AstraZeneca Plc is to take full control of a portfolio of diabetes assets being managed jointly with Bristol-Myers Squibb (BMS) in order to strengthen its position in the market. The upfront payment to BMS is $2.7 billion with potential milestones of $1.4 billion.
The board of Algeta ASA is recommending that shareholders agree to a takeover offer from Bayer that values the company at NOK 362 ($58.7 per share) for a total of $2.9 billion. Bayer is Algeta’s partner for Xofigo, a recently approved radiopharmaceutical.
AmpliPhi BioSciences Corp, which is developing new antibacterial therapies, has reached an agreement with funders to raise $18 million in a private share placement to support development of therapies that target Gram-negative bacterial infections.
The proposed takeover of Elan Corporation Plc by Perrigo Company, a large US wholesaler of healthcare products and generic prescription drugs, has been approved by the Irish High Court paving the way for the completion of the deal on 18 December.
H. Lundbeck A/S and Otsuka Pharmaceutical Co Ltd have decided to advance an anti-amyloid beta vaccine, currently in preclinical development, for the treatment of Alzheimer’s disease. The focus is on early inhibition of amyloid beta.
Biocartis NV has joined forces with the Flanders Institute for Biotechnology (VIB) to develop a new diagnostic test for cancer designed to detect biomarkers of microsatellite instability for several cancers, in particular colorectal cancer.
Algeta ASA has confirmed receipt of a preliminary acquisition proposal from Bayer AG that values the company at NOK 336 (€40.5) per share. Bayer is Algeta’s partner for Xofigo, a new radiopharmaceutical for prostate cancer that has spread to the bone.
Barcelona-based Grifols SA has become a strategic investor in TiGenix NV through the purchase of new shares valued at €12 million. The deal brings Grifols, the world’s third largest producer of plasma-derived products, further into the cell therapy arena.
Mission Therapeutics Ltd of the UK has raised £20 million in a series B financing round to support the development of enzyme inhibitors that are thought to have the potential of targeting difficult-to-treat cancers. The enzymes are deubiquitylating enzymes involved in the DNA damage response.
A capital raising effort by Switzerland-based Cytos Biotechnology Ltd has been successful, raising CHF 24.3 million (€19.7 million) from the placement of 8.1 million new shares with existing and new investors. This was CHF 6.7 million more than expected.