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.

http://www.european-biotechnology-news.com/news/news/2012-03/sygnis-grabs-x-pol.html

M&AIreland

28.07.2015 Irish Allergan is bolstering its product pipeline with a takeover of CNS specialist Naurex. At the same time, the company is divesting its global generics business to Teva.

Public marketGermanyFranceBelgiumFinlandDenmarkUK

24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.

FinanceFrance

23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.

BioplasticsFrance

21.07.2015 French biotech Deinove has launched a R&D programme to produce the versatile chemical intermediate muconic acid by using a designer variant of the Deinococcus bacteria.

BusinessFrance

16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.

R&DUK

15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.

FundingUK

13.07.2015 UK drug developer ReNeuron has pulled in £68.4m (€96m) for its cell therapy pipeline for stroke and blindness treatments. Biotech guru Neil Woodford increases his fund’s stake in ReNeuron.

BusinessSweden

10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.

M&AIreland

08.07.2015 Horizon Pharma plc. has set its sights on US-American speciality pharma company Depomed Inc. After getting nowhere with the rival’s board, Horizon has now launched a US$3bn hostile bid for the pain and CNS specialist.

BusinessIreland

07.07.2015 Irish pharma play Allergan plc. is boosting its eye care business by acquiring US-American medtech company Oculeve. Included in the deal are Oculeve’s dry eye disease development programmes.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • PROTHENA PLC (IE)68.70 USD9.45%
  • HYBRIGENICS (F)1.63 EUR9.40%
  • PHARMING (NL)0.34 EUR6.25%

FLOP

  • SERODUS (N)2.60 NOK-15.58%
  • ZELTIA (E)3.69 EUR-8.44%
  • IXICO (UK)33.00 GBP-7.04%

TOP

  • DBV TECHNOLOGIES (F)77.15 EUR48.4%
  • IXICO (UK)33.00 GBP46.7%
  • ADOCIA (F)90.05 EUR40.7%

FLOP

  • BIOTEST (D)25.67 EUR-63.3%
  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • BIOTECH PHARMACON (N)9.35 NOK-46.0%

TOP

  • ADOCIA (F)90.05 EUR543.7%
  • FORMYCON (D)27.30 EUR298.5%
  • PROTHENA PLC (IE)68.70 USD295.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-88.9%
  • NEOVACS (F)1.05 EUR-70.1%
  • BIOTEST (D)25.67 EUR-68.7%

No liability assumed, Date: 28.07.2015