Genmab A/S, one of Europe’s oldest therapeutic antibody companies, has taken a new strategic direction with the decision, announced on 14 September 2010, to research antibody-drug conjugates with Seattle Genetics Inc of the US.
Genmab A/S has entered into a research collaboration with Seattle Genetics Inc to research and possibly co-develop monoclonal antibody conjugates for solid tumours. Financial details were not disclosed.
Evolva Holding SA reported a 21% increase in revenue in the 2010 first half, largely due to income from projects being carrying out for agencies of the US Department of Defense. The Switzerland-based company works in the area of synthetic biology.
The Pharming Group NV is set to receive $15 million upfront from Santarus Inc as part of a commercialisation deal for North America for Rhucin, its recombinant protein for hereditary angioedema. Pharming is planning an FDA filing soon.
The Zurich-based investment management firm, Nextech Invest Ltd has raised €26 million for its third fund, which invests in companies developing novel oncology products. This brings the total raised for oncology since 1999 to €121 million.
Novartis International AG said that the Russian health authority has approved its oral therapy for the treatment of relapsing, remitting multiple sclerosis, Gilenya (fingolimod). Earlier, Russia approved a competing MS drug from Merck Serono.
Galápagos NV is set to acquire GlaxoSmithKline’s Zagreb, Croatia-based research site as well as provide research and development services to the UK multinational in a three-year fee-for-service contract.
Addex Pharmaceuticals Ltd of Switzerland has been awarded a $900,000 grant from the Michael J. Fox Foundation in the US to help fund a Phase 2 study of its candidate treatment for Parkinson’s disease levodopa-induced dyskinesia, ADX48621.
The Roche Group has launched a review of its staffing levels and other expenses in light of pressure on revenue from healthcare reform in the US and Europe and set-backs in its late-stage drug pipeline. Details will be announced before the end of 2010.
The US Food and Drug Administration has issued its second ‘complete response letter’ to the AstraZeneca unit, MedImmune, rejecting its application to market motavizumab, a new monoclonal antibody for respiratory syncytial virus disease.