LONDON, UK: Poolbeg Pharma (AIM: POLB) has entered into an exclusive 12-month option agreement with Silk Road Therapeutics Inc, for a nominal fee, to acquire a novel topical muco-adherent formulation of Pentoxifylline (tPTX) for the treatment of oral ulcers in patient’s suffering from Behçet’s Disease. There is a clear unmet medical need for an effective…
Search Results for: FDA Approval
Agronomics’ Onego Bio raises €27 million in Series A financing led by NordicNinja VC
LONDON: Agronomics (LSE: ANIC) portfolio company Onego Bio Ltd has successfully raised €27 million in its Series A financing, led by NordicNinja VC, a Japanese-Nordic VC backing companies in climate and deep tech. In addition, Onego Bio secured a further €9.5 million in non-dilutive funding from Business Finland, a government organisation offering grant funding for…
Autolus Therapeutics reports financial growth amidst rising R&D costs
LONDON: In a company announcement, Autolus Therapeutics plc (Nasdaq: AUTL), a trailblazer in programmed T cell therapies, has released its operational and financial results for the year ending December 31, 2023. The company, which is in the clinical stage, revealed a cash reserve of $239.6 million, a notable decrease from the previous year’s $382.4 million….
Philips reports strong sales and profit growth in 2023
AMSTERDAM: Philips, a global leader in health technology, announced its 2023 financial results, showing a 7% increase in comparable sales and a 10.5% increase in adjusted EBITA margin. The company also generated a free cash flow of EUR 1,582 million, up from EUR 1,018 million in 2022. The company attributed its strong performance to the…
Abivax outlines 2024 goals for obefazimod, a novel oral drug for inflammatory diseases
Abivax SA, a French biotech company listed on Euronext Paris and Nasdaq, is developing a new class of drugs that target the body’s own immune regulators to treat chronic inflammatory diseases. The company’s lead candidate, obefazimod, is in late-stage clinical trials for ulcerative colitis (UC), a type of inflammatory bowel disease (IBD) that affects the…
Inspiration Healthcare acquires Airon Corporation for $2.5 million
LONDON, UK: Inspiration Healthcare (AIM: IHC) announced the acquisition of Airon Corporation, a specialist respiratory device company based in Florida, USA for a maximum consideration of $2.5m.The consideration includes an initial upfront cash payment of $1.5m plus an earn out of up to $1.0m dependent on the delivery of future revenues.Airon Corporation is a leading…
Bristol Myers Squibb to buy Karuna Therapeutics for $14 billion
Bristol Myers Squibb (BMY) announced today that it has agreed to acquire Karuna Therapeutics (KRTX), a biopharmaceutical company focused on psychiatric and neurological disorders, for $330 per share in cash, or $14 billion in total. “There are tremendous opportunities in neuroscience, and Karuna strengthens our position and accelerates the expansion and diversification of our portfolio…
MaxCyte names Maher Masoud new CEO as Doug Doerfler retires after 24 years
LONDON, UK: MaxCyte, Inc., a leading cell-engineering company, announced today that Maher Masoud will take over as President and CEO from Doug Doerfler, who will retire on January 1, 2024. Masoud, who currently serves as EVP, Head of Global Business Development and Chief Counsel, will also join the Board of Directors. Doerfler founded MaxCyte in…
Smith+Nephew to acquire CartiHeal, developer of Agili-C, for upto $330 million
LONDON, UK: Smith+Nephew, the global medical technology company, has entered into a definitive agreement to acquire CartiHeal, developer of Agili-C, a novel sports medicine technology for cartilage regeneration in the knee, a statement said. Under the terms of the agreement, Smith+Nephew will pay an initial cash consideration of $180 million at closing, and up to…
AstraZeneca’s Truqap approved in US for advanced breast cancer
LONDON: AstraZeneca announced that its drug Truqap (capivasertib) has received approval from the US Food and Drug Administration (FDA) for the treatment of a specific type of advanced breast cancer. Truqap is a first-in-class medicine that targets the PI3K/AKT pathway, which is involved in cancer growth and resistance to therapy. Truqap is approved for use…
Telix Pharmaceuticals to acquire QSAM Biosciences and its bone cancer therapy
MELBOURNE, AUSTRALIA: Telix Pharmaceuticals Limited, an Australian company that develops radiopharmaceuticals for cancer diagnosis and treatment, has announced its intention to acquire QSAM Biosciences, Inc., a U.S. based clinical stage company that is developing a novel therapy for bone cancer. QSAM’s lead asset, CycloSam®, is a radioactive compound that selectively targets and kills cancer cells…
Avingtrans reports strong results and order book, proposes acquisition of Adaptix
LONDON, UK: Avingtrans plc (AIM: AVG), the engineering technology group, has announced a trading update for the financial year ended 31 May 2023, showing results in line with market expectations and a record order book. The group has also secured several contract wins in the nuclear sector, worth over £8 million in total. The group…