Chroma Therapeutics Ltd is set to receive $5 million upfront from Cell Therapeutics Inc of Seattle, Washington has part of a co-development and licensing agreement for the candidate cancer drug, tosedostat. The drug is being tested in AML.
UCB SA of Belgium has completed the placement of €300 million in perpetual subordinated bonds as part of an ongoing effort to restructure its balance sheet. The new bonds will qualify as equity, the company said.
Galápagos NV, the Belgian drug discovery and development company, achieved a net profit of €4.4 million in 2010 compared with €3 million the previous year while increasing its spending on research and development by 41% to €84.7 million.
Intercell AG, the Austrian vaccine developer, made a restructuring and impairment charge in the 2010 fourth quarter of €182.8 million, mainly as the result of terminating a vaccine patch project in Phase 3 development.
Daiichi Sankyo Co Ltd has reached an agreement to acquire Plexxikon Inc of the US, which has a product for metastatic melanoma in Phase 3, along with a companion diagnostic. The Japanese company is offering $805 million for Plexxikon.
TiGenix NV of Belgium and Cellerix SA of Spain have agreed to merge creating what is expected to be the largest cell therapy and regenerative medicine company in Europe. It is the most significant corporate transaction in the field of regenerative medicine since the December 2010 alliance between Cephalon Inc and Mesoblast Ltd of Australia
4SC AG, which has a portfolio of products focused on autoimmune and cancer indications, has raised a gross €11.74 million in a private placement with institutional investors to finance its ongoing product development activities.
Intercell AG, the Austrian vaccine developer, is raising €33 million with a three-year convertible note issue which gives its institutional investors considerable leverage possibilities. The company increased the private placement to meet demand.
The Roche Group has ended a licensing deal with Transgene SA relating to a clinical-stage therapeutic vaccine. This is the third case in less than three weeks in which a large pharmaceutical company has apparently precipitously cancelled a deal with a smaller biopharmaceutical company.
Johnson & Johnson Inc has declared its €24.75 per-share offer for Crucell NV, the Dutch developer of therapeutic and prophylactic vaccines, unconditional. Crucell will now operate as a vaccine centre within J&J. The two companies announced completion of the merger on 22 February 2011.