MediGene

Medigene forms spin-off Immunocore

Calisha Myers — Wed, 01 Oct 2008 12:01:55 -0400

German biotech MediGene announced today that its UK subsidiary, MediGene Ltd., will be merged into its new spin-off company, Immunocore. As of today, the new company--financed by MediGene and three private investors--will take over the UK subsidiary's employees, offices and lab space in Oxfordshire, UK. James Noble has been appointed CEO. Noble is the former CEO of Avidex, a company MediGene acquired in 2006 (which later became Medigene Ltd).

Immunocore will take over the development of MediGene Ltd.'s technology platform for monoclonal T-cell receptors (mTCR). As the largest shareholder, MediGene holds a 38.5 percent stake in the company, but will not finance the mTCR technology. The company also retains the right of first refusal for defined cancer indications for further development, according to MediGene's statement.

"We are very pleased to have laid the foundation for the continuation and acceleration of the mTCR programme with this spin-out of Immunocore Ltd, "said Dr Peter Heinrich, CEO of MediGene. "As a shareholder, MediGene will benefit from Immunocore's potential upside, while at the same time MediGene expects significant cost reductions and a strengthened focus of its business model. Our clinical programmes in oncology and autoimmune diseases will be our future core activities."

- read the MediGene release

MediGene sells European rights to Oracea

John Carroll — Thu, 31 Jul 2008 10:15:36 -0400

MediGene has sold the European rights to Oracea for rosacea to Galderma Laboratories for €8 million upfront and up to €32 million in total based on certain commercialization milestones. Release

Unexpected death brings MediGene Phase I to a halt

John Carroll — Tue, 08 Jul 2008 11:12:55 -0400

MediGene placed a clinical hold on the trial of an experimental therapy for rheumatoid arthritis after a paid subject in the Phase I study--a healthy father of three--died unexpectedly in Scotland after suffering cardiac arrest. The case immediately raised comparisons to the notorious early-stage clinical trial for TGN 1412, which nearly killed six participants of a small UK trial.

The family of the man, an enthusiastic body builder, is taking legal action. He was paid £2,000 to participate in the trial of RhuDex, according to The Times. The German company says that about 80 people have been given RhuDex and that it is investigating the death.

- check out MediGene's release
- read the report from The Times

Pfizer rumored to be eyeing MediGene buyout

Wed, 14 May 2008 06:59:57 -0400

Rumors are swirling that Pfizer is looking to take over the German biotech MediGene. Shares of the smaller company leapt more than 12 percent today as reports of a possible deal hit the newswires. Neither company would comment on whether they've held talks, as reports suggest.

MediGene specializes in cancer, autoimmune disease and skin disease; its two marketed products are the prostate cancer treatment Eligard and a genital warts med Veregen. European approval for a skin drug, Oracea, is pending. In the pipeline: a pancreatic cancer drug, Endotag.

- see the story in Forbes
- check out the brief at Thomson Merger News