Company News

SuppreMol GmbH, which specialises in autoimmune diseases, has raised €9.5 million as the second part of a €16 million series D financing for the Phase 2 development of its lead autoimmune drug candidate.

Elan Corporation Plc has announced a further restructuring and a share repurchase plan in a bid to win over shareholders who are being wooed by the US investment group Royalty Pharma in an unsolicited takeover bid.

Atlas Ventures of the US has entered into new partnership agreements with Amgen and Novartis in connection with the closing of its ninth investment fund Atlas IX. The two companies are limited partners of the fund, and will participate in the creation of new  startup companies.

AbbVie Inc (formerly part of Abbott Laboratories) is expanding its collaboration with Galápagos NV of Belgium to take the Galápagos JAK1 inhibitor, GLPG0634, into Crohn’s disease. The molecule is already being investigated for rheumatoid arthritis.

Sanofi SA said that its JAK2 inhibitor for myelofibrosis met its primary endpoint in a Phase 3 pivotal study. The placebo-controlled study was conducted in 24 countries under a Special Protocol Assessment with the US Food and Drug Administration.

A new radiopharmaceutical developed by Algeta ASA of Norway to treat men with prostate cancer that has spread to the bones has been approved by the US Food and Drug Administration. The product (radium-223) is an alpha-emitting nuclide.

Evotec AG has confirmed that revenue this year should grow to between €90 million and €100 million on the basis of expected new contracts, milestone payments and the extension of existing contracts. Revenue in 2012 was €87.3 million.

Cardio3 BioSciences SA, which has an autologous cell therapy for patients with chronic heart failure in the clinic, has raised €19 million in a private placement with existing investors to finance the clinical development of its lead product.

Researchers at Harvard University have reported the discovery of a hormone, betatrophin, that appears to control the proliferation of beta cells, which are essential in the storage and release of insulin in the human body.

A rare genetic mutation that confers a high risk for osteoporosis and osteoporosis-related traits has been reported by investigators in Iceland. The finding, which was reported on 5 May in Nature, relates to a nonsense mutation of the gene LGR4.