News

Santhera Pharmaceuticals of Switzerland has raised a gross CHF 15.9 million in a private share placement with Ares Life Sciences, an investment vehicle controlled by the Bertarelli family.

After a period of restructuring, Paion AG has started to look for partners to develop its candidate products for central nervous system and cardiovascular disorders. The German company outlined its revised business strategy in a financial report for the first nine months of 2008, issued on 5 November.

Newron  Pharmaceuticals SpA has consolidated its research programme for central nervous system (CNS) disorders and pain following the takeover earlier this year of Hunter-Fleming Ltd of the UK.

Pronova BioPharma ASA, the Norwegian producer of omega-3 derived prescription drugs, reported sharply higher revenues and earnings in the third 2008 quarter because it was able to raise the production capacity for its best selling treatment for coronary artery disease, Omacor (Lovaza).

Neuropharm Group Plc said that it is on track to complete its new drug application (NDA) for the treatment for autism in the second quarter of 2009. If approved by the Food and Drug Administration, the treatment could be launched in the US in the first quarter of 2010.

MorphoSys AG has revised upward its expected operating profit for 2008 to take into account continued strong demand for its antibody technology.

Biovitrum AB has decided to discontinue early research into small molecule drugs in order to refocus its resources on the development of biologicals. This follows the company’s acquisition in September 2008 of global sales rights for two biologics from Amgen Inc and the signing of an exclusive licensing agreement for a third.

The third quarter results from Shire Plc form a basis for expecting that sales of new products could offset much of the anticipated loss of revenue for its best-selling drug, Adderall XR, which goes off-patent in 2009.

A long-standing collaboration among Cellartis AB, the Hagedorn Research Institute of Novo Nordisk, and Professor Henrik Semb of Lund University into diabetes has been upgraded with a view to developing a new cell therapy for the treatment of type 1 diabetes.

Apitope International NV, a biopharmaceutical company based in Belgium, has raised €10 million in a series A financing to develop a peptide therapeutic for multiple sclerosis.