News

GPC Biotech AG said it will be looking for partnering opportunities for its rejuvenated oncology portfolio once it completes a proposed merger with Agennix of the US.

SkyePharma Plc, which develops technologies for delivering drugs, essentially broke even in 2008 before exceptional items and expects to be well off in the future provided its pending US application for an asthma drug is approved, the UK company’s directors said in their annual report and during a meeting with analysts on 26 March 2009.

The Roche Group has completed the acquisition of its US biotechnology affiliate, Genentech Inc, while promising to maintain the company’s innovative culture.

A spin-out from University College London (UCL) has obtained finance from GlaxoSmithKline to develop what may be the first product ever to combine a small molecule drug with an antibody in order to treat disease.

The Italian specialty pharmaceutical company, Cosmo Pharmaceuticals SpA, expects to be profitable again in 2009 on increased sales of its lead product for the treatment of ulcerative colitis, Lialda/Mezavant (mesalazine). 

Shares of Alizyme Plc fell 28% in early trading on London’s Alternative Investment Market on 23 March 2009 following the company’s announcement that its net loss narrowed to £10.1 million in 2008 from £31.2 million in 2007 but its holdings of cash contracted.

Merck Serono has announced two separate funding initiatives that will support biotechnology companies conducting research in one or more of its core therapeutic areas. The first is a new venture capital fund, and the second, a deal with a unit of the American National Multiple Sclerosis Society.

The European Medicines Agency has given positive opinions to four new medicines, but it has turned back applications for two, one of which was a proposed treatment for cystic fibrosis.

French researchers have started screening for compounds and RNA interference molecules that could eventually treat myotonic dystrophy, a chronic, slowly progressing disease characterised by wasting of the muscles.

Karolinska Development AB has agreed to take control of a preclinical leukaemia project from Biovitrum AB of Stockholm. The project aims to develop new compounds for leukaemia by inhibiting the activity of the tyrosine kinase receptor, FLT3.