Pharming Group NV has raised €7.5 million in convertible debt that will help finance its activities while its lead product for hereditary angioedema, Rhucin, is being reviewed by the European Medicines Agency.
BioInvent International AB of Sweden has started a Phase 1 study in the US of its monoclonal antibody, BI-505, in patients with advanced multiple myeloma. The drug has been granted orphan status by both the US Food and Drug Administration and the European Medicines Agency. Patients in the trial will be treated with intravenous doses of the drug every other week for a 28-day period with the possibility of extending the treatment until the condition deteriorates again. BI-505 binds to the adhesion protein, ICAM-1, which is over-expressed in several tumours but is not usually expressed in normal tissue. It is being developed to treat multiple myelomas that express this protein. Multiple myeloma is a cancer of the plasma cells.
The newly merged Swiss company, Evolva Holding SA, has signed a deal with the Roche group to discover compounds with activity on targets in oncology and anti-infectives. The financial terms were not disclosed.
A bioinformatics company with a focus on biomarker discovery has received seed funding from two UK venture funds in order to carry out its work identifying markers suitable for helping investigators select patients for clinical trials.
Researchers at Newcastle University in the UK have reported the successful treatment of eight patients suffering from an eye disease known as limbal stem cell deficiency with the patients’ own stem cells. The treatment was administered in a clinical trial.
NicOx SA of France said it has raised €100 million in a two-step capital increase giving it the financial means to set up a sales force in the US to help commercialise its lead anti-inflammatory drug, naproxcinod, which is being reviewed by the FDA.
Health ministers of the European Union have asked regulatory authorities to provide scientific support for developers of antibiotics to replace those that are no longer effective. However, no money was put on the table
The value to Big Pharma of novel antibiotics has been underscored by AstraZeneca’s decision to acquire Novexel SA of France for a total cash consideration of up to $505 million. Novexel currently has two anti-infectives in Phase 2 development.
Innate Pharma SA, a pioneer in the field of cancer immunotherapies, has raised €24.3 million gross in a share placement supported by France’s Fonds Stratégique d’Investissement and existing investors, Novo Nordisk A/S and Alta Partners.
The European Medicines Agency has given a negative opinion to a proposed gene therapy developed by Ark Therapeutics Group Plc for malignant brain cancer, saying the product failed to show efficacy. Ark said it will appeal against the decision.