Biotechnology industries
The European Commission issued a statement on March 26, saying that if France intervenes to block a takeover by Swiss drug company Novartis of French pharmaceutical rival Aventis, regulators would investigate on competition and internal market grounds. Aventis executive chairman Igor Landau attempted to allay French government fears about a
Biotechnology industries
Seattle Genetics, Inc. announced that it will present data from several of its preclinical programs, including its novel ADC technology, in five poster sessions during the 2004 Annual Meeting of the American Association for Cancer Research (AACR) in Orlando, Florida. The company's ADC technology is comprised of highly
Biotechnology industries
Seattle Genetics, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to its product candidate SGN-30 for T cell lymphomas, a category of non-Hodgkin lymphoma. SGN-30 is a monoclonal antibody currently in phase II clinical trials for the treatment of anaplastic large cell
Biotechnology industries
A potential tie-up between Novartis AG and Aventis SA could create a pharmaceutical giant, rivaling Pfizer and GlaxoSmithKline in global sales. Novartis, Switzerland's largest pharmaceutical company, has expressed interest in Aventis, citing complementarity in cancer, diabetes, and cardiovascular treatments. This move comes as Aventis faces a hostile bid
Biotechnology industries
Momenta Pharmaceuticals, a Cambridge, Massachusetts-based biotechnology company, plans to raise $86.15 million in an initial public offering (IPO), while CoTherix, a Belmont, California-based biopharmaceutical company, seeks to raise an estimated $70 million. However, the biotech IPO market is facing skepticism due to concerns over the strength of recent IPOs,
Biotechnology industries
CombinatoRx, a biopharmaceutical company, has announced that it has raised $30 million in its third venture capital round. The funding includes investments from several prominent investors, including Boston Millennia Partners, who led the round and added a representative to the company's board. This significant investment will be used
Biotechnology industries
Phylogix, a privately held biotechnology company, has secured $12 million in Series B financing to accelerate the development of its innovative class of lectin-based therapeutic drugs focused on tissue protection and oncology. This significant investment was led by top-tier venture capital firms, including Radius Ventures, Atlas Venture, Prospect Venture Partners,
Biotechnology industries
Inovise Medical, a privately held cardiac diagnostic company, has released AUDICOR 2.0, an advanced clinical tool that integrates automated heart sound detection and analysis with electrocardiography (ECG) for earlier cardiac diagnosis. The product will be showcased at the American College of Cardiology Scientific Session in New Orleans, where clinicians
Biotechnology industries
Millar Instruments, a leading developer and manufacturer of advanced medical research equipment, has unveiled two new models of its Pressure-Volume System (MPVS) at the American College of Cardiology (ACC) conference. The MPVS is a cutting-edge system capable of simultaneously measuring left ventricular pressure and volume in small animal models, such
Biotechnology industries
French pharmaceutical giant Aventis SA is waiting anxiously for a judge's ruling on March 1, which will determine how much time it has to find a white knight to help fend off a €48.5 billion hostile bid from Paris-based rival Sanofi-Synthelabo SA. The company's executive
Biotechnology industries
NeurogesX Inc., a developer of pain relief products based on capsaicin, the chemical found in chili peppers, has attracted venture investors with its innovative approach to treating neuropathic pain. The California-based company has secured $35 million in its third round of funding, bringing its total raised to $65 million. The
Biotechnology industries
Merck KgaA, a leading German pharmaceuticals group, has made significant strides in reducing its debt by agreeing to sell its VWR International laboratory equipment unit to private equity house Clayton, Dubilier & Rice Inc. for $1.68 billion. The sale, which is expected to result in $240 million in profit
