Novartis has acquired rights to a new broad-spectrum antibiotic currently in Phase 2 development in connection with its takeover of the product’s owner, Protez Pharmaceuticals of Malvern, Pennsylvania.
The German biotechnology company, MediGene AG, has reassessed its business strategy and decided to concentrate its resources on developing drugs in the fields of oncology and immunology. It plans to partner or divest its dermatology products.
The European Medicines Agency (EMEA) is recommending that marketing authorisations be granted for new treatments for neuromuscular block and nosocomial pneumonia. It also recommended that extensions of indications for three marketed cancer drugs be approved.
Experts in the field of regenerative medicine recently met in London amid a mood of optimism.
The Munich-based drug development company, 4SC AG, has acquired a takeover option as well as a small stake in Nexigen GmbH, a spin-out company of the Bonn-based Center of Advanced European Studies and Research.
Alnylam Pharmaceuticals, Inc of Cambridge, Massachusetts has concluded a new technology transfer and research alliance in the field of RNA interference (RNAi) therapeutics, confirming the importance of this technology for future drug development.
Two drug applications that were under review by the European Medicine Agency’s main scientific committee have been withdrawn by their sponsors following the committee’s request for more data.
Edmond de Rothschild Investment Partners has raised €150 million for its BioDiscovery 3 Fund in just three months, suggesting that investor demand for life-science companies is far from dormant.
BTG Plc reported its third consecutive year of profits for the year ended 31 March 2008, and forecast continued earnings growth during the current year. The UK life science company expects to see an increase in royalties from marketed products, while at the same time advancing its own products through development. On 31 March, the company had cash and cash equivalents of £57 million compared with £43 million a year earlier.
Researchers from Cancer Research UK have identified a new protein target that could be used to produce vaccine therapies for cancer. Their findings are reported in the 22 May 2008 issue of The Journal of Clinical Investigation.