News

Upsher-Smith to take over Proximagen
Enlarge image

BusinessUKSweden

Upsher-Smith to take over Proximagen

15.06.2012 - US pharma firm Upsher-Smith Laboratories makes a bid to acquire UK-based drug developer Proximagen

London/Cambridge/ Maple Grove – Upsher-Smith’s $553m bid to bag Proximagen Group plc will add two promising drugs to the portfolio of the generics maker. In detail, the US firm will pay $347 million for the 84% outstanding shares of Proximagen, a 16% premium on its share price before the bid. Additionally, milestones totalling $206 million will be paid in case of successful development of two pipeline compounds to the British firm. 

RRX00933 is a vascular adhesion protein 1 blocker which is currently in safety testing. The plan is to develop the small molecule, which in pre-clinical work, blocked immune cells from entering inflamed tissue in autoimmune diseases such as rheumatoid arthritis and psoriasis.  Upsher-Smith said that it plans to license the compound to a partner after successful completion of Phase II testing next year. The second compound, dubbed PRX00933 (BVT.933, GW876167), which was obtained by Swedish Biovitrum, targets the Serotonin (5-HT2C) receptor and has already completed Phase II testing as an diabetes and obesity treatment. 

On top of this, the acquisition provides the US firm with a pipeline of four CNS projects. The compounds may complement a late-stage project of the US firm in epilepsy.

http://www.european-biotechnology-news.com/news/news/2012-02/upsher-smith-to-take-over-proximagen.html

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

BusinessGermany

24.08.2014 Germany's Morphosys is licensing a preclinical bi-specific antibody for the treatment of prostate cancer from Emergent Biosolutions. The US developer will rake in up to €138m for the commercialisation rights to the compound.

BusinessUK

20.08.2014 Biopharmaceutical contract manufacturer Fujifilm Diosynth Biotechnologies is expanding its cell culture manufacturing capacity further with a new 2,000l single-use bioreactor at the company’s site in Billingham, UK.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • WILEX2.48 EUR3.77%
  • 4SC1.12 EUR2.75%
  • VITA 344.00 EUR2.04%

FLOP

  • ADDEX2.99 CHF-7.14%
  • BIOFRONTERA2.18 EUR-5.22%
  • SARTORIUS94.26 EUR-3.32%

TOP

  • SANTHERA92.00 CHF35.4%
  • PAION2.98 EUR23.1%
  • CO.DON3.02 EUR20.8%

FLOP

  • ADDEX2.99 CHF-25.8%
  • EVOTEC3.00 EUR-19.4%
  • MEDIGENE4.03 EUR-13.3%

TOP

  • SANTHERA92.00 CHF2188.6%
  • CO.DON3.02 EUR235.6%
  • PAION2.98 EUR186.5%

FLOP

  • CYTOS0.24 CHF-94.0%
  • MERCK KGAA67.23 EUR-41.0%
  • THERAMETRICS0.09 CHF-40.0%

No liability assumed, Date: 17.09.2014