Anormed

Genzyme lands $345M acquisition of Bioenvision

Tue, 23 Oct 2007 06:59:56 -0400

Genzyme is laying claim to the keys to Bioenvision after winning shareholders' approval of the $345 million buyout. SCO Capital Partners, which owns 13 percent of Bioenvision, had fought the deal, saying that the bid undervalued the company. That argument failed to sway a majority of shareholders, though, who are getting $5.60 a share. Genzyme walks away with all the rights to the cancer drug clofarabine, which it co-developed with Bioenvision.

- take a look at the release
- read the report from the International Herald Tribune

Related Articles:
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Who's next on the biotech buyout hit list? Report
Genzyme wins bidding war for AnorMED. Report
Boston officials herald big Genzyme expansion. Report

Genzyme reports successful late-stage stem cell study

Thu, 19 Jul 2007 06:59:55 -0400

Shares of Genzyme were buoyed slightly by the news that Mozobil hit primary and secondary goals in a late-stage trial for non-Hodgkin's lymphoma. The drug spurs the release of bone marrow stem cells into the blood so that they can be collected and used in a transplant. About six in 10 of the patients in the study demonstrated an increased stem cell count while 87 percent produced the necessary number of stem cells needed for a transplant. Applications for U.S. and European marketing approval is now expected in the first half of next year. Genzyme gained Mozobil when it bought out AnorMED earlier this year.

- read the release for more
- here's the AP report on the trial data

Related Articles:
Genzyme wins bidding war for AnorMED. Report
Genzyme to pursue rare hostile biotech bid. Report
Millennium to buy AnorMed for $515M. Report
Genzyme boosts AnorMed bid to $580M. Report

Orexigen garners $30M in financing

Tue, 21 Nov 2006 19:01:35 -0500

San Diego-based Orexigen Therapeutics has completed a $30 million Series C private equity financing. The deal was financed by new investors MPM BioEquities and Wasatch Advisors, along with existing investors. The money will be used to support the company's clinical programs for its two lead drug candidates: Contrave, currently in Phase II/III trials, and Excalia, which is in Phase IIb. Orexigen is involved in developing therapies for the treatment of obesity.

- check out Orexigen's press release for more on the financing

Related Article:
Orexigen gets positive Phase II results. Report

DEALS: Lilly buys Icos in $2.1B deal

Wed, 25 Oct 2006 20:01:32 -0400

Lilly buys Icos in $2.1B deal

DEALS
WHO	WITH	WHAT	SCOOP
Lilly	Icos	$2.1B buyout	The deal gives Lilly full control of ED drug tadalafil that the two companies have marketed jointly.
Stiefel Laboratories	Connetics Corporation	$640M buyout	Stiefel develops a number of prescription and non-prescription dermatological products and through the buyout, will gain Connetics' advanced therapies and topical delivery technologies.
Genzyme	AnorMed	$580M buyout	Genzyme has finally won the bidding war for AnorMed, gaining AnorMed's lead product, Mozobil, now in Phase III for hematopoietic stem cell transplantation.
Cambrex	Lonza	$460M sale	Cambrex is selling its bioproducts and biopharma business to Switzerland's Lonza Group and will use the money to pay a special dividend to shareholders.
Merck	Ambrilia Pharmaceuticals	$232M licensing deal	Canada's Ambrilia Pharmaceuticals has licensed its early-stage lead product to Merck for $17 million up front and up to $215 million in milestones.
Serono	Newron Pharmaceuticals	$200M licensing deal	Serono has won the worldwide development rights to Newron Pharmaceuticals' safinamide Parkinson's therapy.
Merck KGaA	Glenmark	$144.2M licensing deal	Merck KGaA will pay €25 million up front and up to €190 million in total to license Glenmark's DPP-4 inhibitor, GRC 8200, which is in Phase II trials.
Schering-Plough	Santarus	$70M licensing deal	The deal is for a low-dose version of the heartburn drug Zegerid.

ALSO NOTED: Orexigen gets positive Phase II results; AnorMED completes Mozobil enrollment; and much more...

Sun, 22 Oct 2006 20:01:30 -0400

> AnorMED has completed enrollment in a phase III trial of Mozobil for cancer patients. Release

> Orexigen Therapeutics has revealed positive Phase II results for Excalia, for the treatment of obesity. Excalia is a combination of two centrally-acting medications. Release

> SkinMedica has received FDA approval for Desonate, for treatment for mild to moderate atopic dermatitis. Release

> Bristol-Myers Squibb Company announced that the FDA approved a new 300 mg single capsule formulation of Reyataz for the HIV-1 infection in adults as a part of combination therapy. Report

And Finally... Young people who get a new meningitis shot Menactra could be at higher risk for contracting Guillain-Barre syndrome. Report

Genzyme wins bidding war for AnorMED

Mon, 16 Oct 2006 20:01:35 -0400

It looks like that Genzyme has won the battle to acquire Canada's AnorMed. AnorMed's board has approved Genzyme's offer of $13.50 a share, which values the company at $580 million. That's $200 million more than Genzyme first offered and significantly higher than the $515 million offered by Millennium Pharmaceuticals in a competing bid. Millennium has bowed out of the bidding, but says it's owed $19.5 million under the terms of its pact with AnorMED. The deal will net Genzyme AnorMed's lead product: Mozobil, now in Phase III for hematopoietic stem cell transplantation.

- here's the release on the buyout agreement
- and more on the deal from the CBC

Related Articles:
Genzyme to pursue rare hostile biotech bid. Report
Millennium to buy AnorMed for $515M. Report
Genzyme boosts AnorMed bid to $580M. Report
AnorMED gives Genzyme bid thumb's up. Report

AnorMED gives Genzyme bid thumb's up

Thu, 12 Oct 2006 20:01:35 -0400

The bidding war for Canada's AnorMED is far from over. The company 's board announced that Genzyme's sweetened offer of $13.50 a share--or $580 million--was superior to Millennium's bid. AnorMED gave Millennium three days to match or beat the Genzyme bid. If it does, AnorMED says they'll go with Millennium. If it doesn't, AnorMED will sign on to Genzyme's offer. Genzyme got the bidding war going with its unsolicited offer of $380 million.

- check out the AFX report on the back and forth

Related Articles:
Genzyme to pursue rare hostile biotech bid. Report
Millennium to buy AnorMed for $515M. Report
Genzyme boosts AnorMED bid to $580M. Report

Genzyme boosts AnorMED bid to $580M

Mon, 09 Oct 2006 20:01:38 -0400

Genzyme has announced it is willing to offer $13.50 a share for AnorMED in a deal valued at $580 million. That's $200 million more than it offered a few weeks ago and $65 million higher than the offer from Millennium Pharmaceuticals, which AnorMED has recommended to investors. Genzyme's seriously sweetened offer is contingent on AnorMED's support. AnorMED's board swiftly rejected Genzyme's original offer in September, noting that it felt the $8.55 bid significantly undervalued the company. In the new proposal, Genzyme is also looking to do more due diligence on Mozobil, AnorMED's lead product.

- read the AFX report for more information

Related Articles:
AnorMed rejects Genzyme takeover bid. Report
Genzyme signals it may up AnorMED bid. Report

Genzyme signals it may up AnorMED bid

Wed, 04 Oct 2006 20:01:38 -0400

Genzyme is displaying fresh signs that it won't give up on its bid to acquire AnorMED. AnorMED says that Genzyme has signaled its interest in upping its bid past the $12 a share offer from Millennium. And having triggered a bidding war, AnorMED has indicated that its interest now is in boosting shareholder value and notes that Millennium will have a chance to counter any sweetened offer made by Genzyme. Genzyme set off the bidding war with its offer to buy AnorMED for $8.55 a share, a move that was quickly spurned by AnorMED.

- here's the report on Genzyme from CBC

Related Articles
AnorMed rejects Genzyme takeover bid. Report
Genzyme to pursue rare hostile biotech bid. Report
Millennium to buy AnorMed for $515M. Report

DEALS: Merck KGaA buys Serono for $13.3B

Wed, 27 Sep 2006 20:01:32 -0400

Merck KGaA buys Serono for $13.3B

DEALS
WHO	WITH	WHAT	SCOOP
Merck KGaA	Serono	$13.3B buyout	The deal appears to have been heavily influenced by Merck's decision to keep Serono's headquarters in Geneva.
Altana	Nycomed	$5.8B sale	Germany-based Altana is selling its pharmaceutical business to Denmark's Nycomed for €4.5 billion.
Hospira	Mayne Pharma	$2.63B buyout	Hospira sees the move as a big boost to its international efforts in marketing generic injectables.
Millennium Pharmaceuticals	AnorMed	$515M buyout	Millennium Pharmaceuticals has beat out out Genzyme's bid for Millennium Pharmaceuticals.
UCB	Schwarz Pharma	$5.6M buyout	The two companies will enjoy about €3.3 billion in revenue and an R&D budget of €770 million.
Novartis	Cell Therapeutics	$285M licensing deal	The deal is for the cancer therapy Xyotax.
Elan	Transition Therapeutics	$200M licensing deal	The pact covers AZD-103, which is in Phase II.
Pfizer	TransTech	$155M licensing deal	The deal covers the worldwide rights to compounds that target the receptor for advanced glycation end products (RAGE) and have potential use in the treatment of Alzheimer's disease.
Pfizer	Atugen/SR Pharma	$95M licensing deal	The deal is for an RNAi treatment for age-related macular degeneration developed with Quark Biotech.
Biogen Idec	MondoBiotech	$37.5M licensing deal	Biogen Idec is gaining the rights to develop a new therapy for pulmonary arterial hyperntension.
Schering	AstraZeneca	Development pact	Germany's Schering and the UK's AstraZeneca are joining forces to develop a new therapy for breast cancer.

Millennium to buy AnorMed for $515M

Tue, 26 Sep 2006 20:01:38 -0400

Cambridge, MA-based Millennium Pharmaceuticals has agreed to pay $515 million to buy Canada's AnorMed, beating out Genzyme for the company. Genzyme had put AnorMed in play with its $380 million offer, but AnorMed signaled from the start that it felt it was worth more. Millennium is buying a company with no approved products but an advanced stem cell therapy, Mozobil, for treating certain types of blood cancer. Mozobil releases bone marrow cells so that they can be harvested and used to treat multiple myeloma and non-Hodgkin's lymphoma. AnorMed's shares jumped 26 percent on the news. The company is still able to entertain higher offers, but could face a termination fee if they end up rejecting Millennium as well.

"This proposed acquisition is aligned with our goal to bring in products that accelerate revenue growth, leverage our oncology sales infrastructure and benefit from our development, regulatory and commercial expertise," said Millennium CEO Deborah Dunsire.

- read the report on the buyout from TheStreet.com

DEALS: Ligand sells cancer drugs for $205M

Wed, 13 Sep 2006 20:01:32 -0400

Ligand sells cancer drugs for $205M

DEALS
WHO	WITH	WHAT	SCOOP
Ligand Pharmaceuticals	Eisai	$205M sale	Ligand Pharmaceuticals has sold a line of cancer drugs to Eisai.
Daiichi Sankyo	Kearney Venture Partners	$60M investment	The deal allows Daiichi to strike collaborations with the biotech companies who gain funds from the venture group.
Sankyo	Ajinomoto	Licensing deal	Sankyo has gained the exclusive global rights to develop, manufacture and market the new diabetes drug AJD101.
Omeros	Nura	Cash/stock buyout	Omeros' acquisition will add Nura's work in schizophrenia and Parkinson's disease. The three investors in Nura are making an unspecified but "large" investment in Omeros.
Genzyme	AnorMed	Hostile takeover	Genzyme says it will pursue a hostile takeover of AnorMed with a tender offer of $8.55 per share, a 70 percent premium on the Canadian biotech's trading price.

Genzyme to pursue rare hostile biotech bid

Wed, 30 Aug 2006 20:01:39 -0400

Cambridge, MA-based Genzyme says it will pursue its hostile takeover of AnorMed with a tender offer of $8.55 per share, a 70 percent premium on the Canadian biotech's trading price. The New York Times' Andrew Pollack polled a group of industry execs, none of whom could recall any recent example of a hostile takeover in the biotech industry. Analysts say that a successful hostile takeover could trigger a walkout by key people in a biotech outfit, significantly reducing its value. AnorMed, though, may be a special case. Baker Brothers Advisers engineered a board coup at the company last April. The new board, meanwhile, has brought in Goldman Sachs to evaluate "strategic alternatives," a sign for some that they just want a higher offer before agreeing to sell.

- here's the article on the takeover attempt from The New York Times

AnorMed rejects Genzyme takeover bid

Tue, 29 Aug 2006 20:01:38 -0400

Canada's AnorMed has rejected a hostile, $350 million takeover offer from Genzyme, saying that the 70 percent premium offered on its shares doesn't recognize the company's ability to create shareholder value. Genzyme responded by saying it may take its offer straight to the shareholders and let them decide. AnorMed expects to release crucial Phase III data on Mozobil in cancer patients in early 2007.

- here's the report on AnorMed from the Globe and Mail

ALSO NOTED: Takeda, Galaxy Biotech ink licensing deal; Protalex raises $15.2M in private placement; and much more...

Sun, 09 Jul 2006 20:00:50 -0400

> Antigenics has expanded its licensing and supply deals for QS-21 Stimulon adjuvant with a vaccine division of GlaxoSmithKline. Release

> New Hope, PA-based Protalex has raised approximately $15.2 million in a private placement of 6.1 million shares of common stock. Release

> BioSante Pharmaceuticals announced a $7.6 million private placement. Release

> Takeda has signed an agreement to develop, manufacture and sell Galaxy Biotech's monoclonal antibody and will earn additional payments if the drug reaches certain milestones. Report

> AnorMED has completed enrollment in two Phase II trials for Mozobil for stem cell transplant. Release

And Finally... Florida's Supreme Court has ruled that pharmacists are responsible if a patient is harmed by a prescription drug combination. Report

C&L: AnorMED CEO steps down

Tue, 23 May 2006 20:01:32 -0400

AnorMED announced today that Dr. Mike Abrams has stepped down as president and CEO, effective immediately. He has also resigned as a director of AnorMED. Dr. Abrams has served as the company's president and CEO since founding the company in 1996.

Alex McPherson has resigned from Biomira after 15 years as president and CEO. Edward Taylor will serve as interim president and CEO.

Clinical Cell Culture has appointed Bob Atwill as its new CEO.

Donald Beeman has been named CEO of LigoCyte Pharmaceuticals in Montana.

TLV Kumar has been appointed president for Applied Biosystem's Asia Pacific operations.

Kenneth M. "Bill" Yates, DVM, has resigned as president of DelSite Biotechnologies.

Bio-nanotech company pSivida has hired Michael J. Soja as vice president, finance and CFO, and Lori H. Freedman as vice president, corporate affairs, general counsel and secretary.

Ceres has appointed Patrick McCroskey to the position of CFO.

PharmEng International announced that it has named Lawrence Tjan CFO.

Ensemble Discovery Corporation has named Nick Terrett, PhD, to the newly created role of chief scientific officer.

Pharmion Corporation has hired Dr. Andrew R. Allen to the position of chief medical officer.

MedImmune announced that Peter S. Greenleaf has joined the management team as senior vice president, marketing and sales.

Joseph S. "Jay" Mohr is joining Zelos Therapeutics as chief business officer and Martin Stogniew, Ph.D., is joining as executive vice president of development.

Geron Corp. has added Laurence Elias, M.D., to the management team as vice president, oncology clinical development.

Oscient Pharmaceuticals has promoted Hugh M. Cole to vice president, corporate development.

Catalyst Biosciences has named Marc Navre, Ph.D., as the company's vice president of drug discovery.

Xanthus Pharmaceuticals announced that John Lister-James, Ph.D. has joined the Xanthus management team as vice president, development.

Solazyme has named Dr. Anthony G. Day to the position of vice president of research and development.

ICON announced that Melton Affrime, Pharm.D., has been appointed to the position of senior vice president, global clinical pharmacology for ICON Development Solutions.

Generex has hired George Markus as its manager of regulatory affairs. In addition, Antigen Express, the company's wholly owned immunotherapeutics subsidiary, has hired Margaret Sposato as a senior research associate.

Amazon Biotech has added Evan Bental as a regulatory assistant.

MethylGene has elected Jay Moorin, partner at ProQuest Investments III, L.P., to MethylGene's board of directors.

Affymax has elected John P. Walker to the company's board of directors.

Cephalon has elected Kevin E. Moley to its board of directors.

Forest Laboratories has named Nesli Basgoz, M.D., to its board.

NitroMed has appointed Christopher J. Sobecki to its board of directors.

Pluristem Life Systems has named Edwin M Horwitz, M.D., PhD., to its scientific advisory board.