Shares in Adocia SA (PARIS:ADOC) dropped more than 30 percent Friday, falling €12.67 (US$13.55) to close at €27.60 (US$29.51), on news that Eli Lilly and Co. was once again exiting an alliance in type 1 and type 2 diabetes.
DUBLIN – Lysogene SA is the first European biotech to dip its toes in the IPO waters in 2017, with plans to raise up to €39.7 million (US$42.7 million) on the Euronext exchange in Paris. The Neuilly-sur-Seine, France-based gene therapy firm issued an indicative price range of €6.80 to €9.20 per share Wednesday and plans to price the offer on Feb. 7.
DUBLIN – Domain Therapeutics SA could receive up to €240 million (US$257 million) in an up-front payment, potential milestones and eventual sales royalties from a licensing deal with Merck KgaA on its preclinical program of adenosine receptor modulators in development for immuno-oncology applications.
DUBLIN – Octimet Oncology NV, a spinout from the Janssen Pharmaceutica NV arm of Johnson & Johnson, raised €11.3 million (US$12 million) in a series A round for clinical development of a drug that hits c-Met (cellular mesenchymal-epithelial transition factor), a receptor tyrosine kinase that is one of the most beguiling targets in cancer.
DUBLIN – Forward Pharma A/S is banking a $1.25 billion cash payment from Biogen Inc. in a partial settlement of their intellectual property dispute over the use of dimethyl fumarate (DMF) for treating multiple sclerosis, and it could also be in line to pocket future royalties from sales of Biogen's Tecfidera product.
DUBLIN – Immatics Biotechnologies GmbH is getting $30 million up front and could earn more than $1 billion in development, regulatory and commercial milestones from an immuno-oncology alliance with Amgen Inc. focused on developing two bispecific T-cells engager molecules that target intracellular tumor-associated peptide (Tumap) antigens.
DUBLIN – Ireland is entering the genomics era in earnest, on the back of a 15-year alliance between Genomics Medicine Ireland (GMI) Ltd., Abbvie Inc., and Wuxi Nextcode, under which GMI plans to sequence 45,000 genomes in order to uncover new therapeutic targets and pathways relevant to oncology, neuroscience and immunology.
DUBLIN – European biotech firms engaged in drug development raised an aggregate $3.789 billion in equity funding during 2016, down almost 23 percent on the previous year's total of $4.913 billion.
DUBLIN – Pieris Pharmaceuticals Inc. could earn more than €1.126 billion (US$1.183 billion) from a broadly based co-development alliance in immuno-oncology with Les Laboratoires Servier SAS, which will focus on developing bispecific anticalin-based molecules targeting a range of immune checkpoints and co-stimulatory receptors.
