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.
03.07.2015 Biotech giant Biogen is investing CHF 1bn in a new pharmaceutical production plant in the Swiss town of Luterbach. Noted as one of the world’s oldest biotech firms, the new plant will create up to 400 jobs.
02.07.2015 Dutch biotech Amarna and Austrian Biomarker research centre CBmed have joined forces to develop several immunotherapies, including therapies against cancer and diabetes type 2. The joint venture will develop Amarna’s next generation viral vector platform.
30.06.2015 Pharma giant Novartis has bumped up its neuroscience portfolio with the recent purchase of Australian biotech Spinifex for a US$200m upfront payment plus US$500 in milestone payments. The acquisition is centred on Spinifex’ mid-stage pain drug EMA401.
24.06.2015 Swedish scientists have created artificial neurons that are capable of mimicking the function of human nerve cells. The researchers hope that, once minituarised, they may one day be used to restore disturbed neural function.
22.06.2015 For the 31st time, the ACHEMA has drawn the global chemical engineering and the process industry to Frankfurt. Although still overshadowed by petrol, the biobased economy is getting ready to step out into the limelight.
12.06.2015 The high-potential cancer immunotherapy market is fiercely fought, and small companies have trouble making their mark. Nordic companies Targovax and Oncos have joined forces to create a Nordic immuno-oncology champion named Polaris.
METTLER TOLEDO now offers a new family of high-precision weighing platforms that provide superior accuracy and reliability in harsh industrial conditions with flexibility to be used for many applications. more