Belgium’s Galapagos NV has acquired assets in the field of drug discovery from Sareum Holdings Plc which will enable it to quickly identify promising new small molecule drugs. The acquisition, for £553,000, will give Galapagos all of Sareum’s contracts relating to structure-based drug discovery.
Diamyd Medical AB, a Swedish specialist in autoimmune diabetes, said that a gene it is investigating to treat Type 1 diabetes may also be used for advanced Parkinson’s disease and possibly other neurological conditions.
Pharmexa A/S, the Danish therapeutic vaccine developer, said it expects to conclude discussions about a possible merger by the end of 2008. This follows months of restructuring, including paring back clinical development programmes, in order to conserve cash.
Geneart AG, which specialises in synthetic biology, has reported a 43% increase in net sales in the 2008 first half on the back of strong demand for synthetic genes from the research community and biotech companies.
The ProStrakan Group Plc, the Scottish speciality pharmaceutical company, reported a 26% rise in turnover for the six-months ended 30 June 2008 to £26.4 million from £20.9 million a year earlier but its loss widened, partly as the result of an impairment charge.
Ablynx NV of Belgium said that its 20-month-old research agreement with Boehringer Ingelheim (BI) to develop therapies against Alzheimer’s disease has been extended for another year.
SpePharm Holding BV, the umbrella organisation for a Paris-based company that sells specialised drugs to hospitals in Europe, has raised €26 million with a combination of equity financing and the sale of future revenues from a spasticity drug whose European rights it recently acquired.
The District Court of Rome in Italy has denied a request from Pronova BioPharma to enjoin an Italian company from allegedly infringing its Italian patent for the active pharmaceutical ingredient (API) in its lead product, Omacor/Lovaza. But Pronova said the ruling will not have any impact on its business. This is because of the strong, global sales of its product.
Evotec AG said partnering discussions are ongoing for its lead product, EVT 201, for the treatment of insomnia. Although market conditions are challenging, there is evidence of continued interest in this indication, said Jörn Aldag, the company’s president and chief executive officer, in a report on the 2008 first half. This interest is illustrated by GlaxoSmithKline’s decision in July to pay £66 million up-front to Actelion AG of Switzerland to co-develop an insomnia treatment.
Sales of paediatric vaccines, in particular Quinvaxem, added to revenue growth at the Dutch biophamarceutical company, Crucell NV, in the 2008 second quarter. Together with increased licensing income and higher sales of travel vaccines, revenue and other operating income rose by 51% to €59.6 million from €39.4 million a year earlier. Based on these results, Crucell said it expects revenue and operating income to increase by 20% for the year as a whole.