News

Johnson and Johnson is making an offer to acquire all the shares it doesn’t already own of Crucell NV for about €1.75 billion or at €24.75 per share. J&J currently owns 17.9% of Crucell.

Oxford Nanopore Technologies Ltd has strengthened its ties with Oxford University in the UK in order to explore new applications for its sequencing technology to the field of protein sensing.

The Food and Drug Administration has approved a new treatment for gout, Krystexxa (pegloticase), an enzyme that lowers uric acid levels by metabolising it into a harmless chemical excreted in urine. The developer is Savient Pharmaceuticals Inc.

Addex Pharmaceuticals Ltd has raised CHF 20 million (€15.4 million) through the issue of new, registered shares and zero coupon six-month, mandatory convertible notes to the Biotechnology Value Fund (BVF) LP of San Francisco, California

Genmab A/S, one of Europe’s oldest therapeutic antibody companies, has taken a new strategic direction with the decision, announced on 14 September 2010, to research antibody-drug conjugates with Seattle Genetics Inc of the US.

Genmab A/S has entered into a research collaboration with Seattle Genetics Inc to research and possibly co-develop monoclonal antibody conjugates for solid tumours. Financial details were not disclosed.

Evolva Holding SA reported a 21% increase in revenue in the 2010 first half, largely due to income from projects being carrying out for agencies of the US Department of Defense. The Switzerland-based company works in the area of synthetic biology.

The Pharming Group NV is set to receive $15 million upfront from Santarus Inc as part of a commercialisation deal for North America for Rhucin, its recombinant protein for hereditary angioedema. Pharming is planning an FDA filing soon.

The Zurich-based investment management firm, Nextech Invest Ltd has raised €26 million for its third fund, which invests in companies developing novel oncology products. This brings the total raised for oncology since 1999 to €121 million.

Novartis International AG said that the Russian health authority has approved its oral therapy for the treatment of relapsing, remitting multiple sclerosis, Gilenya (fingolimod). Earlier, Russia approved a competing MS drug from Merck Serono.