Paion AG has given further details of its new strategy for growth which will focus on developing and distributing specialised products in anaesthesia. This follows the sale of all remaining rights to desmoteplase, the candidate stroke product that was its lead asset.
H. Lundbeck A/S reported a slump in sales and a loss in the second quarter because of higher marketing costs, generic competition and a charge for dismissing personnel. However, the Danish company is renewing its portfolio to secure long-term growth.
A second experimental treatment for severe sepsis, a significant area of unmet medical need, has been discontinued following the failure of a proof-of-concept trail. AstraZeneca Plc has stopped development of AZD9773, an anti-TNF-alpha antibody fragment.
Evotec AG has confirmed plans to invest more than €10 million in new technology this year in order to expand the range of services it offers its pharmaceutical partners. The expansion in capacity is expected to be largely financed from cash generated from the business- leaving liquidity at year-end above €60 million.
Agennix AG is set to restructure after the surprise failure of a Phase 3 trial of its lead product for non-small cell lung cancer, talactoferrin alfa (talactoferrin). The trial did not meet its primary endpoint of improving overall survival, despite promising earlier data.
With the launch of its Japanese Encephalitis vaccine in India imminent, Intercell expects to report higher product sales in 2012 compared with a year earlier. However the company’s net loss for the year will probably be at the high end of €15 to €20 million.
Nanobiotix SA of France has secured a development partnership for its lead product, a nanoparticle device that is intended to enhance the efficacy of radiotherapy, with PharmaEngine Inc of Taiwan. The upfront payment is $1 million.
Johnson & Johnson Inc and Pfizer Inc have announced the termination of their jointly-run investigation of the drug, bapineuzumab, for patients with mild-to-moderate Alzheimer’s disease. This follows the failure of two Phase 3 studies.
Novartis has announced plans to invest in a new Center for Advanced Cellular Therapies at the University of Pennsylvania in the US to research immunotherapies for patients with cancer using chimeric antigen receptor (CAR) technologies.
Wilex AG has announced plans to raise approximately €17.3 million in cash, and to convert an existing loan into equity, ahead of a meeting with the FDA to discuss a further development strategy for its cancer diagnostic Redectane.