ThromboGenics (EBR:THR) outlined plans to cut its workforce in the U.S.. The Belgian biotech is taking the action in an attempt to break even in the U.S. next year despite sales of Jetrea falling well short of expectations. Sales in the U.S., where ThromboGenics holds the rights to Jetrea, totalled €4.25 million ($4.8 million) in the first half of 2015. Shares in ThromboGenics fell by 20% following the release of the figures. Release
Merus raised €73 million ($82 million) with the help of the VC wings of Johnson & Johnson ($JNJ), Novartis ($NVS) and Pfizer ($PFE). Sofinnova Ventures and Novo A/S co-led the round, which gives the Dutch immuno-oncology player cash to ramp up its clinical trial activities. In April, Merus CEO Ton Logtenberg said the company was looking to an IPO on NASDAQ for a future cash injection. FierceBiotech
Genmab and Johnson & Johnson ($JNJ) published data from their sprawling suite of daratumumab clinical trials. The latest data show daratumumab achieved an overall response rate of 36% in a study of 42 people with late-stage multiple myeloma. With the response rate surpassing the level achieved in an earlier study, investors saw the data as another encouraging sign for Genmab and sent its stock up 7%. FierceBiotech
ReNeuron wrapped up its £68.4 million ($105 million) placement. The placement saw Neil Woodford place a hefty bet on ReNeuron, giving the company the cash it needs to advance its pipeline of cell therapy treatments for stroke and blindness. Data from a Phase II trial of a stem cell-derived therapy for stroke are due to land in the first half of next year. Release
Karolinska Development (STO:KDEV) posted its second quarter results. Losses grew year-on-year but CEO Jim Van Heusden talked up the company's progress. "We have evolved our strategy so that we can achieve our medium-term goal of becoming a leading Nordic Venture Capital company," he said. As part of the new strategy, Karolinska Development has started building relationships with life science investors to give its portfolio companies access to more sources of cash. Release
TxCell secured funding to move its second lead asset Col-Treg into clinical trials. The French government provided the money to a consortium headed up by TxCell, the main objectives of which are to sort out process development of the autologous collagen type II specific Treg immunotherapy before advancing it into the clinic as a treatment for autoimmune uveitis. Release