News

Sygnis grabs X-Pol
Enlarge image

BusinessSpainGermany

Sygnis grabs X-Pol

20.07.2012 - Sygnis Pharma is acquiring Spanish sequencing technology specialist X-Pol Biotech S.L., a subsidiary of Genetrix Life Sciences A.B. The German biotech said the move is a step forward into the molecular diagnostics business.

Under terms of the proposed deal Sygnis will take 100% ownership of X-Pol through a capital increase against contribution in kind. Once the transaction has been completed, existing X-Pol shareholders will hold 77.5% of all shares in Sygnis. The proposed terms of the deal have been approved by both firms’ executive and supervisory boards.

Madrid-based X-Pol was founded in 2008 to develop tools and technologies for DNA amplification and sequencing. Currently 84% owned by biotech incubator Genetrix. The lead product, Qualiphi polymerase, was recently licensed to Qiagen. X-Pol claims its DNA polymerases demonstrate unique properties that boost the performance of DNA amplification, and can be applied for a wide range of applications in DNA amplification, repair, sequencing, and genetic modification.

Sygnis said the acquisition of X-Pol will represent a major shift in its business focus. To date, the firm has specialised in the development of therapies for central nervous system disorders. Its pipeline was headed by a granulocyte colony–stimulating factor candidate filgrastim (AX200), which was evaluated in a Phase II trial as a treatment for ischemic stroke. However, the study data, reported in December 2011, failed to show any benefits of therapy using AX200. Sygnis confirmed in February that it was looking at M&A opportunities or other financing options. The Heidelberg-based firm said the aim will be to build the X-Pol DNA sequencing business and related activities within the field of molecular diagnostics. “The company will have an entirely new focus and business and will provide a lower risk profile with the near-term visibility of revenues and profitability”, Sygnis-CFO Peter Willinger said.

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • PHARMING (NL)0.48 EUR11.63%
  • MDX HEALTH (B)3.80 EUR10.79%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK8.53%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • NOVACYT (F)4.46 EUR-10.26%

TOP

  • WILEX (D)2.82 EUR243.9%
  • NEUROVIVE PHARMACEUTICAL AB (S)70.00 SEK44.3%
  • Allergy Therapeutics (UK)20.00 GBP34.4%

FLOP

  • HYBRIGENICS (F)1.72 EUR-28.0%
  • PROSENSA (NL)9.67 USD-23.4%
  • PROTHENA PLC (IE)17.79 USD-21.1%

TOP

  • SANTHERA (CH)59.90 CHF2836.3%
  • GW PHARMACEUTICALS (UK)431.00 GBP656.1%
  • PAION (D)2.42 EUR272.3%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.7%
  • CYTOS (CH)0.27 CHF-92.0%
  • PROSENSA (NL)9.67 USD-70.9%

No liability assumed, Date: 31.07.2014