Company News

AstraZeneca Plc said that its MedImmune biologics unit has acquired AlphaCore Pharma Inc of the US which has a product in development, ACP-501, for the acute treatment of atherosclerosis, a hardening of the artery walls following a build-up of cholesterol.

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Clavis Pharma ASA said a Phase 3 trial of its lipid-conjugated therapy for patients with acute myeloid leukaemia (AML) failed to meet its endpoint of a significant survival advantage and that all development work with the compound will be stopped.

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The Swiss synthetic biology company, Evolva Holding SA, has raised CHF 31.3 million (€25.7 million) in a share placement with existing and new investors in order to support its portfolio of nutritional and pharmaceutical products.

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CureVac GmbH has initiated a Phase 2b trial of its messenger RNA vaccine, a new treatment modality, in patients with castration-resistant prostate cancer. The trial will enrol up to 200 patients in eight European countries.

Agennix AG has announced that it has incurred a cumulative loss of more than half of its nominal share capital and will therefore postpone the filing of its 2012 results, originally due on 28 March. The company has cash to fund operations into June 2013.

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Evotec AG expects revenue to increase again this year after achieving a 9% rate of growth in 2012 and the execution of both new alliances and contract extensions. Revenue amounted to €87.3 million for the year of which milestones were €12.3 million.

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The European Medicines Agency has announced an investigation into academic findings that suggest an increased risk of pancreatitis and pancreatic duct metaplasia in patients with Type 2 diabetes who take GLP-1 agonists and DPP-4 inhibitors.

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Shire Plc has bolstered its portfolio for the second time in two weeks with plans to acquire SARcode Bioscience Inc of the US which has a late-stage product for treating the symptoms of dry eye disease. The deal includes an upfront payment of $160 million.

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GlaxoSmithKline Plc has had its application for a new influenza treatment turned back by the US Food and Drug Administration owing to an administrative matter. Announcing receipt of a ‘complete response letter,’ GSK said the matter has recently been resolved.

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A new UK company, Infirst Healthcare, that is developing new versions of existing cough, cold and pain medicines has raised £25 million from Invesco Asset Management Ltd to launch its first product in Europe and to complete development of a second.

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