News

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.

Ark Therapeutics Plc said that the European Medicines Agency has accepted its application for a marketing authorisation to launch a novel gene therapy to treat brain cancer. The application is one of the first in a new group of advanced therapies that are being regulated under European legislation that took effect on 30 December 2008. Ark announced the start of the regulatory review of its product, Cerepro, on 6 January 2009.

Pfizer has decided to exercise its options under a previously-announced research and licensing agreement with Cytos Biotechnology AG of Switzerland, giving it exclusive rights to develop, manufacture and commercialise a group of novel vaccines. The decision has triggered an undisclosed payment to Cytos. The total value of the agreement, including milestones and technology transfer fees, is estimated at CHF 150 million.

The European Medicines Agency (EMEA) has published a draft policy document in which it proposes to significantly increase the number of regulatory documents made available to the public once a decision on a medicine has been made.

The European Medicines Agency (EMEA) is recommending that six new medicines be approved for sale in Europe and that two others be given broader indications. This follows an analysis of the product data by the agency’s Committee for Medicinal Products for Human Use at a meeting from 15 to 18 December 2008. The European Commission will formally issue the marketing authorisations.