20.06.2012 - The Danish small molecule lead discovery SME has raised enough money for international expansion, with planned operations in Sweden.
Copenhagen – In the past Nuevolution A/S from Copenhagen planned to expand operations in Sweden also. Now the Danish drug discovery company has the money to do so. On June 19, the enterprise announced that it had raised €11m in a new financing round. Jonas Brambeck, investment manager of the VC enterprise Industriefonden, said that "Nuevolution has shown the commercial use of their proprietary and innovative technology. The planned expansion in Sweden adds attractiveness to the investment." Besides that, Industrifonden has again involved investors Sunstone Capital, SEB Venture Capital and SEB Utvecklingsstiftelse in this round.
Nuevolution is situated in the Danish-Swedish biotech cluster Medicon Valley. Founded in 2001, the company quickly became a major developer of small molecule drugs. It owns a library collection of more than 1 billion small molecules and synthetic biologics. Using this biobank and its very own Chemetics® drug discovery platform, Nuevolution successfully screened for substances for companies like Merck & Co., GlaxoSmithKline, Novartis Pharma and Boehringer Ingelheim. The Chemetics® technology is especially useful when it comes down to the discovery of difficult-to-address protein-protein interactions. Based on a DNA labelling of their small molecule compounds, the method allows fast and cheap screening.
19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.
18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.
14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.
12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.
04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.