12.12.2012 - Amgen will buy deCODE Genetics for US$415m in cash. The US firm gains access to a pioneering genetics platform that has a history with steep turns.
By purchasing deCODE of Iceland, Amgen will intensify efforts to boost its drive to develop targeted drugs. Founded in 1996, deCODE Genetics specialises in analysing and understanding the links between the genome and disease susceptibility, through using its access to a well-defined population in Iceland. The company has discovered genetic risk factors for a number of diseases ranging from cardiovascular illnesses to cancer. However, deCODE failed to fulfill early expectations after going public in 2000. In 2009, the biotech filed for bankruptcy protection, loaded with 13 years of unfulfilled hopes of investors and the influence of the financial crisis. However, the two renowned investors Polaris and Arch believed in the future of deCODE's business model and pulled the company from the stock market.
According to Fierce Biotech, Polaris and Arch purchased the assets originally for only US-$14m. "deCODE Genetics has built a world-class capability in the study of the genetics of human disease," said Robert Bradway, president and CEO at Amgen. "This capability will enhance our efforts to identify and validate human disease targets. This fits perfectly with our objective to pursue rapid development of relevant molecules that reach the right disease targets while avoiding investments in programs based on less well-validated targets." "One of the ways to truly realise the full value of human genetics, is to make our research synergistic with drug development efforts, where target discovery, validation and prioritisation efforts can be accelerated," said Kari Stefansson, founder and CEO at deCODE Genetics, who will stay with the company.
27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).
21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.
21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.
19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.
15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.
13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.
12.04.2016 German-Dutch life science investment specialist Forbion Capital Partners has raised more than €180m for its venture capital fund Forbion Capital Fund III. Once more the money will primarily go to European start-ups.
08.04.2016 Do you win by being innovative?, was the question asked at this year’s DIA Euromeeting in Hamburg. In a relaxed and cooperative atmosphere, regulators, physicians and patients had ample opportunity to interact with the healthcare industry.
07.04.2016 Pfizer and Allergan have called off their merger, cancelling plans to relocate the US pharma giant to Ireland to avoid US taxation. The US government has put a spoke in Pfizer’s wheels - an unfair move, Allergan says.