antibody

Symphogen inks $330M collaboration pact with Genentech

John Carroll — Wed, 11 Jun 2008 11:15:13 -0400

Denmark's Symphogen has inked a $330 million collaboration deal with Genentech to discover new antibodies for three infectious disease targets. Symphogen gets an undisclosed equity investment as well as an undisclosed upfront payment, which will be used to fund a lead program in a mid-stage trial. Genentech gets a worldwide license on the developed candidates and will fund related R&D costs. The pact is a coup for Symphogen, which has smaller deals in place with Sweden's Biovitrum AB and Japan's Meiji Seika Kaisha.

According to a report in BioWorld, Symphogen has developed a rapid process for cloning antibodies as well as a more efficient manufacturing process.

"This deal underscores our belief that Symphogen's technologies offer a valuable approach to create next-generation therapeutics that address critical unmet medical needs in the treatment of serious infections," said Kirsten Drejer, Ph.D., CEO of Symphogen.

- check out the press release
- read the story from BioWorld

Battelle Ventures, Apax Partners spin off companies

Wed, 04 Jun 2008 06:59:54 -0400

There are two new spin-offs to announce today. First, Battelle Ventures has spun out regenerative medicine start-up NellOne Therapeutics from the U.S. Department of Energy's Oak Ridge National Laboratory. NellOne gets an initial investment of $1.5 million, which will be tranched based on key technical milestones.

Meanwhile, Sense Proteomic has been spun out as a biomarker discovery company; previously it was a subsidiary of Procognia, which makes bioscience tools. Apax Partners is backing the new company. Sense Proteomic will be using its protein array platform to discover panels of auto-antibody biomarkers in cancer and autoimmune diseases.

- see the release on NellOne
- here's the announcement on Sense Proteomic

Related Article:
Tips for funding a biotech start-up

Daiichi snares Germany's U3 in $235M acquisition

Wed, 21 May 2008 06:59:58 -0400

Daiichi Sankyo is buying Germany's U3 Pharma for $235 million in cash. The Japanese pharma company gains a developer that's been winning kudos for its work developing antibodies to fight a variety of cancers. And its lead program is bound for the clinic later this year.

Edmond de Rothschild Investment Partners has been backing U3 since 2003, when it was won over by the research work of Axel Ullrich of the Max Planck Institute. Ullrich's research has helped create such cancer blockbusters as Herceptin and Sutent.

"Our acquisition of U3 Pharma is an ideal strategic fit for our oncology portfolio," said Takashi Shoda, president and CEO of Daiichi Sankyo. "We currently have three human monoclonal antibodies in development. Additionally, in March, 2008, we announced that we were expanding our joint research venture with another German company, MorphoSys, for its advanced Human Combinatorial Antibody Library and its phage display technologies."

- check out the press release
- read the AFX report

Dyax forges $231M development deal for DX-88

Thu, 24 Apr 2008 06:59:57 -0400

Cubist Pharmaceuticals has agreed to pay Dyax $15 million upfront and up to $216.5 million more in potential milestone payments for collaboration rights to Dyax's experimental therapy for the prevention of blood loss during surgery in North America and Europe. Cubist will fund development costs for an ongoing Phase II trial of DX-88. And Dyax has co-promotion rights in the U.S. and retains development rights for other indications. The first $2.5 million milestone payment will be paid this year.

"As a potent plasma kallikrein inhibitor, DX-88 has the potential to be a breakthrough therapy in reducing blood loss and inflammation in multiple surgical indications," says Cubist CEO Mike Bonney. "There is a serious unmet medical need and a large market opportunity for a successful therapy here."

- see Cubist's release
- read the story in StreetInsider

PDL spins off biotech biz

Fri, 11 Apr 2008 06:59:58 -0400

After struggling for months to sell the company or some of its assets, PDL BioPharma has announced plans to spin off its biotech operations into a publicly-traded company. The new company will be capitalized with $375 million over the next three years. PDL BioPharma will keep its antibody humanization business, along with royalty revenues from its products. In a statement, PDL said the move will allow "investors to invest in and realize the benefits of each asset independently."

Additionally, PDL declared the special cash dividend following receipt of the proceeds from the company's recent sales of its commercial and cardiovascular products, and its biologics manufacturing facility. EKR Therapeutics bought Cardene, Cardene SR, Retavase, ularitide, and other products for $85 million, while Genmab bough PDL's Minnesota-based antibody manufacturing facility. PDL will distribute over $500 million to stockholders.

"...[F]ollowing our stated plan to evaluate mechanisms to distribute to our stockholders the benefit of our royalty stream, we are taking this definitive step of separating our biotechnology operations from our antibody humanization royalty assets, including such royalty revenues from all current and future licensed products. With this plan to spin off the biotechnology operations, investors can realize the value of each asset fully and independently," stated PDL chairperson Karen A. Dawes.

- see PDL's release
- and here's The Wall Street Journal article

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EUSA raises $50M to help fund Cytogen buyout

Tue, 11 Mar 2008 07:59:57 -0400

About four months after launching a review of its strategic alternatives, Cytogen has landed in the arms of EUSA, which has announced plans to buy the company for $22.6 million. Cytogen markets four cancer-related products and launched the review after its CEO departed last year. To complete the buyout, the UK's EUSA has raised $50 million from a consortium of venture groups led by TVM Capital.

"The acquisition of Cytogen is of great strategic importance for EUSA as it completes the building of our transatlantic commercialization infrastructure, as well as fitting perfectly with our focus on oncology and pain control," Bryan Morton, chief executive of EUSA, said in a statement.

- see the release
- read the story from the Star-Ledger

Related Articles:
EUSA, GSK ink $44M pre-clinical antibody deal. Report
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Amgen inks $520M deal with Kyowa Hakko

Thu, 06 Mar 2008 06:59:58 -0500

Amgen has inked a $520 million deal to acquire Kyowa Hakko's humanized monoclonal antibody (MAb) KW-0761, a treatment for inflammation and oncology settings. Tokyo-based Kyowa Hakko gains $100 billion up front and up to $420 million in development, approval and sales milestones. Amgen has worldwide rights to the drug outside of Japan, Korea, China and Taiwan. KW-0761 is currently undergoing Phase I studies for lymphoma patients; a trial in allergic rhinitis patients has already been completed.

MAbs are currently one of the most attractive segments of the biotech industry. A recent Datamonitor report projected 14 percent annual growth in the market for the antibody drugs, by far the fastest-growing segment of the industry.

- here's Amgen's release

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EUSA, GSK ink $44M pre-clinical antibody deal

Tue, 19 Feb 2008 06:59:54 -0500

EUSA Pharma will keep about half of the $44 million in up front fees and milestones it is scheduled to receive from GlaxoSmithKline for a license covering a pre-clinical antibody targeted at lymphoma and rheumatoid arthritis. The other half goes to its development partner, Vaccines Inc. The antibody--OP-R003--is a protein that targets interleukin-6, a common target for a number of drug developers.

"The out-licensing of this early-stage antibody is another strategic milestone for EUSA, as we continue to focus our business on marketed and late-stage products in the oncology, pain control and critical care areas," said Bryan Morton, CEO of EUSA, a developer based in the U.S. and the U.K.

- read the release for more info

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Analysis: OncoMed deal puts a premium on preclinical

Mon, 14 Jan 2008 06:59:55 -0500

OncoMed's $1.4 billion antibody development pact with GlaxoSmithKline is dissected by the San Francisco Business Times, which highlights just how unusual it is for preclinical programs to earn that kind of potential reward. Researchers at OncoMed have been focused on developing antibodies that can target cancer stem cells, greatly increasing the chance that a patient's cancer can be knocked out without a recurrence.

"There was speculation that Big Pharma would not do large deals like this for preclinical candidates," says attorney Alan Mendelson, who represented OncoMed during the negotiations. "I think the OncoMed deal is evidence that, for the right technology, with the prospect of multiple product opportunities, the farsighted pharmaceutical companies are doing some preclinical transactions."

- read the report from the San Francisco Business Times

Related Articles:
GSK offers $1.4B to license OncoMed therapies. Report
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Wyeth takes another look at antibody pact

Thu, 06 Dec 2007 06:59:54 -0500

In yet another sign of monoclonal antibodies' popularity among big drug developers, Wyeth has extend its evaluation of selected Raven Biotechnologies MAb antibodies. Raven, which signed a pact with Wyeth earlier this year, will receive an undisclosed milestone payment.

2007 hasn't been a pretty year for Wyeth. A string of woeful developments has left the company stripped of three of its leading drug candidates, and the drug developer could certainly use MAb technology to revive its pipeline. A new Datamonitor report projects 14 percent annual growth in the market for the antibody drugs, which mimic the body's own immune system. Raven was a 2003 Fierce 15 company.

- see this release for more

ALSO: Take a look at Wyeth's pipeline. Report

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Novartis, MorphoSys ink $1B antibody deal

Mon, 03 Dec 2007 06:59:58 -0500

There's fresh evidence this morning that antibodies remain one of the hottest commodities in biotechnology. Novartis has extended its antibody development deal with Germany's MorphoSys, agreeing to pay $60 million a year in R&D support along with technology access fees and up to $400 million in milestone payments. Investors loved the major league endorsement of MorphoSys, sending its shares up 32 percent. Novartis gains access to MorphoSys' library of antibodies, expanding a pact that was originally signed three years ago. The pharma giant also gains an option to extend the deal by another two years. Analysts applauded the deal and seemed particularly enthusiastic about the length of Novartis' commitment.

- see the release on the deal
- check out the AFX report for more

ALSO: MorphoSys used the attention garnered by the announcement to say that much of the money it gains from Novartis will go into developing its own pipeline. Report

PLUS: Read more about Novartis' pipeline. Report

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Genmab maps Phase III strategy HuMax-CD20

Tue, 20 Nov 2007 06:59:54 -0500

Denmark's Genmab is laying plans to launch a late-stage study of its closely watched antibody HuMax-CD20 (ofatumumab) as a treatment for rheumatoid arthritis. Licensed by GlaxoSmithKline in a $2.1 billion pact, HuMax-CD20 is also being studied as a potential treatment for blood cancers. The trial will focus on two patient groups, one demonstrating an inadequate response to methotrexate therapy and another group that has had an inadequate response to TNF-alpha antagonist therapy.

"From the data to date, we believe that ofatumumab has real potential," says Genmab CEO Lisa N. Drakeman, Ph.D. "Now that Phase III studies are underway in multiple indications, we are moving closer to realizing this potential and bringing this important treatment to patients."

- take a look at the release for more info

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Anaptys pockets $33.9M in second VC round

Mon, 12 Nov 2007 06:59:54 -0500

Anaptys Biosciences has raised $33.9 million in its second venture round. The San Diego-based biotech garnered money from Novo A/S, Frazier Healthcare Ventures, Alloy Ventures, and Avalon Ventures. Much of that money will be put to use advancing the company's technology for antibody development and optimization.

- check out the release for more

ALSO: Piedmont Pharmaceuticals has secured $8.5 million in Series B financing from CM Capital Investments of Brisbane, Australia, and other investors. Release

PLUS: Cambridge, MA-based Ensemble Discovery, a developer of a DNA-programmed chemistry platform for developing therapeutics and bioassays, has raised $15 million in Series B funding. Report

Related Article:
The Top 5 VC deals of the first half of 2007. Report

GPC Biotech reports Q3 results, layoffs

Fri, 09 Nov 2007 06:59:58 -0500

GPC Biotech is regrouping after last week's announcement that a Phase III trial of its prostate cancer drug candidate, satraplatin, failed to help patients live longer in a critical trial. With the possibility of near-term revenue from satraplatin gone, GPC said it will reorganized in order to make its $87 million in cash last through 2009. "Numerous cost-cutting measures to be implemented shortly, including a significant workforce reduction," the company stated in a release. No word yet on just how significant the cuts will be.

GPC will continue Phase II testing of satraplatin. In addition, the company has a Phase I monocolonal antibody in development, and plans to advance a small-molecule drug candidate into Phase I testing in the near future.

- see GPC's Q3 results
- read this Motley Fool item

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Scientists raise warnings over MS drug study risks

Thu, 01 Nov 2007 07:59:55 -0400

American scientists are raising a red warning flag over proposed studies of the drug minocycline for several neurodegenerative conditions. Reporting in Lancet Neurology, the researchers say that patients taking the off-patent minocycline for Lou Gehrig's disease declined more rapidly than the control group taking a placebo. That report comes as Canada's MS Society is funding a Phase III trial to determine if the drug can work to slow MS if it is administered during the early stage of the disease.

- check out the report from the Canadian Press

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ALSO NOTED: Genmab gets milestone payment from Roche; Mylan appoints CEO; and much more...

Wed, 03 Oct 2007 06:59:50 -0400

> Roche has filed a Clinical Trial Application for a Genmab antibody developed under the companies' collaboration. The CTA triggers a milestone payment for Genmab, the amount of which is undisclosed. Release

> Mylan has appointed Heather Bresch as CEO. Release

> San Diego-based medical device maker Vital Therapies has raised $28.1 million Series C financing. The new capital will support continued developed of ELAD, a human cell-based artificial liver. Release

> Here's a strategy for penetrating the market when state healthcare won't yet pay for your drug: Cut the price. Roche is doing just that with Tarceva, its lung cancer treatment. Report

> The FDA found "significant violations" of manufacturing rules at a French plant that produces Genzyme's Thymoglobulin drug for kidney transplants. Report

And Finally... Nigeria v. Pfizer in the matter of a meningitis vaccine trial went back to court today, with a judge allowing the authorities there to summon Pfizer and nine company officials to the country to defend themselves. Report

ImmunoGen surges on milestone trial achievement

Wed, 01 Aug 2007 06:59:54 -0400

Shares of ImmunoGen took off yesterday after the biotech announced that Genentech's launch of a mid-stage cancer trial for trastuzumab-DM1 would trigger a $5 million milestone payment. The drug, which is being developed to treat a certain kind of breast cancer, is a combination of ImmunoGen's cell-killing agent and an antibody from Genentech. Analysts called the start of the Phase II trial as a significant validation of ImmunoGen's technology. Genentech has a pact to use ImmunoGen's technology in its drug discovery work.

- see ImmunoGen's announcement
- check out the AP report for more info

Related Article:
Genentech touts pipeline prospects as doubts fester. Report
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Genmab regains HuMax-CD4 rights

Fri, 29 Jun 2007 00:01:35 -0400

Denmark's Genmab has regained the rights to the antibody Humax-CD4 from Merck Serono. Genmab granted Merck Serono worldwide rights to develop and market Humax-CD4, which is used for treatment of T-cell lymphomas, an immune system related cancer form, two years ago. The company says it will continue the development of the antibody and will further work targeting the CD4 receptor as a mechanism to prevent or slow HIV infection.

"We are very enthusiastic about having HuMax-CD4 back in the hands of Genmab's experienced clinical development team," said Genmab chief executive Lisa N. Drakeman.

- check out Genmab's release
- here's the report from Hemscott

Related Articles:
Glaxo forges $2.1B deal for HuMax-CD20. Report
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VC: Cylene leads with $44M round

Wed, 24 Jan 2007 19:01:32 -0500

Cylene leads with $44M round

VENTURE CAPITAL
COMPANY	AMOUNT/ROUND	LEAD INVESTORS	DESCRIPTION
Cylene Pharmaceuticals San Diego	$44M Third	HBM BioVentures and Lilly Ventures	The round provides funds for the clinical advancement of small molecule cancer therapies.
4-Antibody Switzerland	$18.5M First	Advent Venture Partners	The developer plans to use the money advance new antibodies.
Claros Diagnostics Woburn, MA	$7.8M First	Oxford Bioscience Partners	Much of the money earmarked for the development of its handheld diagnostic testing system.
EyeGate Pharma Waltham, MA	$2M Second	Nexus Group	EyeGate is exploring the use of iontophoresis technology to deliver therapeutics for ocular indications.

4-Antibody gains$18.5M in first round

Mon, 15 Jan 2007 19:01:34 -0500

Switzerland's 4-Antibody AG has rounded up 17 million Swiss Francs ($18.5 million) in its first round of development. The developer plans to use the money advance new antibodies. The U.K.'s Advent Venture Partners led the round, which was announced on Monday.

"The success of our Series A financing is a recognition of the potential of our proprietary 4mAb(TM) platform to generate novel fully human antibodies against a broad range of disease targets," said Sijmen de Vries, CEO of 4-Antibody AG.

- here's the release for more information