News

Merck fulfills spin-off promise
Enlarge image

BusinessSwitzerlandGermany

Merck fulfills spin-off promise

01.08.2012 - Merck Serono has spun off the first company as part of its Entrepreneur Partnership Program. The project was launched in April 2012 when mother company Merck KGaA in Darmstadt had decided to end its activities in Geneva.

Newco Prexton Therapeutics will be formed around Merck Serono's R&D portfolio in the field of Parkinson's disease and will focus on programmes that target the metabotropic glutamate receptors mGluR3 and mGluR4. Prexton will be hosted in the offices and laboratory of Eclosion, a biotech start-up incubator supported by the Geneva authorities and Merck Serono which will invest €2.1m as seed funding. Helping spin-off companies such as Prexton was one of Merck Serono’s proposals to employee groups unsatisfied by social plan and severance options. In total, the pharma has reserved €30m to back start-ups by employees at its operations in Geneva. Prexton will be run by a team of Merck Serono scientists, with a member of Merck Serono Ventures on the board of directors.

http://www.european-biotechnology-news.com/news/news/2012-03/merck-fulfills-spin-off-promise.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 CHF2139.1%
  • CO.DON2.58 EUR163.3%
  • PAION2.22 EUR141.3%

FLOP

  • CYTOS0.17 CHF-95.7%
  • 4SC0.87 EUR-50.6%
  • THERAMETRICS0.07 CHF-50.0%

No liability assumed, Date: 19.10.2014