11.04.2012 - Spanish drug developer will focus internal resources on its late-stage compounds.
Madrid – Spanish drug developer PharmaMar SA has quit the further development of its Phase II drug candidate Irvalec due to financial reasons. According to the company, the marine-derived cyclic peptide has shown notable activity in a trial to treat gastroesophageal cancer specifically in large cell undifferentiated carcinomas of the esophagus. However, this subtype is relatively rare and represents only 1% of all gastroesophageal cancers. The company, a member of listed Zeltia Group, will focus its resources on other compounds like Yondelis and Aplidin. Yondelis is approved outside the US to treat advanced or metastatic soft tissue sarcoma and relapsed platinum-sensitive ovarian cancers. The conotoxin has additionally been tested as first-line therapy for this indication. Aplidin is in phase III to treat multiple myeloma and in phase II for T-cell lymphoma.
24.03.2015 Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.
23.03.2015 A BASF-led consortium aims to decrease bio-based production costs using industrial biotechnology. The Horizon2020 funded consortium is the sixth project of the SPIRE Public Private Partnership and has a budget of €14m.
17.03.2015 Pharma giants GlaxoSmithKline (GSK) and Johnson & Johnson (J&J) will be key collaborators in a new global fund for dementia research to address the rising threat posed by dementia and Alzheimer’s disease.
12.03.2015 With around 1,400 companies and 2,400 participants, the springtime counterpart of BIO-Europe enjoyed a successful premiere in France this year. The overall mood of the European biotech industry was positive, and the French hosts in particular reported new initiatives.
10.03.2015 The Gates Foundation has dipped into its purse to bring infectious diseases vaccines to the poorest countries. German vaccine specialist CureVac is set to receive US$52m for their mRNA platform technology.
05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.