Global News

AbbVie outlines rationale for Shire offer

Wednesday, June 25, 2014 02:14 PM

Following Shire’s confirmed rejection of Abbvie’s offer on June 20, AbbVie has outlined its strategic rationale for, and background to, its proposal to the board of Shire of $34.74 in cash and 0.7988 ordinary shares of New AbbVie for each Shire share. The proposal represented an indicative value of $78.63 on May 29 (the latest practicable date before the proposal was made). While this cash and share mix is valued at $77.57 per share as of June 24, any firm offer made by AbbVie under Rule 2.7 of the Code will need to be equivalent to $78.63 per share.

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WIRB Copernicus Group

Report: Global biotechnology industry needs new paradigm for drug R&D

Wednesday, June 25, 2014 02:11 PM

The global biotechnology industry rebounded strongly in 2013, with public companies achieving double-digit revenue growth and a sharp increase in funds raised. However, much of the industry's growth was driven by a relatively small group of commercial stage companies, increasing the urgency for the rest of the industry to achieve greater efficiency in their drug development efforts. These are some of the key findings of Beyond borders: unlocking value, EY's 28th annual biotechnology industry report.

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CRF Health eCOA webinar series

ClinicalRM, Ohio Clinical Trials Collaborative partner

Wednesday, June 25, 2014 02:10 PM

CRO ClinicalRM and the Ohio Clinical Trials Collaborative (OCTC) have announced a co-marketing partnership offering joint services for clinical trials of new biologics, drugs and medical devices. The relationship will serve the organizations’ mutual customers with a full spectrum of development services including access to a network of veteran investigators, patient population identification, clinical operations and guidance on medical/regulatory affairs.

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Mersana Therapeutics, Merck ink $792 million agreement

Wednesday, June 25, 2014 02:08 PM

Mersana Therapeutics and the biopharmaceutical division of Merckhave agreed to collaboratively develop next-generation antibody-drug conjugates (ADCs). ADCs are composed of an antibody linked to cytotoxic drugs, whereby the antibody specifically targets and delivers the cytotoxic drug to cancer cells, which could lead to higher drug levels at the tumor site.

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Lundbeck completes acquisition of Chelsea Therapeutics

Wednesday, June 25, 2014 02:06 PM

Lundbeck has completed its acquisition of Chelsea Therapeutics International for $6.44 per share in cash and non-transferable contingent value rights that may pay up to an additional $1.50 per share upon achievement of certain sales milestones.

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UC San Diego initiates Cal-BRAIN program

Wednesday, June 25, 2014 01:55 PM

The California budget signed by Gov. Jerry Brown on June 20 created a statewide research grants program called Cal-BRAIN, an initiative led by UC San Diego. With an initial allocation of $2 million, Cal-BRAIN—short for California Blueprint for Research to Advance Innovations in Neuroscience—is a state complement to the federal BRAIN Initiative announced by President Barack Obama in April 2013. It aims to accelerate the development of brain mapping techniques, including the development of new technologies.

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InVivo Therapeutics realigns R&D strategy

Wednesday, June 25, 2014 01:54 PM

As a result of an in-depth review of the company's R&D portfolio, InVivo Therapeutics is realigning resources behind its novel Neuro-Spinal Scaffold and the Neuro-Spinal Scaffold Plus Stem Cells program for spinal cord injury (SCI).

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Endo to acquire Dava Pharmaceuticals

Wednesday, June 25, 2014 01:50 PM

Endo International has reached a definitive agreement to acquire Dava Pharmaceuticals, a privately held company specializing in marketed, pre-launch and pipeline generic pharmaceuticals, for $575 million in cash, with additional cash consideration of up to $25 million contingent on the achievement of certain sales milestones. The acquisition enhances Endo's commercialization and development platform and is expected to be immediately accretive to Endo's 2014 adjusted earnings per share (EPS).

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Bionomics, Merck enter research collaboration

Wednesday, June 25, 2014 01:47 PM

Bionomics has entered into an exclusive research collaboration and license agreement with Merck for its BNC375 research program targeting cognitive dysfunction associated with Alzheimer's disease and other central nervous system conditions.  

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Dart Therapeutics changes name to Akashi Therapeutics

Wednesday, June 25, 2014 01:46 PM

Dart Therapeutics has changed its name to Akashi Therapeutics to reflect its progress in developing a pipeline of product candidates to improve the lives of children with Duchenne muscular dystrophy (DMD).

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