UK-based GW Pharmaceuticals plc set the terms for its proposed U.S. initial public offering (IPO), which would provide a listing on Nasdaq and nearly double its cash position ahead of the anticipated launch of lead cannabinoid product Sativex in the U.S. The firm, in its F-1 filing as an emerging growth company, said it plans to offer about 3.5 million American depositary shares (ADS) – each representing about 12 ordinary shares – priced according to GW's shares as listed on the London AIM

LONDON – A new study has connected known differences in the metabolism typical of cancer cells to the pathway leading to apoptosis, or cell death. Researchers working in Finland have, for the first time, linked metabolic changes in cancer cells to the mechanism that, in normal cells, prevents abnormal cellular proliferation. The discovery is likely to encourage drug developers to consider whether existing drugs that modify cellular metabolism could be used in the future to treat cancer. Juha

LONDON – Immune Targeting Systems Ltd. (ITS) presented positive data on its universal influenza vaccine, Flunisyn, showing that it induced T-cell responses in 95 percent of subjects in an elderly population, ages 65 to 74, in a Phase IIa trial. The results pave the way for a challenge study of the vaccine, which is designed to be effective against all strains of influenza A. That would, for example, include influenza A (H7N9), the avian influenza virus that is the source of the current outbreak

In one of Switzerland's – and Europe's – largest biotech private equity deals for some time, Auris Medical AG landed CHF47.1 million (US$50.8 million) in a Series C funding from the two Sofinnovas, Sofinnova Ventures and Sofinnova Partners, to take forward its two lead drug candidates, AM-101 and AM-111, in acute tinnitus and acute inner ear hearing loss, respectively. The Basel, Switzerland-based firm plans to start recruiting 600 patients with acute peripheral tinnitus into two placebo

DUBLIN, Ireland – Royalty Pharma upped the ante in its efforts to land Elan Corp. plc by raising its bid to $12 per share, an offer that values the Dublin, Ireland-based biotech at around $7.3 billion. It had originally signaled its interest in Elan with an indicative offer of $11 per share, or about $6.5 billion in total. The increased offer was hardly a surprise, particularly as Elan has traded up to around that level since Royalty Pharma's initial expression of interest. (See BioWorld Today

Santaris Pharma A/S is getting $10 million up front and could earn up to $90 million more in per-product milestones from a multiproduct drug discovery alliance with Bristol-Myers Squibb Co., based on its Locked Nucleic Acid (LNA) antisense technology. It also will receive research funding and royalties on eventual product sales. New York-based BMS will hold worldwide rights to whatever products emerge from the alliance. The targets involved were not disclosed; nor was the therapeutic focus of

Atox Bio Ltd., of Ness Ziona, Israel, said data from an animal model of necrotizing soft-tissue infection, also known as flesh-eating bacteria, demonstrated that the administration of a single dose of AB103, given several hours after infection even without antibiotics, increased survival in animals and reduced tissue necrosis, inflammation and bacterial burden at the site of infection without compromising the immune response. AB103, a rationally designed short peptide designed to modulate the

Lipid Therapeutics GmbH aims to extend its pivotal program for its ulcerative colitis treatment LT-02 into the U.S., following an investigational new drug grant from the FDA that will enable it and its partner, Dr. Falk Pharma GmbH, to conduct a joint Phase III program on either side of the Atlantic. The plan depends on the company finding a U.S. partner, however. "We are in in-depth discussions right now with a handful of candidates," Gerhard Keilhauer, CEO of Heidelberg, Germany-based Lipid

LONDON – Photocure ASA claimed it has taken photodynamic therapy (PDT) "to a completely new level," as it published positive data from the final analysis of the 262-patient Phase IIb trial of Cervira in treating oncogenic human papillomavirus (HPV) infections and pre-cancerous lesions of the cervix. The product is now ready to enter Phase III, and the company is in talks with potential partners. "We want a strong partner with a strategic focus on women's health care before undertaking further

LONDON – Gene therapy start-up GenSight Biologics has raised €32 million (US$41 .6 million) in a Series A funding, hinting that following on from the first European regulatory approval of a gene therapy and with an increasing volume of positive clinical data, this iconic field is now de-risked in the eyes of venture capital investors. The money will fund the ophthalmology specialist until 2016, enabling it to advance two products into Phase II for the treatment of Leber's hereditary optic

SHANGHAI – As the S&P 500, the Dow Jones Industrial Average and the Nasdaq Biotechnology Index close at record highs, one might think that respectable Chinese biopharmas on the New York Stock Exchange or Nasdaq would be well positioned to enjoy the benefits of such a robust stock market. In fact, many are cutting their ties. In the middle of this record-setting market behavior: 3SBio Inc., of Shenyang, China, announced that it will hold an extraordinary general meeting of shareholders on April

S-TARget therapeutics GmbH, an Austrian start-up developing therapeutic vaccines for allergies, aims to close a €6 million (US$7.8 million) Series A funding round in the coming months. The company has just started a second preclinical study in nonhuman primates of its lead product, SG100, which is in development for treating house dust mite-induced asthma. A readout is expected in late July, by which time the Vienna-based firm also hopes to have completed due diligence with investors

LONDON – Scientists are close to identifying new genes that may be linked to several eye diseases in humans, many of which cause blindness. The researchers are being guided by genes they have found in mice that, when absent, cause similar defects to those occurring in the eyes of humans who are affected by conditions such as one type of age-related macular degeneration (AMD). The genes that, in their absence, lead to the development of various visual defects in mice are known to play a key role

LONDON – Cancer specialist Activartis Biotech GmbH will present positive survival data from the Phase II trial of its dendritic cell therapy in treating glioblastoma at the American Association of Cancer Research (AACR) Wednesday, as it steps up efforts to find a partner to back a Phase III study. The first interim analysis of the open-label, 100-patient trial indicated that when the final numbers are in there will be an overall survival benefit in patients treated with AV0113, which consists

Aspireo Pharmaceuticals Ltd., of Tel Aviv, Israel, reported results of a Phase II study in acromegaly patients showing that Somatoprim, its somatostatin analogue, demonstrated a dose-dependent effect on lowering excess growth hormone in treatment-naïve patients. No serious adverse events were reported, and the reported adverse events were mild to moderate and transient in nature. The trial was designed to test single-ascending doses of Somatoprim in up to 20 patients. Axelar AB, of Stockholm

MedDay raised €8 million (US$10.5 million) to take forward three drug development programs, two of which already have yielded promising data in small-scale human trials, in progressive forms of multiple sclerosis (MS) and in treatment-resistant forms of psychotic illness. The company was formed in 2011 but has been operating in stealth mode until now. It initially was formed to commercialize 10 years of research into inherited rare neurological diseases by company co-founder Frédéric Sedel, a

LONDON – A fault in glucose metabolism lies at the heart of polycystic kidney disease, a common inherited condition that can cause end-stage renal failure by the age of 50, new research has shown. The discovery suggested that it may be possible to treat the disease with existing drugs that interfere with glucose metabolism, slowing the development of the cysts in the kidneys and conserving the function of normal kidney tissue. Alessandra Boletta, associate scientist at the Dulbecco Telethon

Themis Bioscience GmbH is planning to begin clinical trials of viral vaccine candidates to protect against dengue virus and chikungunya virus infections before year-end, following successful preclinical proof of concept studies. The data indicated a single shot was sufficient for protection in the case of chikungunya virus, while the dengue vaccine elicited an immune response against all four serotypes of the virus. The Vienna, Austria-based company is developing recombinant live attenuated

LONDON – Following the FDA approvals of the first two antibody-drug conjugates (ADCs), the market is moving forward to develop enhanced products based on linker technologies that will make that new class of biopharmaceutical/small-molecule hybrids safer, more effective and easier to manufacture. Enter Synthon Biopharmaceuticals, which is poised to discuss details of its lead ADC product at the American Association for Cancer Research (AACR) meeting in Washington, April 9, highlighting increased