Company News

Summit Therapeutics Plc plans to raise $25 million in a private share placement that will finance a Phase 3 clinical programme of the investigational antibiotic ridinilazole for the treatment of Clostridium difficile.

The funds will also support a product to treat gonorrhoea which is poised to enter Phase 1 and a group of discovery assets targeting pathogens (ESKAPE pathogens) that are responsible for the majority of nosocomial infections in the world.

Santhera Pharmaceuticals Holding AG has raised CHF 23.5 million (€20.82 million) in a share placement to complete the acquisition of rights to vamorolone, a synthetic glucocorticoid corticosteroid which is being developed for Duchenne muscular dystrophy (DMD).

The European Medicines Agency’s main scientific committee has recommended approval of a new hybrid medicine for managing chronic pulmonary infection due to the bacteria Pseudomonas aeruginosa in patients with cystic fibrosis.

An RNA oligonucleotide drug that is being tested as a combination therapy in patients with pancreatic and colorectal cancers has produced positive data in a Phase 1 clinical study. Top-line results from the combination of NOX-A12 (olaptesed pegol) and Keytruda produced responses from patients whose cancers had progressed rapidly on prior therapy.

e-Therapeutics Plc is to collaborate with Novo Nordisk A/S to discover potentially novel therapeutic approaches for treating a specific area of Type 2 diabetes. The two companies will use e-Therapeutics’ discovery platform to identify new biological pathways and compounds.

The agreement lasts 12 months. Financial terms were not disclosed.

Argenx NV has secured a licensing agreement for its early-stage antibody drug cusatuzumab with Janssen Pharmaceutical Companies to develop the drug for acute myeloid leukaemia (AML) and high-risk myelodysplastic syndrome (MDS). Announced on 3 December, the deal features an upfront cash payment of $300 million and potential milestones of $1.3 billion.

In addition to the current and future cash payments, Janssen will purchase $200 million of newly issued Argenx shares representing 4.68% of the Belgian company’s outstanding shares at a price of €100.02 per share.

GlaxoSmithKline Plc has taken a major step to rebuild its oncology portfolio with the agreed acquisition of Tesaro, Inc for $5.1 billion which has a poly ADP ribose polymerase (PARP) inhibitor on the market for the treatment of patients with ovarian cancer. This drug is Zejula (niraparib).

The Bayer Group plans to reduce its global workforce by 10% over the next three years as it prepares to integrate Monsanto Co into its global operations following its acquisition of the US agrochemical company for $66 billion in June. A significant number of the job losses will be in Germany, Bayer announced on 29 November.

A new precision medicine for patients whose cancers have a specific genetic feature has been approved by the US Food and Drug Administration – the second time the agency has based a decision on a common biomarker rather than the location of a tumour in the body.

The Germany-based biotech company, Adrenomed AG, has raised €24 million in a Series D financing round to secure the clinical development of a new medicine for septic shock, a life-threatening condition that occurs when a person’s blood pressure drops after an infection.