News

Bavarian Nordic A/S of Denmark expects to draw down its cash reserves in 2009 in order to prepare for Phase 3 studies of its candidate vaccines for prostate cancer and smallpox.

Reform of the patent system in Europe is once more on the political agenda. On 24 March 2009, the European Commission set in motion a procedure that will give it authority to negotiate the creation of a unified patent litigation system for the European Union.

Evotec AG, which develops small-molecule therapies for central nervous system diseases and inflammation, is undertaking “significant” cost reductions and looking for partners for more of the products it is developing.

Galápagos NV has announced the start of a first-in-man study of a candidate rheumatoid arthritis treatment which targets a protein kinase previously not associated with RA. The target is MAPKAPK5.

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.