Wednesday, July 22, 2015
Public Health England will transfer its drug development and production to a new company, Porton Biopharma. The transfer of Public Health England’s (PHE’s) clinical drug development and production capability into a stand-alone, state-owned biopharmaceutical limited company has been approved by the Secretary of State for Health.
Sorrento Therapeutics, a clinical stage oncology company, and NantBioScience, a majority owned subsidiary of NantWorks, have established a joint venture to focus on the development of first-in-class small molecules addressing drivers of cancer growth, including cancer stem cells. Sorrento will contribute key small molecule programs (lead inhibitors of the proto-oncogenes c-Myc, and the master metabolism regulator HIF-1 alpha, and an inducer of the tumor suppressor cytokine TRAIL) to the joint venture, which will be 60% owned by NantBioScience and 40% owned by Sorrento, and funded accordingly.
Horizon Pharma, a Dublin, Ireland-based biopharmaceutical company, has proposed to acquire all outstanding shares of Depomed, a U.S. specialty pharmaceutical company, for a per share consideration of $29.25 in an all-stock, tax-free exchange valued at approximately $3 billion. Horizon’s proposal represents a premium of 42% to the closing price of Depomed on July 6. The transaction, if consummated, would be immediately and substantially accretive to Horizon’s adjusted diluted earnings per share.
Baxalta has launched as a global biopharmaceutical company dedicated to delivering transformative therapies to patients with orphan diseases and underserved conditions. The company continues to advance in hematology and immunology and seeks to expand its oncology portfolio for patients with limited treatment options. Baxalta plans to launch 20 new products by 2020, leveraging the company’s existing global capabilities and footprint in more than 100 countries.