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.
Merck & Co Inc is the latest company to abandon a programme for treating patients with Alzheimer’s disease because the treatment failed to show efficacy. On 14 February, the US company said it was stopping a Phase 2/3 study of verubecestat, an inhibitor of beta-secretase 1 (BACE1).
Actelion AG reported an 18% gain in net revenue for 2016 and a 20% increase in operating profit in its last annual accounts as a separate entity before Johnson & Johnson Inc completes the acquisition of the Swiss company for $30 billion.
Protagen AG, a diagnostics company located in Dortmund, Germany, has joined forces with the US National Cancer Institute (NCI) to identify biomarkers that will predict how well patients respond to checkpoint antibody therapies, and identify immune-related adverse events.
The language was assertive, almost combative. Four venture capitalists were asked to give their views of the environment for biotech investment in Europe and they each spoke about the need to identify good assets early, while jettisoning those with less promise.