Abingworth LLP has raised £225 million from investors for its tenth life sciences fund that will provide venture capital to companies in Europe and the US. The proceeds exceeded the investment group’s target of £200 million.
InDex Pharmaceuticals AB of Sweden has raised $20 million (€15 million) in a share placement with institutional investors ahead of the release of data from a late-stage trial of its lead product Kappaproct for severe ulcerative colitis.
Venture-capital backed Novimmune SA of Switzerland has secured CHF 60 million ($66 million) in new capital, its largest financing round in five years. The monies will be used to advance its pipeline of clinical-stage monoclonal antibodies.
Cellectis SA has reached an agreement with privately-owned Laboratoires Servier to develop and commercialise allogeneic T cell therapies for cancer. Under the agreement Servier will make an upfront payment of $10 million, and up to $140 million for each of six new products.
Novartis has become the latest company to invest in experimental treatments for cancer that target immune checkpoint proteins on T cells. It is doing this with the acquisition of CoStim Pharmaceuticals Inc of Boston. Financial details weren’t disclosed.
Actavis Plc, an Irish-American generic producer, has made an agreed bid to buy Forest Laboratories Inc, a specialty pharmaceutical company, for about $25 billion, comprising 70.9% in stock and 29.1% in cash.
Advanced Accelerator Applications (AAA) SA of France has raised €41 million in additional equity financing from existing and new shareholders in order to support its geographical expansion and the clinical development of its portfolio of radiopharmaceuticals.
The US Food and Drug Administration has approved Vimizim from BioMarin Pharmaceutical Inc to treat a rare congenital enzyme disorder that can lead to problems with bone development, growth and mobility.
Summit Plc is proposing to raise up to £21 million in a private share placement directed at institutional and other investors in the US and Europe. The funds will advance compounds for Duchenne Muscular Dystrophy and C. difficile infections.
Paris-based Sofinnova Partners has seen another company from its Sofinnova Fund VI make an initial public offering of shares in the US – this time for Flexion Therapeutics Inc which is developing products for pain.