Intercell AG, the Austrian vaccine developer, is raising €33 million with a three-year convertible note issue which gives its institutional investors considerable leverage possibilities. The company increased the private placement to meet demand.
Wilex AG, which has advanced-stage products for the diagnosis and treatment of renal cell cancer, reported a net loss of €23.1 million for 2010 on zero sales revenue.
Johnson & Johnson Inc has declared its €24.75 per-share offer for Crucell NV, the Dutch developer of therapeutic and prophylactic vaccines, unconditional. Crucell will now operate as a vaccine centre within J&J. The two companies announced completion of the merger on 22 February 2011.
Fate Therapeutics Inc, the San Diego, California-based stem cell company, has announced the departure of its president and chief executive officer, Paul Grayson. Mr Grayson is leaving to form a new company, according to Fate.
The Committee for Medicinal Products for Human Use has issued positive opinions for three new medicines and restrictions on the use of two. In addition, a new contraindication is being recommended for Merck’s Brinavess (vernakalant).
Cytos Biotechnology AG, the Swiss developer of therapeutic vaccines, said that it reduced its cash burn in 2010 but it will need to raise further financing in the future in order to repay outstanding convertible bonds.
Sanofi-Aventis SA has won the agreement of Genzyme Corp’s management to acquire the US company for $74 per share in cash, plus special milestone payments if certain product goals are met. The offer is an increase from $69 per share.
E-Therapeutics Plc, which is a service company and a drug developer, is proposing to raise £17.6 million gross through a primary share offering arranged by Panmure Gordon, which is also overseeing a £3.4 million secondary offering of E-Therapeutics shares.
The non-profit Medicines for Malaria Venture and Jomaa Pharma GmbH of Germany have entered into an agreement to co-develop fosmidomycin as a component of a non-artemisinin based combination therapy for acute Plasmodium falciparum malaria.
Sinclair Pharma Plc and IS Pharma Plc, two specialist pharmaceutical companies listed in London, intend to merge through an exchange of shares, subject to certain conditions.