SwitzerlandSwitzerland

Compound gets second chance

01.10.2011

Hamburg – When the compound EVT302 failed proof-of-concept testing in the spring of 2009, investors began backing away from Evotec AG shares. Now the selective MAO-B inhibitor is back, and has powered a leap in the company’s stock price of more than 10%. The primary reason for the jump rests with Swiss pharma giant Roche, which in early September signed a significant licensing agreement for the potential Alz­heimer’s disease treatment. Roche has agreed to pay US$10m for the rights to EVT302, and if development efforts prove successful, another US$820m could be added. Evotec is also eligible for double-digit millions participation in any sales. Roche will begin the development process immediately, and Phase IIb trials are scheduled for next year. The tab for clinical study costs will also be picked up by Roche. Due to the advance payment, Evotec was able to raise its annual sales forecast from the €70m-€72m range up to €79m-€77m. Liquidity should be at least a60m. Analysts welcomed the deal. Interestingly, Roche knows EVT302 well; in 2006, Evotec purchased the substance together with another MAO-B inhibitor out of Roche’s pipeline, and tried to develop it as a therapy for addiction to smoking, but stumbled in the Phase II trial. Now the compound is getting a second chance.

SwitzerlandSwitzerland

30.03.2012

Basel/Hinxton (UK) – Two European teams have created huge repositories of cancer genomics data that help predict drug response. Swiss Novartis and the Boston-based Broad Institute have combined data obtained from large-scale...

SwitzerlandSwitzerland

27.03.2012

London/Lausanne – The global private equity firm Celtic Therapeutic L.L.L.P. believes in the power of antibody-drug conjugates (ADCs). It is investing $50m in a new Switzerland-based company called ADC Therapeutics Sarl which...

SwitzerlandSwitzerland

26.03.2012

Basel/Vienna - Following promising results from a Phase III study, Roche has submitted a regulatory application to EMA for subcutaneous Herceptin (trastuzumab) to treat HER2-positive breast cancer. Roche said subcutaneous...

SwitzerlandSwitzerland

09.03.2012

After the US Food & Drug Administration forced Swiss generics giant Sandoz AG to update its production facilities in Quebec, there are now fears that supplies of some medicines could grow tight in Canada. The regulatory authority...

SwitzerlandSwitzerland

08.03.2012

The hepatitis C space has seen a string of large deals in the last weeks that include a US$11bn buyout of Pharmasset by Gilead. Now Novartis is also trying to get in the game with the purchase of a global exclusive licence from...

SwitzerlandSwitzerland

06.03.2012

Allschwil – Swiss Actelion Ltd. has strengthened its commercial offerings by securing rights in certain countries to Auxilium’s biotech drug Xiaflex for treating tissue buildup under the skin. The US pharma is to receive US$10m...

SwitzerlandSwitzerland

06.03.2012

Zug – Life Sciences specialist HBM partners has raised €90m in the first close of its HBM BioCapital II fund, which will invest in revenue-generating companies in the pharmaceuticals, medical device and diagnostics sectors....

SwitzerlandSwitzerland

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...

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