News

Fresh bucks for heart failure drug
Enlarge image

FinanceSwitzerland

Fresh bucks for heart failure drug

18.09.2014 - Swiss biopharma Cardiorentis has received a €45m investment from overseas investment firm Healthcare Royalty Partners in order to finance the registration for its heart drug.

Cardiorentis, a privately held biopharmaceutical company, has entered into a financing agreement with US healthcare investor HC Royalty. Zug-based Cardiorentis aims to use the proceeds to finance the registration programme for Ularitide, their natriuretic peptide product for the treatment of acute heart failure. The Phase III trial for the drug was initiated in August 2012. It is led by the international principal investigator Milton Packer, M.D., The University of Texas, Southwestern Medical Center in Dallas, Texas, and includes over 200 centres across the US, Europe, Canada and Latin America. Ularitide would be the first therapy with proven outcome benefits for patients with acute heart failure – a condition that affects millions of people worldwide.

"We are impressed with the significant clinical progress that Cardiorentis has made with Ularitide," commented Clarke Futch, Founding Managing Director at HC Royalty. Johannes Holzmeister, Cardiorentis’ CEO added: "This is a pivotal time for our company. The team at HC Royalty understood the attractiveness of our programme and our financing needs and then developed a structure that would give us a high degree of flexibility, but also a sizeable amount of capital to complete our pivotal Phase III trial for Ularitide."


© european-biotechnology-news.com/um

http://www.european-biotechnology-news.com/news/news/2014-03/fresh-money-for-heart-failure-drug.html

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

BusinessGermany

24.08.2014 Germany's Morphosys is licensing a preclinical bi-specific antibody for the treatment of prostate cancer from Emergent Biosolutions. The US developer will rake in up to €138m for the commercialisation rights to the compound.

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/news/news.html?cHash=12816a46393f66f5eba2124c4ccf3dc7&sort=asc

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • ADDEX3.13 CHF4.68%
  • CO.DON3.15 EUR4.30%
  • BB BIOTECH146.25 EUR2.17%

FLOP

  • WILEX2.35 EUR-5.24%
  • SANTHERA89.15 CHF-3.10%
  • EVOTEC2.93 EUR-2.33%

TOP

  • SANTHERA89.15 CHF31.2%
  • CO.DON3.15 EUR26.0%
  • PAION3.01 EUR24.4%

FLOP

  • ADDEX3.13 CHF-22.3%
  • EVOTEC2.93 EUR-21.2%
  • MEDIGENE3.95 EUR-15.1%

TOP

  • SANTHERA89.15 CHF2117.7%
  • CO.DON3.15 EUR250.0%
  • PAION3.01 EUR189.4%

FLOP

  • CYTOS0.24 CHF-94.0%
  • MERCK KGAA67.67 EUR-40.6%
  • THERAMETRICS0.09 CHF-40.0%

No liability assumed, Date: 17.09.2014