AstraZeneca Plc is to pay up to $1.15 billion to acquire privately-held Pearl Therapeutics Inc of the US which has a Phase 3 product in development for chronic obstructive pulmonary disease, as well as inhaler and formulation technology with potential application in future combination products.
The European Medicines Agency (EMA) and health technology experts in Europe have extended a collaboration under which they are examining ways to bridge the gap between how drugs are approved for marketing, and later assessed for reimbursement.
AstraZeneca Plc has said it will not seek to register fostamatinib, a spleen tyrosine kinase (Syk) inhibitor for rheumatoid arthritis, following disappointing results from a Phase 3 programme. It will return rights to its partner, Rigel Pharmaceuticals Inc.
Cardio3 BioSciences SA of Belgium has announced plans to raise new funds through an initial public offering of its shares on the NYSE Euronext exchanges in both Brussels and Paris. The company has a cell therapy for heart repair in Phase 3.
The Institute of Metabolic Science in Cambridge UK is set to receive £24 million from the Wellcome Trust and the Medical Research Council to expand its work in metabolic disease and investigate the causes and consequences of obesity.
MorphoSys AG has successfully outlicensed its first proprietary antibody, MOR103 for rheumatoid arthritis, to GlaxoSmithKline Plc in a deal potentially valued at €445.5 million. The German company is set to receive an upfront payment of €22.5 million.
Horizon Discovery Ltd has announced the final closing of its Series C funding round with share placements valued at £6.9 million. The total sum raised in the round is £18.2 million which will be used to advance its research tools including cell lines.
Bharatt Chowrira, the chief executive of Addex Therapeutics Ltd since August 2011, has stepped down from his position as the company takes steps to further reduce costs and seek financial support for its allosteric modulation drug platform.
Six new medicines have been recommended for marketing in Europe by the European Medicines Agency, including a new treatment for patients with multiple myeloma, a rare and incurable cancer of the bone marrow.
The ReNeuron Group Plc said it expects to seek final regulatory and ethical approvals in early July to start a Phase 2 study of its stem cell treatment for patients disabled by a stroke.