Shield Therapeutics Plc has raised £32.5 million in an initial public offering of shares on the AIM market of the London Stock Exchange in the wake of a positive opinion from the European Medicines Agency for its drug for iron deficiency anaemia.
Shire Plc, the acquisition-oriented specialty pharma company, reported a 6.6% rise in revenue to $6.4 billion for 2015 and a 16.4% decline in operating profit to $1.4 billion using US GAAP. On a non-GAAP basis it reported an 11% rise in both revenue and operating income.
H. Lundbeck A/S, the Danish specialist in brain diseases, said the worst is over after reporting an operating loss of DKK 6.8 billion (€910 million) for 2015, reflecting the cost of a major restructuring programme and a reclassification of certain product rights.
The European Medicines Agency has set up a committee of experts with specialised knowledge of vaccines and infectious disease to contribute to the global response to Zika virus infection. Although not new, the virus has spread to Brazil where cases of neurological disorders have been reported.
The European Medicines Agency has given a positive opinion to a new immune-stimulating therapy for multiple myeloma using an accelerated procedure that is reserved for medicines addressing a major public health need.
Sanofi SA reported a 9% increase in net sales to €34.5 billion for 2015 but its operating income slid by 7.3% to €5.6 billion because of a rise in all major expenses. The net sales figure excludes revenue from animal health products, which are set to be sold to Boehringer Ingelheim GmbH.
Imperial Innovations Group Plc has led a £5 million Series A funding round for the Cambridge University spin-out Aqdot Ltd, a specialist chemical company that has developed a chemical encapsulation technology for use in consumer products.
Greatbatch Inc and Aleva Neurotherapeutics SA of Switzerland are to collaborate on a new device for deep brain stimulation (DBS) for treating Parkinson’s disease and essential tremor. Simultaneously the US company is to lead a Series C financing round for Aleva.
Ever since the collapse of British Biotech more than a decade ago, the UK life science sector has been in the doldrums. However, the mood has shifted in the past 18 months as money has started to flow back into the sector.
Index Ventures, which started as a small Swiss venture capital company in 1996 with a pilot fund of $17 million and grew into a global growth investor with nearly $6 billion under management, is splitting off its life science business from the rest of the company into an independent organisation that has been incorporated as Medicxi Ventures (UK) LLP.