Corporate venture capitalists increasingly are looking for early biotech investment opportunities that will support the strategic objectives of their parent companies. And they are reserving funds to support these companies until the assets in question mature. This was one conclusion from a panel discussion among venture capitalists that took place at the Sachs Investor Forum in Zurich, Switzerland on 13 September 2011.
Silence Therapeutics Plc stoutly defended the virtues of RNA interference in presenting its first half-year results and announcing the completion of its management reorganization and downsizing.
Vernalis Plc said it has achieved a research milestone in its drug discovery collaboration with H. Lundbeck A/S, triggering a payment of £0.3 million. The UK company is identifying candidate compounds targeting the kinase, LRRK2.
Merck Serono has taken steps to expand its franchise in multiple sclerosis by acquiring exclusive rights to an experimental drug described as a second-generation peptide copolymer. Teva Pharmaceuticals’ Copaxone is also a peptide copolymer.
GE Healthcare has announced plans to allocate $1 billion over five years to expand its diagnostic and imaging capabilities in oncology as well as to improve its manufacturing technologies. This will include new spending on biomarkers.
A service provider for the life science industry, Horizon Discovery Ltd, has completed the second closing of a Series C funding round, raising a total of £11.3 million via a private share placement. The round was led by MVM Life Sciences.
Oxford BioTherapeutics Ltd has formed a collaboration with Seattle Genetics Inc to jointly discover antibody-drug conjugates (ADC) for cancer. ADCs are antibodies attached by a linker to a cytotoxic drug and designed to kill cancer cells.
Newron Pharmaceuticals SpA is strengthening its ties with Merck Serono as the two companies seek to validate two new CNS compounds. The expanded collaboration was highlighted in Newron’s financial report for the 2011 first half.
.AM-Pharma BV of the Netherlands has raised €29.2 million under adverse financing conditions. The proceeds will allow it to test a recombinant form of alkaline phosphatase in patients with acute kidney injury (AKI) up to the completion of phase 2.
Celtic Pharma Holdings, a global private equity group, has launched a new company that will manufacture, register and commercialise products from the companies in its investment portfolio.