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Clavis' 2nd lead failed

03.04.2013 - Clavis Pharma has become a target for a take-over after its cancer drug delivery technology failed proof-of-concept for the second time.

In November, US partner Clovis Oncology said it will terminate its partnership with the Norwegian drug developer after CP-4126 , a liposomal formulation of the chemotherapeutic gemcitabine, failed to prove superiority to the original drug in a Phase IIb study. Yesterday, the company’s second lead, elacytarabine, fell through in a pivotal Phase III study on 380 patients with refractory blood cancer AML.

Median survival in the elacytarabine arm was 3.5 months, compared to 3.3 months in the control arm. Adverse events were comparable between the two arms, and no meaningful differences were observed in any subgroup analyses. “We will review the strategic options for the company during the coming weeks, and shareholders will be informed about the alternatives available at a later date. Immediate steps will be taken to minimise our expenditure going forward, while caring for those patients who are still benefiting from elacytarabine,“ said CEO Olaf Hellboe.

All studies with the compound have been suspended. Hellboe announced that Clavis has a short-list of private Scandinavian firms that may be interested in a take-over of the public company. "We have taken two products all way through development with lipid technology and both failed in the big final test," said Helleboe. "That means it will be very difficult to justify putting huge investments in another product with the same technology.“

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-01/clavis-2nd-lead-failed.html

Industry reportGermany

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).

Clinical ResearchFrancePortugal

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.

Immuno-oncologyNetherlandsBelgium

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.

RegulatorySwitzerlandEU

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Immuno-oncologyUK

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.

FinancingSwitzerlandFranceEUGermanyDenmark

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.

Event ReviewSwitzerlandBelgiumEU

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FinancingGermanyNetherlandsEU

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.

Event ReviewGermanyEU

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.

M&AIrelandEU

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.

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