EuroBiotech: More Articles of Note

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EuroBiotech logo> InDex Pharmaceuticals reported its toll-like receptor 9 agonist cobitolimod missed the primary endpoint in a 131-person ulcerative colitis trial. The drug failed to outperform placebo in terms of inducing clinical remission after 12 weeks. Despite this, InDex is preparing to move the drug into Phase IIb. Release

> E-Therapeutics (LON:ETX) parted company with its CEO, Malcolm Young. Young, who founded the company in 2003, has departed with immediate effect, although he may provide occasional advice over the next 6 months. Iain Ross will lead the company while it searches for a new CEO. The rejig at the top comes 5 months after the failure of a Phase IIb depression trial caused e-Therapeutics’ stock to slump. Release | More

> Acticor Biotech pulled in €1.4 million ($1.6 million), a little more than half of which was raised through the Anaxago crowdfunding platform. Business angels and research association ARMESA provided the rest of the money. Acticor will use the cash to fund preclinical development of ACT-017, an inhibitor of glycoprotein VI that the company thinks could improve the treatment of ischemic strokes. Release

> Valneva (EPA:VLA) secured a €25 million ($28 million) loan from the European Investment Bank. The French vaccine specialist plans to funnel the money into its Lyme disease and Zika virus programs. Valneva expects to move the Lyme disease vaccine into the clinic later this year. Work on the Zika virus vaccine is less advanced. Valneva recently generated a vaccine candidate, setting it up to perform preclinical tests. Release

> Avacta teamed up with Glythera to work on a class of therapeutics it thinks could supersede antibody drug conjugates. The collaboration pairs Glythera’s conjugation chemistry with Avacta’s alternatives to antibodies. “This partnership with Glythera will further demonstrate the utility of the Affimer platform as a powerful approach to generating a broad range of biotherapeutics, creating opportunities for third party licensing of the platform,” Avacta CEO Alastair Smith said in a statement. Release

> Blink Biomedical closed its Series A round. The closing added €1.65 million ($1.8 million) to the round, bringing the total raised by the French oncology player through the Series A up to €5.65 million. Idinvest Partners contributed the additional funding. Blink will use the money to further its research into drugs against three targets, including a GPCR it claims was thought undruggable prior to the application of its technology. Release