Wednesday, June 15, 2016
Merck, based in Darmstadt, Germany, has announced an increased commitment to its Corporate Ventures fund under the new Corporate Ventures fund roof (official name: Merck Ventures BV, Amsterdam, The Netherlands, a subsidiary of Merck KGaA, Darmstadt, Germany).
Oncternal Therapeutics and Tokalas have completed a merger to create a new world-class clinical-stage oncology company with two promising, first-in-class pipeline products. The transaction was approved by both companies’ shareholders, and results in the combination of all assets, R&D programs and operations under the name Oncternal Therapeutics.
Baxalta has announced the results of a vote on the proposals identified in the definitive proxy statement/prospectus, dated April 18, 2016, at a special meeting of shareholders relating to the proposed combination with Shire. Baxalta shareholders approved the definitive merger agreement with Shire, dated as of January 11, 2016, and the merger transaction, with approximately 76.9% of shares outstanding cast in favor of the proposal, which represents approximately 98.9% of the votes cast at the meeting.
Arbor Pharmaceuticals, a specialty pharmaceutical company headquartered in Atlanta, Georgia, and XenoPort, a biopharmaceutical company focused on commercializing HORIZANT, have signed a definitive agreement under which Arbor will acquire XenoPort for $7.03 per share in cash, or a total equity value of approximately $467 million. The purchase price per share represents a 60% premium to the closing price of XenoPort shares on May 20, 2016.
Bioclinica, a specialty clinical trials technology and services provider, has introduced OnPoint Direct, a Clinical Trial Management System (CTMS) geared toward mid-market biopharma and CROs. OnPoint Direct offers a cost-friendly pricing structure that empowers organizations to adopt a full-featured clinical trial management solution without the complex configuration, capital investment or perpetual licensing models customary of other systems.
Bicycle Therapeutics, a biotechnology company pioneering a new class of therapeutics based on its proprietary bicyclic peptides (Bicycles) platform, has established U.S. operations with headquarters in Cambridge, Massachusetts and named Rosamond Deegan, MBA, as president and chief business officer. In this newly created role, Deegan will be responsible for leading Bicycle Therapeutics’ business development activities and establishing a U.S. team aligned with the Company’s focus on oncology clinical development.
In a presentation to the investment community, Eli Lilly stated it has the potential to launch 20 new products in the 10 years beginning in 2014 and extending through 2023. In addition, Lilly could launch an average of two new indications or line extensions for already-approved products per year during that same time period.
The Biotechnology Innovation Organization (BIO) has released a new report, “Emerging Therapeutic Company Investment and Deal Trends,” highlighting 10 years (2006-2015) of biotechnology funding and deal making across five areas: venture capital, IPOs, follow-on public offerings, licensing, and acquisitions. The report also offers clinical pipeline snapshots to provide context on the degree of industry partnering and the contribution of emerging companies.
A new early-phase research center opened this month in Kansas by Vince & Associates Clinical Research includes a specialized QT safety assessment unit, which reflects recent regulatory changes to cardiac safety assessments that could bring more drugs to the pipeline and cost savings to sponsors.