News

New US contracts cool conflict
Enlarge image

BusinessDenmark

New US contracts cool conflict

15.11.2012 - Despite an ongoing dispute, the US government has signed two new contracts with Danish vaccine developer Bavarian Nordic.

The Danish drugmaker announced the closing of two new contracts with the U.S. Department of Homeland Security (DHS) and the National Institutes of Health (NIH). The contracts were valued at up to US$18.9m for the development of recombinant Modified Vaccinia virus Ankara (MVA) vaccines.

The NIH contract, valued at up to US$17.9m, supports the advanced development of an MVA-based human vaccine against the viral haemorrhagic fever Marburg. The DHS contract, valued at nearly US$1m, supports the development of an MVA-based animal vaccine against Foot-and-mouth disease. "These new contracts demonstrate the versatility of our MVA platform for infectious disease vaccines and cancer immunotherapeutics," said Anders Hedegaard, President and CEO of Bavarian Nordic A/S.

Bavarian Nordic is currently in an argument with the US government. Denmark's biggest drugmaker accuses its customer not to fulfil the conditions of a 2007 contract worth US$500m. The government had promised to order 20 million doses of a smallpox vaccine that has less side effects than common ones. As Bloomberg noted, the biotech company had said in August that it would have to shed hundreds of jobs and shut down a plant if the U.S. government didn't order more of the vaccine until January.

© eurobiotechnews.eu/pd

http://www.european-biotechnology-news.com/news/news/2012-04/new-us-contracts-cool-conflict.html

PoliticsSwitzerland

23.10.2014 Just one day before its planned initial listing, Swiss Molecular Partners has cancelled its IPO. The reason: "unfavourable market conditions".

PoliticsEU

23.10.2014 Jean-Claude Juncker can breathe a sigh of relief as MEPs voted “yes” by a large majority to his team of European Union Commissioners. Previous to the vote, Juncker had shifted the EMA back to the health commissioner in response to protests.

FinancingFrance

21.10.2014 Yet another European company is looking for money on the US stock exchange – French DBV Technologies SA is all set up for its secondary listing on NASDAQ. The French biotech company hopes to rake in US$98m for its peanut allergy patches.

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 Abandoned at the altar: Abbvie has dropped plans to acquire UK’s Shire following new US tax rules. This puts a stop to one of the biggest pharma mergers planned this year.

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.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • 4SC0.97 EUR0.00%
  • ACTELION112.40 CHF0.00%
  • ADDEX3.30 CHF0.00%

FLOP

  • CYTOTOOLS31.45 EUR-0.47%
  • 4SC0.97 EUR0.00%
  • ACTELION112.40 CHF0.00%

TOP

  • BIOFRONTERA2.90 EUR31.8%
  • VITA 344.32 EUR7.2%
  • BB BIOTECH157.70 EUR6.1%

FLOP

  • PAION2.24 EUR-27.7%
  • CYTOS0.16 CHF-23.8%
  • MAGFORCE5.90 EUR-16.9%

TOP

  • SANTHERA85.50 CHF2288.3%
  • CO.DON2.75 EUR183.5%
  • PAION2.24 EUR143.5%

FLOP

  • CYTOS0.16 CHF-95.9%
  • 4SC0.97 EUR-44.3%
  • THERAMETRICS0.08 CHF-42.9%

No liability assumed, Date: 25.10.2014