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

FinancingSpain

04.05.2016 Barcelona-based epigenetics expert Oryzon Genomics has closed a debt funding round of €10.5m, bringing the total money raised since last year to €27m. The funds will serve to advance the company’s two LSD1 inhibitors in cancer and neurodegeneration.

Open InnovationFrance

03.05.2016 Ipsen is strengthening its ties to long-time development partner Oncodesign, a Dijon-based cancer treatment biotech. The French pharma is handing over the pre-clinical pharmacology for its oncology research programmes to Oncodesign.

FinancingSwitzerlandEU

29.04.2016 Swiss bank Group UBS has raised US$471m (€412m) for the UBS Oncology Impact Fund, which was set up to invest in early-stage cancer treatments. The money raised by the fund, nearly half of which comes from investors in Asia, is the largest amount ever raised for such a cancer investment fund.

Industry reportGermany

27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).

Clinical ResearchFrancePortugal

21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.

Immuno-oncologyNetherlandsBelgium

21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.

RegulatorySwitzerlandEU

20.04.2016 The US government is forking out up to US$100m to get Basilea Pharmaceutica’s broad-spectrum antibiotic ceftobiprole on the US market. In the EU, ceftobiprole is already available.

Immuno-oncologyUK

19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.

FinancingSwitzerlandFranceEUGermanyDenmark

15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.

Event ReviewSwitzerlandBelgiumEU

13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.

Quick news provided by GlobeNewswire

View more stock news

Events

All Events

Partner-Events

München

BioVaria 2016

Berlin (GER)

XIV. BIONNALE 2016

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BIOTIE THERAPEUTICS (FI)0.27 EUR92.86%
  • PLETHORA (UK)3.38 GBP12.67%
  • KAROLINSKA (S)7.85 SEK9.03%

FLOP

  • PROTHENA PLC (IE)38.59 USD-7.15%
  • MEDIGENE (D)8.15 EUR-6.21%
  • ADOCIA (F)56.55 EUR-5.10%

TOP

  • BIOFRONTERA (D)3.24 EUR38.5%
  • SYNAIRGEN (UK)35.00 GBP34.6%
  • SWEDISH ORPHAN BIOVITRUM (S)15.24 USD27.5%

FLOP

  • EVOCUTIS (UK)0.05 GBP-28.6%
  • THERAMETRICS (CH)0.03 CHF-25.0%
  • OREXO (S)47.10 SEK-22.1%

TOP

  • CHRONTECH PHARMA (S)0.34 SEK3300.0%
  • KARO BIO (S)28.40 SEK1818.9%
  • NICOX (F)8.27 EUR335.3%

FLOP

  • NEUROVIVE PHARMACEUTICAL AB (S)6.30 SEK-87.7%
  • BB BIOTECH (D)44.10 EUR-83.1%
  • CYTOS (CH)0.25 CHF-78.6%

No liability assumed, Date: 05.05.2016