In other news, closed its initial public offering (IPO) of 3.5 million American depository shares (ADSs) at $8.90 per share...Operating expenses for the quarter increased to $128.1 million compared to $66.8 million for the first quarter of 2012, with Jazz citing high cost of product sales due to a change in product mix and lower gross margin due to inclusion of products from the EUSA Pharma acquisition...PM01183 is designed to bind covalently to the minor groove of DNA to induce a specific degradation

Even after the news broke Monday – and the Theravance share price (NASDAQ:THRX) gained more than 14 percent to hit $40 – the entire company was still only valued at $3.94 billion...Editor's note: To obtain a CD of the webinar, "Royalty Financing for Biotech and Medical Device Companies: How to Determine Eligibility and Take Advantage of this Unique Financing Opportunity" or for a deeper dive, BioWorld's Biopharmaceutical Royalty Rates Analysis: Essential Benchmarks for Dealmaking, call 800-477-6307

Even after the news broke Monday – and the Theravance share price (NASDAQ:THRX) gained more than 14 percent to hit $40 – the entire company was still only valued at $3.94 billion...Editor's note: To obtain a CD of the webinar, "Royalty Financing for Biotech and Medical Device Companies: How to Determine Eligibility and Take Advantage of this Unique Financing Opportunity" or for a deeper dive, BioWorld's Biopharmaceutical Royalty Rates Analysis: Essential Benchmarks for Dealmaking, call 800-477-6307

turned its attention to other candidates in its pipeline...continue to view shares as undervalued based on the >$1B potential of ISIS-SMN-Rx, as well as the promise of ISIS-TTR-Rx and Isis' 20+ other pipeline candidates," he wrote...In other earnings news

Allergan licensed rights to the Darpin technology from Molecular Partners AG for development in AMD and other eye diseases. (See BioWorld Today, Aug. 22, 2012.) And Eylea has fared well so far against Roche AG's Lucentis (ranibizumab), due to its lower cost and a label that calls for less frequent dosing, and even to cancer drug Avastin (bevacizumab), a cheaper, off-label alternative

In separate news, another Galapagos unit, Argenta, inked a deal with Boehringer Ingelheim GmbH, of Ingelheim, Germany, to apply its respiratory drug discovery services to an undisclosed target within Boehringer's respiratory disease portfolio...In other news, BioInvent said the first patient has been treated in a Phase II study of BI-505 for smoldering multiple myeloma, or asymptomatic myeloma

Avilex Pharma ApS, of Copenhagen, Denmark, said it has received seed funding from Novo Seeds, the early stage financing arm of Novo A/S, which will be used to support the development of dimeric ligands targeting PDZ domains...In other news, GSK experienced manufacturing delays for manufacture and supply of Horizant (gabapentin enacarbil), partnered with XenoPort Inc., of Santa Clara, Calif., resulting in a stockout of the drug...The firms will aim to offer pharma and biotech companies a set of fully

and European Union with or without pharma support, then partner or sell the assets rather than funding additional development...Kengatharan declined to disclose Armetheon's financing to date but said the company is able to draw from a convertible note as it moves toward a Series A...Armetheon is meeting with investment bankers to complete the second tranche, potentially as a public entity.

In the most recent action in the case, the mass torts law firm of Watts Guerra LLP, of San Antonio, has filed a motion to consolidate the incretins litigation nationally...Pradax is used to prevent clotting in patients who suffer from atrial fibrillation...Sanofi Pasteur Ltd., of Lyon, France, the vaccines division of Sanofi SA, said a decentralized marketing authorization application has been accepted for review in the European Union (EU) countries for a quadrivalent formulation of Vaxigrip, Sanofi

Gilead said it will file for regulatory approval of sofosbuvir in other territories during the second quarter, including the European Union, where the European Medicines Agency accepted the company's request for accelerated assessment...The firms will aim to offer pharma and biotech companies a set of fully integrated nuclear receptor drug discovery capabilities by combining expertise in structural biology, medicinal chemistry, biology, DMPK, pharmacology and safety

Astellas Pharma Inc., of Tokyo, and Nagasaki University signed a collaborative research agreement to discover new drugs for the treatment of neglected tropical diseases (NTDs) caused by dengue virus...In separate news, Astellas signed a deal to access the TSUBAME2.0 supercomputer at the Tokyo Institute of Technology to discover candidates for NTDs caused by dengue virus...In other news, The Nasdaq OMX Stockholm's listing committee approved the listing of NeuroVive's shares

Astellas Pharma Inc., of Tokyo, said the European Commission approved expanded options for pre-treatment prior to use of Qutenza (8 percent capsaicin patch...Medigene's partner, Nordic Pharma Group, of Paris, is planning to launch Veregen in the Czech Republic, Poland, Hungary and Slovakia this year, upon conclusion of the reimbursable price-fixing procedure by the responsible authority...The IMODI project, which brings together big pharma firms including Paris-based Sanofi SA and Ipsen SA, along with

ThromboGenics NV is banking a €45 million (US$58.8 million) milestone payment from its partner, Alcon, a unit of Novartis AG, following formal European Union (EU) approval for Jetrea (ocriplasmin) for treating patients with vitreomacular traction (VMT), including those with a macular hole up to 400 microns in diameter...The news was hardly unexpected, as the product was nodded through by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) in January...Those and other

ThromboGenics NV is banking a €45 million (US$58.8 million) milestone payment from its partner, Alcon, a unit of Novartis AG, following formal European Union (EU) approval for Jetrea (ocriplasmin) for treating patients with vitreomacular traction (VMT), including those with a macular hole up to 400 microns in diameter...The news was hardly unexpected, as the product was nodded through by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) in January...Those and other

Clinigen Group plc, of Burton-on-Trent, UK, and Theravance Inc., of South San Francisco, entered an exclusive commercialization agreement in the European Union and certain other countries located in Europe for Vibativ (telavancin) in nosocomial pneumonia, including ventilator-associated pneumonia, known or suspected to be caused by methicillin-resistant Staphylococcus aureus, when other alternatives are not suitable...In other news, Elan said its Tysabri (natalizumab) restructuring transaction is

Clinigen Group plc, of Burton-on-Trent, UK, and Theravance Inc., of South San Francisco, entered an exclusive commercialization agreement in the European Union and certain other countries located in Europe for Vibativ (telavancin) in nosocomial pneumonia, including ventilator-associated pneumonia, known or suspected to be caused by methicillin-resistant Staphylococcus aureus, when other alternatives are not suitable...Cubist Pharmaceuticals Inc., of Lexington, Mass., and Astellas Pharma Inc., of

The companies will expand their existing collaboration to include joint promotion of Abilify in Denmark, Finland, Germany, Italy, Spain, Sweden and the U.K. Lundbeck will promote Abilify in Austria, Belgium, Ireland, Netherlands, Poland, Portugal and Romania...Under the agreement, Lundbeck will have the right to promote all formulations of Abilify currently marketed, sold or distributed by Otsuka in the European Union

Antisense Pharma GmbH, of Regensburg, Germany, revised its business objectives related to the advancement of its next-generation TGF-beta inhibitor oligonucleotide program...BioAlliance Pharma SA, of Paris, said it inked a collaboration with an undisclosed vaccine company to develop a vaccine application of its Lauriad mucoadhesive technology...In other news, Biotie and partner H. Lundbeck A/S, of Copenhagen, Denmark, said they received marketing authorization from the European Commission for Selincro

BioAlliance Pharma SA, of Paris, said it inked a collaboration with an undisclosed vaccine company to develop a vaccine application of its Lauriad mucoadhesive technology...The marketing authorization applies to all 27 European Union member states