Thursday, May 5, 2016
EMD Serono, the biopharmaceutical business of Merck, Darmstadt, Germany, in North America, has announced a $12 million investment for the expansion of its R&D facility in Billerica, Massachusetts. The new building will span more than 30,000 square feet and accommodate approximately 120 new and current employees whose focus will be on accelerating innovation in R&D, with a focus on oncology, immuno-oncology and immunology.
Abbott has signed a definitive agreement to acquire St. Jude Medical, creating a medical device provider with a higher position in high-growth cardiovascular markets, including atrial fibrillation, structural heart and heart failure, as well as a position in the high-growth neuromodulation market.
AbbVie has announced it will acquire Stemcentrx and its lead late-stage asset rovalpituzumab tesirine (Rova-T), currently in registrational trials for small cell lung cancer (SCLC). Rova-T is a novel biomarker-specific therapy that is derived from cancer stem cells and targets delta-like protein 3 (DLL3) that is expressed in more than 80% of SCLC patient tumors and is not present in healthy tissue. Registrational trials for third-line small cell lung cancer are expected to complete enrollment by the end of 2016.
Daiichi Sankyo, Inc., the U.S. subsidiary of Daiichi Sankyo Company, Ltd., will establish a new U.S. headquarters, co-locating its commercial and development divisions in Basking Ridge, New Jersey. The move is part of an ongoing effort to realize efficiencies and continue collaboration between the business segments, enabling innovation in its existing and emerging therapeutic areas such as cardiology, oncology, pain and other areas where there are unmet medical needs.
Sanford Burnham Prebys Medical Discovery Institute (SBP), a fundamental and translational research institute, and GlaxoSmithKline (GSK), a global pharmaceutical company, have announced the creation of the SBP-GSK Center for Translational Neuroscience.
Allergan, a global pharmaceutical company, has acquired Topokine Therapeutics, a privately held, clinical-stage biotechnology company focused on developing topical medicines for fat reduction. Allergan acquired Topokine Therapeutics for an upfront payment of $85 million and success-based development and sales milestones for XAF5, a first-in-class topical agent in late-stage development for the treatment of steatoblepharon, also known as undereye bags.