Theorem Clinical Research

Drug Sponsors

Treasury’s tax inversion changes scuttle some big biopharma mergers, modify others, prompting calls for Congressional corporate tax reform

Thursday, October 23, 2014 03:50 PM

By Ronald Rosenberg
CenterWatch Staff Writer

The widely-discussed $54.6 billion acquisition of Dublin-based Shire by AbbVie is officially canceled, having crumbled after a notice by the U.S. Treasury Department to tighten tax rules that deter U.S. companies from moving their legal headquarters to countries with lower business taxes.

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Roche invests in its Switzerland site

Thursday, October 23, 2014 01:23 PM

Roche has presented development plans for its Basel, Switzerland site. Over the next 10 years, Roche will invest $3.1 billion in the construction of a new R&D center for around 1,900 employees, a state-of-the-art office building for up to 1,700 employees.

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Actavis signs option to acquire Rhythm subsidiary

Thursday, October 23, 2014 01:08 PM

Actavis, a Dublin, Ireland-based global specialty pharmaceutical company, has been granted an exclusive option to acquire Rhythm subsidiary Rhythm Health, a Boston, Mass.-based biopharmaceutical company developing relamorelin (RM-131), a peptide ghrelin agonist, for the treatment of diabetic gastroparesis and other GI functional disorders.

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Fidelity Biosciences and Atlas Venture launch Unum Therapeutics

Wednesday, October 22, 2014 11:28 AM

Fidelity Biosciences and Atlas Venture, with participation from Sanofi-Genzyme BioVentures, have launched Unum Therapeutics, a company developing cellular immunotherapy to treat cancer. Fidelity Biosciences invests venture capital in biopharmaceutical, medical technology, healthcare information technology and healthcare service companies, while Atlas Venture is an early-stage investor. All three are based in Cambridge, Mass.

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Bone Biologics completes merger with AFH Acquisition X

Friday, October 17, 2014 12:34 PM

Bone Biologics, a California-based company developing a proprietary protein for use in bone regenerative medicine using the patented recombinant human protein known as UCB-1 (or Nell-1) for use with patients undergoing spinal fusion, has completed a reverse merger with AFH Acquisition X, a fully-reporting company with the Securities and Exchange Commission. The combined company changed its name to Bone Biologics.

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Servier Canada opens Clinical Development Center in Montreal

Thursday, October 16, 2014 02:34 PM

Servier Canada, the Canadian subsidiary of Servier, has opened its new Clinical Development Center in Montreal.

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Inversion rule change prompts AbbVie to halt Shire takeover

Thursday, October 16, 2014 02:21 PM

By Ronald Rosenberg
CenterWatch Staff Writer

In what could have been a major pharmaceutical acquisition and one of the biggest tax inversion deals, Chicago-based AbbVie has recommended its shareholders vote against its proposed $54 billion takeover of Shire, a Dublin-headquartered pharmaceutical company specializing in medications to treat attention deficit disorder and rare diseases

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CytRx launches discovery laboratory to develop anti-cancer drug platform

Thursday, October 16, 2014 08:31 AM

CytRx, a Los Angeles-Calif.-based biopharmaceutical R&D company specializing in oncology, has commenced operations at its new discovery laboratory in Freiburg, Germany. The new laboratory will conduct discovery and translational research to create drug candidates that utilize novel linker technologies that couple chemotherapeutic agents and proteins either inside the body or externally, and then concentrate drug in tumors.

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Impax to acquire Tower Holdings and Lineage Therapeutics

Wednesday, October 15, 2014 06:00 PM

Hayward, Calif.-based Impax Laboratories will acquire Tower Holdings, including operating subsidiaries CorePharma, based in Middlesex, N.J., Amedra Pharmaceuticals, based in Horsham, Penn., and Lineage Therapeutics, also based in Horsham, for $700 million in cash, subject to certain customary purchase price adjustments.

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Aastrom Biosciences to change name to Vericel, move headquarters to Massachusetts

Wednesday, October 15, 2014 05:30 PM

Aastrom Biosciences, a developer of patient-specific expanded cellular therapies for the treatment of severe diseases and conditions, plans to change its corporate name to Vericel and move its corporate headquarters from Ann Arbor, Mich., to Cambridge, Mass. The corporate name change is subject to the approval of Aastrom's shareholders. Aastrom will continue to maintain manufacturing facilities in Cambridge and Ann Arbor.

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Toronto Star, with FDA data, exposes weaknesses in Health Canada's clinical trial, inspection oversight

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