MediGene AG of Germany has secured an equity funding agreement with YA Global Investments LP under which it can sell its shares over a three-year period for an amount of up to €25 million. It is the second European biotechnology company to conclude an equity deal with YA Global in less than a month.
Intercytex Group Plc has announced the all-share acquisition of Axordia Ltd, a privately-held UK stem cell company, for £1.68 million. Announced on 22 December 2008, the deal will expand Intercytex’s regenerative medicines’ business into stem cell therapies in addition to its focus on tissue repair.
The European Medicines Agency (EMEA) will acquire new responsibilities for making sure that drugs launched on the European market are safe under legislation initiated by the European Commission.
The international investment group, Abingworth, has raised an additional £84 million to invest in life science companies, bringing the total funds in its life science vehicle, Abingworth Bioventures V LP, up to £392 million.
MorphoSys AG said that it will be offering stockholders three new shares for every one held as part of a previously-authorised stock split. The new shares will trade on the Frankfurt Stock Exchange from 23 December 2008.
Genmab A/S has announced an amendment to its commercialisation deal with GlaxoSmithKline for ofatumumab, effectively ending its right to co-promote the drug in the US and the Nordic area.
Celtic Pharma Holdings Advisors LLP (CPHA) has launched a new fund that will invest in biotech companies with early stage products at a time when many venture capital companies have shifted their attention to companies with late-stage products.
A London-based biopharmaceutical company with an early clinical-stage obesity product has been bought by Wyeth of the US in a deal valued at up to £100 million.
Denmark’s Bavarian Nordic A/S has raised its forecast for revenue in 2008 following higher than expected income from two contracts which it holds with the US National Institutes of Health for the production of a new smallpox vaccine.
OncoMethylome Sciences SA is to raise about €8.4 million with a private equity placement among three institutions, according to an announcement on 16 December 2008.