Intercell AG, the Austrian vaccine developer, is raising €33 million with a three-year convertible note issue which gives its institutional investors considerable leverage possibilities. The company increased the private placement to meet demand.
The Roche Group has ended a licensing deal with Transgene SA relating to a clinical-stage therapeutic vaccine. This is the third case in less than three weeks in which a large pharmaceutical company has apparently precipitously cancelled a deal with a smaller biopharmaceutical company.
Wilex AG, which has advanced-stage products for the diagnosis and treatment of renal cell cancer, reported a net loss of €23.1 million for 2010 on zero sales revenue.
Johnson & Johnson Inc has declared its €24.75 per-share offer for Crucell NV, the Dutch developer of therapeutic and prophylactic vaccines, unconditional. Crucell will now operate as a vaccine centre within J&J. The two companies announced completion of the merger on 22 February 2011.
Fate Therapeutics Inc, the San Diego, California-based stem cell company, has announced the departure of its president and chief executive officer, Paul Grayson. Mr Grayson is leaving to form a new company, according to Fate.
The Committee for Medicinal Products for Human Use has issued positive opinions for three new medicines and restrictions on the use of two. In addition, a new contraindication is being recommended for Merck’s Brinavess (vernakalant).
Scientists based in the UK and Canada have reported identifying a new oncogene that may play a role in up to a third of the more aggressive oestrogen positive breast cancers. It is the first new breast cancer oncogene to be reported in about five years.
Three Dutch organisations are allocating more than €3 million to a project that will develop a method for culturing stem cells for transplants in leukaemia patients. The study will also develop imaging technology to monitor these treatments.
Cytos Biotechnology AG, the Swiss developer of therapeutic vaccines, said that it reduced its cash burn in 2010 but it will need to raise further financing in the future in order to repay outstanding convertible bonds.
The European Medicines Agency has issued new advice on the procedures that companies should follow in developing stem cell products. The advice is contained in a paper on the agency’s website, www.ema.europa.eu. (EMA/CAT/571134/2009).