In this week's EuroBiotech Report, Johnson & Johnson added another outpost to the growing network of incubators to which it is affiliated. The latest site to receive the backing of J&J is run by BioCity, which is trying to turn a campus abandoned by Merck into a hotbed of Scottish life science startups. And more.
Biotie Therapies has become the latest European biotech to propose hitching its financial future to the whims of Wall Street. And the central nervous system specialist has picked up some big-name financial backers to tide it over until it is ready to list on Nasdaq.
Johnson & Johnson has extended its tendrils into another biotech incubator. Having played a role in the formation of incubators in the U.S., Canada and Israel in recent years, the Big Pharma has now lent its support to an initiative to foster the development of Scottish life science startups.
Nordic Nanovector has closed the book on its IPO at NOK 575 million ($73 million), around 40% more than it originally set out to raise. The upsized listing puts Nordic Nanovector among the early front-runners at the top of Europe's biotech IPO class of 2015.
NeuroVive Pharmaceutical is putting down roots in France. The mitochondrial-protection specialist has had a toehold in the country for years through its alliance with Hospices Civils de Lyon and has decided now is the time to formalize its presence.
Almirall has confirmed it is to cut back its Spanish R&D operation as part of a move toward becoming a specialty dermatology company. But the ax-wielding is less severe than first expected, with Almirall retaining 9 of the 68 positions that were originally on the block.
Sky-high prices for rare disease drugs have triggered pushback from European lawmakers, with countries such as Germany and France waging battles to bring down the cost of the meds. Now two countries are taking a different approach to price negotiations, using their collective clout to purchase the drugs.
The $335 million Merck & Co. biologics plant in Ireland that went online last year is already getting another investment. Merck said last week that it would invest €11.5 million ($12.4 million) in the Carlow facility.
In this week's EuroBiotech Report, OrbiMed Advisors is in the early stages of preparing a second Israel-focused fund that could transfer $250 million (€235 million) from the pockets of investors into the bank accounts of local life science players. And more.
MolMed has become the latest to buy its way into the CAR-T race. The deal sees it pick up assets from an immune-gene therapy CAR-CD44v6 project run by a group at San Raffaele Scientific Institute, the Milan-based research center that struck a deal with Biogen in January.