> Karolinska Development (STO:KDEV) offloaded its stake in Athera Biotechnologies to a consortium led by The Foundation for Baltic and East European Studies (Östersjöstiftelsen) and Industrifonden. As part of the deal, Athera pocketed SEK 24 million ($2.8 million) to move its Phase I cardiovascular drug to the cusp of the next stage of development. As with many of KDEV's recent divestitures, the deal positions it to profit if Athera becomes a success story. Release
> OBN named John Harris as CEO. Harris joins OBN, an organization that supports life sciences startups in the United Kingdom, after a career that has included stints at Qube Associates, Vertical Pharma, Key Organics and Synerga. When Harris takes up the position later this month, Ross Sommerville, who has served as interim CEO since June, will step aside. Release
> Neovacs (EPA:ALNEV) became the latest company to join the immuno-oncology gold rush. The tiny French biotech, which to date has aimed its immunotherapy platform at lupus, decided to branch out into cancer after meeting with its scientific advisory board. Having reached the decision, Neovacs will try to develop drugs that neutralize VEGF-A and other tumoral growth factors. In doing so, the company thinks it can discover treatments for colorectal and ovarian cancers. Release
> TxCell (EPA:TXCL) bought back the rights to its lead product, Ovasave. Ferring agreed to pay $3 million (€2.8 million) to acquire an option on Ovasave in 2013, $2 million of which had been handed over as of April. Ferring transferred the agreement to Trizell, a fellow affiliate of the Dr. Frederik Paulsen Foundation, earlier this year, but now both companies have walked away from Ovasave. TxCell paid Trizell €2 million upfront and agreed to up to €15 million in milestones to retake control of the program. Release
> Santhera (SWX:SANN) sold shares worth CHF54.8 million ($54.4 million). The private placement gives Santhera greater financial muscle at a time when it is revving up commercial operations to support its recently approved treatment for Leber's hereditary optic neuropathy, while also preparing to file for approval of its Duchenne muscular dystrophy (DMD) drug in the U.S. and Europe. Santhera plans to file early next year. In parallel, Santhera is planning to start a trial in DMD patients using glucocorticoid steroids to expand the population in which its drug is eligible for approval. Release
> AB Science (EPA:AB), the French biotech known for its scattergun approach to indication selection, posted data from a Phase III trial of its lead candidate in people with mastocytosis. The 135-person trial met its primary endpoint, triggering a 7% rise in the share price of AB Science. To date, AB Science has only succeeded in winning approval for its lead candidate, masitinib, as a veterinary medicine. Release (PDF)