News

Finance director and non-executive director of Alizyme resign

Alizyme Plc, a UK speciality pharmaceutical company, has announced the departure of its finance director, David Campbell, and its non-executive director, Richard Forrest. Both departures coincide with the publication of the company’s 2008 first-half-year results and a statement by the auditors, Deloitte & Touche, about the company’s ability to continue as a going concern.

Ablynx secures profit-sharing deal with Merck Serono

Ablynx NV of Belgium has secured an upfront cash payment of €10 million and a stake in future profits in a ground-breaking drug discovery and development deal with Merck Serono relating to two undisclosed targets in oncology and immunology.

Claus Møller steps down as COO of Genmab

Genmab A/S announced that Claus Møller, its executive vice president and chief operating officer, has resigned in order to concentrate on his job as chairman of the board of IPC-International Plc and to spend more time with his family. Dr Møller has been with Genmab since its founding in 1999.

IP Group reports losses on its drug company holdings

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.

Innate Pharma progresses early-stage cancer drug

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.

UCB narrows research focus and eliminates jobs

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.