After a round a layoffs this summer, Lund, Sweden-based biotech BioInvent International has revealed further staff cutbacks as it hones in on cancer drug R&D.
The news at Sweden's BioInvent is all bad. Today it says that one of the two drugs it planned to shift its focus to failed a Phase IIa trial.
Shares at Sweden's BioInvent went into meltdown mode earlier this month when an experimental blood-thinner it was developing in partnership with Thrombogenics failed in a head-to-head study with Xarelto. Today the other foot dropped. BioInvent is reorganizing in the wake of the trial disaster, laying off 21 of its 89 staffers and refocusing on a pair of experimental drugs further down the pipeline.
Human Genome Sciences and BioInvent International have inked a deal to discover, develop and commercialize therapeutic monoclonal antibodies that specifically target antigens discovered by HGS.
Sweden's BioInvent International has inked a license and discovery agreement with Japanese drugmaker Daiichi Sankyo to develop therapeutic antibodies against multiple targets. Under the terms of the
Roche has forged a $774 million deal to license an early stage cancer drug from Belgium's ThromboGenics and Sweden's BioInvent. In the deal, ThromboGenics gets a whopping $77.4 million upfront