EuroBiotech: More Articles of Note

> Evofem joined the short list of U.S.-based biotechs to consider listing in London. Reuters reports that San Diego, CA-based Evofem is working toward an IPO in the United Kingdom to raise around $200 million (€177 million), a sum that put it in the upper echelons of European offerings this year. If the plan comes to fruition, the women's healthcare specialist will join fellow Californian biotech Verseon (AIM:VSN) on the exchange. Verseon received investment from Neil Woodford, the big-name British fund manager who already has a stake in Evofem. Reuters

> Malin committed to identifying a complete asset portfolio within the next year. Management at the biotech fund, which pulled off a €330 million ($372 million) IPO earlier this year, made the comment after making a €34.5 million investment in an Irish specialty pharma company. The deal moved Malin a step closer to its previously stated goal of having a portfolio of 10 to 12 companies. As it stands, the fund has invested in 9 firms, 7 of which were already earmarked as investment targets at the time of the IPO. The Irish Independent

> Bloomberg profiled AB Science, a French biotech that has taken a scattergun approach to R&D. The company is running 24 trials in Europe and has tested its lead candidate--the tyrosine kinase inhibitor masitinib--in more than 20 indications. To date, the unusual approach has failed to deliver approvals, with a clearance to treat cancer in dogs the only regulatory nod to AB Science's name. That could change if data from a trial in patients with the rare immune disorder mastocytosis impresses when it is published later this year. Bloomberg

> The CFO of Cosmo Pharmaceuticals (SIX:COPN) said he will fire himself and everyone else if the company's dermatology-focused spinout fails to pull in more than CHF 100 million ($107 million) when it goes public. Milan, Italy-based Cassiopea is set to list on the Swiss stock exchange in an IPO that will allow its parent company Cosmo to cut its stake from 97% to below 50%. The spinout is aiming to bring its lead product to market in the U.S. by 2018, before which it must generate Phase III data that could prompt Cosmo to consider selling the business. Bloomberg

> Shares in RedHill Biopharma ($RDHL) jumped 15% after its antibiotic treatment against Helicobacter pylori infection achieved an 89.4% cure rate in a Phase III trial. The cure rate represents a significant improvement over the 70% figure achieved historically by the standard of care. RedHill ran a placebo arm in the trial--the cure rate in which was 0%--but set its primary endpoint as performance against the historic cure rate. A second Phase III trial is in the works, and RedHill is planning to meet with the FDA to talk through the path to approval. FierceBiotech

> Polyphor became the latest Roche ($RHHBY)-partnered Swiss biotech to moot an IPO. Talks with banks are already underway in an attempt to gauge interest ahead of a possible listing next year. The plan continues the slow reawakening of the Swiss biotech IPO market, which began with the listing of Molecular Partners (SIX:MOLN) last year. That biotech IPO--the first to take place in the country since 2009--has encouraged others to roll the dice, with Cosmo Pharmaceuticals (SIX:COPN) spinout Cassiopea and Roche-partnered AC Immune limbering up for listings. Bloomberg

> Heptares Therapeutics posted early clinical data on one of the assets that persuaded Sosei to snap up the British biotech in a $400 million deal earlier this year. The data come from a Phase Ia trial of Heptares' lead candidate, a selective muscarinic M1 receptor agonist designed to address cognitive decline in dementia. Importantly, the data suggest the drug is only interacting with M1 and as such should be free from the off-target effects that stopped Eli Lilly's ($LLY) xanomeline from becoming a treatment for Alzheimer's disease. Release

> Medivir (STO:MVIR-B) outlined plans to lay off 10 staff members as part of a consolidation of its R&D service providers and exiting of neuropathic pain. The rejig will see Medivir funnel synthetic chemistry work to Indian CRO GVK Biosciences, which plans to take on 20 staff to handle the business. With Medivir also exiting neuropathic pain in response to negative preclinical safety data, the biotech finds itself with 10 more staff than it needs. The layoffs will affect facilities in the United Kingdom and Sweden. Release

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