Eli Lilly announced that it has reached an agreement to acquire the privately-held US biotechnology company, Alnara Pharmaceuticals Inc which is developing protein therapeutics for metabolic diseases. Financial terms were not disclosed.
GlaxoSmithKline Plc and Genmab A/S have altered their co-development agreement for ofatumumab (Arzerra) with the result that GSK will develop the antibody for autoimmune indications. The companies will continue their collaboration in cancer.
Celgene Corp is set to expand its oncology franchise with an agreed cash and stock offer for Abraxis BioScience Inc of California which has a marketed treatment for metastatic breast cancer. The deal will establish Celgene in solid tumours.
The European Medicines Agency is proposing a new method for calculating the fees that it charges to industry for its services. The fee structure would be simplified, with fewer fees charged for applications for a marketing authorisation.
Sanofi-Aventis SA is acquiring TargeGen Inc, a privately held US company that specialises in developing small-molecule kinase inhibitors for treatment of haematological malignancies.
SV Life Sciences said that it has raised more than $523 million for its fifth international life sciences fund which will focus on providing start-up, early stage and expansion capital to life science companies in the US and Europe.
Sygnis Pharma AG expects that initial results from its multinational Phase 2 efficacy study of the stroke treatment, AX200, will be available in mid-2011. The German company issued the forecast with the release of its fiscal 2009/2010 results.
MorphoSys AG has agreed to pay $13 million for rights to an anti-CD19 monoclonal antibody that is scheduled to start a Phase 1 study in cancer patients in the US shortly. It is the company’s first in-licensing deal for a clinical compound.
Scientists from Yale University have shown that lung tissue engineered in a laboratory and implanted into rats can restore partial lung function. The findings represent a first step towards the goal of generating fully functional lungs in vitro.
Gilead Sciences Inc has agreed to pay up to $120 million to acquire CGI Pharmaceuticals Inc, a privately-held US company with a library of small molecule kinase inhibitors. CGI’s lead preclinical compound may have application in RA.