InDex Pharmaceuticals Holding AB, which is developing treatments for immunological diseases, reported unchanged revenue for 2016 and a widening of its operating deficit as it prepares to take its lead product for ulcerative colitis into a proof-of-concept trial.
Lead Pharma Holding BV has reported progress in its collaboration with Sanofi SA to develop new medicines for autoimmune diseases. A second milestone, the size of which was not disclosed, has been paid to the Dutch company by its Big Pharma partner.
The European Medicines Agency is recommending approval of Natpar (parathyroid hormone) to treat patients with chronic hypoparathyroidism who require more than calcium and vitamin D. If approved by the European Commission, Natpar would be the first hormone replacement therapy for this condition.
Galapagos NV more than doubled its revenue in 2016 while paring its operating loss to a manageable €11.4 million compared with €89.4 million a year earlier. Moreover, the Belgian company finished the year with cash holdings of €980.9 million, which was greater than the cumulative investments made by all equity investors in the company since its founding in 1999.
Sweden-based venture capital fund HealthCap has provided funds to a new company that is developing alpha-particle emitting radiotherapeutics for cancer. Fusion Pharmaceuticals of Canada has raised $25 million in a Series A financing round.
Ablynx NV, which has a portfolio of therapeutic proteins derived from the llama, reported a 10% increase in revenue to €85.2 million for 2016, but a wider operating loss of €28.6 million mainly due to higher clinical research expenses.
Belgium-based UCB SA saw its underlying profit increase by 26% to €1.03 billion in 2016 as its core neurology and immunology products achieved higher sales and the growth in operating expenses was kept in check. Further profit growth is expected this year.
Genmab A/S reported a 60% increase in revenue to DKK 1.8 billion (€244.27 million) in 2016, largely due to higher than expected royalties on sales of Darzalex (daratumumab), a treatment for multiple myeloma, as well as milestone payments from its licensee Janssen Biotech Inc.
The US Food and Drug Administration has approved the monoclonal antibody brodalumab to treat adults with moderate-to-severe plaque psoriasis, an autoimmune disorder that causes patches of redness and flaking on the skin.
Shire Plc’s financial performance in 2016 reflected the impact of its acquisition of Baxalta Inc, its largest takeover to date, as well as the integration of Dyax Corp, a developer of products for rare diseases which was acquired in 2015.