Akebia Therapeutics, a pharmaceutical discovery and development company focused on anemia and vascular disorders, has announced that it has closed a Series B Preferred stock financing totaling $22 million. The round was led by Akebia’s existing investors, Novartis Venture Fund and Venture Investors, LLC. Triathlon Medical Ventures, Kearny Venture Partners, Athenian Venture Partners and Sigvion Capital and new investors, including AgeChem Venture Fund, participated in the round. The $22 million Series B round includes a $14 million first closing. In addition, the Company has the right to access another $8 million through the end of 2011. Akebia’s lead compound, AKB-6548, is in phase 2 for the treatment of anemia.
Monthly Archives: April 2011
iCeutica, an Australian biotechnology company, has announced that it has finalised the sale of all of its shares to Iroko Pharmaceuticals for an undisclosed sum. The existing management team, including CEO Mr Matt Callahan and CSO Dr Bill Bosch, will continue to lead the company after the acquisition. Iroko is committed to the development and commercialization of a range of products in the pain and inflammation therapeutic space. iCeutica licensed three products reformulated utilising its SoluMatrix platform to Iroko in 2007. Each of these products have completed Phase 2 clinical trials and two of these products are scheduled to enter Phase 3 clinical trials later in 2011.
Dainippon Sumitomo Pharma and Maruho Co have announced that they have entered into a worldwide exclusive license agreement under which Maruho will develop, manufacture and commercialize a topical product based on the TRPV1 (transient receptor potential vanilloid subtype 1) agonist that DSP has invented as a candidate compound for the novel analgesic drug. DSP retains the right of co-promotion in the U.S. and Europe. Under the terms of the agreement, Maruho will make an upfront payment and milestone payments in accordance with the progress of the development. After commercialization, Maruho will pay royalty to DSP based on the net sales of the product.
ARCA Biopharma has announced that it has entered into a license agreement with the University of Cincinnati for exclusive worldwide rights to a portfolio of US and international patents, which includes certain patents covering genetic markers for the Company’s lead drug candidate, Gencaro (bucindolol hydrochloride), which is being developed for the treatment of chronic heart failure. The licensed patents relate to genetic polymorphisms of adrenergic cardiac receptors which the ARCA believes provide the basis for exclusive worldwide development, use and commercialization of the genetic test which may indicate a patient’s likely response to Gencaro as a treatment for multiple cardiovascular disorders. The licensed patents had previously been the subject of an agreement between ACRA and the University of Cincinnati executed in December 2009.
Myriad Genetics has announced that it has entered into a definitive merger agreement to acquire privately-held Rules-Based Medicine for $80 million in cash. The deal expands Myriad’s research portfolio into new disease states, including psychiatric disorders, infectious diseases and inflammatory diseases, and adds eight new molecular diagnostic product candidates to Myriad’s pipeline. RBM’s 2010 revenues were approximately $25 million, with operations approaching breakeven, after adjustment for non-recurring activities.
Sequella has signed a licensing agreement covering Russia and surrounding states for its mid-stage tuberculosis treatment with Maxwell Biotech Venture Fund. According to Sequella the deal is worth up to $50 million. The deal covers SQ109, a TB treatment now in Phase II in Africa. A successful mid-stage study might make it possible for the company to file the drug in the U.S. and Europe, with Maxwell in charge of registering the candidate in Russia.
Pharmacyclics has announced that it has received a $7 million milestone payment for its histone deacetylase (HDAC) inhibitor, PCI-24781 / S 78454 from Les Laboratoires Servier based on an ex-US collaboration agreement signed in April 2009. Over the past two years Servier has engaged in several exploratory Phase I/II trials in solid tumors and hematologic malignancies. Servier is now focused on its Phase II programs to enable the registration pathway for PCI-24781 / S 78454.
Biovista has announced that it has entered into a research collaboration agreement with Novartis. The collaboration is focused on identifying new indications for a number of undisclosed Novartis compounds using Biovista’s Clinical Outcome Search Space technology. The terms of the agreement include an upfront payment and success-based milestones.
Vivalis and Japanese group SC World have announced that Vivalis will acquire the high-throughput screening single-cell antibody discovery technology of SC World. The assets transferred by SC World include intellectual property, know-how and physical assets. Vivalis has obtained an exclusive licensing agreement with Toyama Prefecture, which owns some single cell technology patents.
BioInvent International and co-development partner ThromboGenics have announced that the first patient has been dosed in a Phase IIb trial with their novel long-acting anticoagulant TB-402 (Anti-Factor VIII) for the prophylaxis of venous thromboembolism after total hip surgery. The Phase IIb study is a multicenter, double blind, randomised controlled trial. It is comparing the safety and efficacy of two dose levels of TB-402, given as a single intravenous infusion after hip surgery, with the recently approved Factor Xa inhibitor rivaroxaban. The trial will enrol 600 patients across 41 centers in Europe. Results are expected in the second half of 2012.