> GeNeuro began a phase 2a trial of monoclonal antibody GNbAC1 in Type 1 diabetes. The asset has advanced furthest as a possible treatment for multiple sclerosis but GeNeuro now also wants to assess its effect in diabetics. GeNeuro designed GNbAC1 to neutralize MSRV-Env, a protein the Swiss biotech thinks plays a role in multiple autoimmune disorders. Release
> Bioblast Pharma said it is transferring its listing to the Nasdaq Capital Market. The move was forced by Bioblast’s failure to meet the requirements for staying on the Nasdaq Global Market. Switching to the new market will solve some of Bioblast’s compliance problems but it will still need to maintain a minimum bid price of $1.00 per share. Statement
> Verona Pharma took another step toward its Nasdaq IPO. The respiratory disease specialist is now set to offload close to 4.5 million American depository shares, plus another tranche of stock in Europe. At its current price in London, that would see Verona pull in around $75 million (€70 million), close to one-third of which is expected to come from insiders. F-1/A
> Advent France Biotechnology held the first closing of its life science seed fund. The investment vehicle has secured €64.75 million ($69.7 million), most of which it will invest in early-stage life science companies in France. Advent secured money for the fund, its first focused on this niche, from backers including the €600 million Bpifrance-managed seed fund Fonds National d’Amorçage. Release (PDF)
> Bicycle Therapeutics received a milestone payment from ThromboGenics. The milestone was triggered by the advance of a diabetic macular edema candidate from the partners’ ophthalmology collaboration into preclinical development. Release
> Karolinska Development (KDEV) revealed its CEO is leaving the company. Jim Van heusden joined KDEV as CEO in 2015, at which time he was the fifth person to hold the position on a permanent or interim basis in six months. Van heusden’s two-year stint as CEO gave the company a relative period of managerial stability and enabled him to evolve the organization into a more conventional venture capital firm. But the changes are yet to translate into the hoped-for gains. The stock fell around 54% during Van heusden’s tenure. Statement