News

Shares of Ablynx NV were trading at €7.15 per share on 9 November 2007, a slight premium above its issue price at its initial public offering (IPO) on the Euronext Brussels stock exchange two days earlier.

Pronova BioPharma ASA, a Norwegian company that uses fish oil to make omega-3 derived prescription drugs, reported strong third quarter results following an initial public offering of its shares in October 2007.

Legislation that would provide a new regulatory pathway in Europe for advanced medicinal products, including tissue-engineered therapies, has received final approval from the European Union’s Council of Ministers.

Polar Capital Holdings Plc, an investment management company with $3.9 billion under management, said it will launch the Polar Healthcare Opportunities Fund in December 2007.

Ark Therapeutics Group Plc, which is developing gene-based medicines, has raised a net £35.4 million with an “oversubscribed” placement of its London-listed shares.

GlaxoSmithKline (GSK) has reached an agreement with Tolerx Inc to develop and commercialise a candidate biologic for the treatment of type-1 diabetes and other autoimmune diseases.

The recently formed Paediatric Committee of the European Medicines Agency (EMEA) has issued its first opinions on requests from companies for waivers on the testing of their drug candidates in children.

Imperial Innovations Group Plc, which started operations as a university technology transfer office in 1986, has transformed itself into a venture capital company with about half of its investments in life science companies.

Modern Biosciences Plc has signed an exclusive worldwide licensing agreement with the University of Aberdeen to develop a series of small molecule compounds for the treatment of rheumatoid arthritis (RA).

Pharming Group NV, a Dutch biotech company with an orphan drug candidate for treating hereditary angioedema, said it has raised €70 million through a placement of five-year convertible notes bearing 6.875% annually.