Mesoblast Ltd of Australia has raised A$170 million (€136.3 million) in a private placement of its shares with existing and new investors including M&G Investment Management and Capital Research. The monies will fund the company’s cell therapies.
Shire Plc has expanded its portfolio of potential medicines for rare diseases with the acquisition of the privately-held Swedish company, Premacure AB, of Uppsala. The key asset is a protein replacement therapy for the prevention of retinopathy of prematurity.
Auditors for Germany’s 4SC AG have declared that the company has cash to support its activities into the third quarter of 2014. Nevertheless shareholders will be told at an upcoming meeting that losses now amount to half of the company’s share capital.
Milestone payments from partners and a strong performance of its service business boosted revenue at Galápagos NV in 2012 and dramatically reduced its loss for the year. Cash on 31 December was €94.7 million.
Just eight months after securing £17 million in new equity, Cell Medica Ltd has expanded its management team to appoint a chief medical officer, a chief financial officer and a vice president of development all of whom will be based in the US.
A new UK start-up based on technology from King’s College London has received funding from Advent Venture Partners. CoCo Therapeutics Ltd will progress an approach for Alzheimer’s disease that involves the retinoic acid receptor, RAR-alpha.
A US medical technology company, Electrical Geodesics Inc (EGI), has announced plans to raise funds and seek admission to the London Stock Exchange’s Alternative Investment Market. EGI is based in Eugene, Oregon.
Ulrich Dauer, a co-founder and the current chief executive and chair of the management board of 4SC AG, will be stepping down from his positions effective 31 March. Announcing the move on 6 March, the German company cited “personal reasons.”
MorphoSys AG expects to increase spending on its proprietary antibody programmes this year after a reduction in investment in 2012 in order to push forward an in-licensed compound for cancer. It is also in active discussions to partner its antibody for RA.
The Type-2 diabetes drug Trajenta (linagliptin) won’t be launched in Germany following a decision by the county’s reimbursement authority that it doesn’t provide any additional benefit compared with medicines already on the market.