Finance, Grants, Deals

Merck & Co Inc has announced plans to acquire privately-held Afferent Pharmaceuticals of San Mateo, California, US for up to $1.25 billion depending on the achievement of specific clinical and commercial milestones.

Jazz Pharmaceuticals Plc, a Dublin-based, Nasdaq-listed company that has built a diversified pharmaceutical business through acquisitions, has made an offer to acquire Celator Pharmaceuticals Inc and its late-stage product for treating acute myeloid leukaemia (AML) for about $1.5 billion.

A UK-based gene therapy company, Freeline Therapeutics, has received a third investment from the UCL Technology Fund, which supports research from University College London. The fund is managed by Albion Ventures in collaboration with UCL Business, the university’s technology transfer office.

Pfizer Inc has completed its $5.2 billion acquisition of Anacor Pharmaceuticals Inc, a US company that is developing small molecule therapeutics using an element in nature called boron. Boron is ingested through the consumption of fruits, vegetables, milk and coffee.

As gene editing technologies gain traction in laboratories around the world, companies producing the new technologies are attracting more money from investors. An example is CRISPR Therapeutics which has a number of preclinical projects where it is investigating gene editing for therapeutic use.

Verona Pharmaceuticals Plc, which is developing products for respiratory diseases, has made arrangements to raise £44.7 million with an equity placement sweetened with warrants. The proceeds will be used for a Phase 2b trial of its lead product RPL554 for chronic obstructive pulmonary disease.

Woodford Investment Management LLP has raised its stake in Imperial Innovations Group to 21% making it the group’s second most significant investor behind Invesco Asset Management.

Medical device company Mainstay Medical International Plc has raised €30 million in a share placement to new and existing investors to commercialise its implantable neurostimulation device for back pain in Europe and complete a trial for a US regulatory submission.

Allecra Therapeutics, a three-year old biotech company co-located in Germany and France, has raised €22 million in a Series B investment round to finance the development of an antibiotic combination therapy designed to treat Gram-negative bacteria.

Gilde Healthcare Partners BV has raised €250 million for its fourth life science fund that targets investments in medical devices, digital health technology and therapeutics in Europe and North America. Koninklijke Philips NV acted as a cornerstone investor.