AstraZeneca Plc said that its MedImmune biologics unit has acquired AlphaCore Pharma Inc of the US which has a product in development, ACP-501, for the acute treatment of atherosclerosis, a hardening of the artery walls following a build-up of cholesterol.
The Swiss synthetic biology company, Evolva Holding SA, has raised CHF 31.3 million (€25.7 million) in a share placement with existing and new investors in order to support its portfolio of nutritional and pharmaceutical products.
Shire Plc has bolstered its portfolio for the second time in two weeks with plans to acquire SARcode Bioscience Inc of the US which has a late-stage product for treating the symptoms of dry eye disease. The deal includes an upfront payment of $160 million.
A new UK company, Infirst Healthcare, that is developing new versions of existing cough, cold and pain medicines has raised £25 million from Invesco Asset Management Ltd to launch its first product in Europe and to complete development of a second.
Are venture capitalists getting better terms from their portfolio sales to Big Pharma or is it the other way around? In a lively discussion about the state of the biotech industry, panelists from the world of venture capital and industry said the relationship between the two parties can be prickly at times. But both sides need one another. The discussion took place at the annual Bio-Spring meeting in Barcelona Spain on 11 March 2013.
Mesoblast Ltd of Australia has raised A$170 million (€136.3 million) in a private placement of its shares with existing and new investors including M&G Investment Management and Capital Research. The monies will fund the company’s cell therapies.
Shire Plc has expanded its portfolio of potential medicines for rare diseases with the acquisition of the privately-held Swedish company, Premacure AB, of Uppsala. The key asset is a protein replacement therapy for the prevention of retinopathy of prematurity.
A new UK start-up based on technology from King’s College London has received funding from Advent Venture Partners. CoCo Therapeutics Ltd will progress an approach for Alzheimer’s disease that involves the retinoic acid receptor, RAR-alpha.
A US medical technology company, Electrical Geodesics Inc (EGI), has announced plans to raise funds and seek admission to the London Stock Exchange’s Alternative Investment Market. EGI is based in Eugene, Oregon.
Ablynx NV has announced that its private placement of shares was oversubscribed with the result that it raised €31.5 million by way of an accelerated bookbuilding procedure announced on 27 February.