European regulators are recommending approval for two rare disease treatments from Alexion, a victory for the biotech as it works to expand its stable of commercialized drugs.
In this week's EuroBiotech Report, two corners of Britain's great hope for competing with the likes of Boston and San Francisco, the area dubbed the "golden triangle," spent the week talking about the one area in which they indisputably fall short of their rivals: Cash. And more.
AbbVie has walked away from its claim to Biotest's anti-CD4 monoclonal antibody, tregalizumab. The decision comes two months after Biotest posted Phase IIb data showing tregalizumab failed to outperform the placebo in terms of improvements to ACR20 scores.
TxCell, a French biotech working on T-cell treatments for chronic inflammatory and autoimmune diseases, named Stéphane Boissel as its new CEO in April. And one of the first issues Boissel gets to confront is regulatory concerns over a pilot manufacturing facility.
DBV Technologies has exited its end-of-Phase II meeting with FDA with a plan for the next steps of development of its peanut allergy vaccine. And with Aimmune Therapeutics breathing down its neck, the French biotech is keen to get its pivotal trial up and running before the end of the year.
The mayor of London has come up with a scheme to bridge the financial chasm between the U.K. and U.S. biotech hubs. Officials have called Eli Lilly, Pfizer and JP Morgan to a meeting to discuss the plan, which entails creating a £10 billion ($15 billion) fund to invest in drugs across the development spectrum, The Financial Times reports.
Oxford Sciences Innovation (OSI) has eased past its £300 million ($475 million) fundraising target. The University of Oxford-focused investment vehicle pulled in a total of £320 million after Google's VC wing contributed to a fundraising drive that had already attracted Neil Woodford and other big names in British biotech.
Biophytis has added its name to the list of biotechs to head to the Parisian stock exchange in 2015. The age-related disease biotech has filed the paperwork for an IPO on its local exchange to finance the march of its two lead candidates into Phase IIb trials.
Startup Touch Bionics has launched its i-limb quantum, the first upper limb prosthesis that can change grips with a small gesture. The U.K.-based startup was the first spinoff from that country's National Health Service via Scottish Health Innovations in 2003. Founded by inventor David Gow, it is backed by Archangel Investors and Scottish Enterprise.
As CEO of Sanofi, Chris Viehbacher was always an outspoken champion of the innovation that could be found in biotech, even as it remained an elusive goal inside the Big Pharma. He backed up that belief with major partnerships with the likes of Regeneron and Alnylam. And now, 8 months after getting booted out of Sanofi by an angry board, he's getting back in the hunt for the best of biotech and the life sciences industry as the head of a $2 billion healthcare investment fund set up by Swiss billionaire Ernesto Bertarelli.