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.

FinlandFinland

03.11.2010

Turku/Freiburg – EU researchers led by scientists at the University of Turku have begun designing a bacterium able to produce liquefied petroleum gas (LPG) from sunlight. “We have all the parts to put the ability for production...

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19.09.2010

Rajamäki/Darmstadt – A cooperation project between AB Enzymes Oy and Royal Oy has resulted in the discovery of an enzyme that enables washing temperature to be dropped to as low as 10° C. The project is being funded by the SymBio...

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08.07.2010

Turku – Finland’s Faron Pharmaceuticals Ltd. has announced a cooperation with German biotech company Priaxon AG to create new scaffold structures to modify the AOC3-protein function and its ligand interaction with orally...

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09.06.2010

Tampere – Short people are at greater risk of developing heart disease than tall people, according to a meta-analysis of 52 populations-based studies including 3 million people by Finnish researchers (Eur. Heart J.,...

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12.05.2010

Reykjavik – Researchers from the Icelandic bio­tech company deCODE – together with colleagues from 23 institutions in a dozen countries – have determined that genetic factors influence both nico­tine dependence and the incidence...

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11.05.2010

Turku – Finnish Biotie Therapies Corp. confirmed that its oral phospho­diesterase 4 inhibitor ELB353 has proven safe and pharmacologically active in a Phase I study. Pharmacokinetic data point to the suitability of ELB353 for a...

FinlandFinland

07.03.2010

Helsinki/Hinxton – Finland has pledged EUR1.85m to help create world-class bio­informatics, biobanking and translational research infrastructures, the European Bioinformatics Institute (EBI) at the European Molecular Laboratory...

FinlandFinland

04.02.2010

Helsinki –Finland is investing EUR1.9m in creating world class bioinformatics, biobanking and translational research infrastructures. The investment comes as part of the linkage of three large EU projects ELIXIR, BBMRI, and...

FinlandFinland

01.02.2010

Helsinki – The Academy of Finland is restructuring its funding instruments. The purpose of the reform, which will be finalised in fall 2010, is to give greater clarity and flexibility to Finnish researchers, and to improve the...

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