AstraZeneca Plc’s biologics arm, MedImmune, has enlarged its presence in the field of antibody-drug conjugates with the acquisition of Spirogen Ltd, a London-based ADC company for up to $440 million, providing certain milestone targets are met.
The Roche group has announced plans to invest CHF 800 million (€568 million) to increase production capacity for its biologic medicines over the next five years including meeting demand for Kadcyla, an antibody-drug conjugate for breast cancer.
Heptares Therapeutics Ltd is set to receive an undisclosed milestone from MorphoSys AG for delivering a stabilised form of a G protein-coupled receptor (GPCR) against a target selected by the German company. This is the first step towards developing antibodies targeting the protein complex.
The US Food and Drug Administration has agreed to give Alkermes Plc’s candidate drug for the adjunctive treatment of major depressive disorder a ‘fast track’ designation which means the company can have more frequent interactions with the regulator.
The market for initial public offerings for biotechnology companies in the US is likely to remain open for some time as investors position themselves to take advantage of the demand for new medical therapies.
Hutchison MediPharma Ltd (HMP), the R&D unit of Hutchison China MediTech Ltd, has secured a licensing agreement for an early-stage oncology compound with Eli Lilly and Company – its third deal for a molecule in its six-compound clinical portfolio. The deal was announced on 9 October.
The Dutch biotech company, Pharming Group NV, has raised €12 million in a private share placement, sweetened with warrants, with existing and new institutional investors. The proceeds will support the manufacture of Ruconest, which is awaiting FDA approval.
The German vaccine developer CureVac GmbH has secured a licensing agreement with Janssen Pharmaceuticals (Johnson & Johnson Inc) to develop an influenza vaccine based on its messenger RNA technology. Financial terms were not disclosed.
Pharmalink AB, a Sweden-based specialty pharmaceutical company, has raised SEK96 million (€11.1 million) in a Series C round to advance the clinical development of products to treat patients with cancer and renal disease.
The fortunes of biotech, at least in the US, have shifted. Gone is the gloom and in its place has arrived something close to euphoria, driven by a wave of initial public offerings (IPOs).