Are venture capitalists getting better terms from their portfolio sales to Big Pharma or is it the other way around? In a lively discussion about the state of the biotech industry, panelists from the world of venture capital and industry said the relationship between the two parties can be prickly at times. But both sides need one another. The discussion took place at the annual Bio-Spring meeting in Barcelona Spain on 11 March 2013.
Zealand Pharma A/S of Denmark has announced the departure of its chief scientific officer, Christian Grøndahl, who is leaving the company to pursue other interests. Dr Grøndahl joined the company in 2010 and was appointed CSO on 3 January 2011.
Mesoblast Ltd of Australia has raised A$170 million (€136.3 million) in a private placement of its shares with existing and new investors including M&G Investment Management and Capital Research. The monies will fund the company’s cell therapies.
Shire Plc has expanded its portfolio of potential medicines for rare diseases with the acquisition of the privately-held Swedish company, Premacure AB, of Uppsala. The key asset is a protein replacement therapy for the prevention of retinopathy of prematurity.
Auditors for Germany’s 4SC AG have declared that the company has cash to support its activities into the third quarter of 2014. Nevertheless shareholders will be told at an upcoming meeting that losses now amount to half of the company’s share capital.
Milestone payments from partners and a strong performance of its service business boosted revenue at Galápagos NV in 2012 and dramatically reduced its loss for the year. Cash on 31 December was €94.7 million.
Just eight months after securing £17 million in new equity, Cell Medica Ltd has expanded its management team to appoint a chief medical officer, a chief financial officer and a vice president of development all of whom will be based in the US.
A new UK start-up based on technology from King’s College London has received funding from Advent Venture Partners. CoCo Therapeutics Ltd will progress an approach for Alzheimer’s disease that involves the retinoic acid receptor, RAR-alpha.
A US medical technology company, Electrical Geodesics Inc (EGI), has announced plans to raise funds and seek admission to the London Stock Exchange’s Alternative Investment Market. EGI is based in Eugene, Oregon.
Ulrich Dauer, a co-founder and the current chief executive and chair of the management board of 4SC AG, will be stepping down from his positions effective 31 March. Announcing the move on 6 March, the German company cited “personal reasons.”