A new German company with a pipeline of early central nervous system assets and a phosphodiesterase enzyme inhibitor platform, has been spun out of Biotie Therapies Corp of Finland. Called Biocrea GmbH, it has start-up capital of €4.8 million.
Wilex AG as become the latest company to invest in antibody-drug conjugate technology with the proposed acquisition of Heidelberg Pharma AG, a privately-held German company with a conjugate platform.
GlaxoSmithKline Plc is to pay approximately $60 million upfront for a licensing agreement and equity investment in the US-listed biopharmaceutical company, Amicus Therapeutics Inc, which is developing a product for Fabry disease.
Despite revenue and profit declines in the 2010 third quarter, AstraZeneca Plc has confirmed that core earnings per share for the year as a whole should show an increase from 2009. Restructuring and legal costs depressed the Q3 results.
The UK drug-device company, Biocompatibles International Plc, is in advanced talks with another party which may or may not lead to an offer being made for the company. The talks were disclosed on 28 October to the London Stock Exchange.
Index Ventures, the Geneva-based venture capital company, is providing the initial funding of €1.5 million for a company that has been set up to exploit a new technology for treating serious brain diseases.
Boehringer Ingelheim GmbH has announced plans to invest $60 million over three years in bispecific antibody technology which has been developed by the US, venture capital-backed biotechnology company, MacroGenics Inc.
H. Lundbeck A/S has signalled its confidence in the experimental stroke treatment, desmoteplase, by increasing the size of two ongoing Phase 3 trials of the drug and committing money to the development of possible second-generation compounds.
Cerenis Therapeutics SA has raised an additional €10 million in the second closing of a Series C round to support its portfolio of therapies to treat cardiovascular and metabolic diseases. This brings total funds raised in the C round to €50 million.
Sygnis Pharma AG has announced a three-for-one reverse split of its shares in a move that will allow the German biotech company to resume equity financing.