News

Lundbeck places €10m in Biotie
Enlarge image

BusinessDenmarkFinland

Lundbeck places €10m in Biotie

10.09.2012 - The Scandinavian duo Lundbeck and Biotie agreed on a deal that includes a €10m equity investment and amended commercialisation rights.

Danish H. Lundbeck A/S from Copenhagen trusts in Biotie Therapies Corp. from Turku (Finland). First clinical data from pivotal Phase III studies with Selincro (nalmefene) were presented earlier this year. Despite being not overly compelling to the public – and a data update being overdue – the results seem to be convincing enough for the two collaborating partners to strengthen their ties.

On 7 September, Lundbeck invested €10m in Biotie by subscribing for 18,604,651 shares (€0.5375 per share). This represents an 4.6% equity stake after the share issue as the share capital of Biotie is now increasing to €176m. The investment comes with an amended license agreement. Biotie is now eligible for up to €89m in upfront and milestone payments which includes now a €5m sales milestone for Japan in comparison with the old agreement. The deal also includes a reduction in royalties on the sales on markets outside the EU, the EFTA and the US, which puts Lundbeck in the position to launch Selincro at a more competitive price.

Lundbeck holds the worldwide development and commercialisation rights to Selincro. The marketing authorisation for the EU was already filed in December 2011. A decision by the EMA is expected this year. Selincro is a small molecule opioid receptor antagonist that inhibits the reward pathway in the brain that reinforces the desire and craving for alcohol and other addictive substances. As a result, Selincro targets a novel principle in the treatment of alcohol dependence by removing a person’s desire to drink.

http://www.european-biotechnology-news.com/news/news/2012-03/lundbeck-places-eur10m-in-biotie.html

Swiss Biotech DaySwitzerland

16.04.2015 The Swiss biotech industry can look back on 2014 as a good year, but political uncertainties do remain. This was one of the topics discussed during the Swiss Biotech Day in Basel, which attracted more than 400 participants.

EventEUFrance

16.04.2015 The changing landscape in healthcare was just one of the hotly discussed topics of the 27th Annual EuroMeeting of the international association DIA.

R&DBelgium

14.04.2015 Belgian Thrombogenics NV has launched a new oncology company with Gent-based life sciences institute VIB. The new venture will develop an antibody for the treatment of a fast-growing brain tumour that affects children and adolescents.

Stock MarketsEUFranceUKNorwaySweden

09.04.2015 The European public markets remain highly attractive for biotech companies. Twice as many companies went public in the first quarter of 2015 than during the same period last year.

FinancingAustriaUKSwitzerlandGermany

08.04.2015 To bring its lead product of a new class of antimicrobials to phase 3 trials, Nabriva Therapeutics has completed a US$120m Series B financing.

Research & DevelopmentNetherlands

07.04.2015 Gene therapy is attracting more and more big pharma companies. Now, Bristol-Myers Squibb has forged a US$1bn collaboration with Dutch uniQure, also picking up a 4.9% share in the company.

Stock MarketsFrance

02.04.2015 Sensorion is the latest French biotech to go public, following a spate of IPOs on Paris Euronext. The biopharma plans for a €12m IPO to finance its pipeline of inner ear disease drugs.

M&AIreland

31.03.2015 In its aim to expand its drug portfolio in orphan disease products, Horizon Pharma has acquired US company Hyperion Therapeutics for US$1.1bn in cash. The takeover entitles the UK biopharma to all of Hyperion’s common stock.

BusinessGermany

31.03.2015 Merck Serono has forged a US$941m (€876m) deal with US Intrexon for the development and commercialisation of CAR-T therapies. The new CAR-T projects are set to strengthen their R&D technology portfolio in immuno-oncology.

Stock MarketsFranceEU

27.03.2015 Europe is once more proving that it can be a good bet for biotech companies going public. A newly established EU-wide lobbying initiative could help the IPO boom on its way.

Events

All Events

Partner-Events

München

BioVaria 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MORPHOSYS64.50 EUR6.19%
  • CO.DON3.10 EUR4.38%
  • 4SC1.23 EUR4.24%

FLOP

  • THERAMETRICS0.07 CHF-12.50%
  • CYTOS1.24 CHF-3.12%
  • SANTHERA97.60 CHF-2.16%

TOP

  • 4SC1.23 EUR78.3%
  • MEDIGENE13.14 EUR67.0%
  • FORMYCON31.20 EUR31.9%

FLOP

  • THERAMETRICS0.07 CHF-12.5%
  • EPIGENOMICS5.32 EUR-10.4%
  • BB BIOTECH290.10 EUR-8.4%

TOP

  • SANTHERA97.60 CHF2649.3%
  • CYTOS1.24 CHF629.4%
  • FORMYCON31.20 EUR339.4%

FLOP

  • MOLOGEN5.11 EUR-52.7%
  • THERAMETRICS0.07 CHF-30.0%
  • BIOFRONTERA2.58 EUR-20.9%

No liability assumed, Date: 20.04.2015