biotechnology company

C&L: Una Ryan leaves Avant

Wed, 14 May 2008 06:59:52 -0400

Avant Immunotherapeutics today announced the departure of Una Ryan, Ph.D, President and CEO, effective immediately.

Watson Pharmaceuticals announced that co-founder and Chairman Allen Chao has resigned from the board of directors to pursue other business activities. Board member Andrew Turner will become nonexecutive chairman.

Ardea Biosciences has named John Beck senior vice president, finance and operations and chief financial officer.

Encorium Group has appointed Philip Calamia as its interim chief financial officer.

PregLem has named Sven Zimmermann, a biotech analyst at UBS Investment Bank, as its new chief financial officer.

Nucryst Pharmaceuticals revealed the appointment of David Holtz as vice president and chief financial officer.

Kendle has appointed Patricia Williams to the position of vice president, commercial operations.

Adnavance Technologies has appointed Christian P. Valcke, Ph.D., to its scientific advisory board.

Gilead Sciences on Wednesday said that Chief Executive Officer John C. Martin was named chairman of the biotechnology company's board of directors.

Vyteris named John E. Burrows and Susan Guerin to the company's board of directors,

Nventa Biopharmaceuticals Corporation has named John Varian to the company's board of directors.

DOR BioPharma announced that its President and Chief Executive Officer Christopher Schaber, PhD, has joined the board of directors of the Alliance for Biosecurity.

Inovio Biomedical announced that Patrick Gan was elected as the company's eighth director at Inovio's annual general meeting.

Human Genome Sciences announced that John LaMattina, Ph.D., who retired in late 2007 as president of Pfizer Global Research and Development, has been appointed to the HGS board of directors.

Robert Hill has joined the Biothera board of directors.

ALSO NOTED: BMS: Buyer or buyout target?; LAB Research readies big expansion;Malaysia readies biotech investments; and much mor

Wed, 07 May 2008 06:59:50 -0400

> Market-watchers love to speculate. Their latest topic? Bristol-Myers Squibb, which has been paring away its "non-core" businesses over the last few months. Report

> Canada's LAB Research has raised $21.1 million to help fund the expansion of its facilities, increasing its floor space from 87,000 to 170,000 square feet. Release

> Canada's Apotex and Intas Biopharmaceuticals have agreed to collaborate on the development of a biosimilar for neutropenia, a side effect of chemotherapy. Report

> ImaRx Therapeutics has forged a deal to sell its urokinase inventory and related assets to Microbix Biosystems for $17 million in cash. Urokinase is an FDA-approved thrombolytic, or clot-dissolving agent. Release

> Isogenica has acquired the principal assets of the Finnish biotechnology company Karyon CTT and secured a £2 million cash investment. Release

> A systems biology spin-off from Newcastle University has opened up a new consultancy division that will use its in-silico technology to assess the safety and efficacy of new drug candidates. E-therapeutics' technology assesses how a drug will respond to cells as well as other therapeutics. Report

> Scientists in Scotland say that they have identified a chemical group that can protect the p53 gene, a guardian against cancer tumors which is damaged or turned off in most cancer cases. Report

> Research on fat cell replacement could lead to new obesity treatments. Report

> An FDA advisory panel voted against broadening the use of Cephalon's painkiller, citing worries that it would in fact be misused. Report

> GlaxoSmithKline went hat in hand to the bond markets and came back with a record $9 billion. Report

And Finally... Malaysian officials are lining up the first big round of loans to the country's biotech sector. Report

Neurogen cuts 70 jobs in restructuring

Wed, 06 Feb 2008 06:59:56 -0500

Neurogen is slashing 70 jobs in a restructuring that will focus company assets around its clinical programs. The drug developer is focused on insomnia, Parkinson's disease, restless legs syndrome and pain. Neurogen announced Monday that its president, Stephen R. Davis, had been appointed chief executive officer at the biotechnology company.

"As our clinical portfolio advances, we must allocate our resources to facilitate this growth," said Davis. "Our insomnia program holds the potential for significant differentiation and increased value as we seek to expand on the clinical profile we have seen thus far, suggesting improved objective and subjective measures of efficacy over currently available insomnia drugs. Aplindore remains on track for the commencement of Phase 2 studies in both Parkinson's disease and Restless Legs Syndrome."

- check out the release

C&L: Valeant makes management changes

Wed, 06 Feb 2008 06:59:52 -0500

Valeant Pharmaceuticals International has appointed J. Michael Pearson to the position of chief executive officer following the resignation of Timothy Tyson as president, chief executive officer and a director of the company. In addition, Robert A. Ingram will step down as Valeant's current chairman, but will remain on the board as the lead director. Pearson will assume the role of chairman of the board of directors.

Neurogen announced Monday that its president, Stephen Davis, has been appointed chief executive officer at the biotechnology company. Former CEO William Koster has retired and remains a member of the company's board of directors.

Solvay President and CEO Laurence Downey plans to retire in April after some 30 years with the company.

Genelabs Technologies said that its president and chief executive, James Smith, has resigned.

Altus Pharmaceuticals reports its president and CEO, Sheldon Berkle, has resigned from his executive posts and from the board of directors. The board has appointed company chairman David Pendergast as interim executive chairman while the firm searches for a new chief executive.

Minerva Biotechnologies is recruiting a new CEO following the board of director's decision to fire CEO Jim Czirr. At the same time, the company has filed a lawsuit against Czirr in Massachusetts Superior Court.

Xenome Limited announced the appointment of Ian Nisbet, PhD as the company's chief executive officer.

R. Ian Lennox has been appointed chairman and chief executive officer of Ricerca Biosciences LLC.

Amyris has appointed Jeryl Hilleman to the new position of chief financial officer.

Synosia Therapeutics has named Philippe Lutz MA Finance, as the company's first chief financial officer. He will be based at Synosia's new headquarters in Basel, Switzerland.

Immunosyn Corporation announced that Douglas McClain, Jr., will resume the duties of CFO effective February 1. McClain also serves as the company's chairman of the board and corporate secretary. At the same time Immunosyn announced the resignation of G. David Criner as the company's chief financial and accounting officer. Criner, hired in October 2007, is leaving due to family matters.

Omrix announced that Ana Stancic has, by mutual agreement with the company, resigned as executive vice president and chief financial officer, effective February 19. The company is undertaking a search for a new CFO.

MAP Pharmaceuticals announced that Stephen Shrewsbury, M.B., Ch.B., chief medical officer, will be leaving the company for personal reasons.

Poniard Pharmaceuticals has appointed Robert De Jager, M.D., as chief medical officer.

Xanodyne Pharmaceuticals, a Newport, Kentucky based pharmaceutical company, announced two senior appointments today: Gary Shangold, M.D., FACOG as CMO and Timothy Arendt as vice president of sales.

Genetic Immunity has appointed Richard Pollard, M.D. as chief medical officer.

The Burnham Institute for Medical Research announced that Daniel Kelly, M.D. will assume the position of scientific director of Burnham at Lake Nona in Orlando, Florida.

VIVALIS announces the reinforcement of its team with Dr. Frédéric Legros' arrival, as business developer.

Kendle has hired Satish Tripathi, PhD, RAC as vice president, global regulatory and quality.

Xenon Pharmaceuticals has appointed Charles Cohen as vice president, discovery research.

GeoVax Labs has added co-founder Dr. Harriet Robinson to its staff as vice president of R&D.

William Hahne, M.D. has joined Vion Pharmaceuticals' senior management team as vice president, medical.

BioTrove announced the promotions of Kevin Munnelly and Can "Jon" Ozbal, Ph.D. to vice president and general manager of the company's OpenArray and RapidFire divisions, respectively.

Anthera Pharmaceuticals has appointed the first five members of its Scientific Advisory Board for A-623, a peptide fusion protein licensed from Amgen. They are: Jill Buyon, M.D.; Betty Diamond, M.D; Kenneth Kalunian, M.D.; David Wofsy, M.D.; Debra Zack, M.D., Ph.D.

China Pharma Holdings has named G. Michael Bennett, Yingwen Zhang and Baowen Dong to its board of directors, forming the company's audit committee.

Amarin Corporation has established the position of lead independent director and has appointed current board member Dr. William Mason to the role.

Predictive Biosciences announced that Dr. Martin Madaus has joined the company's board of directors.

Koronis Pharmaceuticals has named Daniel Petree and George Painter, Ph.D. to the company's board of directors.

Tigris Pharmaceuticals has named Pedro Granadillo to its board of directors.

Helicos BioSciences announced that Elisabeth Allison, PhD, has been named to the Helicos board of directors.

Medgenics has appointed Lord Steinberg as a non-executive director with immediate effect.

Immucor disclosed that Ronny B. Lancaster has agreed to join Immucor's board of directors.

Rosetta Genomics has established a medical advisory board. They are: Prof. Moshe Hod - chairman; Prof. Harvey I. Pass - vice chairman; Prof. David Sidransky, M.D; Dr. Isaac Yaniv; Prof. Jack Baniel; Prof. Raphael Catane; Dr. Maya Gottfried.

Ardea Biosciences has formed a human immunodeficiency virus Scientific Advisory Board with the appointment of seven members, chaired by David Ho, M.D.

Dr. Howard Fields has joined the Scientific Advisory Board of NanoViricides.

Press Release: Nuon Therapeutics Completes Agreement on Tranilast With Kissei Pharmaceutical

Mon, 23 Jul 2007 13:00:46 -0400

Nuon Therapeutics Completes Licensing, Supply and Collaboration Agreement on Tranilast With Kissei Pharmaceutical Nuon Therapeutics, Inc., a clinical stage biotechnology company, today announced the completion of a licensing, supply and collaboration agreement on tranilast with Kissei Pharmaceutical Co., Ltd., Matsumoto City, Japan. The agreement will enable Nuon Therapeutics to advance tranilast, the company's lead compound, through the next phase of clinical development while giving Kissei the exclusive option right for research, development and marketing of tranilast in Japan and Korea for the field of autoimmune diseases, including multiple sclerosis (MS). The terms include provisions for Kissei to supply tranilast to Nuon Therapeutics for clinical trials and license Nuon related intellectual property on tranilast. The agreement also establishes a collaborative relationship between Nuon Therapeutics and Kissei for the development of additional portfolio products. Nuon Therapeutics has licensed and developed worldwide intellectual property for the use of tranilast to treat MS, rheumatoid arthritis (RA), pain, and other indications. "Our technology is based on the work of international thought leaders in autoimmune disease," said Rodney Pearlman, PhD, CEO of Nuon Therapeutics. "Nuon Therapeutics has collaborated with Dr. Marc Feldmann, Imperial College, London, to develop this technology in RA and pain and with Dr. Larry Steinman, Stanford University, Palo Alto, to develop tranilast in MS and other indications." Kissei has marketed tranilast (under the brand name Rizaben(R)) in Japan and Korea for bronchial asthma since 1982. Indications for keloid and hypertrophic scar were added in 1993. In addition, a Rizaben eye drop was launched in 1995 in those countries and is widely used for allergic conjunctivitis. Tranilast is thought to act in these diseases by inhibiting the release of chemical inflammatory mediators from mast cells. "We are delighted to have established a strategic partnership with Kissei, the originator of tranilast," said Joshua Funder, Chairman of Nuon Therapeutics and investor at GBS Venture Partners. "This collaboration will accelerate our development of new tranilast products as well as provide supply of high quality tranilast material for clinical trials. We are particularly excited to work with Kissei because of their extensive clinical experience with tranilast and deep insight in preclinical research in this field." About Kissei Pharmaceutical Co., Ltd. Kissei Pharmaceutical Co., LTD., headquartered in Matsumoto, Nagano prefecture, founded in 1946, is a Japanese pharmaceutical company that develops, manufactures, markets, sells and distributes brand pharmaceutical products. Kissei is primarily focused on three important fields of new drug research: urogenital, endocrinology & metabolism and immunology & allergy. More: http://www.kissei.co.jp/ About Nuon Therapeutics, Inc. Nuon Therapeutics, Inc. is a clinical stage biotechnology company that develops innovative small molecule drugs that address critical, unmet needs in autoimmune disease and pain. Nuon Therapeutics' initial programs are focused on repositioning tranilast to treat multiple sclerosis, rheumatoid arthritis and pain. The company's scientific founders are Dr. Larry Steinman at Stanford University, Palo Alto, Dr. Marc Feldmann, Imperial College, London, and Dr. Michael Selley, formerly from the Australian National University. Nuon Therapeutics, Inc. has headquarters in San Francisco, CA and a wholly-owned subsidiary, Nuon Therapeutics Pty. Ltd., in Australia, where additional discovery and development efforts are located. More: www.nuontherapeutics.com About GBS Venture Partners GBS is Australasia's largest specialist life science venture capital investment group. GBS manages specialist funds from seed through to expansion stage in the life sciences sector, and has more than AU$300m under management. The GBS team has been investing in Australasia since 1996 and played founding roles in companies with a combined market capitalization of more than $1 billion.

Press Release: Osprey Pharmaceuticals Limited Secures $9 Million In Financing

Maureen Martino — Tue, 30 Jan 2007 11:24:55 -0500

Osprey Pharmaceuticals Limited Secures $9 Million In Financing, Including $3 Million In Venture Debt From MMV Financial

MONTREAL, and TORONTO, Jan. 30 -- Osprey Pharmaceuticals Limited, a privately held biotechnology company focused on treating chronic diseases through a family of first-in-class therapeutic proteins, announced today that it has secured US $9.0 million (CA $10.5 million) in financing, including US $6.0 million (CA $7.0 million) in tranched convertible debt from existing investors and $3.0 million (CA $3.5 million) in venture debt from MMV Capital an arm of MMV Financial.

Osprey will use the proceeds from the financing to complete preclinical development work and fund early clinical trials of its lead product candidate, OPL-CCL2-LPM, for patients with chronic kidney disease. OPL-CCL2-LPM is a Leukocyte Population Modulator (LPM), one of 12 chemokine-based proprietary proteins developed by Osprey to selectively and systematically destroy disease-related leukocytes. The company plans to begin clinical trials of OPL-CCL2-LPM in the third quarter of 2007.

"Osprey has built an innovative technology platform for the development of drugs against a wide array of clinically important applications, including chronic kidney disease, multiple sclerosis and cancer," said Jacques Perreault, Senior Vice President, MMV Financial Inc. "We at MMV are excited about working with the company and our investment partners to build Osprey as a leading and innovative biotechnology company."

"This financing enables Osprey to enter the clinic with its lead compound this year, and to begin moving our portfolio of 12 preclinical candidates through the pipeline," said Phil Coggins, PhD., Chief Executive Officer and President of Osprey. "Support from prominent investors such as MMV is a great validation of our firm's technology and business model, and we are extremely pleased to have added MMV to our high caliber group of backers."

The convertible debt placement was led by GeneChem Therapeutics Venture Fund and included Series A shareholders Desjardins Capital Regional et Cooperatif, BDC Venture Capital and Western Technology Seed Investment Fund.

About Osprey Pharmaceuticals Ltd.

Osprey Pharmaceuticals Limited is a privately held biotechnology company focused on commercializing a unique family of therapeutic proteins capable of treating chronic diseases. Osprey's broad technology platform is based on the critical insight that many common diseases are propagated by overabundant and overactive leukocytes. The company's patented Leukocyte Population Modulators selectively and systematically destroy these disease-related leukocytes by infiltrating the chemokine system -- a complex network of small proteins and their receptors that regulate the movement and activity of leukocytes. The company expects to initiate a Phase I/II trial for chronic kidney disease in the second half of 2007.

Osprey has developed a portfolio of 12 preclinical product candidates addressing a variety of diseases including cancer, cardiovascular disease, and neurological disorders, and the company anticipates initiating at least one clinical trial annually over the next three years. Osprey minimizes the risks inherent to drug development and commercialization by using a technology that can rapidly generate new product candidates, and then uniformly applying standardized testing and manufacturing protocols across its portfolio. Osprey Pharmaceuticals is based in Montreal, Canada and can be found online at http://www.ospreypharma.com.

About MMV Financial

MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de depot et placement du Quebec, NewStar Financial Inc., and Wells Fargo Company. For more information please visit http://www.mmvf.com.

Contacts

MMV Financial Jacques Perreault Senior Vice President Tel: (514) 789-6425 Fax: (514) 396-4354 jperreault@mmvf.com

Osprey Pharmaceuticals Limited Phil Coggins, PhD President & CEO coggins@ospreypharma.com

Robert Wagstaff Vice President, Finance wagstaff@ospreypharma.com Tel: 514-336-3118

Or Susan Thomas or John Cummings from Burns McClellan on behalf of Osprey jcummings@burnsmc.com sthomas@burnsmc.com Tel: 415-352-6262

Press Release: Shire Pharmaceuticals Group Licenses The North American Rights For SPD754

Maureen Martino — Tue, 23 Jan 2007 11:10:20 -0500

Shire Pharmaceuticals Group Licenses The North American Rights For SPD754 (apricitabine) To Avexa Limited In Return For US$10 Million

BASINGSTOKE, England and PHILADELPHIA, Pennsylvania, January 22 /PRNewswire-FirstCall/ -- Shire plc announced today that it licensed the North America (U.S. and Canada) rights for the investigational HIV compound, SPD754 (also known as apricitabine), to the Australian biotechnology company Avexa Limited in return for an up-front payment of US$10 million, development and sales related milestones and royalties. Shire will also receive 8 million additional Avexa shares as part of this agreement, taking its shareholding in Avexa to just over 8%.

In January 2005, Shire licensed the right to develop and commercialise apricitabine throughout the world (excluding North America) to Avexa. This agreement gives Avexa the full responsibility for the worldwide development and commercialisation of this product.

"We are very happy with Avexa's progress in developing apricitabine" stated Barbara Deptula, Shire's Executive Vice President, Business Development "and look forward to continuing this positive collaboration as the product progresses through the development process to full commercialisation".

Notes to Editors:

SHIRE PLC

Shire's strategic goal is to become the leading specialty pharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit and hyperactivity disorder (ADHD), human genetic therapies (HGT), gastrointestinal (GI) and renal diseases. The structure is sufficiently flexible to allow Shire to target new therapeutic areas to the extent opportunities arise through acquisitions. Shire believes that a carefully selected portfolio of products with a strategically aligned and relatively small-scale sales force will deliver strong results.

Shire's focused strategy is to develop and market products for specialty physicians. Shire's in-licensing, merger and acquisition efforts are focused on products in niche markets with strong intellectual property protection either in the US or Europe.

For further information on Shire, please visit the Company's website: www.shire.com.

AVEXA LTD

Avexa Limited is a Melbourne-based biotechnology company with a focus on research and development of drugs for the treatment of infectious diseases, in particular diseases which have a significant unmet medical need. Avexa has dedicated resources and funding for key projects including antiviral drugs for HIV/AIDS and an antibiotic alternative for antibiotic-resistant bacterial infections. The company's lead program is apricitabine which is currently in Phase IIb clinical trials. Recruitment for the Phase IIb trial was completed in December 2006 and the results are due in the 1st quarter of 2007.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, Shire's results could be materially affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of pharmaceutical research, product development, manufacturing and commercialization; the impact of competitive products, including, but not limited to the impact of those on Shire's Attention Deficit and Hyperactivity Disorder (ADHD) franchise; patents, including but not limited to, legal challenges relating to Shire's ADHD franchise; government regulation and approval, including but not limited to the expected product approval dates of SPD503 (guanfacine extended release) (ADHD), SPD465 (extended release triple-bead mixed amphetamine salts) (ADHD), MEZAVANT(TM) (SPD476) (mesalazine) in Europe, and VYVANSE(TM) (NRP104) (lisdexamfetamine dimesylate) (ADHD), including its scheduling classification by the Drug Enforcement Administration in the United States; Shire's ability to secure new products for commercialization and/or development; and other risks and uncertainties detailed from time to time in Shire's and its predecessor registrant Shire Pharmaceuticals Group plc's filings with the Securities and Exchange Commission, particularly Shire plc's Annual Report on Form 10-K for the year ended December 31, 2005.

Shire PLC
CONTACT: For further information please contact: Investor Relations CleaRosenfeld (Rest of the World) +44-1256-894-160; Brian Piper (NorthAmerica), +1-484-595-8252; Media, Jessica Mann (Rest of the World),+44-1256-894-280; Matthew Cabrey (North America), +1-484-595-8248

Press Release: Crucell N.V. Announces STAR(TM) Research License Agreement With Novo Nordisk

Maureen Martino — Tue, 16 Jan 2007 11:12:51 -0500

Crucell N.V. Announces STAR(TM) Research License Agreement With Novo Nordisk

Leiden, The Netherlands, 16 January 2007 - Dutch biotechnology company Crucell N.V. announced today that it has signed a non-exclusive STAR(TM) research license agreement for the production of monoclonal antibodies with Bagsvaerd, Denmark-based Novo Nordisk A/S. Novo Nordisk A/S intends to evaluate the STAR(TM) technology using its proprietary mammalian CHO cell line along with its antibodies. Under the terms of the agreement, Novo Nordisk A/S will pay a license issuance fee, a success-based fee and annual maintenance fees provided the license is extended upon evaluation. Financial details of the deal were not disclosed.

About Star Technology

Crucell's STAR(TM) technology is useful for increasing production of recombinant antibodies and therapeutic proteins on mammalian cell lines. STAR(TM) technology supports high yield antibody and protein production. Using Crucell's STAR(TM) technology, high levels of protein can be generated. This has been demonstrated in several CHO derivatives for numerous proteins and different antibodies. Under standard non-optimized cell culture conditions using commercially available medium, specific productivity levels ranging between 25 and 50 pg/cell/day are easily achieved with screening of only up to 25 clones. Therefore Crucell's STAR(TM) technology is also ideal for stable bulk transfections to rapidly obtain adequate levels of protein for immunization, target discovery processes, protein characterization, or optimization and validation of downstream processes such as protein purification.

About Crucell

Crucell N.V. (Euronext, NASDAQ: CRXL; Swiss Exchange: CRX) is a biotechnology company focused on research, development and worldwide marketing of vaccines and antibodies that prevent and treat infectious diseases. Its vaccines are sold in public and private markets worldwide. Crucell's core portfolio includes a vaccine against hepatitis B, a fully-liquid vaccine against five important childhood diseases, and a virosome-adjuvanted vaccine against influenza. Crucell also markets travel vaccines, such as the only oral anti-typhoid vaccine, an oral cholera vaccine and the only aluminium-free hepatitis A vaccine on the market. The Company has a broad development pipeline, with several Crucell products based on its unique PER.C6® production technology. The Company licenses this and other technologies to the biopharmaceutical industry. Important partners and licensees include DSM Biologics, sanofi aventis, GSK and Merck & Co. Crucell is headquartered in Leiden (the Netherlands), with subsidiaries in Switzerland, Spain, Italy, Sweden, Korea and the US. The Company employs over a 1000 people. For more information, please visit www.crucell.com.

About Novo Nordisk

Novo Nordisk is a healthcare company and a world leader in diabetes care. The company has the broadest diabetes product portfolio in the industry, including the most advanced products within the area of insulin delivery systems. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs more than 23,000 employees in 79 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'. For more information, visit www.novonordisk.com

Forward-looking statements

This press release contains forward-looking statements that involve inherent risks and uncertainties. We have identified certain important factors that may cause actual results to differ materially from those contained in such forward-looking statements. For information relating to these factors please refer to our Form 20-F, as filed with the U.S. Securities and Exchange Commission on July 6, 2006, and the section entitled "Risk Factors". The Company prepares its financial statements under generally accepted accounting principles in the United States (US GAAP) and Europe (IFRS).

For further information please contact:

Crucell N.V. For Crucell in the US: Leonard Kruimer Redington, Inc. Chief Financial Officer Thomas Redington Tel. +31-(0)71-524 8722 Tel. +1 212-926-1733 Leonard.Kruimer@crucell.com tredington@redingtoninc.com

Press Release: Eli Lilly Announces Revised Merger Agreement With Icos

Maureen Martino — Sun, 17 Dec 2006 09:36:35 -0500

Eli Lilly and Company (LLY) Announces Revised Merger Agreement With Icos Corporation (ICOS); Eli Lilly Raises Offer To $2.3 Billion

BOTHELL, Wash. -- ICOS Corporation announced today that an agreement has been reached to amend the terms of the merger agreement with Eli Lilly and Company, which was originally signed on October 16, 2006.

The revised Agreement and Plan of Merger provides that Lilly will acquire all of the outstanding common stock of ICOS for a purchase price of $34 per share in cash, increased from the previous $32 per share. The $34 price per share represents: a 25% premium compared to the closing price the day before the initial announcement on October 17, 2006; a 41% premium to the average closing price of ICOS' common stock for the three month period ended on October 16, 2006; and a 77% premium compared to the date of Lilly's initial merger proposal on May 23, 2006.

ICOS' board of directors has considered and unanimously approved the revised $34 per share price and recommends that shareholders approve the revised Agreement and Plan of Merger.

ICOS also announced that its board has set a new record date, December 26, 2006, for shareholders entitled to vote on the merger. ICOS will adjourn its currently scheduled special meeting, from December 19, 2006, to January 25, 2007. ICOS believes it is appropriate to give current shareholders time to evaluate and vote on the revised transaction. Since the original October 30, 2006 record date, there has been significant trading volume in ICOS' common stock. A new proxy statement will be distributed to shareholders that will include a description of the amended agreement, a copy of Merrill Lynch's fairness opinion and related disclosures.

Merrill Lynch & Co. acted as financial advisor and Latham & Watkins LLP and Orrick, Herrington & Sutcliffe LLP acted as legal advisors to ICOS in connection with the transaction.

About ICOS Corporation:

ICOS Corporation, a biotechnology company headquartered in Bothell, Washington, is dedicated to bringing innovative therapeutics to patients. Through Lilly ICOS LLC, ICOS is marketing its first product, Cialis® (tadalafil), for the treatment of erectile dysfunction. ICOS is working to develop treatments for serious unmet medical needs such as benign prostatic hyperplasia, pulmonary arterial hypertension, cancer, psoriasis and inflammatory diseases.

Except for historical information contained herein, this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Lilly's and ICOS' current expectations, estimates and projections relating to the proposed acquisition of ICOS by Lilly, including the expected closing of the transaction and the benefits thereof. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Lilly and ICOS. Accordingly, no assurances can be given that the proposed transaction will occur or that such results will be achieved. There are a number of important factors that could cause actual results to differ materially from those projected, including risks associated with our ability to satisfy the conditions to closing set forth in the definitive agreement, product commercialization, research and clinical development, regulatory approvals, manufacturing, collaboration arrangements, liquidity, competition, intellectual property claims, litigation and other risks detailed in our latest Quarterly Report on Form 10-Q and our other public filings with the Securities and Exchange Commission. ICOS disclaims any intent or obligation to update any forward-looking statements contained herein.

Where To Find Additional Information About The Merger Between ICOS And Lilly

The Company intends to adjourn the meeting previously scheduled for December 19, 2006 until January 25, 2007 in order to give shareholders additional time to consider the amendment to the Agreement and Plan of Merger. Revised proxy materials will be mailed to shareholders.

ICOS intends to file a revised definitive proxy statement and other documents regarding the proposed acquisition of ICOS by Lilly with the Securities and Exchange Commission (the "SEC"). ICOS' shareholders are urged to read the revised definitive proxy statement when it becomes available and other relevant materials because they contain important information about ICOS and the proposed transaction. A revised definitive proxy statement will be sent to the shareholders of ICOS seeking their approval of the transaction. Investors may obtain a free copy of these materials and other documents filed by ICOS with the SEC at the SEC's website at www.sec.gov, at ICOS' website at www.ICOS.com or by sending a written request to ICOS at 22021 20th Avenue SE, Bothell, Washington 98021, attention: General Counsel.

ICOS, Lilly and their directors, executive officers and certain other members of their managements and employees and other representatives may be deemed to be participants in soliciting proxies from ICOS' shareholders in favor of the proposed merger. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of ICOS' shareholders in connection with the proposed transaction will be set forth in ICOS' revised definitive proxy statement. Additional information regarding these individuals and any interest they have in the proposed transaction will be set forth in the revised definitive proxy statement when it is filed with the SEC.

Press Release: Biomira announces U.S. $13 million financing

Maureen Martino — Tue, 12 Dec 2006 13:09:04 -0500

Biomira announces U.S. $13 million financing

EDMONTON, Dec. 13 - Biomira Inc. today announced that it has arranged a financing of approximately U.S. $13 million, before deducting placement agent fees and expenses, with Rodman & Renshaw, LLC of New York acting as exclusive placement agent. In connection with this financing, Biomira intends to file shortly in Canada a prospectus supplement to its September 26, 2006 Base Shelf Prospectus and in the United States a prospectus supplement to its September 26, 2006 F-10 Registration Statement. The financing is expected to close within the next few days and is subject to regulatory approval.

The Company will be offering up to 9,629,650 units, each unit consisting of one common share and 0.20 of a warrant, at an issue price of U.S. $1.35. In addition, approximately 96,000 compensation warrants, having similar terms to the purchaser warrants, will be issued to the placement agent.

Each warrant will entitle the holder thereof to purchase one common share at an exercise price of U.S. $1.86. The warrants will have a 48-month term, from the date the financing closes, and a no-exercise period of six months.

Biomira

Biomira is a biotechnology company specializing in the development of innovative therapeutic products for the treatment of cancer. Biomira's goal is to develop and commercialize novel synthetic vaccines and targeted small molecules that have the potential to improve the lives and outcomes of cancer patients.

This release contains forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements, including those predicting or discussing the timing of the closing of the financing, the filing of regulatory documents and receipt of regulatory approvals related to the financing and the satisfaction of other conditions to closing of the transaction. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.