A new biopharmaceutical company has been created in Switzerland to focus on the development of anti-infectives for women’s health. The company, Lumavita AG, is based in Basle, and is being supported by Atlas Venture, BB Biotech Ventures and BioMedInvest. On 2 September 2008, it announced the successful closing of a Series A financing for €11 million.
Pfizer Inc. has withdrawn its licensing applications in the US and Europe for the skin treatment, dalbavancin, in order to conduct a second Phase 3 trial. The withdrawals were announced on 9 September 2008.
Intercytex Group of the UK has raised £2.75 million before expenses through a placement of new shares with existing institutional shareholders. The money will be used to finance Phase 3 trials of its lead product for chronic wounds, cyzact.
The European Medicines Agency has issued new guidelines on how companies should design trials for Alzheimer’s disease, dementias, and for Parkinson’s disease.
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 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.
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.
Shareholders of Acambis Plc, have accepted a takeover bid from Sanofi Pasteur Holding which values the UK company at around £276 million.
Investors in SkyePharma Plc will experience a demonstration of the proposition that a slim cut of a big pie is better than a fat cut of a small one.
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.