Eli Lilly and Company Inc is enlisting the support of venture capitalists in the US and Europe to support its virtual drug development network that manages promising new molecules from candidate stage to clinical proof of concept.
Philogen SpA, an Italian biotech company that is developing advanced antibodies for cancer treatments, has become the first European biotechnology company to offer its shares to the public in 2011. The company is developing products for the treatment of angiogenesis-related disorders.
Data from a Phase 3 study of the Novartis candidate drug for pancreatic neuroendocrine tumours, everolimus, have been published in The New England Journal of Medicine.The data show that the drug extends progression-free survival, the company said.
Evotec AG has agreed to pay about €12 million for Kinaxo Biotechnologies GmbH, a Munich-based drug discovery company, which supports the development of targeted drugs.
Sanofi-Aventis SA lost more than €2 billion of sales due to generic competition in 2010. This, plus healthcare reform and government austerity, contributed to a 0.8% decline in group sales, at constant exchange rates, in 2010.
Data from a Phase 1 study of a new antimalarial drug candidate, a synthetic peroxide, have been reported in the Proceedings of the National Academy of Sciences. The compound was shown to be safe at doses of up to 1,600 mg.
Elan Corporation Plc was able to increase sales and strengthen its balance sheet in 2010 as the result of strong demand for its antibody treatment for multiple sclerosis, Tysabri (natalizumab).
Crucell NV, the Dutch developer of therapeutic and prophylactic vaccines that Johnson & Johnson is seeking to acquire, has reported a 2010 operating loss on write-downs relating to a manufacturing problem.
AstraZeneca Plc said it is stopping a Phase 3 trial of zibotentan, an endothelin-A receptor antagonist, as a monotherapy against non-metastatic castrate resistant prostate cancer. However a trial of the drug, with chemotherapy, will continue.
Cellnovo Ltd of the UK, the developer of a diabetes pump management system, has raised £30 million in a Series B financing round from a group of international investors led by Edmond de Rothschild Investment Partners of Paris, France.