LONDON – BioVex Group Inc. is to be acquired by Amgen Inc. in a cash sale that values the University College London spinout at up to $1 billion. There will be $425 million up front for the investors of the privately held cancer vaccines specialist, with $575 million in additional payments against regulatory and sales milestones.

LONDON – The $131 million raised by Symphogen A/S earlier this month – the the largest private financing ever for a European biotech – will be a boost for the sector in Denmark, but it does not mean the funding climate in Europe is improving.