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.
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 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 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 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 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.
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.
Lundbeck A/S, which has a global franchise in drugs for the central nervous system, has acquired LifeHealth Ltd of the UK to increase its interest in the neurological drug, Xenazine (tetrabenazine), which was launched in the US in late 2008.
Novacta Biosystems Ltd, which is developing a class of naturally-derived antibiotics, will receive up to £13.1 million in equity financing for the development of its portfolio, provided certain undisclosed milestones are met.
Elan Corporation Plc has reached an agreement with Johnson & Johnson that will give the US multinational an 18.4% stake in the company as well as controlling interest in a new unit that will hold many of Elan’s assets in Alzheimer’s disease.