EuroBiotech: More Articles of Note

> Faron Pharmaceuticals listed on London's AIM. The IPO added £10 million ($15 million) to the bank balance of the Finnish drugmaker, giving it money to advance its lead candidate into a Phase III trial. Faron is developing the drug, traumakine, as a treatment for acute respiratory distress syndrome. Another tranche of the funding will go toward preclinical testing of an immuno-oncology asset. Release

> Medivir (STO:MVIR-B) scrapped a pancreatic cancer research program in a semiannual review of its pipeline. The ADAM8 inhibitor project, which has yet to advance into preclinical development, was given the chop on the strength, or lack thereof, of the data it generated over the past 6 months. By dropping the program, Medivir also scrapped a licensing agreement with Cancer Research Technology and a collaboration with TransMIT. Release

> BioBlast Pharma ($ORPN) continued to move the focus of its operation from Israel to the U.S. with a rejig of its management team. The reorganization saw BioBlast make new appointments at the top of its R&D, manufacturing and medical units. All of the new hires are based out of the U.S. and have global responsibilities. Leading figures from the early days of BioBlast, including co-founder Dalia Megiddo, are stepping aside to make way for the new recruits. Release

> VC shop HealthCap opened an office at Oslo Cancer Cluster Innovation Park. The move gives the fund, which is best known for bankrolling Algeta to a $2.9 billion (€2.7 billion) buyout from Bayer, a front-row seat to view the progress of Norwegian oncology startups. HealthCap has given Ludvik Sandnes, the chairman of its portfolio company Nordic Nanovector, oversight of the Norwegian operation. Release

> Cellectis ($CLLS) sold the rights to its CAR-T therapy UCART19 to Servier, which, in turn, flogged its claim to sell the product in the U.S. to Pfizer ($PFE). The chain of events leaves Cellectis $38.2 million (€35.7 million) better off. But Servier keeping the financial terms of its deal with Pfizer a secret raises an open question: How much more could Cellectis have pocketed if it sold the rights directly? FierceBiotech

> The market cap of Genmab (CPH:GEN) topped $7 billion (€6.5 billion) in the wake of the FDA's rapid approval of Darzalex, the multiple myeloma drug it developed with Johnson & Johnson ($JNJ). Genmab is set to receive royalties of up to 20% on sales of Darzalex under the tiered agreement it signed with J&J, setting it up to secure a notable source of revenue if the drug lives up to its predicted blockbuster status. Reuters | FierceBiotech

Suggested Articles

Medimmune’s Ronald Herbst, Ph.D., has followed a series of other AstraZeneca and its biologics arm staffers out the door.

The takeover will give Alexion two clinical-phase medicines in development in complement alternative pathway-mediated rare diseases.

Last year, Eli Lilly spent $1.6 billion to get its hands on Armo Biosciences and its lead asset, pegilodecakin. Today, that drug flopped.