News

The checkpoint antibody Tecentriq (atezolizumab), when combined with Avastin, has shown  statistically significant and clinically meaningful improvements in overall survival and progression-free survival in patients with unresectable hepatocellular carcinoma, the most common type of primary liver cancer, Roche announced on 22 November. The Phase 3, 501-patient trial compared the combination therapy with sorafenib, the standard of care for advanced liver cancer.

London-based GHO Capital Partners LLP has closed its second healthcare fund, raising €975 million for investments across Europe – said to be the largest specialist private equity fund dedicated to European healthcare. The fund was oversubscribed, exceeding its target of €800 million, the company announced on 20 November.

The Roche group has staked out fibrotic disease as a growth area with the planned acquisition of Promedior Inc of Lexington, Massachusetts, US for up to $1.39 billion. Promedior has a product for idiopathic pulmonary fibrosis (IPF) poised to enter Phase 3 which has shown an ability to slow the decline of lung function in a randomised Phase 2 study of patients with the disease. The drug, PRM-151, is a recombinant form of the human pentraxin-2 protein, reportedly with a potential to treat a wide range of systemic fibrotic diseases.

Germany-based Affimed NV has closed its previously announced offering of shares on the US Nasdaq market following the full exercise by underwriters of their option to purchase additional stock. A total of 13.8 million shares were sold at $2.50 per share raising $34.5 million. The closing was announced on 13 November.

The first vaccine for the active immunisation of individuals at risk of infection from the Ebola virus has been cleared by the World Health Organization for procurement by the United Nations and included in a stockpile for use in countries affected by the disease. These countries include the Democratic Republic of Congo where a public health emergency has been declared by the WHO.

Buoyed by strong demand for its drug discovery services, Evotec SE expects both revenue and profit to increase by 15% this year while spending on research and development rises. In a conference call with analysts on 12 November, Werner Lanthaler, the chief executive, said the forecast reflected a strong order book extending well into 2020.

In the first nine months, revenue rose by 16% to €321.4 million and adjusted earnings before interest, taxes, depreciation and amortisations (EBITDA) was up by 36% at €93.2 million.

H. Lundbeck A/S ended the first nine months of 2019 with two acquisitions under its belt and an increase in revenue from four key medicines for neurological disorders. Total revenue for the period was DKK 12.6 billion (€1.7 billion) of which 53% was attributed to the four medicines. However group revenue was down by 9% from a year earlier due to loss of patent protection for Onfi, a treatment for Lennox-Gastaut syndrome. Onfi lost exclusivity in 2018 and sales of the product were DKK 840 million, a decline of 69%.

A new drug for anaemia in patients with beta thalassaemia, a rare blood disorder, has been approved for marketing in the US following clinical testing which showed that patients receiving the treatment needed fewer blood transfusions than those on a placebo. The drug, Reblozyl (luspatercept-aamt), was authorised by the Food and Drug Administration on 8 November.

Germany-based Affimed NV has priced its previously announced US offering of 12 million shares at $2.50 per common share. After deducting underwriting discounts, the net proceeds are expected to be about $28.2 million. The offering is expected to close on or about 13 November.

Based in Heidelberg, Affimed is a clinical-stage company with three ongoing trials in lymphoma. On 7 November, it announced US Food and Drug Administration approval for the start of a fourth trial in patients with advanced cancers expressing the epidermal growth factor receptor (EGFR).

A new UK-based company has been launched to explore the dark matter of the genome with the goal of identifying antigens for the development of off-the-shelf cancer vaccines and T cell receptor based immunotherapies. Ervaxx Ltd was founded on original research by scientists at the Francis Crick Institute in London and launched on 6 November with $17.5 million in seed and Series A funding from SV Health Investors and an undisclosed global pharmaceutical company.