News

Hell-bent on a kidney drug
Enlarge image

BusinessSwedenUK

Hell-bent on a kidney drug

24.04.2012 - AstraZeneca offers Ardea Biosciences’ stock owners in total $1.26bn. A successful merger would add a kidney drug to its portfolio.

Stockholm  – Swedish-British pharma giant AstraZeneca plc wants to buy Californian biotech company Ardea Biosciences Inc.  On April 23, the companies entered into a definitive merger agreement. According to AstraZeneca’s offer, Ardea stock owners would receive $32 for each share certificate – a 54% increase when compared with last Friday’s closing call. This means a total cash value of $1.26bn. The transaction will be accomplished in Q2 or Q3. Ardea’s Board has recommended its stock owners to approve the deal.

Ardea, from San Diego, is a specialist in small-molecule therapeutics. AstraZeneca is especially keen on an Ardea development currently in Phase III – the inhibitor of the URAT1 transporter lesinurad (RDEA594).  It is a remedy against hyperuricaemia in patients with gout. In the ongoing clinical trials, lesinurad is tested for its potential as add-on treatment to both allopurinol and febuxostat – plus as monotherapy for patients intolerant to these two off-the-shelf drugs.  However, the filings for a New Drug Application in the US and a Marketing Authorisation Application in the EU are only planned for the first half of 2014.

Lesinurad is a first-in-class selective inhibitor of URAT1, a uric acid transporter in the proximal tubules of the kidney. In exchange for anions, URAT1 transports uric acid molecules back into the blood. Inhibiting the transporter leads to reduced reabsorption and alleviated hyperuricaemia

http://www.european-biotechnology-news.com/news/news/2012-02/hell-bent-on-a-kidney-drug-merger.html

M&AUKSweden

24.08.2016 Pharma major Pfizer is putting the cherry on top of its multi-billion-dollar takeover of Medivation with the acquisition of AstraZeneca’s antibiotics for a cool US$1.5bn. With the divestment, AZ aims to further sharpen its focus.

FinancingUK

23.08.2016 Cambridge University-allied investor Cambridge Innovation Capital has raised £75m (€87m) to reinvest in technology and healthcare companies. Among the backers were Woodford Investment and Winton Ventures.

R&DDenmark

19.08.2016 Together with partner Johnson & Johnson, Danish biotech Genmab is now one step closer to FDA approval with its combination treatment for multiple myeloma after its submission of a supplemental Biologics License Application. In July, Genmab was granted a Breakthrough Therapy Designation (BTD) for its blood cancer therapy.

ResearchUKEU

17.08.2016 Philip Hammond, the UK’S chancellor has announced the government will guarantee funding for EU-backed "structural and investment fund" projects whose timelines extend beyond the UK’s departure from the EU, provided the projects are signed prior to this year's Autumn Statement on the UK budget. The decision ensures continued funding for farmers, companies and institutions involved in the EU’s Horizon 2020 project. The move could cost the UK government up to £6bn (€6.9bn).

Stock marketsGermany

15.08.2016 Back in April, the American FDA gave the green light for the colorectal cancer-screening test Epi procolon. Now Berlin-based diagnostics specialist Epigenomics is considering a secondary listing in the US. A draft of the required registration document was confidentially submitted to the US Securities and Exchange Commission (SEC).

LicensingDenmark

11.08.2016 Danish Genmab AS has granted Gilead Sciences license to use its DuoBody technology platform to develop bispecific antibodies for the treatment of HIV. The deal is worth up to €252m.

Clinical developmentHungaryIreland

09.08.2016 Hungarian Gedeon Richter and Irish Allergan are staying on course in the face of dissappointing Phase III results for depression drug cariprazine. The partners will now begin another Phase III study needed for approval.

ImmunotherapySpain

08.08.2016 Araclon Biotech’s Alzheimer’s vaccine ABvac40 is going forward into Phase II after showing a good safety profile in Phase I. The promising trial results were presented at the Alzheimer’s Association International Conference.

ApprovalEU

04.08.2016 After a two-year pilot period, the EMA has published its report on its adaptive pathways approach. The agency plans to “explore the concept further” and will continue to accept proposals.

BusinessPolandUK

01.08.2016 Life science venture capital group Epidarex has launched Nodthera Ltd, a biotech based on research by Poland-based drug discovery company Selvita. The start-up aims to develop novel inhibitors of the NLRP3 inflammasome.

Quick news provided by GlobeNewswire

View more stock news

Events

All Events

Partner-Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NEWRON (CH)22.65 CHF9.69%
  • VERNALIS (UK)45.00 GBP4.65%
  • KARO BIO (S)40.00 SEK4.44%

FLOP

  • PROTHENA PLC (IE)50.02 USD-7.70%
  • FLAMEL TECHNOLOGIES (F)13.85 USD-6.98%
  • BIONOR PHARMA (N)0.44 NOK-6.38%

TOP

  • DIAMYD MEDICAL -B- (S)7.25 SEK68.6%
  • KARO BIO (S)40.00 SEK34.2%
  • NEWRON (CH)22.65 CHF33.6%

FLOP

  • BIONOR PHARMA (N)0.44 NOK-27.9%
  • NOVOZYMES (DK)284.40 DKK-14.0%
  • RENEURON (UK)2.75 GBP-12.7%

TOP

  • KARO BIO (S)40.00 SEK2497.4%
  • NICOX (F)10.26 EUR451.6%
  • SAREUM HOLDINGS (UK)0.74 GBP252.4%

FLOP

  • BB BIOTECH (D)46.74 EUR-81.7%
  • EVOCUTIS (UK)0.04 GBP-78.9%
  • NEUROVIVE PHARMACEUTICAL AB (S)5.50 SEK-71.4%

No liability assumed, Date: 24.08.2016