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Sofinnova puts €42m into Auris

18.04.2013 - Swiss drug developer Auris Medical has bagged €41.6m in a Series C financing.

The company has said it will use the funds to advance its two major therapeutics for the treatment of inner ear disorders, AM101 and AM111. Efficacy of esketamine (AM-101), a small molecule non-competitive blocker of the NMDA receptor, has been successfully tested in a Phase II trial on 240 patients with acute inner ear tinnitus. However, Phase IIb results will be tabled in later summer, according to the company. Peptidic JNK signalling blocker AM-111 has already shown proof-of-concept in a Phase II trial on 204 patients with acute sensineural hearing loss. Both drugs are administered by intratympanic injection with a biocompatible gel formulation. 

"Having established proof of concept in Phase IIb studies, we are now ready to move forward with our clinical development plans," said Auris chief Thomas Meyer. Californian Sofinnova Ventures and Paris-based Sofinnova Partners, which participated in the current financing round added Jim Healy, General Partner at Sofinnova Ventures, and Antoine Papiernik, Managing Partner at Sofinnova Partners, to Auris Medical's Board of Directors.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-02/sofinnova-puts-eur42m-into-auris.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

20.04.2016 The US government is forking out up to US$100m to get Basilea Pharmaceutica’s broad-spectrum antibiotic ceftobiprole on the US market. In the EU, ceftobiprole is already available.

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

13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.

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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