News

MorphoSys AG plans to increase spending on research and development this year as two of its proprietary antibody drugs approach clinical proof of concept, and two earlier compounds prepare for their first human trials.

A new France-based company has been launched to exploit peptide technology developed by scientists from the University of Strasbourg and the French Institute of Health and Medical Research (Inserm) in order develop drugs for oncology and immune disorders.

NeuroVive Pharmaceutical AB, a Swedish biotech specialising in mitochondria protection, is planning to raise SEK 94.4 million (€10.14 million) to finance completion of two Phase 2 studies for its kidney and brain injury compounds.

Sobi, whose full name is Swedish Orphan Biovitrum AB, reported a 24% increase in revenue to SEK 3.2 billion for 2015 and expects a revenue gain averaging 36% in 2016.

UCB SA, the Belgian specialty pharmaceutical company, reported a 16% increase in revenue to about €3.9 billion in 2015. If exchange-rate effects were eliminated, the revenue increase would come to 9.0%

Ablynx NV, a developer of antibody fragments originating in llamas, reported a 57% increase in revenue to €77.5 million for 2015 but its operating loss was 5% higher at €17 million

A project aimed at improving the properties of adeno-associated viral (AAV) vectors for use in gene therapy has been launched in the UK by Cobra Biologics Ltd, a contract research group, and the Center for Process Innovation, a UK government funded entity.

Privately-owned Akarna Therapeutics Ltd has raised $15 million in a Series B financing round to advance a preclinical drug for non-alcoholic steatohepatitis (NASH), a fatty-liver disease that is associated with both diabetes and obesity.

Sweden-based Redwood Pharma AB has raised SEK 6.6 million (€710,000) in a private equity placement to fund the development of a new hydrogel product for chronic dry eye disease in post-menopausal women.

UK-based Oxford BioMedica Plc is raising £8.1 million with a fully underwritten share placement to finance the expansion of its lentiviral vector manufacturing capacity and advance the clinical development of its gene therapy portfolio.