Swiss Vifor Pharma has agreed to acquire shares of Cambridge-based distributor Adebia worth US$50m in order exclusivly distribute its hypoxia-inducible factor (HIF) stabiliser vadadustat to 40% of US dialysis clinics.
AstraZeneca’s anti PD-L1 antibody durvalumab has met the co-primary endpoint in non-small cell lung cancer (NSCLC) in a Phase III trial vs placebo. OS data were not yet available.
Dutch Norgine BV will take-over Merus Labs International Inc. Under the agreement, Norgine will acquire all outstanding shares for US$1.65 per share in cash.
A study conducted by an NIH institute proves Roche’s Avastin is as effective as Regeneron’s Eylea, a drug that costs 30 times more than Roche’s antibody. The rub: Avastin is not approved for use in central retinal vein occlusion (CRVO).
Fiasco in Phase III: Roche’s conditionally approved PD-L1 checkpoint inhibitor did not meet the endpoint of overall survival vs chemotherapy in a confirmatory study with pre-treated patients with metastatic urothelial cancer.
Mucosal inflammation specialist Dermtreat ApS (Copenhagen) has secured a Series A financing worth €16.2m (US$17.7m).
GMO world market adoption is further growing. GMO cultivation area in 2016 increased to 185.1 million hectares versus 2015 (179.7m hectares), 3% up globally, and from 116,870 in 2015 to 136,363 hectares, 17% up, in the EU.
With an impressive 11.7% growth in sales compared with 2015, the Swiss biotech sector has grown more strongly in 2016 than the years before. However, after three years of growth, Swiss biotech companies collected almost CHF100m less than in the previous year, according to the most recent Swiss Biotech Report.
The Biotechnology in Germany is a growth engine. According to a new report, all key figures such as employees, turnover and R&D expenditure were at an all-time high in 2016.
The french biotechnology company Vivet Therapeutics has raised €37.5 million in a Series A financing round. Amongst others, Novartis Venture Fund and Roche Venture Fund were involved.