Morning Read: Hatteras Venture Partners raises $90M for fifth fund, BioMarin in $570M breast cancer drug deal

BioMarin Pharmaceutials is selling the global license for its PARP inhibitor talazoparibin to Medivation in a $570 million deal. Hatteras Venture Partners has raised $90 million as part of its first close for its fifth venture fund.

By Stephanie Baum on August 25, 2015

TOP STORIES

Hatteras Venture Partners has raised $90 million as part of its first close for its fifth venture fund. According to its website the company hopes to raise $150 million for the fund — which would be its largest to date. It will invest in early stage life science companies and health IT companies in Southeastern U.S., picking up where the previous fund, Hatteras Discovery, left off.  — Xconomy

BioMarin Pharmaceuticals has agreed to sell the global license for its PARP inhibitor talazoparibin to Medivation in a deal valued at $570 million. The drug is in Phase 3 development to treat deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer. BioMarin Chief Medical Officer Hank Fuchs said the deal would help it focus on developing treatments for rare genetic diseases. — BioMarin Pharmaceuticals

PAYERS-PROVIDERS

A series of pilot programs in Ventura and Los Angeles counties are using some paramedics for non emergency, preventive care for areas like congestive heart failure and tuberculosis. The hope is that preventive care will save money by helping to manage these patients’ conditions so they don’t become costly emergency room patients later on. But some express concern over how are they sharing their observations and treatment with other, relevant healthcare professionals to follow up. — Los Angeles Times

Pennsylvania-based Capital Blue Cross is making AmericanWell’s telemedicine service available to most of its members at a discount. It is part of a broader trend adopted by other insurers including UnitedHealthcare, Multicare Health System and others. — MobiHealthNews

A new study indicates that it is cheaper to have a baby at home as opposed to in the hospital. But is it safer? Canada makes much use of midwives. But with a little more than half of U.S. States making it legal for midwives to practice and lacking the rigorous, standardized regulatory framework for that Canada has, it’s not a viable alternative for most people. — Fierce Health Finance

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TECH

Xerox has acquired RSA Medical. The business will be integrated into Xerox’s Commercial Healthcare Services to add health assessment and risk management for members to improve its service to insurers, particularly member engagement. — Xerox

Inavolon has acquired Avalere Health in a $140 million, helping the cloud-based analytics company’s move into the pharma/life sciences market. —Inavolon

POLITICS

House GOP leaders are looking at a package of healthcare bills this fall that will target some of the taxes under the Affordable Care Act.

“We’re going to continue to focus on ObamaCare implementation, but we’re also looking at a number of the tax provisions that need to be repealed,” Rep. Kevin Brady (R-Texas), chairman of the Ways and Means Committee’s Health Subcommittee said in an interview on Monday.

— The Hill

A LITTLE BIT EXTRA

Alibaba announced the launch of DT PAI, a new artificial intelligence service in its Aliyun public cloud. The company will launch a free public trial of the service for a select group of early users in the next few weeks.

When it comes to logistic regression, a type of statistical model, DT PAI “can process data with 10 billion plus dimensions of features and 100 billion plus of records,” DT PAI product manager Xiao Wei told VentureBeat. — VentureBeat

Nicole Oran contributed to this story

Photo: Flickr user Peasap