A report commissioned by the United Kingdom government has found data to corroborate a widely held belief: R&D collaborations with British universities are expensive. Yet with such institutions performing world-class science--and tax breaks and funding schemes offsetting the upfront costs--Big Pharma is lining up to strike deals. Just ask Pfizer.
A trio of Israeli biotechs have bagged $209 million (€192 million) through share offerings on Nasdaq. Chiasma led the way with a $101.8 million IPO, trailed by follow-on offerings by NeuroDerm and RedHill Biopharma that pulled in $66.9 million and $40 million, respectively.
Having committed €73 million ($79 million) to Immunocore's huge fundraising round, Kelly Martin's Malin has now nearly doled out the first tranche of the money it raised in its IPO. And as such the focus at Malin is shifting to helping its portfolio companies to grow, a process that will entail talking up the merits of setting up shop in Ireland.
Amgen may be running a beat or two behind Regeneron and Sanofi in search of the first FDA approval for a PCSK9 drug, but the Big Biotech scooped up the very first approval in Europe today for Repatha (evolocumab), giving the company boasting rights as first mover in what is widely seen as a new blockbuster market in the making.
In this week's EuroBiotech Report, Imperial Innovations snagged a £50 million ($78 million) loan from the European Investment Bank and chipped in to an £8 million Series A extension at Autifony. Securing the loan facility brings the amount Imperial Innovations has tapped EIB for since July 2013 up to £80 million, a sum that is contributing to an acceleration of its investment plans. And more.
DBV Technologies has filed for a $245 million (€224 million) share offering. Almost 40% of the mighty sum is earmarked for development of treatments for milk and peanut allergies, which the French biotech is trying to hustle to market ahead of its rivals' competitors.
Autifony Therapeutics has returned to its investors for £8 million ($12 million) to fund a broadening of its R&D ambitions. The company, which spun out of GlaxoSmithKline with an age-related hearing loss program in 2011, is now going after schizophrenia.
AC Immune has picked up a milestone payment in its CHF 400 million ($421 million) anti-tau collaboration with Genentech. The Roche subsidiary handed over the cash after selecting a tau-targeting antibody developed in the collaboration to advance toward the clinic.
The United Kingdom has put Cambridge at the heart of its £50 million ($78 million) push into precision medicines. Cambridge is to host the headquarters of the precision medicine network, from which a team will coordinate regional centers to support the advance of targeted therapies through the clinic and into real-world use.
Imperial Innovations has returned to the European Investment Bank for cash, signing off on a £50 million ($78 million) loan just two years after it tapped the same source for £30 million. The need to double-dip in the EIB funding font arose after Imperial Innovations stepped up its rate of investment.