Scientists from the University of Cambridge and Edinburgh University have reported identifying several genes which appear to be active in the natural repair of myelin, the protective sheath around nerve cells which is damaged in multiple sclerosis.
Scientists at Children’s Hospital in Boston, Massachusetts have reported being able to promote optic nerve regeneration in an animal by activating two molecular pathways synergistically. Separately, the pathways have a less pronounced effect.
SkyePharma Plc has updated investors on the company’s financial outlook as preparations continue for a potential launch of its asthma product, Flutiform. Revenues in 2010 are expected to show a modest increase from a year earlier.
ThromboGenics NV of Belgium has succeeded in raising €56 million through a private placement of its shares, well above the targeted amount of €35 million. A total of 2,944,523 new shares were placed with domestic and international investors.
Medivir AB of Sweden, which is a research-based speciality pharmaceutical company, has raised SEK 280 million (€30.8 million) in a private placement of its shares, more than two thirds of which were placed with institutional investors.
ThromboGenics NV of Belgium has launched a private placement of new ordinary shares with the goal of raising €35 million to support its lead product for retinal disease and other corporate purposes.
Merck & Co has announced plans to acquire a private US company that has developed a new insulin formulation for the treatment of diabetes mellitus. The transaction is valued at in excess of $500 million assuming milestones are met.
A US Food and Drug Administration advisory panel has voted not to recommend an expanded indication for the prostate cancer drug, dutasteride. The sponsor, GlaxoSmithKline, is seeking to have it approved for prostate cancer risk reduction.
The US Food and Drug Administration has issued a complete response letter for ezogabine, an investigational anti-epileptic drug, saying it cannot accept the application for marketing. GSK and Valeant Pharmaceuticals are the sponsors.
Antibiotic projects aimed at tackling multi-drug resistant bacteria are among the novel programmes to have received funding from government institutions and venture capitalists in Europe recently. The following article summarises this seed funding, as well as financing for later-stage biotechnology projects.