Cardio3 BioSciences SA of Belgium said that its previously announced initial public offering of shares will commence on 21 June and end on 3 July. The indicative price range of the shares is between €16.65 per share and €19.00 per share.
A Phase 4 post-marketing trial of the Type 2 diabetes drug Onglyza (saxagliptin) in patients with a history of cardiovascular disease met the primary safety objective of non-inferiority, but did not show superiority versus placebo, the sponsors said.
A lawsuit has been filed in the US by a patient with Type 2 diabetes who was prescribed Byetta and Janumet and later developed pancreatic cancer. The suit was announced by Rheingold, Valet, Rheingold, McCartney & Giuffra LLP in New York.
Johnson & Johnson Inc is set to pay up to $1 billion to acquire privately-held Aragon Pharmaceuticals Inc of the US which has a product in Phase 2 development for castration resistant prostate cancer. The upfront payment is $650 million.
Eli Lilly and Company has stopped a Phase 2 study of a beta secretase inhibitor being investigated in Alzheimer’s disease as a result of abnormal liver tests in patients. The decision doesn’t affect other compounds in development, the company said.
AstraZeneca Plc is to pay up to $1.15 billion to acquire privately-held Pearl Therapeutics Inc of the US which has a Phase 3 product in development for chronic obstructive pulmonary disease, as well as inhaler and formulation technology with potential application in future combination products.
AstraZeneca Plc has said it will not seek to register fostamatinib, a spleen tyrosine kinase (Syk) inhibitor for rheumatoid arthritis, following disappointing results from a Phase 3 programme. It will return rights to its partner, Rigel Pharmaceuticals Inc.
Cardio3 BioSciences SA of Belgium has announced plans to raise new funds through an initial public offering of its shares on the NYSE Euronext exchanges in both Brussels and Paris. The company has a cell therapy for heart repair in Phase 3.
MorphoSys AG has successfully outlicensed its first proprietary antibody, MOR103 for rheumatoid arthritis, to GlaxoSmithKline Plc in a deal potentially valued at €445.5 million. The German company is set to receive an upfront payment of €22.5 million.
Horizon Discovery Ltd has announced the final closing of its Series C funding round with share placements valued at £6.9 million. The total sum raised in the round is £18.2 million which will be used to advance its research tools including cell lines.