In another example of Big Pharma collaboration in the area of diabetes, Merck & Co Inc has announced plans to collaborate with Pfizer in the development and commercialisation of ertugliflozin, a Phase 3-ready diabetes drug in the SGLT2 class.
GlaxoSmithKline Plc has ended a collaboration with Impax Pharmaceuticals on a late-stage Parkinson’s disease drug, citing delays in the drug’s anticipated regulatory review and launch dates in countries where GSK has commercialisation rights.
Galápagos NV has raised €53.9 million in a private placement of its shares to institutional investors in the US and Europe. The proceeds will be used to fund its internal pipeline as well as to enable possible in-licensing deals.
A therapeutic vaccine for human papillomavirus (HPV) that is being developed by Genticel SA of France has received backing by a syndicate led by Wellington Partners, raising €18.2 million in new capital.
The German molecular diagnostics company, Curetis AG, has raised €12.5 million in a Series B round to further test and commercialise its technology for detecting antibiotic resistant bacteria. The round was led by HBM Partners of Switzerland.
The Board of Directors of Elan Corporation Plc has formally rejected an unsolicited takeover bid from the US investment group, Royalty Pharma, saying it substantially undervalues the company. This follows a low turnout in a share buyback.
The importance of next-generation gene sequencing technologies has been underscored once again with Thermo Fisher Scientific’s announcement of plans to acquire Life Technologies Corp for $13.6 billion.
Shareholders of Elan Corporation Plc appear to have rebuffed an unsolicited takeover bid from the US financial group, Royalty Pharma, which valued the Ireland-based company at up to $12 per share for a total enterprise value of up to $7.3 billion.
Allecra Therapeutics GmbH, a recent startup company that intends to develop two treatments to overcome multi-resistant, gram-negative bacteria, has raised €15 million in a series A financing from Edmond de Rothschild Investment Partners, Forbion Capital Partners and EMBL Ventures.
Auris Medical AG of Switzerland has secured CHF 47.1 million (38.7 million euro) in a Series C funding round led by Sofinnova Ventures of the US and Sofinnova Partners of Paris, France. The funding will support two inner ear therapies.