EuroBiotech: More Articles of Note

A pile of newspapers

> Boehringer Ingelheim struck a schizophrenia R&D pact with Danish ion channel drug discovery specialist Saniona. The agreement sees Boehringer pay €5 million ($5.6 million) upfront and commit to up to €85 million in milestones to enter into a joint research collaboration. Through the alliance, Boehringer and Saniona hope to identify compounds capable of restoring brain network activity in schizophrenia patients. Release

> Takeda plans to close its Cambridge, U.K., facility and spin off the site’s key programs into a biotech. The new, as-yet-unnamed biotech will receive drug development programs and funding from Takeda, giving the Japanese company the chance to profit from the assets while shedding the fixed cost of its Cambridge facility. Takeda is closing the site as part of a push to consolidate its R&D operation at facilities in the U.S. and Japan. Article

> Alcobra ($ADHD) pushed back the anticipated readout from a Phase III trial. The Israeli drugmaker had advised investors to expect data from the trial of MDX--metadoxine extended release--in people with attention deficit hyperactivity disorder by the end of 2016. But in its latest results Alcobra bumped back the readout to the first quarter of 2017. Investors wiped 15% off Alcobra’s already depressed stock price following the release of the update in its financial results. Release

> Erytech (EPA:ERYP) completed enrollment in its Phase IIb acute myeloid leukemia (AML) trial. The milestone sets Erytech up to deliver data from the study in the second half of 2017. Erytech has enrolled 123 newly diagnosed AML patients who are ineligible for intensive chemotherapy into the trial. Release

> Shares in Kamada ($KMDA) jumped 15% after it reported a Phase II trial of its candidate against alpha-1 antitrypsin deficiency met its primary endpoint. Armed with the data and results from an earlier, European Phase II/III study, Kamada is set to talk to FDA about the regulatory path forward for the program. Kamada plans to design a pivotal trial to satisfy FDA, while also using the new data in its discussions about approval in Europe. Release

> Karolinska Development (STO:KDEV) knocked the total fair value of its portfolio down again. The latest drop of SEK 75.8 million ($8.9 million) follows the write-down of the entire value of ClanoTech, a drug developer KDEV recently divested to Rosetta Capital. KDEV now puts the fair value of its portfolio at SEK 401.2 million, well down on the SEK 1,846 million it claimed a few years ago. The drop follows a change in accounting method and the offloading of assets. Release