A few months ago, the European Medicines Agency followed through on a threatened continental marketing halt affecting about 700 drugs in Indian CRO GVK Biosciences' generic lineup due to allegations of manipulated trial results. Now, Germany's regulators have suspended another 54 drugs tested by GVK in accordance with the EMA's recommendations.
Lundbeck has initiated a rejig of its pipeline, taking an ax to undisclosed early-stage assets in order to funnel cash into what it sees as its most promising candidates. The schizophrenia drug Lu AF35700 is among the beneficiaries of the reshuffle, with Lundbeck using its reorganized balance sheet to advance the therapy through development unpartnered.
Digital health startups attracted $4 billion in venture capital in the U.S. last year, compared with about $110 million in Europe.
As med tech companies target innovative devices that can rapidly diagnose conditions such as sepsis, a team of researchers in Germany and Ireland are developing a device that could slash testing times for urinary tract infections.
U.S. CRO Accelovance is blueprinting a new site in Wales, planning to add 70 positions as it builds out its European ranks.
In this week's EuroBiotech Report, Bristol-Myers Squibb handed over $15 million (€13.5 million) to add three targets to its collaboration with uniQure and a further $38 million to up its stake in its partner to just shy of 10%. UniQure is in line to pocket more money as the number of targets put forward by Bristol-Myers increases beyond the four selected to date. And more.
Wilex has become one of the early losers of the immuno-oncology gold rush. The blow was dealt by Roche, which has axed its alliance with Wilex subsidiary Heidelberg Pharma as part of its retreat from areas of cancer R&D beyond immuno-oncology.
Galapagos has started the countdown to the day on which AbbVie must decide whether to hand over $200 million (€181 million) in exchange for its Phase III-ready rheumatoid arthritis drug. The timer started ticking down this week when Galapagos handed over the final Phase II data set.
Kerrisdale Capital is maintaining the pressure on Bavarian Nordic. Having precipitated a 13% drop in the stock of Bavarian Nordic in the 10 days since it unveiled its short thesis, the hedge fund is now holding a follow-up call to expand on its theory that the Danish drugmaker is a busted flush.
Neil Woodford has given himself the option to issue up to £80 million ($125 million) in new shares of Patient Capital Trust. The fund, which has £958 million after completing a monster listing earlier this year, is considering issuing up to 10% of its current share capital to meet investor demand.