Erytech Pharma SA, a France-based oncology company that is developing treatments to starve cancer cells of nutrients, has raised €24.5 million in a share placement with qualified investors in the US and Europe.
Sofinnova Partners, which was founded in 1972 as France’s first venture capital firm, has raised €300 million for its eighth life science fund bringing the total amount of money under management to €1.5 billion. Two thirds of the new funds will be invested in European companies.
Darmstadt, Germany-based Merck KGaA has dropped the candidate oncology drug evofosfamide following two Phase 3 studies that failed to show efficacy in patients with advanced soft tissue sarcoma and advanced pancreatic cancer.
Eli Lilly and Company is discontinuing development of the basal insulin peglispro (BIL), a candidate treatment for Type 1 and Type 2 diabetes, following increases in a key liver enzyme in patients enrolled in Phase 3 trials of the drug.
Pfizer Inc is to close its Neusentis research centre in Cambridge, UK where about 120 researchers carry out work on pain, sensory disorders, and regenerative medicine, the company confirmed in a statement on 3 December.
Publicly-listed Cytos Biotechnology Ltd has announced plans to merge with privately-owned Kuros Biosurgery Holding AG to create a new Switzerland-listed company that will be controlled by Kuros’ shareholders.
A UK spinout company, Kesios Therapeutics Ltd, has obtained £19 million in Series A financing to develop therapies targeting a complex that is downstream from a protein implicated in many cancers. The lead candidate is for multiple myeloma.
Santhera Pharmaceuticals Holding AG has raised CHF 54.8 million (€50.38 million) in a private placement of its shares with investors in Switzerland and abroad to advance its portfolio of specialty medicines led by a treatment for a rare eye disease.
Geneva, Switzerland-based ObsEva SA has raised CHF 60 million (€54.87 million) in a Series B financing round to advance its portfolio of products that treat reproductive problems in women ranging from preterm labour to endometriosis.
The US Food and Drug Administration (FDA) has rejected a new indication for Bristol-Myers Squibb’s checkpoint inhibitor Opdivo (nivolumab) saying that more data is required. The proposed indication is for BRAF V600 positive metastatic melanoma.