News

A small molecule drug in development by Vertex Pharmaceuticals Inc has reduced pain in patients with diabetic peripheral neuropathy, a type of nerve damage that can occur with the disease. A Phase 2 trial of VX-548 which inhibits NaV1.8, a voltage-gated sodium channel, showed a statistically significant reduction in a measure of pain, Vertex announced on 13 December 2023. Patients with diabetic peripheral neuropathy are often treated with anti-seizure drugs or antidepressants, according to the Mayo Clinic. Opioid analgesics can also be used as second or third-line agents.

France-based Sofinnova Partners is to take a direct role in creating new biotech companies in Europe in order to accelerate the development of novel medicines for patients. The strategy, announced on 13 December, follows similar moves by other venture capitalists who are seeking to capture the value of healthcare innovations early and guide development to a successful conclusion. Sofinnova did not disclose the size of its investment in the project which is called Biovelocita.

However it did say that the strategy has already been successful in Italy.

The US Food and Drug Administration has approved a new drug for the treatment of desmoid tumours, a rare subtype of soft tissue sarcoma. Desmoid tumours are non-cancerous and typically treated with surgery, but not all patients are eligible for this procedure. And even when surgery is an option there is a risk that the tumours will return, affecting a person’s quality of life, according to the FDA.

Switzerland-based BC Platforms AG is to increase its capacity as a provider of healthcare data to the pharmaceutical industry with the acquisition of Medexprim SAS of France. The financial terms of the transaction, which was announced on 7 December 2023, were not disclosed.

AstraZeneca Plc is to acquire Icosavax Inc of Seattle, US, a developer of virus-like particle (VLP) vaccines in a bid to strengthen its late-stage pipeline for candidate vaccines and immune therapies. The deal, valued at up to $1.1 billion if all contingent requirements are met, will build on the UK company’s experience developing two products for the prevention of respiratory syncytial virus (RSV), a major cause of acute respiratory infection in individuals of all age groups.

The US Food and Drug Administrations has issued approvals for two new cell-based gene therapies for the treatment of sickle cell disease, a rare but life-threatening blood disorder that affects millions of people throughout the world. The approvals, announced on 8 December, are for treatments which have demonstrated an ability to restore haemoglobin function in patients using different mechanisms of action.

AbbVie Inc is to expand its neuroscience pipeline with the acquisition of Cerevel Therapeutics LLC of Cambridge, US, which has a clinical-stage product for schizophrenia targeting a receptor that regulates signalling in the brain. Announced on 6 December, the deal is valued at $8.7 billion and comes only a week after AbbVie disclosed plans to buy ImmunoGen Inc, a company with antibody-drug conjugate products for cancer. The ImmunoGen deal is valued at $10.1 billion.

The Roche Group has joined the cohort of companies developing new drugs for weight loss and obesity with a decision to acquire Carmot Therapeutics Inc of California, US whose lead product is a Phase 2-ready synthetic peptide for the treatment of obesity. Under the terms of the agreement, Roche will pay $2.7 billion upfront with a further $400 million on the achievement of certain milestones.

Political leaders of the European Union reached an agreement on 9 December on the principles that should govern the regulation of artificial intelligence – the first comprehensive legal framework for AI anywhere in the world.

AbbVie Inc has joined the competition amongst large pharma companies for leadership of the market for antibody-drug conjugates (ADCs) with the proposed acquisition of ImmunoGen Inc of Waltham, Massachusetts for $31.26 per share in cash or an enterprise value of $10.1 billion. The acquisition was announced on 30 November and is expected to complete in the middle of 2024.