Ablynx NV has raised €50 million in a secondary offering of its shares to support the development of its portfolio of therapeutic proteins based on single-domain antibody fragments. The company now has a market capitalisation of about €327 million.
Pfizer Inc has announced that two Phase 3 studies of Sutent (sunitinib malate) in advanced breast cancer did not meet their primary endpoints. The drug is currently approved for gastrointestinal stromal tumour and advanced renal cell carcinoma. The company announced the trial results on 11 March 2010.
Ipsen SA of France is out-licensing two of its peptide therapeutics programmes that target metabolic and gastrointestinal disorders and obesity to Rhythm Pharmaceuticals, a venture capital-backed company in Boston, Massachusetts.
A Phase 3 trial of Avastin (bevacizumab) in combination with docetaxel and prednisone in men with late-stage prostate cancer has failed to meet its primary endpoint of extending overall survival, the Roche Group announced.
Cellzome Inc said that it has secured a new drug discovery deal with GlaxoSmithKline under which the companies will seek to identify small-molecule drugs against epigenetic targets. Cellzome will receive €33 million upfront.
Novartis AG is raising $5 billion with a three-tranche bond issue to finance part of its pending acquisition of Alcon Inc, a large eye-care company with sales of approximately $6.5 billion in 2009.
A French producer of therapeutic vaccines for cancer has raised €13.1 million from private and public sources in order to bring its lead product, a therapeutic human papillomavirus vaccine, into the clinic.
Actelion Ltd said that it has received a complete response letter from the US Food and Drug Administration for its treatment for Niemann-Pick disease, Zavesca (miglustat). This means the agency cannot approve the application in its present form.
Ark Therapeutics Group Plc has dropped its appeal against a negative opinion from the European Medicines Agency for its gene therapy for brain cancer, Cerepro. It also announced that it is in talks about a possible takeover of the company. Ark disclosed the developments on 9 March 2010.
Genmab A/S said that its antibody for head and neck cancer, zalutumumab, has failed to show overall survival in a Phase 3 study in which the drug was being tested in combination with best supportive care versus best standard care alone.