News

GSK fuels French fund with €18m
Enlarge image

FundingFranceUK

GSK fuels French fund with €18m

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.

UPDATE: Later that day the EMA published a draft about the planned changes ("Publication and Acess to Clinical-Trial Data").

© eurobiotechnews.eu/ml

http://www.european-biotechnology-news.com/news/news/2013-02/gsk-fuels-french-fund-with-eur18m.html

AntibodiesDenmarkNetherlands

22.05.2015 Dutch arGEN-X and Danish LEO Pharma are pairing up to develop antibody-based treatments for the chronic inflammation that causes many skin conditions.

M&ANetherlandsGermanyEU

12.05.2015 US pharma is coming to European biotech to fill their pipeline. Pfizer is paying €77.5m for an option on Dutch AM-Pharma, while Juno Therapeutics acquired German biotech Stage Cell Therapeutics for around €72m.

Rare diseasesItalyGermanyPoland

15.05.2015 Rome-based pharmaceutical group Sigma-Tau has sold its blood cancer drug programme Oncaspar to US company Baxter, who aims to spin out its biopharma business.



SurveyGermany

06.05.2015 More revenue, more staff, more funding: in the German biotech industry, all signs are pointing towards growth.

M&AUKSweden

18.05.2015 Double deal for allergy: UK’s speciality biopharma Circassia is boosting its asthma pipeline with the acquisition of Swedish asthma specialist Aerocrine as well as fellow British Prosonix.

FinancingUK

20.05.2015 The Scottish Government has announced it will double the amount of funds for rare diseases. The New Medicines Fund that was created last year for this purpose will be increased to £80m (€112m).

M&ASwitzerland

04.05.2015 Swiss crop chemical maker Syngenta AG is in talks with US company Monsanto to discuss a possible merger, insiders say.

BiofuelsEU

30.04.2015 The European Parliament has given the go-ahead on a new law limiting the use of harmful crop-based biofuel in the transport sector. The decision marks a breakthrough in the EU’s approach to biofuels.

FinancingSwitzerlandUK

29.04.2015 Biopharma start-up CRISPR Therapeutics has raised US$64m to hurry the new CRISPR/Cas9 technology to the clinic.

Events

All Events

Partner-Events

Frankfurt am Main (DE)

ACHEMA 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BASILEA133.60 CHF4.70%
  • WILEX4.20 EUR3.45%
  • STRATEC BIOMEDICAL48.52 EUR3.23%

FLOP

  • MEDIGENE8.58 EUR-4.88%
  • PAION2.51 EUR-4.56%
  • CYTOS0.63 CHF-3.08%

TOP

  • 4SC4.65 EUR257.7%
  • SYNGENTA422.00 CHF28.3%
  • SARTORIUS169.65 EUR18.6%

FLOP

  • CYTOS0.63 CHF-37.6%
  • MEDIGENE8.58 EUR-33.2%
  • CO.DON2.89 EUR-8.3%

TOP

  • WILEX4.20 EUR418.5%
  • CYTOS0.63 CHF350.0%
  • 4SC4.65 EUR322.7%

FLOP

  • MOLOGEN4.92 EUR-54.4%
  • BIOFRONTERA2.30 EUR-24.1%
  • CO.DON2.89 EUR-21.3%

No liability assumed, Date: 24.05.2015