies to treat a wide range of human diseases. The company recently received Orphan Drug Designation from the FDA for its lead product gevokizumab.
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