Federated Investors has bought an 8.6% stake in arGEN-X. The deal sees arGEN-X sell shares worth €16 million ($17.5 million) to the major U.S. asset manager, giving it additional financial firepower at a time when it is closing in on clinical proof-of-concept trials for a clutch of key drugs.
Actelion CEO Jean-Paul Clozel has dismissed the possibility of making a bid to buy Basilea Pharmaceutica. The comment quashed speculation that Actelion and Basilea could find solutions to their respective challenges by merging.
University College London (UCL) is getting into the venture capital game. The university, which has spawned a host of biotechs, has rounded up £50 million ($71 million) from the European Investment Fund and Imperial Innovations to enable it to financially support spin out companies.
A joint venture between Biogen and South Korean giant Samsung won Europe's first approval for a lower-cost version of Amgen and Pfizer's blockbuster Enbrel, planning to launch its injection in the coming weeks.
Our top stories in this week's EuroBiotech Report involve the transfer of more than $100 million (€92 million) from the wallets of investors to the bank accounts of biotechs. Cardiorentis led the way with a $60 million round. And more.
Oxford BioMedica says the U.K.'s Medicines and Healthcare products Regulatory Agency (MHRA) has given approval to its new biomanufacturing facility in Yarnton, Oxford, to manufacture bulk drug material for Investigational Medicinal Products.
BioLineRx has become the latest company to stake its claim for a spot on the burgeoning roster of immuno-oncology combinations. The small biotech is aiming to muscle into the sector by showing its CXCR4 antagonist BL-8040 can boost the effectiveness of Merck's Keytruda in metastatic pancreatic adenocarcinoma.
Novartis is on the verge of offloading its former R&D site in Horsham, U.K., to the local council. The agreement of initial terms with West Sussex council comes 8 months after the University of Brighton backed out of a deal because it was unable to secure government funding.
Cardiorentis has raised CHF 60 million ($60 million). The investment bolsters the biotech's bank balance at a time when it is nearing the end of a Phase III trial of its drug for acute decompensated heart failure, data from which are due to be submitted to regulators later this year.
Novimmune has tapped existing investors for CHF 30 million ($30 million) to support the advance of its pipeline, particularly a therapy for a rare immune system disorder that is making its way through Phase II. The fundraising brings the total raised by the company in its 18-year history up to $245 million.