In this week's EuroBiotech Report, the last week of July was a massive one for European biotech IPOs, with BioBlast Pharma, Innocoll, Macrocure, Mapi Pharma and VBL Therapeutics all heading to the Nasdaq. All of the companies struggled though. And more.
Germany's Merck KGaA is expanding its headquarters and manufacturing operations in Darmstadt, Germany. On Monday, Merck said it is investing about €27 million (about $36.3 million) to build two power plants that it says will provide more power more efficiently, while reducing carbon dioxide emissions in the area.
With the European Parliament's summer break causing progress on new General Data Protection Regulations to stop, cancer experts have taken the opportunity to criticize the proposal. Opponents of the changes warn they could make it practically impossible for researchers to access patient data for cancer research.
In this week's EuroBiotech Report, events in Gaza and Ukraine have cast a shadow over Europe, with sections of the Israeli biotech industry among the many groups indirectly affected by the fighting. And more.
In this week's EuroBiotech Report, the U.K. government underlined the importance it places on life sciences--and the jobs it brings--by creating a position dedicated to the industry, which is being filled by George Freeman, the former biotech venture capitalist who has shaped the government's life sciences strategy. And more.
After weeks of increasingly confident media speculation, Google has confirmed it is setting up an outpost of its venture capital wing in Europe. And with a brief to follow a similar strategy to the U.S. team that invested in Flatiron Health, DNAnexus and other biotech IT startups, the $100 million fund is a new source of capital for European life science innovators.
In this week's EuroBiotech Report, no politicians are rushing to Shire's rescue as it attempts to fend off AbbVie, but lawmakers in the United Kingdom are readying their strategies for the next time they do decide to intervene. And more.
While geopolitical instability in Eastern Europe would appear to make Russia a risky bet, the size of the market and incoming targets on drug production mean the likes of Abbott Laboratories are still investing. For companies unwilling or unable to strike deals like Abbott's $495 million buyout of Veropharm, a new option is tipped to emerge: CMOs.
Another piece of the United Kingdom's push to create a National Formulation Centre fell into place this week when a state-funded group joined with industry to commit £14.4 million ($24.7 million) to a product and process design facility. The new site will support companies with the development, prototyping and scale-up of formulated products.
Two hundred eighty scientists have signed an open letter threatening to boycott Europe's Human Brain Project. The scientists have fundamental concerns about exactly what Europe is trying to achieve with its €1 billion ($1.4 billion) budget.