Wednesday, October 31, 2012
Connecticut Innovations (CI), the state’s quasi-public authority responsible for growing Connecticut businesses through innovative financing tools and assistance has made a $1.5 million investment in New Haven Pharmaceuticals (NHP), a specialty pharmaceuticals company of New Haven, Conn., through its Eli Whitney Fund.
Aveo Oncology, a cancer therapeutics company based in Cambridge, Mass., has announced a strategic restructuring designed to optimize resources and reduce expenses to ensure Aveo is well positioned for a successful launch of tivozanib in renal cell carcinoma (RCC) and continued development in other cancer types, while maintaining a focused research engine.
Synthetic Biologics, an Ann Arbor, Mich.-based biotech that develops of synthetic biologics and innovative medicines for serious diseases and unmet medical needs, has entered into definitive stock purchase agreements with accredited investors to raise approximately $10.8 million in a private placement financing.
CHDI Foundation, a privately-funded not-for-profit research organization dedicated to developing therapies for Huntington’s disease, has extended its collaboration with Evotec, a drug discovery alliance and development partnership company based in Germany, until the end of 2015. The contract extension could be worth up to $41 million in research payments for Evotec.
Menarini Group, an international pharmaceutical company based in Italy, and Oxford BioTherapeutics (OBT), an international biotechnology company based in the U.K., have formed a major innovative and strategic alliance to develop a portfolio of antibody-based drugs in the field of cancer.