News

Cubist bags GPCR drug
Enlarge image

BusinessUK

Cubist bags GPCR drug

08.01.2013 - US-based Cubist Pharmaceuticals and British Heptares sealed a €7.2m license deal. Cubist pays to snatch a drug candidate for an undisclosed GPCR target.

The small spin-off Heptares Therapeutics from Welwyn Garden City north of London has landed a license deal with US biopharma Cubist Pharmaceuticals, Inc. Heptares’ area of expertise are G-protein coupled receptors (GPCR). Cubist will pay €4.2m up front and €3.1m in research funding plus undisclosed milestone payments and royalties. Heptares, in return, uses its proprietary platform technology to screen for drug candidates targeting an unnamed GPCR specified by Cubist. The deal also includes an option for a second target. Financial details covering that part of the collaboration have been predetermined – but will not be made public. Both parties agreed that the preclinical development will be carried out solely by Cubist.

Heptares was spun off from the Medical Research Council in 2007. The company engineers stabilised GPCRs (so-called STaRs), circumventing the problematic handling of the otherwise labile receptors. The UK firm entered biopharma main stage only last spring when it became eligible to receive payments potentially equalling €145m. Back then Irish Shire plc licensed a Heptares-discovered preclinical antagonist of the GPCR A2A (see photo) which could turn to a new CNS disorders medicine. Also AstraZeneca and Novartis belong to Heptares’ customers.

© eurobiotechnews.eu/ml

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.

Stock marketNetherlandsUKBelgium

10.07.2014 Not one but two biopharma companies are seeking entry into the stock market: After Abzena raised €25m in an IPO earlier this week, Argen-x has followed suit and sold shares worth €40m.

M&AUKIreland

08.07.2014 Abbvie is determined to bring home British rare disease specialist Shire in a merger worth £30.1bn (€37.9bn). So far, Shire has rejected all offers from the US company.

M&ASwitzerland

04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.

M&AFranceGermany

03.07.2014 Nicox S.A. is stretching beyond the European market: The French eye health specialist is set to acquire Aciex Therapeutics Inc., a US-based pharma company with several ophthalmic therapeutics nearing market maturity.

FinanceBelgium

01.07.2014 Belgian antibody specialist Ablynx has raised €41.7m through a private placement of new shares and plans on boosting their range of nanobodies in development.

BioeconomyBelgiumUK

30.06.2014 Building on a £1.2m financing round, Celtic Renewables partners with a Belgian pilot plant to bring its bio-fuel made from whisky production residue to an industrial scale.

ConventionEUUK

25.06.2014 Sun, celebrities and a scandal - the world’s largest biotech convention is getting off to an explosive start in San Diego, California.

InvestmentGermanyNetherlands

24.06.2014 Bayer Healthcare is getting back into gene therapy with a US$252m deal aimed at the development of a haemophilia A treatment.

InvestmentNetherlands

20.06.2014 Tomtom founder Pieter Geelen invests in Dutch biotech Ocello, the company behind a 3D mapping technology used for predicting drug behaviour in patients.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SERODUS (N)3.05 NOK7.02%
  • SUMMIT (UK)4.03 GBP3.87%
  • DEINOVE (F)13.32 EUR2.46%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • ALMIRALL (E)11.07 EUR-7.13%

TOP

  • SANTHERA (CH)70.65 CHF114.1%
  • CELLECTIS (F)13.54 EUR112.6%
  • ADDEX (CH)4.54 CHF108.3%

FLOP

  • THROMBOGENICS (B)8.51 EUR-51.5%
  • MERCK KGAA (D)63.67 EUR-50.6%
  • VERONA PHARMA (UK)1.20 GBP-42.9%

TOP

  • SANTHERA (CH)70.65 CHF3111.4%
  • GW PHARMACEUTICALS (UK)443.50 GBP843.6%
  • PAION (D)2.71 EUR310.6%

FLOP

  • CYTOS (CH)0.24 CHF-93.1%
  • EVOCUTIS (UK)0.21 GBP-92.6%
  • THROMBOGENICS (B)8.51 EUR-73.6%

No liability assumed, Date: 12.07.2014