GermanyGermany

Probiodrug convinces VC

16.11.2009

Halle – Probiodrug AG has closed one of the largest VC rounds in the world so far this year. The specialist in neurodegenerative and inflammatory diseases raised a36m from an international consortium made up of new investors BB Biotech and Edmond de Rothschild Investment Partners (EDRIP) as co-leads, backed up by LSP Life Science Partners and Biogen Idec New Ventures. All existing institutional shareholders – IBG Fonds, TVM Capital, HBM BioVentures, and CFH Group – followed on, along with private investors. Probiodrug’s big discovery is glutaminyl cyclase, an enzyme that is thought to play an important role in the onset of Alzheimer’s disease. “We have found the snowball that triggers the avalanche,” said Hans-Ulrich Demuth, the company’s Chief Scientific Officer. Last year, Probiodrug published initial results in Nature Medicine. “Ever since, glutaminyl cyclase has been one of the hottest topics at scientific meetings and in the pharmaceutical industry,” EDRIP partner Olivier Litza told EuroBiotechNews. Probiodrug will use the funds to further pursue its glutaminyl cyclase programmes. In 2004, the company successfully outlicensed a programme of DP4-inhibitors for the treatment of diabetes to US-based OSI Pharmaceuticals for US$35m.

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07.03.2012

The first of February marked a milestone for Leverkusen-based Bio­frontera AG in more ways than one. It was the first day that Ameluz, the firm’s first approved product, could be sold in German pharmacies. It was also the date...

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07.03.2012

Darmstadt – German pharmaceutical and chemical company Merck KGaA has set a downbeat tone for 2012. CEO Karl-Ludwig Kley said the recently launched cost-cutting programme and tough economic conditions will weigh on profits this...

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05.03.2012

Mainz/Leuna – Two biotech concepts were amongst the winners of the recent third round of the Excellence Cluster initiative, which is funded by the German Ministry for Research. In Mainz the champagne corks popped especially loud...

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29.02.2012

Munich – Looking back with satisfaction and bent on a prize for good behaviour, German biopharmaceutical company Wilex AG reported yesterday on the fiscal year 2011 and outlined the shores in sight. The 2011 total revenue was...

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17.02.2012

Brussels – European cartilage researchers intensify their cooperation. The 'gristle network' comprises scientists from Belgium, France, Germany and Luxembourg. Its members plan to meet regularly to exchange views and information...

27.01.2012

Thousand Oaks/Munich - Bling bling for blinatumomab. It is a compliment for the European life sciences scene and sad news at the same time. Amgen Inc., the world's largest biotechnology company, agreed to buy Micromet Inc., an...

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20.01.2012

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17.01.2012

Ludwigshafen – BASF Plant Science GmbH, the agrochemistry and biotech arm of the world-largest chemistry company, thinks that it has outstayed its welcome in Europe. Over the next two years, most of the green biotechnology...

GermanyGermany

10.01.2012

Munich - It is the accolade for Micromet. The German company, which is listed on the U.S. stock exchange, announced today that it has entered into a Cooperative Research and Development Agreement (CRADA) with the renowned US...

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