In what could well be Europe's largest venture capital investment in biotechnology this year, Probiodrug AG took in more than €36 million (US$53.4 million) in a Series B round to fund a new class of Alzheimer's disease drugs, based on inhibiting glutaminyl cyclase (QC). The company also will allocate part of the proceeds to developing compounds acting on the same target for treating inflammatory indications. (BioWorld International) Read More
No Abstract Assistant Managing EditorWith buzz growing about Micromet Inc.'s BiTE antibody blinatumomab (MT103) ahead of the upcoming American Society of Hematology meeting, the Bethesda, Md.-based firm scored an early stage deal with Sanofi-Aventis SA to develop another BiTE compound. Read More
No Abstract BioWorld International CorrespondentCevec Pharmaceuticals GmbH raised €4 million (US$5.9 million) in new funding to support the commercialization of its proprietary protein expression platform CAP, which the company is positioning as a high-yield technology for the production of complex proteins. Read More
