GPC Biotech to merge with Agennix of the US
GPC Biotech AG has entered into a merger agreement with the privately-held developer of cancer drugs, Agennix Inc of Houston, Texas.
News
Opsona gets venture capital funding
Opsona Therapeutics Ltd, an Irish medical discovery company that targets the innate immune system as a way of treating autoimmune and inflammatory diseases, has raised €18 million in a Series B financing provided by the Novartis Venture Fund, Fountain Healthcare Partners, Inventages Venture Capital and Seroba Kernel Life Sciences.
MSD withdraws application for cancer drug
Merck Sharp & Dohme Ltd, which is the UK subsidiary of Merck & Co, has withdrawn its marketing authorisation application for the cancer treatment, Vorinostat MSD (vorinostat) from the European Medicines Agency.
Antisoma looks to stretch cash until mid-2011
Antisoma Plc expects that milestone payments from Novartis, together with the possible sale or partnering of a recently approved cancer drug, should enable it to fund its drug development programmes until the middle of 2011.
Pronova accelerates plant construction to meet higher Omacor/Lovaza demand
Pronova BioPharma ASA has accelerated construction of its new plant in Kalundborg, Denmark in the face of rising demand for its omega-3 derived prescription drug for hypertriglyceridemia, Omacor/Lo
Gene therapy approved on a named-patient basis in France
France’s medicine regulator, Agence française de sécurité sanitaire des produits de santé (Afssaps), has approved the gene therapy product, Cerepro (sitimagene ceradenovec), for use on a named-patient basis in France.
Pharming looks beyond its lead product
The new chief executive officer of Pharming Group NV has outlined a strategy for the Dutch company that involves building up a broadly based portfolio of products in the fields of biotechnology, biomaterials and bionutritionals. The purpose is to reduce the group’s dependence on any one product. Pharming’s lead product for acute attacks of hereditary angioedema (HAE), Rhucin, encountered regulatory obstacles in 2008.
EMEA approves plans to investigate drugs in children
The European Medicine Agency’s Paediatric Committee has approved plans from 11 companies to investigate their new drugs for use in children.
Epigenomics raises €5.18 million in share placement
The German molecular diagnostics company, Epigenomics AG, has raised €5.18 million in a share placement with two of its existing institutional investors. The proceeds will be used to finish the development and commercialisation of its most advanced product, a blood-based molecular diagnostic test for the early detection of colorectal cancer.
Sanofi streamlines its structure as earnings languish
Sanofi-aventis reported higher sales and earnings in the fourth quarter and full year in 2008 on an adjusted basis. But expressed under International Financial Reporting Standards (IFRS), sales and earnings in 2008 showed a decline.