Magnolia Neurosciences, co-founded by Accelerator Life Science Partners and The University of Texas MD Anderson Cancer Center, launched with a $31 million Series A financing.

AstraZeneca’s oncology business received a boost as results of a clinical trial showed the company’s drug Lynparza helped women with ovarian cancer live longer without their disease worsening when given as a first-line treatment.

Clovis Oncology Inc. today announced that the European Commission authorized Rubraca (rucaparib) as monotherapy treatment of adult patients with platinum-sensitive, relapsed or progressive, BRCA mutated (germline and/or somatic), high-grade epithelial ovarian, fallopian tube, or primary peritoneal cancer, who have been treated with two or more prior lines of platinum based chemotherapy, and who are unable to tolerate further platinum based chemotherapy.

AstraZeneca and Merck announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a positive opinion, recommending a marketing authorization of Lynparza (olaparib) tablets (300 mg twice daily) for use as a maintenance therapy for patients with platinum-sensitive relapsed high grade, epithelial ovarian, fallopian tube, or primary peritoneal cancer who are in complete response or partial response to platinum-based chemotherapy.

AstraZeneca saw revenues and product sales fall over the course of 2017. Total revenues declined 2 percent to $22.46 billion and product sales fell 5 percent to $20.15 billion.

AstraZeneca and Merck announced that the Japanese Ministry of Health, Labour and Welfare approved Lynparza (olaparib) tablets (300mg twice daily) for use as a maintenance therapy for patients with platinum-sensitive relapsed ovarian cancer, regardless of their BRCA mutation status, who responded to their last platinum-based chemotherapy.

The U.S. Food and Drug Administration approved expanded use of AstraZeneca Plc’s cancer drug Lynparza.

Pfizer’s talazoparib for advanced breast cancer was demonstrated to be superior to chemotherapy in a late-stage study.

Tesaro Inc.’s PARP inhibitor Zejula was approved by the European Commission for recurrent ovarian cancer.

Clovis Oncology Inc. announced the first presentation of a comprehensive dataset from the company’s Phase 3 ARIEL3 study of rucaparib at the 2017 European Society for Medical Oncology (ESMO) Congress in Madrid.