Welcome to the latest edition of our weekly EuroBiotech Report. Forbion Capital Partners is ramping up its interest in central nervous system drug developers after observing a shift in the economics of the field. And, with €183 million ($207 million) in its freshly closed fund, the Dutch VC shop is in a position to back up its interest with hard cash. Elsewhere in Europe, Nabriva Therapeutics ($NBRV) and Symphogen advanced pipeline programs. Nabriva began a second Phase III trial of its antibiotic, while Symphogen hustled its anti-MET program into the clinic. Redx Pharma (LON:REDX) revealed it is setting up a new headquarters at AstraZeneca’s ($AZN) old Alderley Park campus. Macrocure ($MCUR), in the depths of a prolonged stock slump following a pair of Phase III flops, could lose its Nasdaq listing unless its fortunes improve. And more. Nick Taylor
1. Forbion to step up CNS investment activity after closing €183M fund
Forbion Capital Partners is set to step up its investment in central nervous system (CNS) biotechs. The European VC shop is committing to the strategy after observing a shift in the economics of CNS drug development, which it thinks makes biotechs in the field a more attractive target for its newly closed €183 million ($207 million) FCF III fund.
2. Nabriva starts second pivotal PhIII trial of antibiotic
Nabriva Therapeutics ($NBRV) has initiated the second of two pivotal Phase III trials of its antibiotic lefamulin. The latest study will administer an oral form of the antibiotic to people with moderately severe forms of community-acquired bacterial pneumonia (CABP), a protocol Nabriva thinks will deliver data that complement the results of its other Phase III trial.
3. Symphogen shuttles anti-MET program into PhI at MD Anderson, START
Symphogen has moved its anti-MET program into the clinic. The Phase I trial will ratchet up dosing of Symphogen’s mixture of two MET-targeting antibodies in patients with solid tumors, before adding an expansion cohort made up of patients with a pre-identified gene signature.
4. Redx to set up HQ at ex-AstraZeneca site in consolidation of R&D teams
Redx Pharma (LON:REDX) is set to open a new headquarters at AstraZeneca’s ($AZN) former Alderley Park site. The opening of the headquarters, which will double Redx’s footprint at Alderley Park, will enable the biotech to consolidate its disaggregated R&D teams, specifically by bringing the oncology group across from its current home in Liverpool.
5. Nasdaq puts Macrocure on notice following sustained stock slump
The back-to-back stock drops that hit Macrocure ($MCUR) following Phase III failures last year could cost the company its Nasdaq listing. Officials at the exchange have given the regenerative medicine biotech until October 4 to string together 10 consecutive closing prices of of $1 a share, something it has failed to do since January.