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).
Auris Medical AG of Switzerland has secured CHF 47.1 million (38.7 million euro) in a Series C funding round led by Sofinnova Ventures of the US and Sofinnova Partners of Paris, France. The funding will support two inner ear therapies.
The US government has awarded Bavarian Nordic A/S of Denmark a new contract valued at up to $228 million for the continued supply of the smallpox vaccine Imvamune for the nation’s stockpile of strategic medicines.
Roche said that sales growth this year should be in line with the 4% increase reported in 2012 as demand for its oncology drugs remains strong. First quarter sales were up by 6% at constant exchange rates to CHF 11.6 billion (€9.54 billion).
GenSight Biologics, a privately-owned French company, has raised €32 million in a Series A round from a group of venture capital funds to develop a gene replacement therapy for Leber’s hereditary optic neuropathy (LHON), a serious eye disorder.