Opsona Therapeutics Ltd, an Irish medical discovery company that targets the innate immune system as a way of treating autoimmune and inflammatory diseases, has raised €18 million in a Series B financing provided by the Novartis Venture Fund, Fountain Healthcare Partners, Inventages Venture Capital and Seroba Kernel Life Sciences.
Merck Sharp & Dohme Ltd, which is the UK subsidiary of Merck & Co, has withdrawn its marketing authorisation application for the cancer treatment, Vorinostat MSD (vorinostat) from the European Medicines Agency.
Antisoma Plc expects that milestone payments from Novartis, together with the possible sale or partnering of a recently approved cancer drug, should enable it to fund its drug development programmes until the middle of 2011.
Pronova BioPharma ASA has accelerated construction of its new plant in Kalundborg, Denmark in the face of rising demand for its omega-3 derived prescription drug for hypertriglyceridemia, Omacor/Lo
France’s medicine regulator, Agence française de sécurité sanitaire des produits de santé (Afssaps), has approved the gene therapy product, Cerepro (sitimagene ceradenovec), for use on a named-patient basis in France.
The new chief executive officer of Pharming Group NV has outlined a strategy for the Dutch company that involves building up a broadly based portfolio of products in the fields of biotechnology, biomaterials and bionutritionals. The purpose is to reduce the group’s dependence on any one product. Pharming’s lead product for acute attacks of hereditary angioedema (HAE), Rhucin, encountered regulatory obstacles in 2008.
The European Medicine Agency’s Paediatric Committee has approved plans from 11 companies to investigate their new drugs for use in children.
The German molecular diagnostics company, Epigenomics AG, has raised €5.18 million in a share placement with two of its existing institutional investors. The proceeds will be used to finish the development and commercialisation of its most advanced product, a blood-based molecular diagnostic test for the early detection of colorectal cancer.
Sanofi-aventis reported higher sales and earnings in the fourth quarter and full year in 2008 on an adjusted basis. But expressed under International Financial Reporting Standards (IFRS), sales and earnings in 2008 showed a decline.
Elan Corporation Plc said that its previously-announced review of strategic options, including a possible sale of shares to a minority investor, is underway. But shareholders representing 37% of the company’s stock say that the possible sale of a stake to another pharmaceutical company would be unacceptable.