SwitzerlandSwitzerland

Mondobiotech in merger negotiations with Pierrel

05.03.2012

Stans – Mondobiotech, a drug discovery company in troubled waters, could soon be under Italian ownership: The Swiss biotech announced it has entered into exclusive negotiations with Milan-based provider of pharmaceutical and life science industries, Pierrel SpA, with regard to a potential combination of the Contract Research Organization (CRO) of Pierrel with Mondobiotech. According to a non-binding letter of intent signed by the parties, the business combination should be structured by way of a contribution in kind of 100% of the share capital of Pierrel Research International AG (the CRO holding company), fully owned by Pierrel into the capital of Mondobiotech, through a dedicated capital increase of the latter. The news led initially to a Mondobiotech share price rally at the SIX Swiss Exchange to a plus of 88 % (at 0.75 CHF) before falling back to 0.40 CHF. Last December, Mondobiotech announced that, due to the current financial market conditions and the lack of significant progress with currently available options, it would be implementing restructuring measures. Together with other fluctuations, this would include a reduction of more than 50% of the firm’s total workforce by the end of February 2012. Activities will be concentrated in the company’s Stans headquarters.

SwitzerlandSwitzerland

18.08.2011

Basel – Swiss pharma and diagnostics major Roche AG has agreed to buy privately-held Heidelberg-based mtm laboratories AG, a specialist for kits detecting pre-stages of cervical cancer, for up to EUR190m. Under the terms of the...

SwitzerlandSwitzerland

16.08.2011

Reinach – Evolva SA has got its hands on up to €30m of fresh capital. The Swiss specialist for synthetic biology announced that it has entered into a Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd. (YA...

SwitzerlandSwitzerland

15.08.2011

Basel/Waltham - Expecting to be bought by Novartis, U.S. biopharmaceutical firm Proteon Therapeutics Inc. has delivered a new $15.2 million financing. The Swiss pharmaceutical company Novartis obtained exclusive option to acquire...

SwitzerlandSwitzerland

03.08.2011

Zurich - Most of the European men share the DNA of the well known Egyptian pharaoh, Tutankhamun, also called the boy King Tut. According to geneticists at Zurich-based genealogy firm iGENEA, up to 70 percent of British men and...

SwitzerlandSwitzerland

13.07.2011

A big financier of biotech deals could be back on track soon. Novartis is interested in further acquisitions, CEO Joe Jimenez said in an interview published by the "Aargauer Zeitung", a Switzerland- based newspaper.The drugmaker...

SwitzerlandSwitzerland

11.06.2011

Basel – Swiss crop group Syngenta plans to construct a new biotech research facility adjacent to its existing research campus at the Research Triangle Park in North Carolina (US). The US$71m investment is scheduled to begin in...

SwitzerlandSwitzerland

10.06.2011

Zurich – Overexpression of two microRNAs trigger development of insulin resistance, a hallmark of type II diabetes which affects about 20% of the elderly (aged 55-74) in the western world. In Nature, a research team headed by...

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