A public US share offering of Pieris Pharmaceuticals Inc (formerly Pieris AG) has raised a gross amount of $25 million following the sale of 9,090,909 new shares to international investors. The net proceeds are expected to be $22.7 million.
Biogen Inc has thrown its weight behind gene therapy with a decision to invest potentially $1 billion for rights to an early clinical, and a host of pre-clinical and discovery gene therapy assets directed at ophthalmic diseases and one non-ophthalmic condition.
The cell therapy company Kiadis Pharma BV started trading on the Euronext stock exchange in Amsterdam and Brussels on 2 July after an initial public offering that raised €32.7 million. At the opening, the shares traded at €12.50. This compares with an offer price of €11 to €13.75 per share.
Novo Nordisk A/S has become the latest producer of a diabetes medicine to stop supplying the German market following a disagreement over pricing. Novo will cease supplying Tresiba (insulin degludec) in Germany after 30 September 2015.
Abingdon Health Ltd, a UK-based diagnostic company, has obtained £3 million from a syndicate of investors led by Imperial Innovations Group Plc to support the commercialisation of its recently launched device to detect multiple myeloma.
DBV Technologies SA, a French company which is developing a patch for peanut and milk allergies, has announced plans for a second US share offering in less than a year to support development of its technology.
Cosmo Pharmaceuticals SA, a closely held developer of gastrointestinal products, has spun out around half of its subsidiary, Cassiopea SpA, on the SIX Swiss Stock Exchange, but the majority shareholders of Cosmo will remain majority shareholders of Cassiopea.
A public US share offering of Pieris Pharmaceuticals Inc (formerly Pieris AG) has been priced at $2.75 per share for the 9,090,909 shares on offer, giving net proceeds of $22.7 million, a figure that could rise if over-allotments are exercised.
Munich-based Medigene AG has secured €46.4 million in new capital through the placement of shares with existing shareholders and new institutional investors to support clinical development of its dendritic cell (DC) vaccines against cancer and other immunotherapy projects.
A second drug being developed by Roche for Alzheimer’s disease has failed an efficacy test – this time in a Phase 2b trial. The drug, sembragiline (RG1577, EVT302), is an inhibitor of an enzyme that contributes to the production of free radicals, which contribute to the disease’s pathology.