IrelandIreland

Elan sign US$50m development deal with Proteostasis Therapeutics

26.05.2011

Dublin – Ireland’s Elan Corporation plc has paid US$50m to access Proteostasis Therapeutics’ pipeline of proteostasis regulators, peptidomimetic compounds that regulate protein folding, protein aggregation and protein degradation through the ubiquitin-proteasome pathway. Elan stated the companies’ approaches to find treatments against neurodegenerative disorders such as Parkinson’s, Huntington’s, multiple sclerosis and amyotrophic lateral sclerosis (ALS), or Alzheimer’s were complementary. Besides an equity investment of US$20m, Elan said it would invest up to $30 million milestone-dependently in collaboration funding over five years. As part of the agreement, Elan will become an approximate 24% shareholder in Proteostasis, obtained a right of first negotiation to exclusively license compounds emerging from the combined initiative and will have the right to a seat on the Proteostasis board of directors as well as its scientific advisory board.

IrelandIreland

20.03.2012

While on a trip to strengthen economic ties between Ireland and California, Ireland's minister for jobs, enterprise and innovation, Richard Bruton, revealed on 15 March that two Irish government organisations have provided...

IrelandIreland

16.03.2012

Dublin – Irish drugmaker Shire plc has agreed to pay US-$100m in upfront for Ferrokin Biosciences Inc., a San Francisco-based specialist for iron chelation therapies. US-$225m could be added if certain milestones are achieved....

IrelandIreland

07.03.2012

Abbott Laboratories is to spend a85m and expand its pharmaceutical manu­facturing facility in Sligo (Ireland), saying that would help the company to ensure its supply of compounds in bio­pharmaceutical areas like virology and...

IrelandIreland

24.01.2012

Weston/Dublin - The focus for Tysabri, the MS drug jointly developed by Irish Elan and US-Biogen, has become a little more accurate. The US Food and Drug Administration (FDA) stated that the occurrence of antibodies against the...

IrelandIreland

13.12.2011

Dublin/Cambridge – The University of Cambridge and Irish drugmaker Elan Pharmaceutical Inc. have joined forces in the battle against Alzheimer’s Disease. Together, the two will create the Cambridge-Elan Centre for Research...

IrelandIreland

07.12.2011

Uppsala/Craigavon - Irish Almac trusts a Swedish platform to develop new cancer drug candidates. As Uppsala-based Beactica announced on Tuesday, its Sprint-technology will be used to identify fragment hits against a number of...

IrelandIreland

05.12.2011

Dublin /New York – Irish Tibotec Pharmaceutical Ltd and Bristol-Myers Squibb (BMS) have entered into a clinical collaboration for the treatment of chronic hepatitis C infections with a combination of BMS’ NS5A replication complex...

IrelandIreland

01.10.2011

Athlone – Biopharma group Alkermes has established its new Irish corporate base following its merger with Elan Drug Tech­nologies. The a712m (US$960m) deal agreed back in May – which saw Alkermes acquire Elan’s Athlone-based drug...

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