Celgene's Abraxane can't catch a break in England. Soon after losing coverage for pancreatic cancer on the country's dedicated Cancer Drugs Fund, the treatment got another thumbs-down from its official cost-effectiveness watchdogs.
Frédéric Lehmann has joined the ranks of R&D executives to swap life at a Big Pharma for a starring role at a biotech. The move sees Lehmann walk away from a 12-year stint at GlaxoSmithKline to take charge of the burgeoning immuno-oncology operation at Celyad.
Zealand Pharma has taken a step toward collecting milestones worth up to $160 million (€142 million) and double-digit royalties. The paydays are tied to the success of its diabetes alliance with Sanofi, the prospects of which were buoyed this week with the release of Phase III data.
Merck Serono is embarking on a €65 million ($73.5 million) R&D expansion at its headquarters in Darmstadt, Germany. The investment will fund the construction of a building to house different units of its drug discovery operation, enabling an all-under-one-roof approach Merck Serono is hoping will improve its fortunes.
Royal Philips aims to roll out a series of programs for chronic diseases that marry consumer-oriented device data with the electronic medical record. The idea is to give patients and healthcare providers access to all the relevant data and analysis to improve self-care and medical care.
The biotech arm of Merck KGaA is building a 16,000-square-meter addition to accommodate 200 research staffers, noting that the facility should be ready in 2017.
Infection prevention and control player Cantel Medical will purchase U.K. startup Medical Innovations Group for $79.5 million in cash. The acquisition adds a recently launched endoscope storage system as well as single-use endoscopy consumables, mobile cart systems and patient transport products.
In this week's EuroBiotech Report, Finland's Faron Pharmaceuticals and the U.K.'s Shield Therapeutics are both gunning for London IPOs, with the latter's £110 million ($169 million) fundraising goal setting the exchange up for a big-ticket end to 2015. And more.
BioGaia has funnelled SEK 35 million ($4 million) into the bank account of its subsidiary Infant Bacterial Therapeutics to tide the unit over while it considers how to finance clinical trials of an orphan drug. The next move could be a separate listing of the subsidiary.
Edmond de Rothschild Investment Partners and OrbiMed have co-led a $21 million (€18.8 million) Series A round in ReViral, a London-based biotech that is edging a drug against respiratory syncytial virus (RSV) toward the clinic.