Arpida and Evolva of Switzerland to merge
Arpida Ltd and Evolva SA have announced plans to merge to create a larger, publicly-listed biotechnology company with a pipeline of drug candidates as well as revenue-generating discovery partnerships.
Finance, Grants, Deals
ProFibrix raises €8 million in Series B round
ProFibrix BV of the Netherlands has raised €8 million in a Series B round enabling it to carry forward plans to seek FDA authorisation for a combined Phase 2/3 trial in the US of its candidate tissue sealant for use in surgery or trauma injury, Fibrocaps.
Bid to take Celsis International private becomes unconditional
An investor in Celsis International Plc is on the verge of success in acquiring the drug toxicity detection company whose shares are listed on the London Stock Exchange. The investor is North Atlantic Value LLP (NAVLLP), part of the JO Hambro Capital Management Group.
Algeta to receive $61 million upfront for cancer drug
Algeta ASA is to receive $61 million upfront from Bayer Schering Pharma AG in a deal worth up to $800 million to develop and commercialise a radiopharmaceutical for bone metastases in patients with hormone-refractory prostate cancer.
Norway supports Clavis with grant for pancreatic cancer trial
The Norwegian government has awarded Clavis Pharma ASA up to $1.1 million to accelerate its early clinical-stage treatment for pancreatic cancer, intravenous CP-4126. The grant was made by Innovation Norway, a state-owned company.
Santaris to receive $6.5 million for access to its locked nucleic acid drug platform
Santaris Pharma A/S is to receive $6.5 million upfront from Shire Plc for giving the UK company access to its locked nucleic acid (LNA) drug platform for identifying drug candidates against certain targets to treat rare genetic disorders.
Vernalis in $200 million oncology deal with GSK
Vernalis Plc said that it is entering an exclusive collaboration, option and licensing agreement with GlaxoSmithKline to research an undisclosed oncology target. The deal, including milestone payments, is valued at more than $200 million.
DiaGenic raises NOK 9.35 million in share placement
DiaGenic ASA said that it has raised NOK 9.35 million ($1.54 million) through the placement of 2.5 million new shares with investors at a price of NOK 3.74 per share. The placement coincides with its plans to launch two diagnostic products in Europe.
An investor in London-listed Celsis is taking the firm private
An investor in Celsis International Plc, which makes products to detect drug toxicity, is taking the company private with a bid for the shares it does not already own pitched at 14.3% over the closing share price on 31 July 2009.
RXi Pharmaceuticals to raise $8.3 million
A US company that is investigating therapeutics based on RNA interference (RNAi) has reached agreement with investors to raise $8.3 million in a public offering on Nasdaq. The company, RXi Pharmaceuticals Corp, went public in March 2008.