In this week's EuroBiotech Report, having been rejected by AbbVie, Galapagos hit the gas on its partnering strategy. Several potential partners are already giving the data the once-over, potentially putting Galapagos in a position to meet its goal of having a new deal in place by the end of the year. And more.
OrbiMed has joined with New Enterprise Associates and Versant Ventures to funnel $35 million (€31 million) into a French startup that is developing a treatment for a common form of dwarfism. The sizable Series A round will support the advance of the program to clinical proof of concept.
Verona Pharma has come through one of the last major barriers between it and the start of a Phase IIb trial of its chronic obstructive pulmonary disease (COPD) drug. The news means that, after years of largely unsuccessful R&D into phosphodiesterase inhibitors, another company is nearly ready to test a product from the class in a late-phase trial.
Oasmia Pharmaceutical (STO:OASM) has made another change to its upcoming NASDAQ IPO. The nanotechnology specialist is now planning to hand out one warrant for every two shares it sells in the IPO, positioning it to boost its fundraising haul by more than 60% if investors take up the option to buy stock at the predefined price.
Galapagos is looking to bounce back quickly from AbbVie's decision to walk away from their rheumatoid arthritis alliance. The aim is to have a new partnership deal in place by the end of the year, giving Galapagos the support it needs to go head-to-head with ally-turned-rival AbbVie in the scrap for the rheumatoid arthritis market.
Apitope has raised €12 million ($13 million) to advance its lead candidates into the clinic. The Merck Serono-partnered autoimmune specialist will funnel the cash into the advance of in-house peptides for the treatment of Factor VIII intolerance in hemophilia A patients and Graves' disease.
The European Medicines Agency is moving toward approving a trio of novel medicines from Roche, Boehringer Ingelheim and Gilead Sciences, handing down positive recommendations for each.
Breast implant company Sientra saw its valuation cut in half on news that its contract manufacturer Silimed has had its CE mark suspended by the U.K. Department of Health. The move came after German regulators conducted an inspection of a Brazilian manufacturing plant--and regulators found that "the surfaces of some implants were contaminated with particles."
In this week's EuroBiotech Report, AstraZeneca spinout Albireo hired Ron Cooper, a 30-year veteran of Bristol-Myers Squibb, as its CEO, while Sir Greg Winter-founded Bicycle Therapeutics persuaded Kevin Lee to swap a top rare disease R&D post at Pfizer for a chance to lead its nascent operations. And more.
Having spent 7 years building up a pipeline of bile acid modulators from its base in Gothenburg, Sweden, AstraZeneca spinout Albireo is now swinging its center of gravity to Boston, MA. The shift follows the appointment of ex-Bristol-Myers Squibb executive Ron Cooper as CEO.