Nycomed and Almirall announce licensing agreement for ebastine in Asia

Nycomed and Almirall have announced that they have signed a licensing and supply agreement for Almirall’s antihistamine ebastina, under the trademark Kestine, indicated for allergic rhinitis and chronic idiopathic urticaria, in China and other key emerging markets. Under the terms of the agreement, Nycomed will have exclusive commercialisation rights for the existing Kestine product in China. Additionally, Kestine will be launched in Malaysia, Philippines, Singapore, Thailand and Indonesia, with Nycomed becoming marketing authorisation holder in these territories. Financial details of the agreement were not disclosed.

Graceway Pharmaceuticals files for bankruptcy protection

Graceway Pharmaceuticals, a maker of skin treatments and asthma medication, has sought bankruptcy protection with a plan to sell its assets to Galderma for $275 million. Graceway cited the loss of patent protection on Aldara, a cream used to treat precancerous skin growths and genital warts as the primary reason for the filing. Net revenue from Aldara fell to $52 million in 2010 from $321 million a year earlier after generic-drug makers gained the right to produce cheaper copies, according to court documents.

Santen Pharmaceutical acquires Novagali Pharma

Santen Pharmaceutical, a Japanese pharmaceutical company, and Novagali Pharma, a French biopharmaceutical company specializing in ophthalmology and ocular therapeutics, have announced that Santen will acquire a controlling interest in Novagali. Santen develops ophthalmic products. Among prescription ophthalmic pharmaceuticals, Santen has the largest market share in the Japanese market. The deal valued Novagali at €100 million.

Neurosearch to cut workforce by 82.5% over the next two years in effort to conserve cash

Neurosearch has announced a restructuring and discontinuation of its other activities designed to conserve financial and management resources to complete the development of Huntexil its treatment for motor symptoms in Huntington’s disease. The company has adjusted its financial guidance from an operating loss of DKK 300 million to an operating loss on continuing operations of DKK 370 million in 2011, of which DKK 130 million primarily are costs related to Huntexil, and the remaining DKK 240 million are one-off restructuring costs. The headcount at NeuroSearch is expected to be reduced from the current number of just under 200 to about 100 employees during the second quarter of 2012, to about 50 employees at the end of the third quarter of 2012 and to about 35 employees when the restructuring is fully and finally implemented in mid-2013. NeuroSearch is seeking buyers for all drug candidates with the exception of Huntexil, ordopidine and seridopidine. The value of cash and cash equivalents including securities is expected to be approximately DKK 230 million at the end of 2011.

H. Lundbeck and Proximagen sign CNS collaboration

H. Lundbeck and Proximagen have announced that they have entered into a partnershipagreement designed to formalise a CNS-focused partnership between the two companies. As part of the Agreement, a steering committee involving representatives from both companies will focus on developing three of Proximagen’s programmes, with the aim of identifying therapies for serious diseases such as epilepsy, pain and inflammatory disorders. Lundbeck will also receive certain negotiation rights in relation to these programmes.
Under the terms of the agreement, Lundbeck will invest £10.30 million in new stock in Proximagen.

Merck ends Johnson & Johnson joint venture

Merck has announced that it is selling its 50% interest in a joint venture with Johnson & Johnson over a collection of over-the-counter products, including the heartburn remedies Mylanta and Pepcid. Under the agreement, Merck will receive a one-time payment of $175 million. The Johnson & Johnson Merck Consumer Pharmaceuticals Co. will be renamed McNeil Consumer Pharmaceuticals. The ownership of a manufacturing plant in Lancaster will also be transferred to McNeil Consumer Pharmaceuticals as part of the deal. The joint venture between Merck and Johnson & Johnson dates back to 1989 when the two drug makers partnered up to develop, manufacture and distribute over-the-counter remedies in the US and Canada.

Biotie Therapies merges with Newron in $63 million deal

Biotie Therapies has signed a deal to acquire Newron Pharmaceuticals for up to $63 million worth of shares. Newron has reported losses totaling about $60 million over the past two years. Newron ran into trouble in the spring of 2010 when its late-stage pain drug, ralfinamide, failed a Phase IIb/III study for neuropathic pain. The company ordered a restructuring in mid-2010 to conserve cash. Those investors now stand to get up to $52 million worth of Biotie shares on the transaction. Newron’s lead drug, safinamide, is an oral, once daily add-on treatment for Parkinson’s disease. Data on two late-stage studies are due to be released in the first half of 2012. The treatment is partnered with Merck Serono.

Mesoblast and Lonza sign stem cell alliance

Mesoblast and Lonza have announced that they have entered into
a strategic alliance for clinical and long-term commercial production of Mesoblast’s off-the-shelf adult stem cell products. Under the agreement
Lonza will supply Mesoblast’s clinical and long-term commercial Mesenchymal Precursor Cell product needs globally. Mesoblast can trigger a process requiring Lonza to construct a purpose-built manufacturing facility exclusively for Mesoblast’s marketed products. In return,
Mesoblast will purchase agreed quantities of marketed products from the facility. Mesoblast can exercise its right to buy out this manufacturing facility at a pre-agreed purchase price two years after the facility receives regulatory approval. Mesoblast will also have exclusive access to Lonza’s Cell Therapy facilities in Singapore for the manufacture of allogeneic cell therapy products.

Vectura earns $5 million milestone payment from Novartis

Vectura has announced that NVA237 (glycopyrronium bromide), a long-acting muscarinic antagonist (LAMA) being investigated as a once-daily treatment for chronic obstructive pulmonary disease, has been filed by Novartis for marketing authorisation with the European Medicines Agency under the brand-name Seebri Breezhaler, triggering a $5 million milestone payment to Vectura.

Si-Bone closes $16 million Series C funding round

Si-Bone a medical device company focused on minimally-invasive approaches to sacroiliac joint disruptions and degenerative sacroiliitis, has announced that it has closed a $16 million Series C funding round. Participants include Montreux Equity Partners and Skyline Ventures.