OxThera AB, a privately-held Stockholm-based biotechnology company, has raised SEK 70 million (€7.5 million) to finance clinical development of Oxabact, a treatment for primary hyperoxaluria (PH), a genetic disorder that can lead to kidney failure.
BioAlliance Pharma SA of France has reached an agreement with Topotarget A/S of Denmark to merge, enabling the companies to jointly exploit their oncology portfolios. Shareholders of BioAlliance will hold about two-thirds of the merged company.
Wilson Therapeutics AB, a one-product company created by a Swedish venture capital company, has raised $40 million in a Series B round led by an international syndicate of venture funds.
The US Food and Drug Administration has approved the second tablet therapy to treat hay fever in less than a month – this time an immunotherapy developed by ALK-Abelló A/S of Denmark, in partnership with Merck & Co Inc.
The US Food and Drug Administration has approved Tanzeum (albiglutide), a glucagon-like peptide-1 (GLP-1) receptor agonist from GlaxoSmithKline Plc for Type 2 diabetes. The approval comes with a requirement for post-marketing studies.
The Roche group expects that core earnings per share will grow faster than sales this year as management continues to drive efficiency across the company. In the first quarter group sales increased by 5% at constant exchange rates, but were down by 1% in Swiss francs.
AAVLife SA, a French start-up company that is using an adeno-associated virus vector to deliver a new gene therapy, has raised $12 million in a series A equity placement led by Versant Ventures Management LLC of Menlo Park, California.
Cytos Biotechnology AG of Switzerland said that its Phase 2b study of a new compound for moderate to severe allergic asthma failed to meet its primary endpoint of a statistically significant reduction in an asthma rating test, and the trial is being stopped.
Spinifex Pharmaceuticals Pty, an Australian developer of chronic pain treatments, has raised US $45 million in a Series C financing round from venture capitalists led by Novo A/S of Denmark and the new investor, Canaan Partners of Menlo Park in California.
In keeping with its role in mapping the human genome more than a decade ago, the Wellcome Trust Sanger Institute is helping organise another large data project – this time with the goal of identifying protein targets for new drugs. Together with the European Bioinformatics Institute and GlaxoSmithKline Plc, the Trust is setting up a new Centre for Therapeutic Target Validation in the UK to collect data relevant to disease.