From time to time, venture capital firms have been able to assemble disparate pharmaceutical assets and find the right talent to develop them into a valuable property. However, it looks as if biotechs have started to do something similar by using their widespread contacts and alliances to investigate the causes of disease.
GlaxoSmithKline Plc has announced the expansion of a collaboration with Amicus Therapeutics Inc aimed at developing and commercialising a new treatment for Fabry disease. Under the deal GSK will raise its stake in Amicus to 19.9%.
Convergence Pharmaceuticals Ltd is making plans to advance a second small molecule drug for neuropathic pain into Phase 2 following a successful first-in-man trial. The compound, CNV2197944, is a calcium channel blocker.
Domain Therapeutics SA of France has raised €2 million in funding from new and existing investors in order to finance its move from contract manufacturing to therapeutic drug development in the area of G-Protein Coupled Receptors (GPCRs)
The European Commission has released its long-awaited revisions to the EU Clinical Trials Directive recommending that the procedures for getting approval for multi-state clinical trials be simplified and the supervision of trials strengthened.
The US Food and Drug Administration has approved a new use for the Gilead Sciences, Inc antiretroviral drug, Truvada (emtricitabine and tenofovir disoproxil fumarate), for use in individuals who are at high risk of HIV infection.
GlaxoSmithKline Plc has reached agreement to acquire Human Genome Sciences Inc following an increase in its per share offer to $14.25, up from $13 per share.
David Brennan has decided to waive a bonus payment for 2012 following his decision to retire as chief executive of AstraZeneca Plc effective 1 June. He did, however, receive a lump sum payment in lieu of his contractual notice, according to the company.
Edmond de Rothschild Investment Partners has launched a new fund to invest in life science companies in France and in Europe. Called BioDiscovery 4, the fund raised €125 million at its first closing. It is expected to achieve €200 million by year end.
Some 300 clinical trials are underway in Europe testing prospective cell, gene and tissue-engineered therapies. Known as advanced therapy medicinal products (ATMPs), these medicines are being investigated for a broad range of diseases- from macular degeneration to Parkinson’s disease.