Shares in Basilea Pharmaceutica AG dropped by more than 36 percent Tuesday on news that European Union (EU) approval of Zevtera (ceftobiprole), expected during the current quarter, would be delayed until at least the year end. (BioWorld International)

No Abstract BioWorld International CorrespondentDUBLIN, Ireland - Opsona Therapeutics Ltd. raised €18 million (US$23 million) in a Series B round and unveiled a research and collaboration agreement with CSL Ltd., based on the identification of novel vaccine adjuvant formulations using its proprietary OpsoVac immunotherapy platform.

NeuroSearch A/S shrugged off disappointment in the clinic last week - namely, the failure of ABT-894 in a Phase II trial in diabetic neuropathic pain - with a three-year central nervous system drug discovery alliance with Eli Lilly and Co. that has the potential to grow to blockbuster proportions.

Novelos Therapeutics Inc. has signed a $95 million deal with Mundipharma International Corp. Ltd. to market a cancer drug in Europe and Japan, with $10 million of that paid up front by Purdue Pharma LP, an independent company associated with the UK firm. (BioWorld International)