Finance, Grants, Deals

Gates Foundation funds Novartis drug

The Bill & Melinda Gates Foundation is to provide $6.5 million to Novartis to support development of a preclinical compound that has potential to treat cryptosporidiosis, the second leading cause of infectious diarrhoea in children under two years of age.

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Location

Switzerland

Pieris raises $44 million in US IPO

An initial public share offering in the US for Pieris Pharmaceuticals Inc has been priced at $8 per share and is expected to raise $44 million. The Nasdaq IPO will enable the company, a developer of protein therapeutics, to advance its bispecific drug candidate targeting the tumour microenvironment.

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Location

United States

Synpromics works with UCL

Synpromics Ltd is bringing its technology for creating synthetic promoters into a partnership with a unit of University College London (UCL) in order to help researchers there develop gene therapies for blood-based disorders. The agreement was announced on 25 January.

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Location

United Kingdom

Cognitive diseases targeted

A new Belgian company has been launched to develop therapies for cognitive disorders using intellectual property from UCB SA. The company has received Series A financing of €17 million from a syndicate of Belgian and international investors.

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Location

Belgium

New money for heart monitoring device

Foundry Innovation & Research 1 Ltd (FIRE1) has raised €40 million in a Series C financing round to advance development of a medical device that uses digital technology to remotely monitor the health of patients who have had heart failure.

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Location

Ireland

Evonetix raises £9 million for gene synthesis

A two-year old company targeting the market for synthetic biology has raised £9 million to advance a new gene synthesis platform. Evonetix Ltd of Cambridge UK has technology that enables the parallel synthesis of DNA on silicon arrays.

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Location

United Kingdom

Innate Pharma, MedImmune to trial cancer combo

A new agreement for fighting cancer by targeting the tumour microenvironment has been announced by the AstraZeneca Plc unit MedImmune and Innate Pharma SA of France. The goal is to overcome some of the limitations of the current checkpoint inhibitors.

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Location

France

Ablynx to be acquired by Sanofi for €3.9 billion

Sanofi SA has successfully wooed the board of Ablynx to agree to a merger that values the Belgian company at €3.9 billion, or 46 times its revenue for 2016. In early January, Ablynx rejected a €2.6 billion takeover bid from Novo Nordisk A/S.

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Location

France

Novartis gains ex-US rights to Luxturna

Novartis has negotiated commercialisation rights outside the US to Luxturna (voretigene neparvovec-rzyl) – the first gene therapy to be approved in the US for an inherited retinal disease. The therapy was developed by Spark Therapeutics Inc which retains US rights to the drug.

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Location

Switzerland

Norgine Ventures invests in wireless device

Norgine Ventures, the corporate venture capital arm of the specialty pharma company Norgine NV, has announced a €4.5 million investment in a Spanish company with wireless medical device technologies.

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Location

Spain

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