The Lyon-based company, Poxel SA, has raised €16 million in a Series A round, enabling it to advance the Phase 2 programme for its lead compound against Type 2 diabetes. The round was led by Edmond de Rothschild Investment Partners.
The European Medicines Agency has issued a second warning about supply problems for the Genzyme Corp drug, Fabrazyme (agalsidase beta), for Fabry disease. It is recommending that, where possible, an alternative treatment be used.
AstraZeneca Plc and the technology transfer arm of the UK Medical Research Council have reached an agreement to share their respective compound libraries in order to increase the prospect of finding new treatments for serious diseases.
Eli Lilly announced that it has reached an agreement to acquire the privately-held US biotechnology company, Alnara Pharmaceuticals Inc which is developing protein therapeutics for metabolic diseases. Financial terms were not disclosed.
GlaxoSmithKline Plc and Genmab A/S have altered their co-development agreement for ofatumumab (Arzerra) with the result that GSK will develop the antibody for autoimmune indications. The companies will continue their collaboration in cancer.
Celgene Corp is set to expand its oncology franchise with an agreed cash and stock offer for Abraxis BioScience Inc of California which has a marketed treatment for metastatic breast cancer. The deal will establish Celgene in solid tumours.
Sanofi-Aventis SA is acquiring TargeGen Inc, a privately held US company that specialises in developing small-molecule kinase inhibitors for treatment of haematological malignancies.
Sygnis Pharma AG expects that initial results from its multinational Phase 2 efficacy study of the stroke treatment, AX200, will be available in mid-2011. The German company issued the forecast with the release of its fiscal 2009/2010 results.
MorphoSys AG has agreed to pay $13 million for rights to an anti-CD19 monoclonal antibody that is scheduled to start a Phase 1 study in cancer patients in the US shortly. It is the company’s first in-licensing deal for a clinical compound.
Gilead Sciences Inc has agreed to pay up to $120 million to acquire CGI Pharmaceuticals Inc, a privately-held US company with a library of small molecule kinase inhibitors. CGI’s lead preclinical compound may have application in RA.