GlaxoSmithKline Plc said it expects sales to grow by around 1% at constant exchange rates this year, despite a first-quarter outturn in which both turnover and operating profit declined. The quarterly performance was affected by one-off developments including the divestment of the group’s non-core over-the-counter medicines.
A therapeutic vaccine for human papillomavirus (HPV) that is being developed by Genticel SA of France has received backing by a syndicate led by Wellington Partners, raising €18.2 million in new capital.
Scientists at The Scripps Research Institute in La Jolla, California have discovered an antibody that can trigger the transformation of bone marrow stem cells directly into brain cells – something that reportedly has not been done before.
TiGenix NV has reported that a Phase 2a study of its allogeneic stem cell therapy in patients with refractory rheumatoid arthritis had positive six-month safety data. The trial enrolled patients who had failed to respond to at least two biologic therapies.
The German molecular diagnostics company, Curetis AG, has raised €12.5 million in a Series B round to further test and commercialise its technology for detecting antibiotic resistant bacteria. The round was led by HBM Partners of Switzerland.
The Board of Directors of Elan Corporation Plc has formally rejected an unsolicited takeover bid from the US investment group, Royalty Pharma, saying it substantially undervalues the company. This follows a low turnout in a share buyback.
The importance of next-generation gene sequencing technologies has been underscored once again with Thermo Fisher Scientific’s announcement of plans to acquire Life Technologies Corp for $13.6 billion.
Shareholders of Elan Corporation Plc appear to have rebuffed an unsolicited takeover bid from the US financial group, Royalty Pharma, which valued the Ireland-based company at up to $12 per share for a total enterprise value of up to $7.3 billion.
Allecra Therapeutics GmbH, a recent startup company that intends to develop two treatments to overcome multi-resistant, gram-negative bacteria, has raised €15 million in a series A financing from Edmond de Rothschild Investment Partners, Forbion Capital Partners and EMBL Ventures.
The workload of the European Medicines Agency increased in many areas during 2012 but notable was an increase in services to small and medium-sized enterprises (SMEs).