Company News

A US medical technology company, Electrical Geodesics Inc (EGI), has announced plans to raise funds and seek admission to the London Stock Exchange’s Alternative Investment Market. EGI is based in Eugene, Oregon.

Ulrich Dauer, a co-founder and the current chief executive and chair of the management board of 4SC AG, will be stepping down from his positions effective 31 March. Announcing the move on 6 March, the German company cited “personal reasons.”

MorphoSys AG expects to increase spending on its proprietary antibody programmes this year after a reduction in investment in 2012 in order to push forward an in-licensed compound for cancer. It is also in active discussions to partner its antibody for RA.

The Type-2 diabetes drug Trajenta (linagliptin) won’t be launched in Germany following a decision by the county’s reimbursement authority that it doesn’t provide any additional benefit compared with medicines already on the market.

The Federal Court of Australia has upheld a challenge to AstraZeneca’s patents for the cholesterol medication, Crestor (rosuvastatin). The company said that it is reviewing its legal options which could include filing an appeal.

The Roche Group has announced that its former chief executive and current chairman of the board of directors, Franz Humer, will not be standing for re-election to the board in 2014. The company will nominate a successor in the autumn of 2013.

After the directors of Elan Corporation proposed a dividend based on 20% of the company’s royalty revenues from its sale of the multiple sclerosis drug Tysabri to Biogen Idec, the stock market reaction was muted.

A stem-cell encapsulation product designed to treat people with insulin-dependent diabetes has received fresh funding, and according to the developer, could enter the clinic in 2014.

Ablynx NV has announced that its private placement of shares was oversubscribed with the result that it raised €31.5 million by way of an accelerated bookbuilding procedure announced on 27 February.

Switzerland-based Santhera Pharmaceuticals said that it is exploring its strategic options which could include a merger or acquisition. This follows its voluntary withdrawal of Catena, a product for Friedreich’s Ataxia, from the Canadian market on 27 February.