LONDON - Archimedes Pharma Ltd. completed the biggest fundraising by a private European biotech in 15 years, raising £65 million (US$96.9 million) to set up U.S. operations and begin commercialization of PecFent, a fast-onset nasal formulation of the pain killer fentanyl. (BioWorld International)

A ray of light recently pierced the gloom surrounding Basilea Pharmaceutica AG's program for its cephalosporin antibiotic ceftobiprole (Zevtera), which is in development for complicated skin and soft tissue infections. (BioWorld International)