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
20.07.2016 Belgian molecular diagnostics company Biocartis Group NV has raised €55m and will use the funds mainly to expand manufacturing capacities for its PCR-based molecular diagnostics system Idylla.
19.07.2016 It is Europe’s first gene therapy company to float on Euronext: Gensight raised €40m in its IPO. And it is not the only French company that has taken the leap in an uncertain market climate – Alzheimer’s expert Pharnext also went public.
18.07.2016 When NASA blasted off to the International Space Station on Monday morning, it had UK tech on board. A miniature DNA sequencer from Oxford Nanopore will be used to keep an eye on the ISS atmosphere – and may even analyse alien DNA one day.
13.07.2016 Cell Medica has acquired Swiss antibody specialist Delenex Therapeutics. The deal nets the British cellular therapeutics developer Delenex’ proprietory antibody fragment platform Pentrabody.
12.07.2016 Vienna-based vaccine specialist Themis Bioscience GmbH has secured broad access to a promising virus vaccine vector tech by extending its license agreement with French Institut Pasteur. Its goal: to develop a Zika vaccine.
07.07.2016 Californian biopharma Medivation has agreed to confidential negotiations with its suitors, in particular the French pharmaceutical company Sanofi, which aggressively has buffeted the cancer therapy specialist for months.
06.07.2016 The European Commission started an investigation into Illumina’s and Sequenom’s 2014 patent agreement, UK-competitor Premaitha Health said. The two US companies had agreed to pool their Noninvasive Prenatal Testing IP.
04.07.2016 Cinfa Biotech is shuffling for position on the lucrative biosimilar market. The Spanish-German company has published positive results in a study for a pegfilgrastim copycat with 172 healthy volunteers in Germany.
30.06.2016 UK’s Heptares Therapeutics and Paul Scherrer Institute spinoff leadXpro will collaborate to find new approaches for the determination of high-res X-ray structures of G protein-coupled receptors to find new drugs.
Merck’s advanced water purification system with new high-throughput line delivers up to 9,000 liters of pure water daily with real-time monitoring and ensures constant water quality with low and predictable running costs. more