Geron Corp. is set to receive $25 million from the California Institute for Regenerative Medicine to support the clinical work on its stem-cell therapy for spinal cord injury. The money is a loan with repayment contingent on product success.
Molecular Partners AG is set to receive $45 million upfront from Allergan Inc for the exclusive global rights to a therapeutic protein in Phase 2 development for the treatment of retinal diseases. The molecule targets VEGF-A.
H. Lundbeck A/S achieved 2011 first-quarter revenue of DKK 4,103 million (€550 million), up by 7% from a year earlier and an EBITDA operating profit of DKK 1,540 million, up by 4%. The company had an operating margin of 37.5%.
Oxford BioMedica Plc, a developer of gene-based medicines and cancer vaccines, has expanded a licensing agreement with Pfizer Inc giving the US multinational non-exclusive rights to its antibody technology for diagnostic use.
ProFibrix BV of the Netherlands, which is developing products to promote hemostasis after surgery, has completed a follow-on Series B financing with the support of new venture capital investors from Luxembourg and the Netherlands.
UCB SA has confirmed that revenue for 2011 should be in the range of €3 to €3.1 billion, or below the company’s 2010 revenue of €3.2 billion, as it makes the transition from a legacy portfolio to one anchored in new patent-protected products.
Ipsen SA, reported a 7.5% rise in group drug sales to €277.3 million in the first 2011 quarter. At constant exchanges rates the gain was 6.3%.
The US Food and Drug Administration has approved the proton pump inhibitor, Nexium (esomeprazole sodium), for use in children one month and older for the short-term treatment of gastroesophageal reflux disease, AstraZeneca announced.
The US Food and Drug Administration has announced the approval of a new drug for Type 2 diabetes, Tradjenta (linagliptin). The drug was developed by Boehringer Ingelheim which has a commercialisation deal for the drug with Eli Lilly.
Wilex AG is to receive $19 million upfront as part of a licensing deal with Prometheus Laboratories Inc giving the San Diego-based company exclusive US commercialisation rights to its cancer antibody, Rencarex (girentuximab).