The management of large pharmaceutical companies often struggle in deciding which products to bring forward into the expensive final stage of development. However, two venture capital companies have developed a way of ‘underwriting’ so that pharma can have more choices.
Bone Therapeutics SA of Belgium has raised €7.7 million from existing private and institutional investors and the Walloon regional government to advance the clinical development of its lead cell therapy product for bone disease.
Researchers from International Business Machines Corp (IBM) have developed a new antimicrobial hydrogel which, the company says, could be used to treat antibiotic-resistant infections in hospitals and other healthcare facilities.
Novartis expects flat sales in 2013 – a period during which the company will also experience a change in leadership. Chairman Daniel Vasella has decided to stand down and will be replaced by Jörg Reinhardt, currently chairman of Bayer HealthCare AG.
The US Food and Drug Administration has approved a new indication for the Novartis drug Exjade (deferasirox) to treat patients aged 10 years and older who have chronic iron overload resulting from a genetic blood disorder.
Watson Pharmaceuticals Inc has agreed to pay $150 million upfront for Uteron Pharma SA, a Belgian producer of healthcare products for women. The deal also includes up to $155 million in potential future milestone payments.
Cytos Biotechnology Ltd said that it is reclaiming a vaccine asset that had been licensed to Novartis for the treatment of nicotine addiction following the failure of a Phase 2 trial. The product is a therapeutic vaccine.
Lophius Biosciences GmbH has raised nearly €4 million from existing shareholders and new shareholders to finance development of diagnostics based on T-cell technology.
Life Technologies Corp of the US has announced the acquisition of privately-owned BAC BV of the Netherlands which specialises in the development and manufacture of protein purification products. The deal will expand the US company’s capabilities in bioprocessing.
Prexton Therapeutics SA of Geneva Switzerland has negotiated an exclusive option for a series of positive allosteric modulator drugs targeting Parkinson’s disease with the goal of progressing them into clinical development. The agreement is with Domain Therapeutics SA of France.