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.
Galápagos NV is set to acquire GlaxoSmithKline’s Zagreb, Croatia-based research site as well as provide research and development services to the UK multinational in a three-year fee-for-service contract.
Addex Pharmaceuticals Ltd of Switzerland has been awarded a $900,000 grant from the Michael J. Fox Foundation in the US to help fund a Phase 2 study of its candidate treatment for Parkinson’s disease levodopa-induced dyskinesia, ADX48621.