EuroBiotech Report: More Articles Of Note

Clal Biotechnology (TASE:CBI) settled its dispute with Hyperion Therapeutics ($HPTX). The agreement sees an independent committee made up of representatives of Clal, Hyperion and the Weizmann Institute of Science's Yeda take responsibility for overseeing a Phase III trial. Clal as the option to reacquire the program for $3.5 million (€3.1 million) upfront and $36.5 million in milestones once it has seen the data. FierceBiotech

Karolinska Development (STO:KDEV) wiped more money off the fair value of its portfolio companies. The fourth quarter dip took the decline in fair value decline for 2014 up to SEK 310 million ($37 million), resulting in a 13% year-on-year drop. KDEV is now applying the co-investment strategy it has taken with Forendo Pharma to the rest of its portfolio in an attempt to improve its fortunes. The company is currently looking for a CEO to lead the revival. Release

Nijmegen, the Netherlands-based Lead Pharma struck a deal with Sanofi ($SNY). The Dutch biotech snagged an undisclosed upfront fee from Sanofi to collaborate on drugs targeting ROR gamma t, a pool of nuclear hormone receptors with links to rheumatoid arthritis, psoriasis and inflammatory bowel disease. Sanofi plans to have a drug in the clinic within four years. FierceBiotech

Immunservice wrapped up a Series C round to finance development of its immunotherapy pipeline, which is based around interleukin 2. Hamburg, Germany-based Immunservice is focusing on renal cancer and melanoma and has picked up an orphan designation in Europe for its inhaled version of interleukin 2. Dr. Michael Otto joined existing investors for the Series C round. Release

Belgian biotech ActoGeniX accepted a $60 million (€53 million) buyout offer from Intrexon ($XON). The evenly split cash-stock offer amounts to 30% more than what GIMV, Biotech Fund Flanders and other investors have ploughed into the company since ActoGeniX spunout of Flanders Institute of Biotechnology and the University of Ghent in 2006. In return for its $60 million, Intrexon is getting clinical-phase oral mucositis and inflammatory bowel disease candidates. FierceBiotech

Galapagos (AMS:GLPG) signaled its intent to look into Phase II trials of GLPG1690 after an early-stage study generated satisfactory data. Mechelen, Belgium-based Galapagos is developing the candidate as part of its alliance with Johnson & Johnson's ($JNJ) Janssen. Galapagos is responsible for development of the pulmonary disease candidate up to Phase IIa, after which Janssen has the option to pick up the program. Release

VBL Therapeutics ($VBLT) saw its stock sink 65% after the placebo outperformed VB-201 in two Phase II trials. The failure of the psoriasis and ulcerative colitis trials persuaded the Israeli biotech to scrap any plans to further develop VB-201 in either indication. The company's hopes now rest on VB-111, a treatment for recurrent glioblastoma (rGBM) that is clear to advance into Phase III now FDA has lifted its clinical hold. FierceBiotech

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