DUBLIN, Ireland – Trino Therapeutics Ltd., a spinout from Trinity College Dublin (TCD), raised €9 million (US$11.6 million) in a Series A round to move PH46A, an oral, first-in-class indane dimer, into clinical trials in ulcerative colitis. The round was led by Dublin-based Fountain Healthcare Partners and the Wellcome Trust, a founding investor, which is funding the company through an equity-based Strategic Translation Award. Trino was founded in 2011 by two TCD scientists – pharmacologist

LONDON – A molecule that is released by breast cancer cells and yet stops the cells from growing appears to have its effect by stimulating an inflammatory immune response. The molecule, called matrix metalloproteinase 8, or MMP8, is one of a family of MMPs that had been a target for cancer drugs in the 1990s. Those drugs, known as MMP inhibitors, aimed to prevent tumor growth and metastasis. However, they failed to deliver convincing results in clinical trials and the pharmaceutical industry

Embryonic stem cells have been the subject of so many political fights that it's easy to forget they have also faced formidable scientific obstacles. But they have. Human eggs, it turns out, are far more fragile than those of most other mammals – including those of other primates. And so, methods that have been used to clone mammals from Dolly the sheep to Snuppy, the cloned dog that was South Korean stem cell scientist Woo-Suk Hwang's only non-fraudulent claim to fame, have failed to produce

The growth equity arm of Novo A/S has clocked up its first major pharmaceutical investment, a $700 million buyout of generic antibiotics developer and manufacturer Xellia Pharmaceuticals AS, under a new investment strategy it formulated more than a year ago. The deal exemplifies Hellerup, Denmark-based Novo's intentions to build large-scale, long-term positions in mature, low-risk companies. That represents a shift from its original strategy, involving earlier-stage companies approaching

LONDON – Merck Serono is enlarging its venture fund from €40 million to €100 million (US$51 million to $128 million) – increasing its capacity to invest in early stage companies, technologies and products that can be shaped up for the company's internal pipeline. "We started four years ago with €40 million, and that was always on the understanding it was not enough for a sustainable long-term fund," said Roel Bulthuis, head of the MS Ventures fund. "What the organization has seen is that the

Baliopharm GmbH, a subsidiary of Baliopharm AG, of Basel, Switzerland, joined the NEU2 Consortium with a project addressing the recombinant manufacturing of an Fc-free bispecific CD20-CD95 antibody construct (Novotarg) with selectivity for activated B cells and efficacy studies in disease models relevant to multiple sclerosis therapy. The two-year project was funded by the German Federal Ministry of Education and Research. Bayer AG, of Leverkusen, Germany, signed an agreement to acquire the

DUBLIN, Ireland – Elan Corp. plc continues to execute its M&A strategy at a dizzying pace, while its would-be acquirer, Royalty Pharma, has tabled a revised offer for the company, worth $12.50 per share or $6.37 billion. On Monday, Elan unveiled an acquisition agreement with AOP Pharmaceuticals AG worth €263.5 million (US$339.3 million) in cash (€175.7 million) and shares (€87.8 million) initially – plus another potential €270 million in milestones – and a deal to acquire a 48 percent stake in

LONDON – Peptides that can boost the immune response to bacteria could lead to a novel therapy for sepsis – and may also make it possible to develop a new generation of vaccines. Mice given the peptides were able to eliminate bacteria faster in a murine model of bacterial peritonitis. In addition, when the peptides were added to blood taken from patients with sepsis-induced immunosuppression, the treatment was able to rescue the blood cells' ability to mount an inflammatory response. The

LONDON – As pharma's quest for pipeline-boosting innovation pushes further into academia, GlaxoSmithKline plc (GSK) has launched Discovery Fast Track to accelerate the translation of target biology into drug candidates. The company is organizing a competition in which academics submit a one-page application outlining a novel drug development concept. Ten winners will get access to GSK facilities to scale up biological reagents and develop assays to underpin high-throughput screening against the

Ablynx NV, of Ghent, Belgium, initiated preclinical development of next-generation anti-IgE Nanobody ALX-0962 in severe allergic asthma. ALX-0962 consists of a potent anti-IgE Nanobody with a dual mode of action – the ability to bind with high affinity to IgE while also displacing receptor-bound IgE – together with a serum albumin binding Nanobody for in vivo plasma half-life extension. BioAlliance Pharma SA, of Paris, reported the International Independent Board of Experts' data and safety

LONDON – Shares in Erytech Pharma SA began trading in Paris last week following an initial public offering (IPO) that exceeded the €15 million (US$19.5 million) target, raising €16.7 million. The Lyon, France-based company added a further €11 million, mostly through the conversion of bonds, providing sufficient funding to take the lead program Graspa through to approval in Europe and to start a U.S. Phase Ib trial of the product in the treatment of acute lymphoblastic leukemia (ALL). "I'm very

LONDON – Creabilis SA reported positive Phase IIb results for its topical TrkA kinase inhibitor CT327 in the relief of chronic pruritus (itch) caused by psoriasis, paving the way for a Phase III study designed to gain approval for treating itch in any dermatological disease. "We are delighted by the outcome," said Eliot Forster, CEO. "In addition to some benefits in terms of the underlying disease, CT327 showed a highly significant impact on itch, which in psoriasis and other dermatological

LONDON – There may be a completely new way to block the estrogen receptor on breast cancer cells, which normally thrive on estrogen. Researchers working in the Netherlands have shown that blocking the receptor at that point reduces the growth rate of breast tumor cells. What is more, they have already found a small molecule that blocks the receptor, and they have crystallized the binding pocket, which should make it possible to design or find other small molecules that can be used as drugs to

Cardio3 BioSciences (C3BS) closed a €19 million (US$25 million) investment round to fund an ongoing European Phase III trial of its stem cell therapy for ischemic heart failure, C-Cure. Just €7 million of the total represents new money, however. The remainder comprises an equity conversion of existing loans. The new cash comes from the company's existing investors. C3BS, of Mont-Saint-Guibert, Belgium, is developing a therapy that originated at the Mayo Clinic in Rochester, Minn. C-Cure

Cosmo Pharmaceuticals SpA landed a hefty chunk of upside, that all-too-elusive commodity, by grossing $89.2 million from a sale of Santarus Inc. stock. The transaction will enable the already-profitable company to begin paying dividends to its shareholders. The Lainate, Italy-based drug delivery specialist disposed of 4.25 million shares, priced at $18.25 per share, Friday. On Monday, Jefferies LLC, which underwrote the offering, exercised its option to purchase an additional 637,500 Santarus

DUBLIN, Ireland – Elan Corp. plc is putting down a $1 billion bet that the respiratory franchise shared by Theravance Inc. and GlaxoSmithKline plc will pay generous dividends over the next decade. Elan is acquiring a 21 percent stake in Theravance's future royalty streams from four drugs that are partnered with London-based GSK. One of them, Breo (fluticasone furoate [FF] and vilanterol inhalation powder), which is administered using the Ellipta inhaler, has just gained FDA approval as a daily

Osaka, Japan-based Takeda Pharmaceutical Co. Ltd. is gaining access to several key vaccine candidates targeted against major infectious diseases in the developing world such as dengue and hand, foot and mouth disease (HFMD), through its acquisition of Inviragen Inc., of Fort Collins, Colo. Takeda will pay $35 million up front and up to $215 million contingent on various clinical and commercial milestones. The transaction will be conducted through Takeda's wholly owned subsidiary Takeda America

: LONDON – Galapagos NV has raised €53.9 million (US$70.7 million) in an oversubscribed placing in which it has tapped into the strong appetite U.S. investors currently have for biotechnology. This is Galapagos' fourth private placing since it went public in May 2005. "It definitely was easier than previous rounds: there was a minimal discount and we have attracted premier investment groups, in particular in the U.S.," said Onno von de Stolpe, CEO. "It's been a fantastic success," he told

LONDON – Symphogen A/S has taken in a further €41 million (US$54.1 million) as an extension to an earlier €100 million round agreed in 2011, bringing the total raised to $185 million. "For a private biotech, it's a pleasure to have more than €100 million," said Kirsten Drejer, CEO. The extra funding will be used "to extend the runway, not to add more programs," she told BioWorld International. The spur for raising more money was the validation of Symphogen's antibody mixtures technology in a