Foundation Medicine has announced a collaboration with Johnson & Johnson. The collaboration is focused on using Foundation Medicine’s clinical cancer genomic test to identify potential biomarkers to support Jonhson’s oncology clinical development programs. Financial details of the agreement were not disclosed.
Monthly Archives: October 2011
Alios BioPharma and Versitech have announced an exclusive worldwide licensing agreement for technology targeting influenza viruses that will be used to advance the research, development, manufacture and commercialization of novel medicines to treat influenza infection. The companies have also signed two other influenza-related, non-exclusive license agreements and a sponsored research agreement. Versitech is the technology transfer company of the University of Hong Kong. Under the research agreement, Alios will sponsor collaborative research at the University of Hong Kong in the field of influenza virus chemical genetics.
Oxford BioMedica has announced that it has entered into a research and development collaboration with the Mayo Clinic to develop a novel gene therapy for the treatment of chronic glaucoma. Under the terms of the agreement, Mayo Clinic and Oxford BioMedica will undertake pre-clinical studies to establish the feasibility of treating glaucoma using Oxford BioMedica’s LentiVector gene delivery technology expressing a COX-2 gene and a PGF-2α receptor gene in order to reduce intraocular pressure. The collaboration includes an option for exclusive US rights to license Mayo Clinic’s glaucoma technology, which Oxford BioMedica can exercise upon completion of pre-clinical studies under confidential terms agreed by Mayo Clinic and Oxford BioMedica.
OnBioVC has revealed that Nevro, a clinical-stage medical device company focused on neuromodulation for the relief of chronic pain, has closed a $58 million Series B financing. Participants include Johnson & Johnson Development, Aberdare Ventures, Accuitive Medical Ventures, Bay City Capital, MPM Capital and Three Arch Partners.
ViroPharma has signed an agreement to buy Sweden’s DuoCort Pharma for $33.6 million in cash and a package of $131 million in milestones, provided it can win EC approval of Plenadren, a orphan treatment for adrenal insufficiency. The deal is designed to expand ViroPharma’s orphan drug portfolio without adding a lot of risk to the books. The drug is up for a formal EC decision by the end of this year.
Bavarian Nordic has announced that it has received a performance-based milestone payment of $25 million under the contract with the US government to deliver 20 million doses of its unlicensed smallpox vaccine, Imvamune to the US Strategic National Stockpile. This performance-based milestone payment has been issued in recognition of the company’s recent successful scale-up of production from three to four batches per week at its Kvistgaard facility. The payment forms part of the existing total contract value and will be recognized as revenue pro rata with the deliveries of the remaining doses. The payment is subject to repayment if Bavarian Nordic, contrary to expectations, fails to fulfil the contract.
Bristol-Myers Squibb and Gilead Sciences have announced a licensing agreement for Bristol-Myers Squibb to develop and commercialize a fixed-dose combination containing Bristol-Myers Squibb’s protease inhibitor Reyataz (atazanavir sulfate) and Gilead’s cobicistat, a pharmacoenhancing or “boosting” agent that increases blood levels of certain HIV medicines to potentially allow for one pill once daily dosing. Gilead is currently studying atazanavir and cobicistat in Phase 2 and 3 studies in HIV-1 treatment-naïve patients. Bristol-Myers Squibb will be responsible for the formulation, manufacturing, development, registration, distribution, and commercialization of the Reyataz and cobicistat fixed-dose combination worldwide. Under the terms of the agreement, Bristol-Myers Squibb will pay Gilead an undisclosed royalty based on annual net sales of the product. Gilead retains sole rights for the manufacture, development and commercialization of cobicistat as a stand-alone product and for use in combination with other agents.
Biotie Therapies and Newron Pharmaceuticals have terminated their merger agreement which was signed on 27 September 2011. On 21 October 2011, Biotie announced that Merck Serono will return to Newron the full global rights for safinamide, Newron’s lead asset, which is currently in Phase 3 development for Parkinson’s disease. Under the terms and conditions of the Merger Plan and the combination agreement, the return of rights from Merck Serono gives Biotie the right to terminate the agreement. Biotie have exercised this right. Biotie is entitled to a break-up fee of €1.50 million from Newron. The collaboration with Newron was expanded by Merck Serono in March 2011.
Biogen Idec and Portola Pharmaceuticals have announced that they have entered into an exclusive, worldwide collaboration and license agreement under which both companies will develop and commercialize highly selective, novel oral Syk inhibitors for the treatment of various autoimmune and inflammatory diseases, including rheumatoid arthritis and systemic lupus erythematosus. According to the companies the collaboration’s lead molecule, PRT062607, has been shown to be a highly potent and specific oral inhibitor of Syk in a broad panel of in vitro kinase and cellular assays and is currently in Phase 1 studies.
Under the terms of the agreement, Biogen Idec will provide Portola with an upfront payment of $36 million in cash and purchase $9 million in Portola equity, with additional payments of up to $508.5 million based on the achievement of development and regulatory milestones. Biogen Idec will lead the global development and commercialization efforts for the Syk inhibitor program in major indications such as rheumatoid arthritis and lupus, while Portola will lead US development and commercialization efforts for select smaller indications as well as discovery efforts for follow-on Syk inhibitors. Portola retains an option to co-promote alongside Biogen Idec in the United States in major indications. Worldwide costs and profits will be split by Biogen and Portola 75%/25%.
Repligen has announced the execution of a definitive agreement to acquire the business of Novozymes Biopharma Sweden AB in a cash transaction worth €17 million and future potential milestone payments of €4 million.