> Pfizer ($PFE) acquisition target AM Pharma secured orphan drug designations from FDA and the European Medicines Agency (EMA). The statuses apply to recAP for the treatment of the genetic disorder hypophosphatasia. Bunnik, the Netherlands-based AM Pharma--which struck a $600 million (€530 million) buyout option pact with Pfizer last month--is testing recAP in a Phase II trial in patients with acute kidney injury. Hypophosphatasia, a disorder that causes soft bones, is another, as yet not fully explored, option for the development of recAP. Release
> Shares in Sobi (STO:SOBI) dropped as much as 16% after the Swedish-American biotech said it had pulled out of takeover talks. Reports Pfizer ($PFE) was readying a $5 billion (€4.4 billion) bid for the company had swelled its stock price but whatever buyout offer was proposed was never considered serious enough to warrant being put before the board for a full review. While the news has quelled takeover talk for now, Sobi's willingness to entertain a buyout and Biogen ($BIIB) and Pfizer's links to the company mean such chatter could resurface in the future. FierceBiotech
> UCB (EBR:UCB) exercised its option to license a neurological disease program from Oncodesign. Dijon, France-based Oncodesign snagged an upfront fee in return for the license, while also setting itself up to receive milestones if the program progresses. UCB began working with Oncodesign in 2013 to access its medicinal chemistry technology Nanocyclix, a proprietary approach intended to enable kinase inhibitors to cross the blood-brain barrier. Release
> Actelion (VTX:ATLN) reportedly knocked back a £12.4 billion ($18.9 billion) bid from Shire ($SHGP). The mooted deal, which was reported in The Sunday Times, would represent a consolidation of two of Europe's few truly mid-sized biopharma companies. Actelion jumped to new highs in the wake of the report. But Shire will need to return with a bigger premium than the 20% it proposed if it is to be the company that finally persuades Actelion to give up its independence, particularly given the Swiss biotech's rosy near-term outlook. FierceBiotech
> Intec Pharma (TASE: INTP) became the latest Israeli biotech to pitch up on Wall Street in search of money. The drug delivery specialist is seeking $46 million (€41 million) to finance a Phase III trial of a Parkinson's disease treatment built upon its accordion pill technology. Intec, which has spent 15 years plugging away at the delayed-release drug delivery technology, bagged a $150 million deal with an unnamed major pharma company in April. F-1 | Globes
> Abivax pitched terms for its Parisian IPO. The Cuba-linked biotech could raise €57.7 million ($64.8 million) if it hits the midpoint of its range and sells the overallotment, a sum of money that would finance the clinical development of its therapeutic hepatitis B vaccine and small molecule to treat HIV. Abivax expects to close the offering on June 22, positioning it to become the latest biotech to start trading on the Paris stock exchange before the end of the month. FierceBiotech
> Alzheimer's disease specialist AC Immune revealed it will consider going public or selling up if its Roche ($RHHBY)-partnered amyloid beta protein-targeting drug crenezumab advances into late phase trials. The drug delivered underwhelming data in a Phase II trial last year, but Roche is still open to advancing it to the next stage, in part because the results of a Biogen ($BIIB) trial have bolstered its belief in the amyloid beta hypothesis. Bloomberg | More