Forbion Capital Partners has raised $50 million for a second co-investment fund whose purpose is to invest in several portfolio companies that are close to an exit. The firm’s first co-investment fund closed in 2010 with commitments of €54 million.
Privately-owned Molecular Partners AG of Switzerland has expanded its relationship with Johnson & Johnson Inc with an agreement to research potential products for a number of immunological diseases using its protein technology.
The UK speciality pharmaceutical group, Sinclair IS Pharma Plc, is to pay £21 million to acquire Advanced Bio-Technologies Inc, giving it full rights outside the US to the topical silicone gel product, Kelo-cote, for scar reduction.
AstraZeneca said it intends to reduce its US sales force by 1,150 or 24% by early February 2012 as part of the company’s ongoing strategy to operate the business more efficiently.
Early-stage life science projects received another boost on Wednesday with the launch of a new technology fund by the venture capital arm of the European Molecular Biology Laboratory (EMBL). The new fund, EMBL Technology Fund II, has raised €40 million in a first closing.
Topotarget A/S of Denmark has announced plans to reduce its staff and stop development of early compounds in order to focus its resources on belinostat, its late-stage histone deacetylase (HDAC) inhibitor for peripheral T-cell lymphoma.
Zealand Pharma A/S said that the latest clinical data for its prospective type 2 diabetes treatment, lixisenatide (Lyxumia) in combination with long-acting insulin, showed a significant reduction in plasma glucose concentrations (HbA1c).
A new UK start-up company, TopiVert, is set to receive £8 million in venture capital from the Imperial Innovations Group Plc and SV Life Sciences. TopiVert will develop topical drugs for inflammatory diseases of the eye and gut.
Fourteen research and development projects in the field of regenerative medicine are set to receive £8.5 million from the UK government as part of a drive to stimulate innnovation in the sector. The projects will be led by small and medium sized companies.
AstraZeneca Plc has announced plans to make 22 compounds available to medical researchers in the UK free of charge in a bid to promote more drug discovery. The compounds are not the focus of current research at the company.