News

GSK antibiotic trials stopped early for efficacy

Thursday 3 November 2022
Country
United Kingdom

Two Phase 3 trials of an experimental antibiotic for uncomplicated urinary tract infections in female adults and adolescents have been stopped early for efficacy, according to the developer GSK Plc. The trials were testing gepotidacin which inhibits bacterial DNA replication and independently binds to two different type 2 topoisomerase enzymes. The trials were halted on the recommendation of the programme’s independent data monitoring committee.

GSK grows pipeline

Thursday 3 November 2022
Country
United Kingdom

GSK Plc reported a double-digit increase in sales for the third quarter and a pipeline of 65 potential vaccines and medicines as it transitioned to a new structure. On 18 July, it spun off its consumer healthcare business, Haleon, into an independently listed company. The new GSK retains a minority stake in the business, but going forward it will focus on specialty medicines, vaccines and new technologies.

Sanofi beats forecast

Tuesday 1 November 2022
Country
France

Sanofi beat analyst sales forecasts for the third quarter with stronger than expected turnover for influenza vaccines and robust demand for Dupixent, its anti-inflammatory drug developed  with Regeneron Pharmaceuticals Inc. Group sales were €12.48 billion for the quarter which was 5% above the consolidated forecast of the financial community. On a reported basis, this represented an increase of 19.7%. The increase at constant exchange rates was 9%.

Novartis executes new strategy

Monday 31 October 2022
Country
Switzerland

Novartis saw its operating profit decline in the third quarter as it began execution of a new strategy that will focus on proprietary medicine development and the divestment of its Sandoz generics and biosimilar business. Operating income for the quarter was $2.2 billion, down by 33% due to higher impairment and restructuring costs. The decline was 4% when calculated on a non-IFRS basis. Net income for the quarter was $1.57 billion, down by 43%.

Meeting Report: Negotiating a pharma asset

Sunday 30 October 2022
Country
Germany

Negotiating the sale of a pharma asset, whether preclinical or clinical, involves skills in interpersonal relations as well as a thorough understanding of the asset itself, according to speakers at a panel discussion at BIO-Europe in Leipzig, Germany on 25 October.

Roche confirms guidance

Thursday 20 October 2022
Country
Switzerland

Roche expects to report unchanged, or slightly increased, sales for 2022 as demand for new products offsets sales declines for Herceptin and other legacy medicines which are now competing against cheaper biosimilar products. The Swiss multinational said it expects to increase its dividend for 2022. As is customary, it did not report operating or net profit figures for the third quarter and the nine-month period.

Andera closes new fund

Thursday 13 October 2022
Country
France

France-based Andera Partners has closed its newest venture capital fund, BioDiscovery 6. At  €456 million, it is the largest amount raised for any of the group’s funds directed at the life sciences sector. The fund was supported by new and existing investors.

Immunic extends cash runway

Thursday 13 October 2022
Country
Germany

Immunic Inc, which is co-located in the US and Germany, has raised approximately $60 million in an oversubscribed private equity financing to support clinical development of its small molecule drugs for chronic inflammatory and autoimmune diseases. The newest financing extends the company’s cash runway into the fourth quarter of 2024.

Immatics raises finance

Thursday 13 October 2022
Country
Germany

Immatics NV has raised $110 million in a public share offering to advance development of its T cell receptor T cell therapies for cancer. The financing coincides with the disclosure of interim clinical data for the company’s lead product IMA203 which is being studied in multiple solid cancers.

Muna gets Parkinson’s grant

Thursday 13 October 2022
Country
Denmark

Muna Therapeutics, a biotech company co-located in Denmark and Belgium, has received a $4.9 million grant from the Michael J Fox Foundation of the US to support preclinical research and development into small molecule potassium channel type 1.3 (Kv1.3) blockers to stop neuroinflammation and enhance neuroprotection in Parkinson’s disease.