Gene therapy pioneer Uniqure NV is moving into the field of complex disease, by purchasing Inocard GmbH, an early stage German start-up focused on congestive heart failure (CHF), in a cash-and-shares deal valued at €3 million (US$4.01 million) up front. The transaction also includes undisclosed milestone payments and downstream royalties.
Shares in Galapagos NV were down 9 percent Friday on news that Glaxosmithkline plc terminated development of its selective Janus kinase 1 (JAK1) inhibitor GSK2586184 in several chronic inflammatory conditions after a statin-associated drug-drug interaction became apparent in a phase I study.
HONG KONG – Shenyang, China-based 3SBio Inc. has entered an exclusive licensing agreement with Korean biotech Dinona Inc. for 3SBio to develop, manufacture and market leukotuximab in Greater China to offer better treatment to Chinese leukemia patients and reinforce its blood-related disorders pipeline.
Auris Medical Holding AG netted $51 million in a bargain basement initial public offering (IPO), comprising 9.4 million shares priced at $6 per share. Gross proceeds were $56.4 million, whereas the Zug, Switzerland-based firm originally planned to raise as much as $82.8 million, by offering 6.9 million shares, priced at $10 to $12 per share.
Diurnal Ltd. is raising up to £6 million (US$10.1 million) to complete phase III development of Chronocort, a modified-release formulation of hydrocortisone, for treating congenital adrenal hyperplasia (CAH).
Shares in Almirall SA rose 9 percent Wednesday on news that Astrazeneca plc is paying $875 million up front to acquire its respiratory disease portfolio of partnered and pipeline assets. A further $1.22 billion in development, launch and performance-based milestones are attached to the deal.
Zealand Pharma A/S could earn up to €295 million (US$396 million) in milestone payments arising from a second drug development deal in diabetes with Boehringer Ingelheim GmbH. It will bank €5.6 million during 2014.
The European Society for Medical Oncology (ESMO), a pan-European body representing European oncologists, has warned that retrospective clinical cancer research could be outlawed in Europe if the European Parliament's legislative proposals on data protection are not overturned.
German start-up Amcure GmbH raised €5 million (US$6.7 million) in a series A round to take forward a preclinical drug development program in cancer based on targeting a variant of the CD44 receptor, called CD44v6, which is implicated in both angiogenesis and metastasis.
DUBLIN, Ireland – Abbvie Inc. got the job done right on the July 18 deadline, agreeing a £32 billion (US$54.6 billion) cash-and-shares takeover of Dublin-based Shire plc, comprising £24.44 per share in cash plus 0.8960 of new Abbvie shares for each existing share in Shire.
