Finance, Grants, Deals

Lab21 Ltd, a diagnostic service provider, has announced the acquisition of Myconostica Ltd of the UK which develops molecular tests for the diagnosis of fungal infections. Financial terms weren’t disclosed.

Takeda Pharmaceutical Company Ltd is set to significantly increase its commercial presence in Europe with the planned acquisition of privately-owned Nycomed A/S of Switzerland. Under the agreed takeover, Takeda will pay €9.6 billion in cash to Nycomed’s shareholders who are members of a consortium of private equity funds led by Nordic Capital Private Equity Funds.

Curetis AG, a molecular diagnostics company specialising in the development of in-vitro diagnostic products for infectious diseases, has raised €4.5 million in an extension of a Series A financing, bringing the total for the round to €24.5 million.

A French company that specialises in biomarkers for cancer, Median Technologies, has raised €10 million in a private placement of its shares with institutional investors. The company is also planning an initial public offering on NYSE Euronext Paris.

4SC AG ended the 2011 first quarter with an operating loss of €4.8 million and cash and equivalents of €5.5 million. The German small-molecule developer said it is expecting final Phase 2 data this year from three important studies.

Elan Corporation Plc said that its drug formulation and manufacturing business, Elan Drug Technologies (EDT), is to merge with Alkermes Inc to create a new company with a portfolio of 25 marketed products and annual revenue of $450 million.

Rigel Pharmaceuticals Inc announced that Pfizer Inc is returning full rights to its early clinical-stage asthma programme, R343, as a result of Pfizer’s decision to exit from the allergy and respiratory therapeutic area in research and development.

Geron Corp. is set to receive $25 million from the California Institute for Regenerative Medicine to support the clinical work on its stem-cell therapy for spinal cord injury. The money is a loan with repayment contingent on product success.

Molecular Partners AG is set to receive $45 million upfront from Allergan Inc for the exclusive global rights to a therapeutic protein in Phase 2 development for the treatment of retinal diseases. The molecule targets VEGF-A.

Oxford BioMedica Plc, a developer of gene-based medicines and cancer vaccines, has expanded a licensing agreement with Pfizer Inc giving the US multinational non-exclusive rights to its antibody technology for diagnostic use.