24.06.2013 - British GlaxoSmithKline is participating in the new Kurma Biofund II in France. €17.5m of the €44m raised so far comes from GSK.
In a bid to identify promising new targets and drugs, British Pharma GlaxoSmithKline gains a foothold in a rare diseases venture fund. GSK said last week it will invest €17.5m in the Kurma Biofund II. It is the first venture capital fund dedicated to financing innovation in the rare diseases field through working with a network of European research institutes. Lead investor is the French firm Kurma Life Sciences Partners, with other backers including CDC Enterprises, Idinvest Partners and New Enterprise Associates. So far €44m has been raised. In April, GSK took a another bigger step when it decided to team up with Avalon Ventures in a deal worth up to €375m to fund ten drug discovery start-ups over the next three years (also see EuroBiotechNews Special May/2013).
Kurma Biofund I, valued at €51m, is still managed by Paris-based Kurma Life Sciences Partners. Like Biofund II this fund seeks the establishment of a new economic model for the financing of innovation – based on strategic partnerships with highly reputable biotechnology and medical research centers in France and the rest of Europe. Whereas Biofund II is targeted to rare diseases, Biofund I is largely concerned with life sciences and the health sector in general. Biofund I included enterprises ABM Medical, AM Pharma, Blink, Indigix, Key Neurosciences, Meiogenix, Pathoquest, Safe Orthopaedics, Umecrine and Zealand Pharma. Zealand recently made the news with its Sanofi-co-development. Since May Lyxumia has a European marketing authorisation as a diabetes therapy.
29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.
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.
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.
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.
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.
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.
The BioShake series contains high-speed mixer and thermal mixer for small and very small volumes in microplates and reaction tubes and allows for the first time high precise and efficient mixing in the microliter scale for a wide range of applications. more