BioInvent International AB plans to raise SEK 75 million (€8 million) in a rights issue to investors to further develop its anti-cancer antibodies. Shareholders of record on 24 April will receive rights to purchase four new shares for every nine held.
Perrigo Company plc, the Ireland-based pharmaceutical conglomerate, has rejected a takeover bid from the global generics manufacturer Mylan NV (formerly Mylan Inc) while Mylan itself has spurned a takeover approach from Israel-based Teva Pharmaceuticals Industry Ltd.
AstraZeneca Plc has announced two new deals in immuno-oncology that will exploit the potential of its checkpoint inhibitor MED14736 in both haematological and solid tumour cancers. The monoclonal antibody is currently in Phase 3 development for non-small cell lung cancer and head and neck cancer.
The strong dollar had a negative impact on Novartis’ financial results for the first quarter offsetting strong volume growth and productivity gains. Net sales were $11.9 billion, down by 7% from a year earlier and the operating profit was $2.8 billion, down by 1%. The company reported a net income of $2.3 billion for the period, down by 6%.
The Roche Group has issued its first quarter report showing that global sales rose by 3% to CHF 11.8 billion (€11.3 billion) from a year earlier. However, the underlying performance was affected by a 6.8% rise of the dollar against the Swiss franc and a 12.1% decline of the euro against the franc.
Actelion AG, a specialist Swiss pharmaceutical company with a franchise in pulmonary arterial hypertension (PAH), reported a 10% gain in revenue for the first 2015 quarter to CHF 515 million (€502 million) and a 24% rise in operating profits to CHF 190 million.
Thrombogenics NV has teamed up with the Flanders Institute for Biotechnology (VIB) to create a new oncology company, Oncurious NV, which will re-start development of an antibody that was once licensed to Roche. Called TB-403, the antibody targets placental growth factor.
Small and medium-sized enterprises (SMEs) play a special role in drug development particularly in the field of advanced therapy medicinal products (ATMPs). With small numbers of staff, many of whom are scientists, they are in a unique position to drive medical innovation.
An initial public offering for Biocartis Group NV is under way on Euronext Brussels stock exchange in a book-building process that will determine the offering price. The Belgian company’s main product is a portable machine for the molecular diagnosis of cancer and other diseases.
Autifony Therapeutics Ltd has received funding to progress a second compound into clinical development that targets voltage-gated potassium channels in the brain. The indication is schizophrenia. It is already investigating a compound against the same target for hearing loss and tinnitus.