SpePharm Holding BV, the umbrella organisation for a Paris-based company that sells specialised drugs to hospitals in Europe, has raised €26 million with a combination of equity financing and the sale of future revenues from a spasticity drug whose European rights it recently acquired.
The recently restructured Medical Marketing International Group Plc (MMI) has raised gross proceeds of £0.95 million in an institutional share placement designed to fund its oncology programmes.
York Pharma Plc, a specialist dermatology company, has completed its previously- announced £3.9 million share placement which is part of a larger fundraising to finance the purchase of two wound-care products from Belgium‘s Solvay Pharmaceuticals BV.
Shareholders of Genentech Inc initially looked like they would not accept Roche’s cash bid of $89 per share for all the shares of Genentech that it doesn’t already own. Following the takeover announcement on 21 July 2008, Genentech shares were trading above the bid price with an early quote at $93.50.
The German drug developer, 4SC AG, said that it has raised €29.45 million from existing and new shareholders in order to finance its acquisition of eight oncology projects from Nycomed, a privately-owned, Zurich-based pharmaceutical company. The capital increase was supported by Santo Holding (Deutschland) GmbH, which is 4SC’s largest shareholder.
Novartis said it will make a mandatory offer valued at CHF 907 million or the equivalent of $880 million for the share capital of Speedel Holding AG, which has developed a first-in-class renin inhibitor for reducing hypertension, Tekturna (aliskiren).
The AIM-listed company, ImmuPharma Plc, has raised an additional £1.07 million, net of expenses, for its drug development programme bringing the total raised from a recent private placement to £2.6 million.
Solvay Pharmaceuticals SA said that it expects to complete its takeover of Innogenetics NV in the second half of 2008 after beating off a rival bid for the Belgian diagnostics company from Gen-Probe Inc of San Diego, California.
SkyePharma Plc said it was unable to refinance its convertibles bonds, which can be called for early redemption over the next two years. The collapse of talks with shareholders, potential investors and bondholders led to a 21.5% decline in its share price to 4.30 pence.
The AIM-listed drug development company, ImmuPharma Plc, has raised £1.5 million, net of expenses, in a share placement with institutional investors that will enable it to finance early clinical development of its candidate cancer drug, IPP-204106.