News

Good news doesn’t cancel out the bad stuff
Enlarge image

BusinessSwitzerland

Good news doesn’t cancel out the bad stuff

17.04.2012 - Swiss Addex has announced positive results from ongoing studies.
Yet it is dismissing 28 workers – perhaps a delayed effect from bad news last fall.

Geneva – On April 16, only three days after the announcement that its ongoing restructuring efforts will result in laying off 28 employees, Swiss Addex Therapeutics reported positive preclinical data for its lead GABA-B receptor modulator. The orally administered small molecule ADX71441 is a positive allosteric modulator (PAM). In both guinea pig and mouse studies, the selective activation of GABA-B alleviated symptoms in disease-relevant models of  overactive bladder (OAB). While Addex aims for IND/CTA filing before the end of the year, another PAM is already being evaluated in a Phase 2a clinical trial by Addex’ partner Janssen Pharmaceuticals. Activating the glutamate receptor mGluR2 with ADX71449 is being tested to treat schizophrenia.

Yet even better news was publicised in March when Addex reported that in a Phase 2a clinical trial, all key objectives had been achieved: Parkinson’s disease patients suffering from levodopa-induced dyskinesia (LID) were given oral dipraglurant, a small molecule allosteric modulator selectively inhibiting the glutamate receptor mGluR5. The compound not only proved to be safe and tolerable but also significantly reduced dyskinesia severity. In terms of sentiment, however, this news doesn’t make up for the announced workforce cut required. President and CEO of Addex, Bharatt Chowrira, said: „We deeply regret the loss of people’s jobs at Addex but we believe it is necessary to improve the operational efficiency.“

Addex was forced to sail close to the wind last November when Merck & Co. opted not to continue the joint development of ADX88178, a PAM targeting mGluR4. The drug is also assigned to treat Parkinson’s disease. The current lay-offs could very well be the delayed effects of Merck leaving Addex high and dry. 

http://www.european-biotechnology-news.com/news/news/2012-02/good-news-doesnt-cancel-out-the-bad-stuff.html

Swiss Biotech DaySwitzerland

16.04.2015 The Swiss biotech industry can look back on 2014 as a good year, but political uncertainties do remain. This was one of the topics discussed during the Swiss Biotech Day in Basel, which attracted more than 400 participants.

EventEUFrance

16.04.2015 The changing landscape in healthcare was just one of the hotly discussed topics of the 27th Annual EuroMeeting of the international association DIA.

R&DBelgium

14.04.2015 Belgian Thrombogenics NV has launched a new oncology company with Gent-based life sciences institute VIB. The new venture will develop an antibody for the treatment of a fast-growing brain tumour that affects children and adolescents.

Stock MarketsEUFranceUKNorwaySweden

09.04.2015 The European public markets remain highly attractive for biotech companies. Twice as many companies went public in the first quarter of 2015 than during the same period last year.

FinancingAustriaUKSwitzerlandGermany

08.04.2015 To bring its lead product of a new class of antimicrobials to phase 3 trials, Nabriva Therapeutics has completed a US$120m Series B financing.

Research & DevelopmentNetherlands

07.04.2015 Gene therapy is attracting more and more big pharma companies. Now, Bristol-Myers Squibb has forged a US$1bn collaboration with Dutch uniQure, also picking up a 4.9% share in the company.

Stock MarketsFrance

02.04.2015 Sensorion is the latest French biotech to go public, following a spate of IPOs on Paris Euronext. The biopharma plans for a €12m IPO to finance its pipeline of inner ear disease drugs.

M&AIreland

31.03.2015 In its aim to expand its drug portfolio in orphan disease products, Horizon Pharma has acquired US company Hyperion Therapeutics for US$1.1bn in cash. The takeover entitles the UK biopharma to all of Hyperion’s common stock.

BusinessGermany

31.03.2015 Merck Serono has forged a US$941m (€876m) deal with US Intrexon for the development and commercialisation of CAR-T therapies. The new CAR-T projects are set to strengthen their R&D technology portfolio in immuno-oncology.

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.

Events

All Events

Partner-Events

München

BioVaria 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CO.DON2.97 EUR2.41%
  • MOLOGEN5.06 EUR0.80%
  • CYTOS1.28 CHF0.79%

FLOP

  • MEDIGENE12.90 EUR-11.03%
  • 4SC1.18 EUR-5.60%
  • PAION2.37 EUR-5.58%

TOP

  • 4SC1.18 EUR71.0%
  • MEDIGENE12.90 EUR63.9%
  • FORMYCON31.00 EUR31.1%

FLOP

  • MORPHOSYS60.74 EUR-13.0%
  • BB BIOTECH281.20 EUR-11.2%
  • EPIGENOMICS5.31 EUR-10.6%

TOP

  • SANTHERA99.75 CHF2709.9%
  • CYTOS1.28 CHF652.9%
  • FORMYCON31.00 EUR336.6%

FLOP

  • MOLOGEN5.06 EUR-53.1%
  • PAION2.37 EUR-22.3%
  • BIOFRONTERA2.57 EUR-21.2%

No liability assumed, Date: 18.04.2015