FinlandFinland

Biotie buys Newron

28.09.2011

Turku/ Bresso – It is both good and bad news for the Italian biotechnology sector: Finnish Biotie Therapies ASA has signed an agreement to acquire Newron Pharmaceuticals S.p.A. for €45 million. On the down side, Italy loses one of its most dynamic biopharmaceutical companies but the deal is also a proves that Italian innovative companies are still attractive on a European level.
Biotie wants to create a leading European biopharmaceutical company focused on central nervous system (CNS) drug development. The deal will be effected as a European Union cross-border merger. Biotie will issue Newron shareholders close to 90m initial consideration shares with an option for more if specific milestones are reached. According to Biotie, through the transaction it creates a “deep pipeline”, led by two drugs, nalmefene and safinamide, in Phase 3 development, targeting alcohol dependence and Parkinson’s disease, respectively. Timo Veromaa, President and CEO of Biotie, is particularly excited about safinamide, “a compelling late-stage asset with potential for significant near-term milestones”. In the short-term, Biotie hopes to cash in on two other substances for the CNS market.

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08.03.2012

The vaccine research centre of the University of Tampere in Finland has out­licenced a candidate combined prophylactic vaccine against norovirus and rota­virus infections. The Japanese vaccine venture UMN Pharma Inc. acquired the...

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07.03.2012

Finnish protein manufacturer Vectron Biosolutions AS has completed a study comparing different expression technologies. According to Vectron, their proprietary E. coli expression technology gave higher yields for seven out of ten...

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02.03.2012

Lappeenranta – Finnish paper industry major UPM plans to invest in an industry-scale biorefinery producing biofuels from crude tall oil, a by-product of the wood pulp manufacturing process. UPM’s total investment will amount to...

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18.12.2011

Helsinki/Göttingen – Finnish laboratory supplier Biohit Oyj has sold its liquid handling business for €68m to German process and labtech provider Sartorius AG. Osmo Suovaniemi, founder and Chairman of the Board at Biohit,...

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17.12.2011

Porvoo/Chalfont St. Giles – GE Healthcare and Neste Jacobs have formed a strategic alliance to drive worldwide self-sufficiency in blood plasma fractionation. Finnish-based Neste Jacobs Oy, a global expert in plant engineering...

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31.10.2011

Bresso/Turku – The wedding's off between Newron and Biotie. The bride has run away. Shares in Italy's Newron Pharmaceuticals plunged after its proposed merger with Biotie Therapies Corp was called off by the Finnish firm....

FinlandFinland

04.04.2011

Hafnarfjodur – Actavis Group CEO Claudio Albrecht announced at the beginning of February that the company may go public within the next 2-3 years, although it isn’t clear whether the generics manufacturer would conduct an IPO,...

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11.02.2011

Helsinki – Using laser light to destroy tumour cells lodged in lymphatic vessels can halt the spread of cancer, Finnish researchers headed by Tuomas Tammela have demonstrated. Their approach to destroy the tumour cells, which use...

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No liability assumed, Date: 23.04.2014

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