4SC AG, which has a portfolio of products focused on autoimmune and cancer indications, has raised a gross €11.74 million in a private placement with institutional investors to finance its ongoing product development activities.
H. Lundbeck A/S achieved its forecasted growth in 2010 boosted by strong demand for products that treat central nervous system disorders. The Danish company expects revenue to increase by at least 3% in the current year.
MorphoSys AG expects to see another year of heavy investment in its proprietary antibody portfolio as the pace of early-clinical stage development quickens. In 2011, proprietary R&D spending is expected to rise by about 50%, the company announced.
Ablynx NV, which discovers and develops fragment antibodies as therapies, said revenue in 2010 increased by 6% to €31.4 million primarily driven by milestone payments from Boehringer Ingelheim, which amounted to €11 million.
Addex Pharmaceuticals Ltd of Switzerland narrowed its loss and conserved cash in 2010 while moving its two lead products for respectively, Parkinson’s disease levodopa-induced dyskinesia, and schizophrenia, ahead in the clinic.
Intercell AG, the Austrian vaccine developer, is raising €33 million with a three-year convertible note issue which gives its institutional investors considerable leverage possibilities. The company increased the private placement to meet demand.
The Roche Group has ended a licensing deal with Transgene SA relating to a clinical-stage therapeutic vaccine. This is the third case in less than three weeks in which a large pharmaceutical company has apparently precipitously cancelled a deal with a smaller biopharmaceutical company.
Wilex AG, which has advanced-stage products for the diagnosis and treatment of renal cell cancer, reported a net loss of €23.1 million for 2010 on zero sales revenue.
Johnson & Johnson Inc has declared its €24.75 per-share offer for Crucell NV, the Dutch developer of therapeutic and prophylactic vaccines, unconditional. Crucell will now operate as a vaccine centre within J&J. The two companies announced completion of the merger on 22 February 2011.
Fate Therapeutics Inc, the San Diego, California-based stem cell company, has announced the departure of its president and chief executive officer, Paul Grayson. Mr Grayson is leaving to form a new company, according to Fate.