A decision by the US Food and Drug Administration to allow non-prescription use of an emergency contraceptive for all women of child-bearing age has been overruled by Secretary of Health and Human Services, a political appointee.
Agennix AG, which has a late-stage product for non-small cell lung cancer and severe sepsis in development, has completed a €27.5 million rights issue with participation from existing shareholders. The issue will secure the company’s operations into 2013.
Forbion Capital Partners has raised $50 million for a second co-investment fund whose purpose is to invest in several portfolio companies that are close to an exit. The firm’s first co-investment fund closed in 2010 with commitments of €54 million.
Privately-owned Molecular Partners AG of Switzerland has expanded its relationship with Johnson & Johnson Inc with an agreement to research potential products for a number of immunological diseases using its protein technology.
The UK speciality pharmaceutical group, Sinclair IS Pharma Plc, is to pay £21 million to acquire Advanced Bio-Technologies Inc, giving it full rights outside the US to the topical silicone gel product, Kelo-cote, for scar reduction.
AstraZeneca said it intends to reduce its US sales force by 1,150 or 24% by early February 2012 as part of the company’s ongoing strategy to operate the business more efficiently.
Early-stage life science projects received another boost on Wednesday with the launch of a new technology fund by the venture capital arm of the European Molecular Biology Laboratory (EMBL). The new fund, EMBL Technology Fund II, has raised €40 million in a first closing.
Topotarget A/S of Denmark has announced plans to reduce its staff and stop development of early compounds in order to focus its resources on belinostat, its late-stage histone deacetylase (HDAC) inhibitor for peripheral T-cell lymphoma.
Zealand Pharma A/S said that the latest clinical data for its prospective type 2 diabetes treatment, lixisenatide (Lyxumia) in combination with long-acting insulin, showed a significant reduction in plasma glucose concentrations (HbA1c).
A new UK start-up company, TopiVert, is set to receive £8 million in venture capital from the Imperial Innovations Group Plc and SV Life Sciences. TopiVert will develop topical drugs for inflammatory diseases of the eye and gut.