DNA Therapeutics SA, a privately-owned French company with a novel method of weakening cancerous tumours, has obtained commitments for €2.2 million of A-round financing provided certain milestones are met.
Roche has announced plans to tender for all of the shares in Genentech Inc that it doesn’t already own at a price of $86.50 per share. The offer replaces an earlier offer of $89 per share that was rejected by a committee of independent directors advising Genentech on 13 August 2008. Roche said its new offer will be made directly to Genentech’s shareholders.
Pfizer Inc said that it has reached an agreement with Wyeth on a takeover valued at approximately $68 billion. The cash and stock transaction has been approved by the boards of directors of both companies. It will significantly enhance Pfizer’s pipeline in the areas of vaccines and biologics.
BioMedPartners, a Basel-based venture capital firm, has launched a new fund to invest in private, early to mid-stage medical companies called BioMedInvest II LP.
Cardio3 BioSciences SA, a privately-owned Belgian company, has raised €13.7 million to finance the clinical development of its second-generation cell therapy for the treatment of heart failure, C-Cure.
Aravis SA has announced the closing of a CHF 32 million Series B private financing for Synosia Therapeutics of Basel, Switzerland.
Shares of Crucell NV of the Netherlands jumped 35% on 8 January 2009 following the disclosure late the previous day that the company was in discussions with Wyeth about a merger. Shares of the Dutch vaccine maker rose to €15.6 on the Euronext stock exchange in Amsterdam from €11.58 a day earlier. Wyeth is reported by Bloomberg to be offering $1.35 billion for Crucell. Neither company has commented publicly about the price.
Novartis has agreed to pay $20 million upfront for the exclusive right to an investigational cytomegalovirus (CMV) vaccine which is being developed by the privately-held AlphaVax Inc of Research Triangle Park, North Carolina. The total value of the deal, which includes an optional equity investment, milestones and royalties, was not disclosed.
GlaxoSmithKline said that it has formed a strategic alliance to develop aptamer therapeutics with the privately-held US biopharmaceutical company, Archemix Corp. The deal is valued at up to $1.4 billion and will focus on developing products to treat inflammatory diseases such as rheumatoid arthritis and inflammatory bowel disease. It was announced on 23 December 2008.
MediGene AG of Germany has secured an equity funding agreement with YA Global Investments LP under which it can sell its shares over a three-year period for an amount of up to €25 million. It is the second European biotechnology company to conclude an equity deal with YA Global in less than a month.