EuroBiotech: More Articles of Note

> Karolinska Development (STO:KDEV) posted another drop in the fair value of its portfolio. Citing the "difficult market environment," KDEV cut around 18% off the total fair value and even more off its net figure, which has now slumped to SEK 267.7 million ($31.4 million). In recent years, KDEV has calculated the value of its portfolio as being as high as SEK 1,846 million, but a change in accounting method, the sale of some assets and the failure of others to flourish as hoped has driven the figure downward. KDEV is running a leaner internal operation, too, with costs set to fall 30% this year. Release

> Oxford BioMedica (LON:OXB) proposed an £8.1 million ($11.3 million) placement. The money will bolster the finances of the Novartis ($NVS)-partnered gene and cell therapy specialist at a time when it is preparing to advance a pair of candidates into Phase I/II trials. The drugs, OXB-102 and OXB-202, are being developed as treatments for Parkinson's disease and corneal graft rejections. Both trials are set to start over the coming 12 months, a period in which Oxford BioMedica hopes to step up its business development activities. "We are in discussions with several parties concerning out-licensing of our intellectual property," CEO John Dawson said in a statement. Release

> OncoQR ML started touting its pancreatic cancer vaccine TYG100 to potential partners. The Vienna, Austria-based biotech outlined its interest in finding "strong partners for fast track clinical development" of TYG100 in a release about preclinical data. In nonhuman primates, OncoQR saw immune responses within two weeks of administering a single dose of TYG100. OncoQR is presenting the data as evidence to support its belief the gastrin-17-targeting TYG100 can succeed where similar vaccines have failed. A G17-targeted vaccine developed by Aphton missed the primary endpoint in a  Phase III trial in 2005. Aphton filed for bankruptcy the following year. Release

> PolyPid pulled in $22 million (€20 million) to start a Phase III trial of its antibiotic drug reservoir. The sum, which is a touch more than the amount PolyPid aimed to raise in the second of its aborted attempts to go public, will enable PolyPid to get a Phase III trial of its antibiotic drug reservoir off the ground, while continuing to push a tibia fracture medical device toward approval in Europe. Petah Tikva, Israel-based PolyPid turned to longtime supporter Aurum Ventures and new backer Shavit Capital for the cash. Release | FierceBiotech

> Novo Nordisk ($NVO) posted positive data from another Phase III trial of its weekly diabetes drug, semaglutide. The data readout follows similarly positive outcomes from four other studies, including a trio that put semaglutide up against Merck's ($MRK) Januvia, AstraZeneca's ($AZN) Bydureon, Sanofi's ($SNY) Lantus. Data from the next component of the clinical trial program, a 3,000-person study to assess long-term outcomes, are due later this year. FierceBiotech

> Shares in Zealand Pharma (CPH:ZEAL) jumped after Sanofi ($SNY) used a priority review voucher to push their diabetes combination drug toward the front of the queue at FDA. Zealand is contributing its GLP-1 peptide agonist lixisenatide to the combination, positioning it to pocket milestones and royalties if the drug comes to market. With Sanofi using the priority coupon it bought from Retrophin ($RTRX) for $245 million deal to shave four months off the review time, Zealand has lurched closer to securing this income. The Danish drugmaker traded up more than 10% following the news. FierceBiotech

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