NorwayNorway

Crisis averted for Norway’s OCC

20.02.2009

Oslo – At the end of January, the Norwegian government put forward a biotech crisis package with a total volume of up to a150m. Key measures include an increased funding of innovation loans from the industrial development agency Innovation Norway, tax breaks for individual small and medium-sized enterprises, funding for R&D collaborations within the industry sector, and increased equity capital for the government-owned investment company Argentum. The first phase of the initiative is expected to begin in May.
“This is an active political move to support the biotech industry. At this point, these seem to be the measures necessary to bring Norwegian biotech companies through the financial crisis,” commented Bjarte Reve, the CEO of the Oslo Cancer Cluster.
The organisation first called for help in the form of a crisis package in early December, urging the Norwegian Government to adopt crucial measures to help the Norwegian life science sector through the financial downturn. It is now hoped that the additional funding will ensure that the OCC’s 50 member companies can accelerate the development of new cancer therapies and diagnostics. Reve says that over half of them are in danger of running out of cash in the next 12 to 18 months. Taken as a whole, the companies that make up the Oslo Cancer Cluster have more than 50 oncology products in the pipeline that would be vulnerable to takeovers or dying out due to lack of funding.

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08.03.2012

With a bold approach, including next-generation DNA sequencing (NGS) and state-of-the-art biobanking systems, Norway is pushing forward personalised cancer treatments in its national health care system. Clinical-quality genome...

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Bionor Pharma ASA’s development of an HIV vaccine is back on track. In mid-February, the Oslo-based company announced positive results from a Phase IIb study. When combined with antiretroviral treatment, the Vacc-4x vaccine...

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19.01.2012

Oslo – The north lights up with financial flares. Norwegian cancer specialist Clavis Pharma ASA has raised €21m through a placement of new shares. The 2.8 million shares represent approximately 9.4% of the current stock in the...

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11.01.2012

Bergen – BerGenBio A/S announced it has completed an €6.9m Series A financing round. The money will be spent in taking their lead compound BGB324 into clinical trials and to develop a companion diagnostic. The lead investors are...

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13.12.2011

Reykjavik – Iceland’s deCODE Genetics, which Arch Venture Partners and Polaris Venture Partners lifted out of bankruptcy in January 2010, has been making a comeback of late. In mid-October, the genome analyser announced it had...

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01.10.2011

Oslo/Leverkusen – Norwegian radiotherapy specialist Algeta ASA and German drugmaker Bayer have presented new data on their cancer drug alpharadin. The radium-223-chloride pharmaceutical showed an increased overall survival rate...

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30.09.2011

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14.06.2011

Laskut/Berlin – Researchers from Finland’s Technical Research Center VTT and the Charité Hospital in the German capital have come a step closer to a personalised diagnostic test for cancer. Matej Orešic (VTT) and Carsten Denkert...

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12.06.2011

Oslo – Norwegian cancer drug development company Clavis Pharma ASA will receive a grant from the Norwegian government for the development of a companion diagnostic in acute myeloid leuk­aemia (AML). The Research Council of Norway...

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17.05.2011

Oslo – Clavis Pharma ASA has signed a licensing deal with US firm Translational Therapeutics, Inc., for the development and commercialization of CP-4033, a patented Lipid Vector Technology (LVT) derivative of ribavirin under...

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