Joint Polish Investment Fund Management is claiming a first. The Warsaw, Poland-based group has reportedly become the country's first institutional venture capital fund dedicated to life sciences after it held the initial closing of its $42 million (€38 million) investment vehicle.
Norwegian drugmaker Weifa figures its consumer health biz and its contract active pharmaceutical ingredient operations both have a better shot at growth if they go their separate ways. To make that happen, Weifa plans on spinning the API business off into a contract manufacturing operation, with its first contract to make the APIs for Weifa.
Shares in Silence Therapeutics jumped more than 20% on the back of Phase IIa data. The small trial was designed primarily to assess the safety and pharmacokinetics of the pancreatic cancer drug, but that did little to deter investors from latching on to some encouraging early efficacy data.
Seventure Partners has added €25 million ($27 million) to its microbiome investment fund, bringing the total under management to €100 million. The move ups the financial firepower of the fund--which has invested in 5 companies since it started late in 2013--at a time when microbiome R&D is starting to take off.
Ex-Elan CEO Kelly Martin and his chums have persuaded some very rich people to back Malin's IPO. The list of investors in the IPO--which surpassed expectations to raise €330 million ($357 million)--includes the fund set up by SAS founder Jim Goodnight and Canada's wealthy and influential Tory family.
The United Kingdom is to change the laws governing startup investment vehicles known as Venture Capital Trusts (VCTs) but has opted against some of the dramatic alterations previously mooted. VCTs will still face new restrictions on the companies to which they can provide private equity cash, though.
In this week's EuroBiotech Report, Neil Woodford is tightening his ties to Malin, the investment vehicle set up by Kelly Martin and other former Elan executives. A report that Malin could hit the upper end of its range was one of two pieces of positive European IPO news to emerge this week. Nordic Nanovector was responsible for the other. And more.
Genmab has tweaked its pipeline, picking up assets from iDD Biotech while dropping the option to co-develop HuMax-TAC-ADC with ADC Technologies. The reshuffle leaves Genmab with a new array of assets to advance toward the clinic.
Actelion has presented detailed data on the drug it hopes will cement its position in the pulmonary arterial hypertension market, Uptravi. The shock-free data drove a small uptick in Actelion's stock, but fell short of being the blockbuster-guaranteeing release some were hoping to see.
Nordic Nanovector has increased the amount it is aiming to raise in its upcoming IPO by 25%. The cash will allow Nordic Nanovector to accelerate clinical development of the antibody-radio-conjugate Betalutin in its secondary indication, diffuse large B-cell lymphoma.