IP Group Plc, which commercialises intellectual property from UK research institutions, reported a 15% decline in the estimated fair value of the drug companies in its portfolio in the first half of 2008. Despite this, it said that many of its holdings continue to make excellent operational and commercial progress.
The Marseilles-based biopharmaceutical company, Innate Pharma SA, has moved its lead product for cancer, IPH 1101, into a Phase 1/2 trial in follicular lymphoma. The progress of the early-stage clinical trial was highighted in the company’s latest financial report to shareholders, which was issued on 29 August 2008.
GlaxoSmithKline has agreed to pay $125 million upfront to participate in the development and commercialistion of a group of drugs known as potassium channel openers for epilepsy and other indications.
The chief executive officer of Oxford BioMedica Plc, Mike McDonald, has left the company after serving in that position for only 58 days.
Belgium’s UCB SA is reducing its global workforce by 17% and narrowing its research focus following a drop in revenue and profits in the first half of 2008 and the upcoming loss of US patent protection for one of its main drugs, Keppra (levetiracetam), a treatment for epilepsy.
Genmab A/S plans to file a biologic license application (BLA) this year with the US Food and Drug Administration for its lead product, ofatumumab, a fully human monoclonal antibody.
Ablynx NV of Belgium said that discussions with the regulatory authorities about progressing its lead nanobody product, which targets von Willebrand Factor, into Phase 2, could start before the end of 2008.
In a business update, issued on 27 August 2008, Ark Therapeutics Group Plc, the UK specialist healthcare group, reported progress across all of the main areas of its business, including the clinical development of its novel gene-based therapies. Its most advanced therapy, Cerepro (sitimagene ceradenovec), for brain cancer, is ending a Phase 3 trial. On 30 July, Ark announced that the study had reached its primary endpoint.
Belgium’s Galapagos NV has acquired assets in the field of drug discovery from Sareum Holdings Plc which will enable it to quickly identify promising new small molecule drugs. The acquisition, for £553,000, will give Galapagos all of Sareum’s contracts relating to structure-based drug discovery.
Diamyd Medical AB, a Swedish specialist in autoimmune diabetes, said that a gene it is investigating to treat Type 1 diabetes may also be used for advanced Parkinson’s disease and possibly other neurological conditions.