Newron Pharmaceuticals SpA of Italy has raised CHF4.7 million (€3.91 million) in a private placement of its shares ahead of the planned registration in 2013 of its lead compound for Parkinson’s disease, safinamide.
Algeta ASA is accelerating its bid to produce an alternative platform to the antibody-drug conjugate with the launch of a new programme of radionuclides linked to monoclonal antibodies. The latest programme is directed at haematological cancers.
Pharmaceutical companies everywhere have been shrinking their research budgets, but Elan Corporation Plc has gone one step further. It is spinning out its research department to shareholders. This will put the Ireland-incorporated company immediately into profit. Moreover, profits will be sheltered from tax in future years by a large tax loss carried forward from previous years.
Pronova BioPharma ASA has raised its income and beaten off a challenge to two US patents for its lead product, Lovaza, paving the way for a further expansion in the US. Lovaza is a prescription drug for heart disease which is derived from fish oil.
Mologen AG of Germany is expediting discussions with potential pharmaceutical company partners with a view towards starting a Phase 3 study of its lead product for colorectal cancer next year. The product, MGN1703, is a toll-like receptor 9 agonist.
Biotest AG has confirmed its guidance for higher revenue and a slightly higher operating profit this year despite losses on its Greek government bond holdings and a delay in the expected launch of an immunoglobulin product in the US.
The US Food and Drug Administration has approved Lucentis (ranibizumab injection) for the new indication of diabetic macular edema, an eye disease that can occur in people with diabetes. The developer is Genentech (Roche).
Roche said that its angiogenesis inhibitor, Avastin (bevacizumab), has shown a significant improvement in progression-free survival in newly diagnosed glioblastoma when added to radiation and temozolomide. Overall survival data are expected in 2013.
4SC AG has been taking scientific advice from regulators about the design of a prospective Phase 3 study of its HDAC inhibitor for liver cancer, resminostat. Pending the conclusion of a partnership, a study could start in the 2013 first half, according to management.
Amgen has stopped a Phase 3 trial of its monoclonal antibody for metastatic pancreatic cancer after the independent data monitoring committee concluded the drug was unlikely to show improved overall survival compared with gemcitabine.