Medical Marketing International Group Plc (MMI) said that it is divesting its antiviral business in order to focus its cash resources on oncology. The company’s lead oncology products are a DNA vaccine for the treatment of prostate cancer and a chemotherapy product using a ruthenium compound.
ReNeuron Group Plc said that it has been granted a US patent for the technology underpinning its candidate stem cell therapy for type 1 diabetes. The patent, CD56 Positive Human Adult Pancreatic Endocrine Progenitor Cells, contains broad claims relating to methods for culturing and identifying living islet progenitor cells by way of the expression of the CD56 cell surface marker.
SkyePharma Plc said that its chief executive officer, Frank Condella, intends to resign once the company renegotiates or refinances its convertible debt. He will be replaced by Ken Cunningham, the chief operating officer.
Daiichi Sankyo Co., Ltd has agreed to pay €150 million for the German biotechnology company, U3 Pharma AG, which researches fully-human antibodies as potential therapies for cancer.
Five new investigational medicines have been recommended for designation as orphan medicinal products by a committee of the European Medicines Agency. Producers of orphan-designated products may be eligible for grants and regulatory fee reductions.
NsGene A/S announced on 20 May 2008 that it has raised 40 million Danish Krone (€5.36 million) from its current shareholders to continue clinical development of its biodelivery products.
The UK House of Commons defeated opponents of a proposal to allow research using hybrid embryos. As a result, research involving hybrids will be allowed under a bill that updates the UK Human Fertilisation and Embryology Act 1990.
Antisoma Plc has announced plans to acquire the closely-held US oncology company, Xanthus Pharmaceuticals, Inc. of Cambridge, Massachusetts in a share transaction valued at £26.8 million.
Ark Therapeutics Group Plc said that results of a corroborative Phase 3 study of its gene-therapy treatment for malignant glioma, Cerepro (sitimagene ceradenovec), should be available in the third quarter of 2008, paving the way for the filing of a marketing authorisation application for the product in Europe.
Biovitrum, the Swedish pharmaceutical company, said on 15 May 2008 that it is implementing its strategic restructuring plan of November 2007. The plan involves licensing out or terminating most of its primary care products while bringing its niche products all the way to market