The Swiss molecular diagnostics company, Biocartis SA, has raised €71 million in a Series C round to support the development of its products including an integrated diagnostic that is expected to be launched in 2013.
Oxyrane UK Ltd has raised $26.5 million in a Series D financing to support the development of its enzyme replacement therapies for lysosomal storage diseases. The round was led by Morningside and joined by Forbion Capital Partners.
The European Medicines Agency has recommended the suspension of all medicines containing buflomedil, a vasoactive agent, which are used to treat the symptoms of chronic peripheral arterial occlusive disease. They have been on the market since the 1970s.
The Pharming Group NV, which is starting to receive income from the rollout in Europe of its recombinant C1 inhibitor for hereditary angioedema (HAE), reported revenue and income from continuing operations of €2.3 million for the first nine months of 2011.
The US Food and Drug Administration has approved Jakafi (ruxolitinib) for myelofibrosis. The drug is a JAK inhibitor which is designed to block the JAK1 and 2 enzymes which are involved in regulating blood and immunological functioning.
Bavarian Nordic A/S, which develops vaccines for cancer and infectious diseases, reported a large pick-up in third quarter revenue and said it will reach its full-year target of about DKK 500 million (€67.2 million). For the year, it expects a pretax loss of DKK 350 million.
Geron Corporation, which launched the first human study of an embryonic stem cell therapy in the west, has decided to leave the stem cell field citing the unfavourable financial environment. It is stopping its trial in patients with spinal cord injury.
The US government is to co-fund a four-year vaccine research project that involves technology from three European companies including that from CureVac GmbH which has developed a technology for messenger RNA vaccines.
A sealant that has been developed to stop bleeding during and after surgery has met its primary endpoint in a Phase 2 trial of patients undergoing liver resection surgery, according to the developer, ProFibrix BV of the Netherlands.
SkyePharma Plc is continuing with plans to launch the asthma treatment, Flutiform, in Europe assuming approval is forthcoming from European Union member states which are reviewing the product under the decentralised procedure.