News

Double blow for two biotechs
Enlarge image

BusinessSwedenBelgiumGermanySwitzerland

Double blow for two biotechs

06.06.2012 - A Belgian-Swedish partnership between BioInvent International AB and ThromboGenics NV has suffered two setbacks.

Heverlee/Lund/Basel – Both partners announced that Roche had returned the rights to TB403 in certain cancer and non-cancer indications, including ophthalmology. Clinical studies with TB-403 to-date have shown that it is safe and well tolerated. Roche's decision was due to the prioritisation of resources in the pharma's portfolio.  

TB-403 is a monoclonal antibody against placental growth factor (PlGF). PIGF is a naturally occurring protein that belongs to the family of vascular endothelial growth factors (VEGF) that promote the formation of blood vessels.  

Furthermore, the two biotechs decided to halt further development of TB-402, a long acting coagulant following disappointing head-to-head results with Bayer's Xarelto in venous thromboembolism (VTE). "This is probably the end of the collaboration. We will invite BioInvent to co-invest in TB-403 in ophtalmology but given their cash position we think it is unlikely that they will carry on", said Chris Buyse, CEO of Thrombogenics, to Scrip.

Thrombogenics shareprice dropped more than 20%, Bioinvent's stock was send down almost 60%. Both companies announced a partnership in 2004. As part of the original deal, Bioinvent contributed its antibody library while Thrombogenics brought research and clinical expertise.

http://www.european-biotechnology-news.com/news/news/2012-02/double-blow-for-two-biotechs.html

Stock MarketsFranceEU

27.03.2015 Europe is once more proving that it can be a good bet for biotech companies going public. A newly established EU-wide lobbying initiative could help the IPO boom on its way.

FinancingPoland

24.03.2015 Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.

BioeconomyFranceSwedenGermanyNetherlandsFinland

23.03.2015 A BASF-led consortium aims to decrease bio-based production costs using industrial biotechnology. The Horizon2020 funded consortium is the sixth project of the SPIRE Public Private Partnership and has a budget of €14m.

Stock MarketsFranceSwedenUKNorwayIreland

20.03.2015 There are no signs of inertia creeping into the European biotech industry this spring. A total of eight IPOs are set to go public by the end of the year’s first quarter.

FinancingUKEU

17.03.2015 Pharma giants GlaxoSmithKline (GSK) and Johnson & Johnson (J&J) will be key collaborators in a new global fund for dementia research to address the rising threat posed by dementia and Alzheimer’s disease.

FinancingFranceDenmarkSwedenGermany

19.03.2015 French venture capital firm Seventure Partners has raised a further €25m for its microbiome-focused Health for Life Capital Fund. It now stands at €100m.

EventsFranceEUSwitzerlandUKGermany

12.03.2015 With around 1,400 companies and 2,400 participants, the springtime counterpart of BIO-Europe enjoyed a successful premiere in France this year. The overall mood of the European biotech industry was positive, and the French hosts in particular reported new initiatives.

M&ABelgium

11.03.2015 Belgian cell-based therapeutics developer and CMO MaSTherCell SA has been acquired by US biotech Orgenesis Inc. for €23m.

FinancingGermany

10.03.2015 The Gates Foundation has dipped into its purse to bring infectious diseases vaccines to the poorest countries. German vaccine specialist CureVac is set to receive US$52m for their mRNA platform technology.

Stock MarketsIrelandUK

05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • THERAMETRICS0.09 CHF12.50%
  • FORMYCON24.58 EUR6.18%
  • CYTOS1.45 CHF3.57%

FLOP

  • MEDIGENE10.52 EUR-9.70%
  • BIOFRONTERA2.53 EUR-3.44%
  • 4SC1.25 EUR-2.34%

TOP

  • CYTOS1.45 CHF326.5%
  • MEDIGENE10.52 EUR147.5%
  • 4SC1.25 EUR60.3%

FLOP

  • MORPHOSYS56.55 EUR-24.4%
  • WILEX3.00 EUR-12.5%
  • BASILEA108.00 CHF-11.6%

TOP

  • SANTHERA92.40 CHF2210.0%
  • FORMYCON24.58 EUR241.4%
  • WILEX3.00 EUR188.5%

FLOP

  • CYTOS1.45 CHF-51.8%
  • MOLOGEN5.81 EUR-48.4%
  • PAION2.34 EUR-29.7%

No liability assumed, Date: 30.03.2015