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

FinancingDenmark

18.10.2014 After raising US$220.5m (€172m) with its IPO, fast Forward Pharma’s lucky streak hits an obstacle on the road to success with shares falling 17% on its first day of trading.

M&AUKItaly

17.10.2014 One of the biggest pharma mergers of the year has been called off. Abbvie has dropped plans to acquire UK’s Shire following new US tax rules.

FinancingUKBelgium

15.10.2014 Bicycle Therapeutics wins €25m backing by major pharma venture capitalists for the development of a new class of oncology drugs.

FinancingGermanySwitzerlandNetherlands

13.10.2014 Biotechnology IPOs are back in fashion – German Probiodrug AG wants to raise €32m with its IPO, whilst Swiss Molecular Partners AG hopes the launch of its IPO will gain a revenue of €145m.

BusinessIreland

10.10.2014 Actavis has announced plans to merge with American pharma company Durata - a move that will strengthen their infectious diseases portfolio.

RegulationEU

07.10.2014 In an unprecedented move, the European Medicines Agency has approved a system allowing the future analysis of clinical trial data.

FinanceNetherlandsEU

06.10.2014 Another fund from the Netherlands has raised €92m in its first close and will invest the money in companies developing innovative therapeutics, medical devices and diagnostics.

FinanceNetherlandsUKSwitzerland

03.10.2014 Dutch venture capitalist LSP has achieved its monetary milestone by raising €80m for its fifth fund - with a goal of €150m.

PoliticsEULithuaniaPoland

02.10.2014 New EU commission chief Jean-Claude Juncker is on the defensive after members of Parliament and NGOs criticised his reorganisation of the health technology units.

EbolaEUFrance

30.09.2014 In the face of the Ebola outbreak sweeping the West African countries, the EMA has started to review investigational treatments for the deadly virus disease.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MOLOGEN6.46 EUR16.82%
  • CYTOS0.17 CHF13.33%
  • WILEX2.25 EUR7.14%

FLOP

  • 4SC0.87 EUR-1.14%
  • CYTOTOOLS31.45 EUR-0.47%
  • ADDEX3.20 CHF0.00%

TOP

  • BIOFRONTERA2.88 EUR30.9%
  • ADDEX3.20 CHF3.2%
  • HBM84.00 CHF0.6%

FLOP

  • CYTOS0.17 CHF-29.2%
  • PAION2.22 EUR-27.2%
  • 4SC0.87 EUR-25.6%

TOP

  • SANTHERA82.40 CHF2085.7%
  • CO.DON2.58 EUR163.3%
  • PAION2.22 EUR146.7%

FLOP

  • CYTOS0.17 CHF-95.7%
  • 4SC0.87 EUR-50.8%
  • THERAMETRICS0.07 CHF-50.0%

No liability assumed, Date: 20.10.2014