Denovo takes on failed Lilly cancer drug

San Diego firm Denovo Biopharma is hoping to breathe fresh life into a drug written off by Lilly after it failed late-stage trials. The privately held biotech company believes that its technology for discovering biomarkers using archived clinical trial samples may enable it to identify subsets of patients who are more likely to respond to treatment with the drug, enzastaurin. It has acquired all rights to the drug worldwide.