Swedish Orphan Biovitrum AB shares (STO:SOBI) fell 25% Dec. 3 as investors behind Agnafit Bidco AB, previously poised to pay about SEK72.17 billion (US$7.97 billion) for the company, withdrew their bid as shares tendered fell just short of the 90% needed to complete the deal. The bid was seen as likely to succeed after Investor AB, which owns 35% of the capital and votes in the company, commonly called Sobi, supported it. However, with only 87.3% of outstanding shares tendered as of Dec. 3, Agnafit decided to drop the offer, foregoing further extension of the acceptance period, which was earlier extended by ten days to Nov. 26 in hopes of collecting enough support. Read More
LONDON – The latest epidemiological data from South Africa show it has entered a fourth wave of the COVID-19 pandemic, fueled by the Omicron variant of concern that was first detected in the country in late November. “We have moved from a total of 2,465 new cases last Thursday, when this variant was announced, to yesterday’s high of 11,535 [PCR confirmed infections],” said health minister Joseph Phaahla, in a briefing on Dec. 3. Read More
CEO Michael Raab said that would-be partners for Ardelyx Inc.’s Ibsrela (tenapanor), cleared in September 2019 to treat irritable bowel syndrome with constipation, “don't understand and don't approach the market in the manner that we will,” which is why the company has chosen to launch the sodium/hydrogen exchanger 3 inhibitor on its own in 2022. Read More
Longeveron Inc.’s share price (NASDAQ:LGVN) jumped 11.7% on Dec. 3 after the FDA awarded orphan designation to Lomecel-B, allogeneic bone marrow-derived mesenchymal stem cells, for treating hypoplastic left heart syndrome. The designation came two weeks after the FDA granted rare pediatric disease designation for Lomecel-B to treat the life-threatening congenital heart defect in infants. Read More
The rise of large national health care systems, mainly in Europe, has created an ongoing tension with the free market ethos of the pharma industry. After years of painstaking and costly research, drug makers want that moment when they can reap the rewards for their hard work bringing an innovative new therapy to the market. But in countries in Europe and beyond where there are national health care systems with stringent cost constraints, it’s not feasible to meet these price demands, at least without some form of rationing to keep down expenditure. Read More
In the December 3, 2021, issue of Science, researchers reported that a missense variant that is highly enriched in the Amish population was associated with reduced levels of both LDL cholesterol and fibrinogen. To date, very few variants have been identified that affect more than one risk factor for cardiovascular disease. Read More
Usama Malik, Immunomedics Inc.’s former chief financial officer, and his former partner, Lauren Wood, face SEC charges related to insider trading in Immunomedics’ stock. Read More
New hires and promotions in the biopharma industry, including: Acepodia, Chemomab, Coda, Code, Compass, Fore, Lyell, Praxis, Regulus, Scipher, Venatorx. Read More
Biopharmas raising money in public or private financings, including: Bone, Celyad Oncology, Clarus, Esperion, Link Health, Petros, Psyence, Scynexis. Read More
Clinical updates, including trial initiations, enrollment status and data readouts and publications: 180 Life Sciences, Acasti, Amgen, Arbutus, Arca, Bonus, Hepagene, Humanigen, India Globalization, Immutep, Karyopharm, Redhill, Revelation, Spago, VBI, Ysopia. Read More
Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Aclaris, Aquilion, Enochian, Geovax, Immunomedics, Janssen, J&J, Leo, Neurona, Protagonist. Read More
Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Abivax, Adrenomed, Amgen, Chemomab, Chiesi, CNS, Dyne, Helsinn, Italfarmaco, Interna, J&J, Medexus, Mingmed, Tot, Tryp. Read More
