News

Geneart receives European protein patent

Geneart AG has been granted a European patent describing a method for carrying out the selective identification of proteins in vitro. The patent, EP 1913140, underpins the company’s proprietary technology platform relating to the generation and screening of proteins. According to the company, these proteins could become the basis for new therapeutics, vaccines and industrial enzymes. Geneart said its procedure makes it possible to identify optimal variants of a protein from a considerably larger pool more quickly than with conventional methods. This increases the probability of identifying an ideal protein variant such as a strong-binding antibody for a cancer therapy. The European Patent Office granted the patent on 24 December 2008.

BioMedPartners, a Basel-based venture capital firm, has launched a new fund to invest in private, early to mid-stage medical companies called BioMedInvest II LP.

ReNeuron Group Plc has received approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) to conduct a first-in-man trial of a stem cell therapy to treat stroke.

Cardio3 BioSciences SA, a privately-owned Belgian company, has raised €13.7 million to finance the clinical development of its second-generation cell therapy for the treatment of heart failure, C-Cure.

Oxford BioMedica Plc said that a patent infringement suit brought against it by Bavarian Nordic A/S of Denmark has been dismissed. The suit alleged that the UK company had infringed three of Bavarian Nordic’s US patents for a viral vector used in the Danish company’s smallpox, HIV and cancer programmes.

The European Medicines Agency has installed a new specialist committee which will review for the first time, applications from companies developing gene therapies, cell-based products and therapies that are engineered from human and/or animal tissue.

Following the appointment of Per-Oluf Olsen as chief executive officer in November 2008, Pronova BioPharma of Norway has reduced the size of its top management team.

Aravis SA has announced the closing of a CHF 32 million Series B private financing for Synosia Therapeutics of Basel, Switzerland.

Pfizer Inc has announced plans to cut its global research staff by 5% to 8% following an earlier decision to refocus its research on six therapeutic areas. The staff reductions are expected to be carried out over the next several months, the company said in a statement issued on 14 January, 2009.

Elan Corporation Plc said that it has hired Citigroup Global Markets Inc to help it review its strategic options, including a possible alliance, merger or a sale. The review follows a decline in the company’s share price since July 2008 amid concerns about adverse events related to its multiple sclerosis drug, Tysabri (natalizumab).