Evotec AG has entered into a licensing agreement with the AstraZeneca Plc subsidiary, MedImmune, to generate biological factors that play a role in beta cell regeneration. The deal includes a €5 million upfront payment to Evotec.
The management of Genzyme Corp has again asked shareholders to reject an all-cash $69 per-share-offer from Sanofi-Aventis SA saying that it substantially undervalues the company. Sanofi has extended its offer for Genzyme until 21 January 2011.
Merck & Co Inc is making a public offering of $2 billion in senior unsecured notes in order to support general corporate operations. The offering consists of $850 million of 2.25% notes due in 2016 and $1.15 billion of 3.875% notes due in 2021.
Johnson & Johnson Inc has launched its recommended offer for Crucell NV at €24.75 per share for all of the shares it does not already own. The price is the same as that announced on 17 September, 2010 when the offer was first disclosed.
Imperial Innovations Group Plc is proposing to raise £140 million in a rights and convertible share issue in order to invest in companies founded by, or based on, the technology of the Universities of Oxford, Cambridge and University College London.
SkyePharma Plc has updated investors on the company’s financial outlook as preparations continue for a potential launch of its asthma product, Flutiform. Revenues in 2010 are expected to show a modest increase from a year earlier.
ThromboGenics NV of Belgium has succeeded in raising €56 million through a private placement of its shares, well above the targeted amount of €35 million. A total of 2,944,523 new shares were placed with domestic and international investors.
Medivir AB of Sweden, which is a research-based speciality pharmaceutical company, has raised SEK 280 million (€30.8 million) in a private placement of its shares, more than two thirds of which were placed with institutional investors.
ThromboGenics NV of Belgium has launched a private placement of new ordinary shares with the goal of raising €35 million to support its lead product for retinal disease and other corporate purposes.
Merck & Co has announced plans to acquire a private US company that has developed a new insulin formulation for the treatment of diabetes mellitus. The transaction is valued at in excess of $500 million assuming milestones are met.