Celgene Corp said it has reached agreement to acquire venture-capital backed Avila Therapeutics Inc for $350 million in cash, plus milestones, thereby strengthening its position in the area of haematologic cancers.
A UK start-up, CN Creative Ltd, which has developed an electronic smoking cessation device, has raised £2 million in a Series A round led by Advent Life Sciences. The money will support final development of its novel inhaler product.
The Roche group has stepped up its commitment to personalised medicine with the announcement of a hostile $5.7 billion bid for Illumina Inc of the US, a leading provider of molecular diagnostics. The all-cash offer values each share at $44.50.
Privately-owned Prosensa Therapeutics BV of the Netherlands has raised €23 million to support its pipeline which includes a Phase 3 RNA-modulating therapeutic for Duchenne muscular dystrophy. New Enterprise Associates Inc led the financing.
Clavis Pharma ASA has announced a delay in the start of a Phase 3 study of its new treatment for acute myeloid leukaemia (AML). Separately, the Norwegian oncology company said it has raised NOK 163 in a private share placement with investors.
Evotec AG has announced a second strategic alliance with Harvard University, this time to discover and develop biomarkers and treatments for kidney disease. This follows an earlier deal to develop diabetes therapies targeting beta cell regeneration.
Vernalis Plc has announced the start of a new three-year collaboration with the privately-owned French company, Les Laboratoires Servier, to discover potential oncology drugs using a new, undisclosed target. Financial terms were not disclosed.
Sanofi SA and two US venture capital companies have reached an agreement to create a new biotechnology company that will use proprietary genomic technology to discover drugs from natural substances that are hidden within micro-organisms.
Qiagen NV, the Netherlands-based holding company for the German diagnostics company of the same name, has announced agreements with two US companies for rights to biomarkers that are expected to play a role in the treatment of cancer.
KalVista Pharmaceuticals Ltd, a new UK ophthalmology company, is set to receive up to $2.2 million in milestone-based support from the Juvenile Diabetes Research Foundation (JDRF) to finance a pre-clinical drug to treat diabetic macula edema.