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

BioeconomyEU

26.08.2015 In its second call for proposals, the Bio-Based Industries Joint Undertaking has earmarked €106m for the research and development of useful bio-based products.

OncologyNorway

25.08.2015 Oslo Cancer Cluster is inaugurating its NOK1bn (€107m) Innovation Park. None other than Norwegian prime minister Erna Solberg officially opened the doors to the research park on August 24th.

LicensingUKSwitzerland

21.08.2015 Novartis Pharma AG has secured all remaining rights to antibody hopeful ofatumumab. Seller GlaxoSmithKline is set to receive up to US$1bn (€919m) for the treatment for MS and other autoimmune indications.

LicensingDenmark

18.08.2015 Danish Novo Nordisk is climbing on the antibody therapeutics bandwagon in a US$500m licensing agreement with antibody-specialist Genmab.

M&ASwitzerland

13.08.2015 Roche is stepping up its commitment in the fight against drug resistant “superbugs” with its takeover of US diagnostics play Geneweave, for up to US$425m.

M&AUK

11.08.2015 Biotech bug controllers Oxitec has been bought by US biotech Intrexon Corporation for $160m (€145m). The Oxford University spin-out specialises in environmentally friendly technology to control pests such as mosquitoes, which cause dengue fever and other diseases.

Research and DevelopmentFranceGermany

07.08.2015 In a deal worth more than €300m, Sanofi has partnered up with German drug discovery and development company Evotec in order to develop beta cell-modulating diabetes therapies.

M&AIrelandUK

05.08.2015 Irish pharma and biotech major Shire wants to be number one in orphan diseases, and is setting out to acquire US-American Baxalta in a US$30bn deal – by any means necessary.

R&DUKSweden

04.08.2015 In a deal worth US$65m upfront, AstraZeneca is again teaming up with long-time partner Isis Pharmaceuticals Inc., this time to discover and develop RNA antisense drugs for cardiovascular, metabolic and renal diseases.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • NORDIC NANOVECTOR (N)24.00 NOK23.71%
  • TRANSGENE (F)4.72 EUR23.56%
  • BAVARIAN NORDIC (D)41.03 EUR20.85%

FLOP

  • THROMBOGENICS (B)3.09 EUR-20.97%
  • ZELTIA (E)3.35 EUR-12.76%
  • OXFORD BIOMEDICA (UK)8.00 GBP-12.09%

TOP

  • KARO BIO (S)38.50 SEK2383.9%
  • TRANSGENE (F)4.72 EUR63.9%
  • BIOTECH PHARMACON (N)12.50 NOK33.7%

FLOP

  • THROMBOGENICS (B)3.09 EUR-42.4%
  • WILEX (D)2.05 EUR-41.4%
  • BIONOR PHARMA (N)1.26 NOK-39.4%

TOP

  • KARO BIO (S)38.50 SEK4595.1%
  • ADOCIA (F)87.65 EUR439.1%
  • GALAPAGOS (B)54.02 EUR324.7%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-85.7%
  • BIOTEST (D)19.84 EUR-76.1%
  • NEOVACS (F)0.89 EUR-74.9%

No liability assumed, Date: 27.08.2015