In this week's EuroBiotech Report, Johnson & Johnson added another outpost to its burgeoning network of startup-scouting units. The J&J-Karolinska Institutet alliance kicked off a busy week for the Nordic region. And more.
Wall Street's recent fervor over biotech companies has hardly been limited to local players, and the allure of handsome valuations and easy access to capital has brought more and more European drug developers across the Atlantic with hopes becoming the next big thing in a boom market.
German institutions have claimed four of the top 5 spots on Thomson Reuters ' list of the most influential pharma research centers. A clean sweep of the top four positions was only prevented by Gilead Sciences, which the report ranked second behind Goethe University Frankfurt Hospital.
Mapi Pharma has closed a $10 million (€9 million) Series A round to finance mid-phase trials of its once-a-month version of Teva's blockbuster multiple sclerosis drug, Copaxone. The round follows two aborted attempts to raise cash in a Nasdaq IPO.
Johnson & Johnson has established an outpost within Karolinska Institutet. The arrangement sees J&J set an innovation hub at the Swedish medical university, from which it will keep tabs on academic research breakthroughs and support the advance of such ideas into life science startups.
Eli Lilly and Zealand Pharma have scrapped their diabetes and obesity-focused R&D collaboration. The companies teamed up in 2013 to explore using novel peptides to treat Type 2 diabetes and obesity, but 21 months later have decided there is no point pursuing the program.
Bavarian Nordic has downplayed its interest in becoming the latest European biotech to be scooped up by a deep-pocketed suitor. The vaccine player has regained some of its luster over the past year through deals with Bristol-Myers Squibb and Johnson & Johnson, but has no desire to cash in on its moment in the limelight.
Amicus Therapeutics has landed on the European regulatory fast track, potentially shortening the review time for its orphan drug as it prepares filings at home and abroad.
Boston-based PureTech, an investment group which is better known for its high-profile board than its portfolio of upstart life sciences companies, has landed in the U.K. with a plan to raise $160 million on the London stock market.
In this week's EuroBiotech Report, Abivax became the latest French biotech to file for an IPO in its home country, seeking cash ahead of moving an HIV drug into two Phase IIb trials, as well as to support the clinical development of its lead candidate, a therapeutic vaccine against hepatitis B. And more.