Cardio3 BioSciences SA, a privately-owned Belgian company, has raised €13.7 million to finance the clinical development of its second-generation cell therapy for the treatment of heart failure, C-Cure.
Oxford BioMedica Plc said that a patent infringement suit brought against it by Bavarian Nordic A/S of Denmark has been dismissed. The suit alleged that the UK company had infringed three of Bavarian Nordic’s US patents for a viral vector used in the Danish company’s smallpox, HIV and cancer programmes.
The European Medicines Agency has installed a new specialist committee which will review for the first time, applications from companies developing gene therapies, cell-based products and therapies that are engineered from human and/or animal tissue.
Following the appointment of Per-Oluf Olsen as chief executive officer in November 2008, Pronova BioPharma of Norway has reduced the size of its top management team.
Aravis SA has announced the closing of a CHF 32 million Series B private financing for Synosia Therapeutics of Basel, Switzerland.
Pfizer Inc has announced plans to cut its global research staff by 5% to 8% following an earlier decision to refocus its research on six therapeutic areas. The staff reductions are expected to be carried out over the next several months, the company said in a statement issued on 14 January, 2009.
Elan Corporation Plc said that it has hired Citigroup Global Markets Inc to help it review its strategic options, including a possible alliance, merger or a sale. The review follows a decline in the company’s share price since July 2008 amid concerns about adverse events related to its multiple sclerosis drug, Tysabri (natalizumab).
Apitope Technology of Bristol UK has entered into a licensing agreement with Merck Serono that gives the Geneva-based company exclusive global rights to develop and commercialise Apitope’s candidate product for multiple sclerosis, a therapeutic peptide vaccine.
Galapagos NV of Belgium has entered into a multi-year global alliance with Merck & Co. Inc valued at more than €170 million to develop new therapies in obesity and diabetes. The deal was announced on 9 January 2009.
Shares of Crucell NV of the Netherlands jumped 35% on 8 January 2009 following the disclosure late the previous day that the company was in discussions with Wyeth about a merger. Shares of the Dutch vaccine maker rose to €15.6 on the Euronext stock exchange in Amsterdam from €11.58 a day earlier. Wyeth is reported by Bloomberg to be offering $1.35 billion for Crucell. Neither company has commented publicly about the price.