Heptares Therapeutics Ltd, a 2007 spin-out of the UK Medical Research Council’s Laboratory of Molecular Biology, has raised £21 million in a Series A financing round from three venture capital firms.
GPC Biotech AG has entered into a merger agreement with the privately-held developer of cancer drugs, Agennix Inc of Houston, Texas.
Opsona Therapeutics Ltd, an Irish medical discovery company that targets the innate immune system as a way of treating autoimmune and inflammatory diseases, has raised €18 million in a Series B financing provided by the Novartis Venture Fund, Fountain Healthcare Partners, Inventages Venture Capital and Seroba Kernel Life Sciences.
The German molecular diagnostics company, Epigenomics AG, has raised €5.18 million in a share placement with two of its existing institutional investors. The proceeds will be used to finish the development and commercialisation of its most advanced product, a blood-based molecular diagnostic test for the early detection of colorectal cancer.
H. Lundbeck A/S of Denmark will substantially broaden its pipeline of central nervous system (CNS) products following the acquisition of the US-based specialty pharmaceutical company, Ovation Pharmaceuticals, Inc.
The all-cash acquisition, which is valued at up to $900 million, was announced on 9 February 2009. It is expected to close in March.
Celtic Pharma Holdings Advisors LLP (CPHA) has picked a diagnostic devices company for the first investment of its new fund, Celtic Pharma Holdings II LP (CP2).
The Bill & Melinda Gates Foundation is to spend $34 million over 11 years on programmes to reduce the spread of tropical diseases in the poorest countries of the world. The funding was announced on 30 January 2009, and follows an announcement by Mr Gates that the foundation will significantly increase spending in 2009 on a range of projects, including biomedical research and healthcare.
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.