27.08.2012 - The German antibody specialist Wilex AG has completed a capital increase to strengthen its capital base. The biotech sold 6.5 million new shares at a price of €3.70.
However not all the shares were sold for cash. As contribution in kind, the company’s largest shareholder Dievini Hopp BioTech Holding GmbH, the investment vehicle of the billionaire and SAP founder Dietmar Hopp, converted an existing loan granted to Wilex amounting to approximately €7.8m to 2.1 million new shares. This represents 32.5% of the total volume of the capital increase.This reduces Wilex' financial liabilities without adversely affecting cash reserves. Finally, Wilex receives gross proceeds of around €16.1m from the cash portion of the transaction. The company now owns about €24m in cash. Wilex runs a number of early and mid-stage clinical trials. However, the most important one is the phase III with the kidney cancer antibody Rencarex. Results for the test with the anti-EpCAM-mAb are anticipated for the end of this year. Rencarex is partnered with Prometheus Labs in the US.
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.