The European Commission and the pharmaceutical industry have committed €223.7 million to research new antibiotic medicines in the first of several projects to be carried under the Innovative Medicines Initiative (IMI).
A Phase 3 trial of Nexavar (sorafenib) in patients with advanced, relapsed non-small cell lung cancer has failed to meet its primary endpoint of improving overall survival, according to Bayer HealthCare Pharmaceuticals and Onyx Pharmaceuticals Inc.
BTG Plc has exceeded a forecast issued as recently as April and reported revenue of £197 million for the year ended 31 March, up by 77% a year earlier. Revenue was boosted by strong sales of the antibody- fragment treatments, CroFab and DigiFab.
GlaxoSmithKline Plc has told shareholders of Human Genome Sciences that its $13 per share cash offer represents “full and fair value” for the company. The tender will close on 7 June. The HGS board has recommended against the offer.
Ablynx NV presented an upbeat report for the first quarter with seven nanobody programmes in clinical development, sharply higher revenue and a cash-flow surplus.
Cytos Biotechnolgy AG has completed a major portion of a planned CHF 37 million (€30.8 million) equity and debt financing that will give it the resources to conduct a global, multi-centre Phase 2b study of its lead asthma product, CYT003.
GlaxoSmithKline Plc has announced an agreement to fully acquire Cellzome, a specialist in proteomics technology, for £61 million in cash. GSK currently owns 19.98% of the company which is based in Cambridge, UK and Heidelberg, Germany.
H. Lundbeck A/S said that top-line results from three recently completed Phase 3 trials of its investigational drug for major depressive disorder, Lu AA21004, showed statistically significant reductions in depression symptoms in patients.
Intercell AG has completed a private placement of its shares, raising €15.2 million from the institutional investor BB Biotech, from Novartis, and from a number of other unidentified healthcare investors. The shares were placed at €2.30 per share.
F-Star GmbH, an antibody discovery company, has changed its top management and expanded its operations in Cambridge, UK in preparation for the advance of its bispecific antibody platform to the clinic. CEO Kevin FitzGerald is stepping down.