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

Stock MarketsIrelandUK

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.

LicencingDenmark

05.03.2015 Bavarian Nordic is outlicensing its Phase 3 prostate cancer immunotherapy Prostvac to pharma heavyweight Bristol Myers Squibb for a tidy €881m.

BusinessUK

03.03.2015 After weeks of speculation, AstraZeneca has announced its plans to spin out its early-stage antibiotic R&D. The decision marks the company’s aims to “sharpen its focus on three main therapy areas”.

GenericsEUUKHungaryGermanyItalyGreeceAustriaLuxembourgFranceSpain

26.02.2015 It is the first biosimilar monoclonal antibody in many European markets: Mundipharma and Hospira are launching Celltrion’s Remicade generic.

M&AUK

23.02.2015 British drug developer Heptares has been acquired by Japanese biopharma play Sosei for US$400m (€352m).

bioethanolGermanyUKBelgiumFrance

19.02.2015 The price of oil has been sliding for months, and the European bioethanol market is taking it hard. CropEnergies AG has now stopped production at its British unit Ensus UK.

BusinessFranceGermany

17.02.2015 After Christopher Viehbacher’s unceremonious ousting last year, Sanofi has been on the look out for a new CEO. Now, sources say Bayer’s Olivier Brandicourt is set to fill the position.

BusinessUKSwitzerland

12.02.2015 Glaxosmithkline is intent on bolstering its vaccine portfolio further and has bought all shares of Swiss development partner Glycovaxyn.

InvestmentsUKEU

10.02.2015 Interest in biotechnology is on the rise among British investors. Not just one, but two major financiers are planning investment funds in the field.

Events

All Events

Partner-Events

Planegg/Martinsried

1st Munich Biotech Pitch

Berlin (DE)

Proteomic Forum 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CYTOS1.30 CHF176.60%
  • MEDIGENE4.97 EUR9.23%
  • FORMYCON18.70 EUR7.47%

FLOP

  • VITA 345.30 EUR-5.36%
  • BIOFRONTERA1.98 EUR-4.35%
  • ADDEX3.06 CHF-3.16%

TOP

  • CYTOS1.30 CHF282.4%
  • WILEX3.23 EUR51.6%
  • FORMYCON18.70 EUR25.1%

FLOP

  • MOLOGEN5.13 EUR-16.0%
  • SANTHERA96.10 CHF-12.4%
  • MAGFORCE5.44 EUR-10.8%

TOP

  • SANTHERA96.10 CHF2339.1%
  • WILEX3.23 EUR429.5%
  • FORMYCON18.70 EUR142.9%

FLOP

  • MOLOGEN5.13 EUR-56.7%
  • PAION2.06 EUR-54.6%
  • CYTOS1.30 CHF-54.4%

No liability assumed, Date: 05.03.2015