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
Biotechnology industries
Peninsula Pharmaceuticals Inc. and Placer Sierra Bancshares have both set the stage for their initial public offerings (IPOs) with filings to the U.S. Securities and Exchange Commission. Meanwhile, Liberman Broadcasting has revealed plans to raise a substantial sum in its IPO. Peninsula Pharmaceuticals Inc., a biopharmaceutical company, plans to
Biotechnology industries
This week's Initial Public Offering (IPO) lineup has drawn attention, with nearly a dozen companies set to make their trading debuts. Amidst the flurry of activity, Assurant Inc., a unit of Netherlands-based Fortis Insurance NV, is poised to make a significant splash. The company's $2 billion
Biotechnology industries
Analysts have expressed skepticism over the likelihood of Novartis AG attempting to rescue Aventis SA from the hostile bid made by Sanofi-Synthelabo SA. Sanofi's €48.5 billion offer has sparked rumors of potential white-knight bids, but Novartis appears to be focused on a merger with Roche Holding AG.
Biotechnology industries
The pace of consolidation in Germany's biotechnology sector continued Tuesday as two Munich-based biotech startups, Nadag AG and Sireen AG, agreed to merge and form Sirenade Pharmaceuticals AG. The move comes on the heels of other high-profile mergers in the sector, including the linking of DeveloGen AG and
Biotechnology industries
As the year begins, 34 startups announced fund raising worth $445.3 million, marking a continuation of the surge in funding that began late last year. Venture capitalists are optimistic about deploying the capital they held aside for the last few years, with January already showing a strong start, with
Biotechnology industries
Novacea Inc., a developer of cancer drugs, has secured a significant $35 million investment from Apax Partners, a leading private equity firm, to continue the development of its cancer treatment products. This latest funding round brings the company's total equity investment to $83 million, allowing Novacea to advance
Biotechnology industries
Masthead Venture Partners, a Cambridge, Mass.-based venture capital firm, has successfully closed its first fund with $160 million, setting the stage for a final closing target of up to $200 million. The fund will focus on investing in software and security firms developing products for corporations, as well as
Drugs
Cell Therapeutics, Inc.'s novel cancer drug treatment, Trisenox, has been granted orphan drug designation by the U.S. Food and Drug Administration (FDA) for the treatment of both chronic myeloid (CML) and acute myelocytic (AML) leukemias. This designation, combined with other recent recognitions, brings the total number of
Drugs
A warning letter was sent to JOAMCA Chemical Products on November 13, 2001, citing various violations related to quality control and manufacturing practices. The letter highlighted the firm's failure to validate cleaning procedures for drug-making equipment and maintain records of equipment cleaning. Additionally, JOAMCA was cited for lack
