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Mar 20
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Versartis Announces Pricing of Its Initial Public Offering

By Press Release
Press Release.

 

REDWOOD CITY, Calif., March 20, 2014 (GLOBE NEWSWIRE) — Versartis, Inc., (Nasdaq:VSAR) an endocrine-focused biopharmaceutical company, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of $21 per share, before underwriting discounts and commissions. The shares are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol “VSAR” on March 21, 2014. In addition, Versartis has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock from Versartis at the initial public offering price.  The offering is expected to close on March 26, 2014 subject to customary closing conditions.

Morgan Stanley and Citigroup are acting as joint book-running managers for the proposed offering.  Cowen & Company is acting as lead manager and Canaccord Genuity is acting as co-manager.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on March 20, 2014.

The offering is being made only by means of a written prospectus forming part of the effective registration statement.  A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by email at batprospectusdept@citi.com or by phone at (800) 831-9146.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Versartis, Inc.

Versartis, Inc. is an endocrine-focused biopharmaceutical company initially developing VRS-317, a novel, long-acting form of recombinant human growth hormone, for the treatment of growth hormone deficiency (GHD).  VRS-317 is intended to reduce the burden of daily injection therapy by requiring significantly fewer injections, potentially improving compliance and therefore treatment outcomes. The company is currently completing a Phase 2a clinical trial of VRS-317 in children with GHD.  www.versartis.com

CONTACT: Corporate

Joshua Brumm

Chief Financial Officer

650 963-8582

jbrumm@versartis.com

Feb 26
Love0

Bayer’s voluntary cash offer to acquire the entire issued share capital of Algeta is successful

By Press Release
Press Release.

 

Oslo, Norway, 26 February, 2014 – Algeta ASA (“Algeta”; OSE: ALGETA) today reported that Bayer has announced that 97.28% of all Algeta shares have been tendered to Aviator Acquisition AS, a wholly-owned subsidiary of Bayer Nordic SE under the voluntary cash offer (the “Offer”) to acquire the entire issued share capital of Algeta for NOK 362 per share.

On expiration of the extended Offer period on 26 February, 2014 at 09:00 CET, Bayer announced that it had received acceptances for the Offer for a total of approximately 42,731,347 shares, representing approximately 97.28 of Algeta’s share capital. The acceptance level is based on preliminary numbers and may be subject to adjustments.

The Offer values the total share capital of Algeta at approximately NOK 17.6 billion (USD 2.9 billion) on a fully diluted basis.

All regulatory approvals required for completion of the proposed acquisition have been obtained. The transfer of shares to Bayer and the payment of the Offer price will take place in the coming days but no later than 12 March, 2014, subject to the closing conditions set out in the Offer document published on 20 January, 2014. Thereafter, Bayer announced that it intends to initiate a compulsory acquisition process, with the aim of becoming the sole shareholder of Algeta and to file for delisting of the Algeta shares from the Oslo Stock Exchange. Bayer expects to complete the acquisition in the first quarter of 2014.

###

For further information, please contact:
Oystein Soug +47 90 65 65 25
Chief Financial Officer

Mike Booth +1 646 410 1884
Communications & Corporate Affairs ir@algeta.com

About Algeta

Algeta is a company focused on developing, manufacturing and marketing novel targeted therapies for patients with cancer. The company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Forward-looking Statements

This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Algeta. Such forward-looking statements reflect our current expectations and are based on the information currently available to Algeta. Algeta cannot give any assurance as to whether such forward looking statements will prove to be correct. These forward looking statements include statements regarding the Offer, conditions relating to the Offer and expected timing of the Offer, including the expected timing of closing and delisting. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, satisfaction of conditions to the Offer and the Oslo Stock Exchange’s approval of the delisting.

Feb 18
Love0

Versartis Secures $55 Million in Series E Financing

By Press Release
Press Release.

 

REDWOOD CITY, CA – Feb 18, 2014 – Versartis, Inc., an endocrine-focused biopharmaceutical company that is developing a novel, long-acting form of recombinant human growth hormone (rhGH) for the treatment of growth hormone deficiency (GHD), today announced that it has completed a $55 million Series E financing. Five undisclosed new investors, all of which are leading life science investment firms, joined existing investors Sofinnova Ventures, Aisling Capital, New Leaf Venture Partners and Advent Life Sciences in this round. Versartis was founded by Amunix, Inc. and Index Ventures to explore the clinical potential of novel drugs using Amunix’s XTEN technology. This financing brings the company’s total capital raised to $132 million.

The proceeds from this financing will primarily be used to prepare for an international Phase 3 pediatric GHD trial of VRS-317, the company’s proprietary long-acting rhGH for the treatment of GHD. VRS-317 is currently being studied in pediatric GHD patients in a Phase 2a clinical trial to evaluate the 6-month efficacy and safety.

“We are pleased to welcome our new investors to our investor syndicate,”

said Versartis Chief Executive Officer Jeffery L. Cleland, PhD.

“This financing will allow us to further advance the clinical development of our lead compound, VRS-317, which we believe has the potential to be a highly differentiated treatment for pediatric GHD.”

About Versartis

Versartis, Inc. is an endocrine-focused biopharmaceutical company initially developing VRS-317, a novel, long-acting form of recombinant human growth hormone, for the treatment of growth hormone deficiency (GHD). The company is currently completing a Phase 2a clinical trial of VRS-317 in children with GHD. Further information on Versartis can be found at www.versartis.com.

# # #

Feb 05
Love0

Cellnovo launches first Mobile Diabetes Management System at the ATTD Conference in Vienna, Austria

By Cellnovo, Press Release
Press Release.

 

Real-time tracking – an industry first for insulin pump technology

Swansea, 5 February 2014 – Cellnovo, the leading innovator in Mobile Diabetes Management technology, today announces the UK launch of the Company’s unique Diabetes Management System, the first of its kind with mobile connectivity able to provide immediate, wireless data updates, displaying real-time clinical information to patients, caregivers and healthcare professionals. Cellnovo is exhibiting and demonstrating the Cellnovo System at the international conference on Advanced Technologies and Treatment for Diabetes (ATTD) in Vienna, Austria from February 5-8.

The Cellnovo System will initially be rolled out to a group of participating centres throughout the UK as part of a phased launch that started in Wales at the end of 2013. It will subsequently be made available in a selection of leading centres in the Netherlands and France during H1 2014.

Eric A. Beard, Cellnovo Executive Chairman commented:

“The feedback we have received from patients and healthcare professionals during our extensive testing, trialing and local launch phases, has been excellent. Patients love the discreetness of the pump, its intuitive operation and the immediate availability of information. Healthcare professionals appreciate the benefits of a revolutionary system like ours, giving them access to true mobile health management tools. The UK launch is a significant milestone for the Company and we look forward to rolling out the product across Europe.”

The Cellnovo System is an innovative Mobile Diabetes Management System that comprises a wireless connected patch pump and a mobile touchscreen controller with an integrated blood glucose meter (“handset”). The proprietary software provides intuitive operation, internet connectivity and real-time tracking. It is the first device of its kind designed to allow patients the freedom to enjoy a full lifestyle with the comfort that they can closely monitor blood glucose levels, insulin use, activity and diet. The online data management system also displays real-time clinical information to healthcare professionals and caregivers.

Type 1 diabetes develops when the body is unable to produce insulin. The prevalence of diabetes has reached 371 million (8.3% of the world population)1 and Type 1 diabetes accounts for 10 per cent of all adults with diabetes. Multiple daily insulin injections do not provide the continuous precise insulin delivery of an insulin pump, which most closely mirrors the release of insulin in someone without diabetes. Today, in Western Europe and North America only 20% of insulin dependent patients are on pumps.

For further information please contact:

Cellnovo
Eric Beard, Executive Chairman    +44 (0)20 3058 1250

FTI Consulting

Julia Phillips / Simon Conway / Natalie Garland-Collins    +44 (0)20 7269 7121

Sources

1.    International Federation of Diabetes, 2012

About Cellnovo

Cellnovo, a UK-based medical device company, is a leading innovator in Mobile Diabetes Management technology. The Company’s proprietary Diabetes Management System comprises a wireless connected patch pump, mobile touchscreen handset/controller with an integrated blood glucose meter and applications. This system provides intuitive operation, wireless Internet connectivity and real-time tracking, all industry firsts which represent a revolution for insulin pump technology. For further information, please visit www.cellnovo.com.

Feb 05
Love0

UniQure Announces Pricing of Initial Public Offering

By Press Release, UniQure
Press Release.

 

Amsterdam, the Netherlands, February 5, 2014 – uniQure B.V. (“uniQure”), a leader in human gene therapy, today announced the pricing of its initial public offering of 5,400,000 ordinary shares at an initial public offering price of $17.00 per ordinary share. In addition, uniQure has granted the underwriters a 30-day option to purchase up to an additional 810,000 ordinary shares from uniQure at the public offering price, less underwriting discounts. After deducting the underwriting discounts and other estimated offering expenses payable by uniQure, the net proceeds of the initial public offering are expected to be approximately $81.9 million. The offering is expected to close on or about February 10, 2014, subject to customary closing conditions. uniQure’s ordinary shares have been approved for listing on the NASDAQ Global Select Market and are expected to begin trading under the symbol “QURE” on February 5, 2014.

Jefferies LLC and Leerink Partners LLC are acting as joint book-running managers for the offering. Piper Jaffray & Co. is acting as lead manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 4, 2014. The offering will be made only by means of a prospectus, copies of which may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com, or by phone at 877-547-6340; or from Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by email at Syndicate@Leerink.com, or by phone at 800-808-7525.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About uniQure
uniQure is delivering on the promise of gene therapy through single treatments with potentially curative results. We have developed a modular platform to rapidly bring new disease-modifying therapies to patients with severe disorders. We are engaged in multiple partnerships and have obtained regulatory approval of our lead product, Glybera, in the European Union for a subset of patients with LPLD.

uniQure:
Jörn Aldag
CEO uniQure
T: +31 20 566 8014
j.aldag@uniqure.com

Media inquiries:
Gretchen Schweitzer
MacDougall Biomedical Communications
T: +49 172 861 8540
gschweitzer@macbiocom.com

Feb 05
Love0

Agenus Prices Public Offering of Common Stock

By Agenus, Press Release, Publicly Listed
Press Release.

 

Lexington, MA (February 5, 2014): Agenus Inc. (Nasdaq: AGEN) today announced the pricing
of an underwritten public offering of 19,335,653 primary shares of its common stock at a price of
$2.70 per share. Agenus has granted the underwriters a 30-day option to purchase up to
2,900,347 additional shares of common stock to cover over-allotments, if any.

William Blair & Company, L.L.C. is acting as sole book-running manager for the
offering. Maxim Group LLC is acting as lead manager and H.C. Wainwright & Co., LLC and
MLV & Co. LLC are acting as co-managers for the offering. Geller Biopharm Inc. is acting as
financial advisor for the offering.

The shares will be issued by Agenus pursuant to a shelf registration statement that was
previously filed with, and declared effective by, the Securities and Exchange Commission
(SEC). A preliminary prospectus supplement related to the offering has been filed with the SEC
and is available on the SEC’s website located at www.sec.gov. A final prospectus supplement
related to the offering will be filed with the SEC.

This press release does not constitute an offer to sell or a solicitation of an offer to buy
nor shall there be any sale of these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of a
prospectus supplement and accompanying prospectus forming a part of the effective registration
statement, copies of which may be obtained, when available, from William Blair & Company,
L.L.C., Attention: Prospectus Department, 222 West Adams Street, Chicago, IL 60606, by
telephone at (800) 621-0687, or by e-mail at prospectus@williamblair.com.

About Agenus

Agenus Inc. is a biotechnology company working to develop treatments for cancers and
infectious diseases. The company is focused on immunotherapeutic products based on strong
platform technologies with multiple product candidates advancing through the clinic, including
several product candidates that have advanced into late-stage clinical trials through corporate
partners. Between Agenus and its partners, 23 programs are in clinical development.

Additional Information

Statements made in this press release include forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, regarding, but not limited to, the use of proceeds
from the offering. Forward-looking statements can be identified by the use of words such as
“may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable
terminology. Such forward-looking statements are inherently subject to certain risks, trends and
uncertainties, many of which Agenus cannot predict with accuracy and some of which Agenus
might not even anticipate, and involve factors that may cause actual results to differ materially
from those projected or suggested. These risks and uncertainties include, among others, the
factors described under the Risk Factors section of Agenus’ Current Report on Form 8-K, which
was filed with the SEC on February 4, 2014. Agenus cautions investors not to place considerable
reliance on the forward-looking statements contained in this release. These statements speak only
as of the date of this press release, and Agenus undertakes no obligation to update or revise the
statements.

Media and Investor Contact:
Jonae R. Barnes
Vice President
Investor Relations and
Corporate Communications
jonae.barnes@agenusbio.com
617-818-2985

Jan 28
Love0

First Clinical Trial for NeRRe Therapeutics

By F2G, Press Release, Private Companies
Press Release.

 

First Clinical Trial for NeRRe Therapeutics

Press Release:

Start of Phase II study of neurokinin-1 receptor antagonist orvepitant for intense pruritus induced by epidermal growth factor receptor inhibitors

First Clinical Trial for NeRRe Therapeutics

Stevenage, UK, 23 January 2014. NeRRe Therapeutics Ltd, which is focused on the development of neurokinin (NK) receptor antagonists for a range of indications, is pleased to announce the start of a Phase II study of the novel NK-1 receptor antagonist orvepitant. The proof-of-concept study, results of which are expected in 2015, is investigating orvepitant’s effectiveness as a treatment for the intense pruritus (itch) associated with epidermal growth factor receptor inhibitor (EGFRi) anticancer therapies. The itch intensity experienced by patients can be so severe that their EGFRi dose must be reduced or the treatment withdrawn; also pruritus along with rash has a significant effect on quality of life1.

The RELIEVE-1 trial is a randomised, double-blind, placebo-controlled study to evaluate the safety, tolerability and efficacy of two daily dose levels of oral orvepitant on EGFRi-induced intense pruritus in oncology subjects. Its primary endpoint is the difference between orvepitant and placebo in reducing the intensity of pruritus over 4 weeks, as measured on a subject-recorded numerical rating scale. RELIEVE-1 is being undertaken in 15 clinical sites in Italy, with Dr Bruno Vincenzi from Università Campus Bio-Medico di Roma as lead investigator. Dr Vincenzi and his colleagues at the centre have pioneered the use NK-1 antagonists as anti-pruritics in this setting2. Chemistry, manufacturing and control support for RELIEVE-1 is being provided by Aptuit (Verona) Srl, with clinical operations assistance from the CRO Cromsource.

Dermatologic adverse events such as pruritus are a common feature of targeted anti-cancer therapies, with incidence of this symptom induced by EGFRia drugs in clinical trials ranging from 14.6% to 54.9% depending on the specific agent3. Open-label studies in patients suffering from refractory chronic pruritus have indicated that NK-1 receptor antagonism can provide rapid and highly effective relief as well as significantly improving quality of life.2,4,5,6

Dr Mike Trower, Co-founder & Chief Operating Officer of NeRRe Therapeutics said:  ‘We are very pleased to announce the start of RELIEVE-1, NeRRe’s first clinical trial, in this important area of unmet medical need. There is a strong rationale and a growing body of clinical evidence supporting the potential of orvepitant as an anti-pruritic for this devastating symptom commonly associated with EGFRis. Given its known effects on mood and sleep, orvepitant may also provide additional benefits for patient well-being.’

Dr Emiliangelo Ratti, NeRRe Therapeutics Co-founder added: ‘The intense pruritus induced by EGFRis can lead to significant suffering and poor quality of life, and we believe that a treatment for this troubling side effect would be welcomed by cancer patients and supportive care doctors alike. A successful study of orvepitant in this indication would provide further evidence of the broad therapeutic potential of the NK-1 receptor antagonist mechanism which NeRRe is exploiting in its pipeline.’

–ENDS–

a This includes monoclonal antibodies that target the extracellular domain of EFGR, small molecule tyrosine kinase (TK) inhibitors, and small molecule dual TK inhibitors.

For more information about NeRRe Therapeutics, please contact:
Dr Mike Trower, Chief Operating Officer
Tel: +44 (0) 1438 906960
Email:  info@nerretherapeutics.com

About NeRRe Therapeutics
NeRRe Therapeutics was formed in December 2012 and is focussed on the development of a portfolio of NK receptor antagonists acquired from GlaxoSmithKline (GSK), which have therapeutic potential in a broad range of indications. NeRRe Therapeutics was co-founded by Drs Emiliangelo Ratti and Mike Trower, both of whom are both former senior leaders of neurosciences drug discovery at GSK with intimate knowledge of the transferred assets and the neurokinin receptor system field. In 2012 NeRRe Therapeutics raised £11.5 million ($18.4 million) in Series A financing from two leading European financial institutions, Novo A/S (www.novo.dk/ventures) and Advent Life Sciences (www.adventventures.com), who are represented by Dr Martin Edwards (Chairman) and Dr Kaasim Mahmood respectively on the company’s Board.

NeRRe (www.nerretherapeutics.com) is based at the state-of-the-art Stevenage Bioscience Catalyst (www.stevenagecatalyst.com), the UK’s first open innovation bioscience campus.

About Orvepitant
Orvepitant is a ‘novel generation’ brain penetrant, selective and potent, small molecule NK-1 receptor antagonist7 that features high receptor occupancy and full and long lasting (≥24hrs) central NK-1 receptor occupancy8. It has previously completed extensive safety and toxicology studies to support its clinical development; and it has already demonstrated a positive antidepressant effect in a Phase II clinical study together with beneficial effects on sleep8.

References:
1.    Rosen AC et al. Am J Clin Dermatol. (2013), 14(4):327-33
2.    Santini D et al. Lancet Oncol. (2012), 13(10):1020-4
3.    Ensslin CJ et al. J Am Acad Dermatol. (2013), 69(5):708-20
4.    Duval A, Dubertret L. N Engl J Med. (2009), 1;361(14):1415-6
5.    Ständer S et al. PLoS One. (2010), 5(6):e10968
6.    Torres T et al. J Am Acad Dermatol. (2012), 66(1):e14-5
7.    Di Fabio R et al. Bioorg Med Chem. (2013), 21(21):6264-73
8.    Ratti E et al. J Psychopharmacol. (2013), 27(5):424-34

NeRRe Therapeutics Press Release here:

Jan 23
Love0

First Clinical Trial for NeRRe Therapeutics

By NeRRe Therapeutics, Press Release, Private Companies
Press Release.

 

Start of Phase II study of neurokinin-1 receptor antagonist orvepitant for intense pruritus induced by epidermal growth factor receptor inhibitors

First Clinical Trial for NeRRe Therapeutics

Stevenage, UK, 23 January 2014. NeRRe Therapeutics Ltd, which is focused on the development of neurokinin (NK) receptor antagonists for a range of indications, is pleased to announce the start of a Phase II study of the novel NK-1 receptor antagonist orvepitant. The proof-of-concept study, results of which are expected in 2015, is investigating orvepitant’s effectiveness as a treatment for the intense pruritus (itch) associated with epidermal growth factor receptor inhibitor (EGFRi) anticancer therapies. The itch intensity experienced by patients can be so severe that their EGFRi dose must be reduced or the treatment withdrawn; also pruritus along with rash has a significant effect on quality of life1.

The RELIEVE-1 trial is a randomised, double-blind, placebo-controlled study to evaluate the safety, tolerability and efficacy of two daily dose levels of oral orvepitant on EGFRi-induced intense pruritus in oncology subjects. Its primary endpoint is the difference between orvepitant and placebo in reducing the intensity of pruritus over 4 weeks, as measured on a subject-recorded numerical rating scale. RELIEVE-1 is being undertaken in 15 clinical sites in Italy, with Dr Bruno Vincenzi from Università Campus Bio-Medico di Roma as lead investigator. Dr Vincenzi and his colleagues at the centre have pioneered the use NK-1 antagonists as anti-pruritics in this setting2. Chemistry, manufacturing and control support for RELIEVE-1 is being provided by Aptuit (Verona) Srl, with clinical operations assistance from the CRO Cromsource.

Dermatologic adverse events such as pruritus are a common feature of targeted anti-cancer therapies, with incidence of this symptom induced by EGFRia drugs in clinical trials ranging from 14.6% to 54.9% depending on the specific agent3. Open-label studies in patients suffering from refractory chronic pruritus have indicated that NK-1 receptor antagonism can provide rapid and highly effective relief as well as significantly improving quality of life.2,4,5,6

Dr Mike Trower, Co-founder & Chief Operating Officer of NeRRe Therapeutics said:  ‘We are very pleased to announce the start of RELIEVE-1, NeRRe’s first clinical trial, in this important area of unmet medical need. There is a strong rationale and a growing body of clinical evidence supporting the potential of orvepitant as an anti-pruritic for this devastating symptom commonly associated with EGFRis. Given its known effects on mood and sleep, orvepitant may also provide additional benefits for patient well-being.’

Dr Emiliangelo Ratti, NeRRe Therapeutics Co-founder added:

‘The intense pruritus induced by EGFRis can lead to significant suffering and poor quality of life, and we believe that a treatment for this troubling side effect would be welcomed by cancer patients and supportive care doctors alike. A successful study of orvepitant in this indication would provide further evidence of the broad therapeutic potential of the NK-1 receptor antagonist mechanism which NeRRe is exploiting in its pipeline.’

–ENDS–

a This includes monoclonal antibodies that target the extracellular domain of EFGR, small molecule tyrosine kinase (TK) inhibitors, and small molecule dual TK inhibitors.

For more information about NeRRe Therapeutics, please contact:
Dr Mike Trower, Chief Operating Officer
Tel: +44 (0) 1438 906960
Email:  info@nerretherapeutics.com

About NeRRe Therapeutics
NeRRe Therapeutics was formed in December 2012 and is focussed on the development of a portfolio of NK receptor antagonists acquired from GlaxoSmithKline (GSK), which have therapeutic potential in a broad range of indications. NeRRe Therapeutics was co-founded by Drs Emiliangelo Ratti and Mike Trower, both of whom are both former senior leaders of neurosciences drug discovery at GSK with intimate knowledge of the transferred assets and the neurokinin receptor system field. In 2012 NeRRe Therapeutics raised £11.5 million ($18.4 million) in Series A financing from two leading European financial institutions, Novo A/S (www.novo.dk/ventures) and Advent Life Sciences (www.adventventures.com), who are represented by Dr Martin Edwards (Chairman) and Dr Kaasim Mahmood respectively on the company’s Board.

NeRRe (www.nerretherapeutics.com) is based at the state-of-the-art Stevenage Bioscience Catalyst (www.stevenagecatalyst.com), the UK’s first open innovation bioscience campus.

About Orvepitant
Orvepitant is a ‘novel generation’ brain penetrant, selective and potent, small molecule NK-1 receptor antagonist7 that features high receptor occupancy and full and long lasting (≥24hrs) central NK-1 receptor occupancy8. It has previously completed extensive safety and toxicology studies to support its clinical development; and it has already demonstrated a positive antidepressant effect in a Phase II clinical study together with beneficial effects on sleep8.

References:
1.    Rosen AC et al. Am J Clin Dermatol. (2013), 14(4):327-33
2.    Santini D et al. Lancet Oncol. (2012), 13(10):1020-4
3.    Ensslin CJ et al. J Am Acad Dermatol. (2013), 69(5):708-20
4.    Duval A, Dubertret L. N Engl J Med. (2009), 1;361(14):1415-6
5.    Ständer S et al. PLoS One. (2010), 5(6):e10968
6.    Torres T et al. J Am Acad Dermatol. (2012), 66(1):e14-5
7.    Di Fabio R et al. Bioorg Med Chem. (2013), 21(21):6264-73
8.    Ratti E et al. J Psychopharmacol. (2013), 27(5):424-34

NeRRe Therapeutics Press Release here:

Jan 20
Love0

Bayer commences voluntary cash offer to acquire the entire issued share capital of Algeta

By Algeta, Press Release
Press Release.

 

Oslo, Norway, 20 January, 2014 – Algeta ASA (“Algeta”; OSE: ALGETA) today announced that Aviator Acquisition AS, a wholly-owned subsidiary of Bayer Nordic SE, has commenced the voluntary cash offer (the “Offer”) to acquire the entire issued share capital of Algeta for NOK 362 per share.

The Offer values the total share capital of Algeta at approximately NOK 17.6 billion (USD 2.9 billion) on a fully diluted basis. The Board of Directors of Algeta has unanimously decided to recommend that its shareholders accept the Offer.

The Offer period starts on 20 January, 2014 and expires at 9:00am CET on 24 February, 2014. Bayer has obtained pre-acceptances for approximately 14% of the shares in Algeta, including pre-acceptances from all members of Algeta’s Board of Directors, certain senior managers as well as from Algeta’s largest shareholder, HealthCap IV.

The consummation of the Offer remains subject to satisfaction or waiver of customary conditions, including a minimum acceptance of at least 90% or such lower percentage (not being less than 50%) of the outstanding Algeta shares as Aviator Acquisition AS determines and no material adverse change having occurred in Algeta. The German Federal Cartel Office’s clearance of Bayer’s acquisition of Algeta was announced on 6 January, 2014. No further antitrust approvals are required.

The Offer document, containing the full terms and conditions of the Offer, was published today by Aviator Acquisition AS. Subject to restrictions under applicable securities laws, the Offer document will be distributed to all shareholders listed in Algeta’s share register and will also be available at sebgroup.com/prospectuses and via www.algeta.com.

As set forth in the Offer document, the Offer period is scheduled to expire on 24 February, 2014 and may be extended, at any time and on one or several times, provided however, that the maximum Offer period may not exceed 10 weeks. Bayer expects to close the transaction during the first quarter of 2014.

Important Information about the Offer

The Offer described in this press release has commenced. This press release is neither an offer to purchase nor a solicitation of an offer to sell shares. The Offer to purchase all the shares of Algeta is contained in the Offer document filed by Aviator Acquisition AS with the Norwegian regulatory authority Oslo Stock Exchange (OSE) and approved by the OSE on 20 January, 2014. Algeta stockholders and other investors are urged to carefully read the Offer document before making any decision with respect to the Offer. The complete Offer document will, subject to restrictions under applicable securities laws, be distributed free of charge to all Algeta shareholders registered in Algeta’s share register in Verdipapirsentralen (the Norwegian Central Securities Depository), and at sebgroup.com/prospectuses.

###

For further information, please contact:
Oystein Soug     +47 90 65 65 25
Chief Financial Officer

Mike Booth     +1 646 410 1884
Communications & Corporate Affairs     ir@algeta.com

About Algeta

Algeta is a company focused on developing, manufacturing and marketing novel targeted therapies for patients with cancer. The company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Forward-looking Statements

This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Algeta. Such forward-looking statements reflect our current expectations and are based on the information currently available to Algeta. Algeta cannot give any assurance as to whether such forward looking statements will prove to be correct. These forward looking statements include statements regarding the Offer, conditions relating to the Offer and expected timing of the Offer, including the expected timing of closing. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, satisfaction of conditions to the Offer and investor participation in the Offer.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Jan 13
Love0

Agenus Enters into Definitive Agreement to Acquire Privately Held 4-Antibody AG

By Agenus, Press Release, Publicly Listed
Press Release.

 

  • 4-Antibody has a powerful platform for rapid discovery and optimization of fully-human antibodies against a wide array of  molecular targets
  • Lead programs target six immune checkpoint molecules
  • Checkpoint antibodies have produced unprecedented results against a variety of cancers affecting a large number of patients
  • Collaborations with the Ludwig Institute for Cancer Research and Memorial Sloan-Kettering Cancer Center

Lexington, MA – January 13, 2014

Agenus Inc. (Nasdaq: AGEN) a biotechnology company developing novel immune system activating treatments for cancers and infectious diseases, today announced that it has entered into a definitive agreement to acquire 4-Antibody AG, a private European-based biopharmaceutical company. 4-Antibody has a technology platform for the rapid discovery and optimization of fully-human antibodies against a wide array of molecular targets of interest. These targets include checkpoint molecules that regulate immune response to cancers and other diseases. The company has multiple preclinical immune checkpoint antibody programs targeting numerous checkpoint molecules, including GITR and OX40, as well as four additional undisclosed checkpoint programs. These checkpoint programs are being pursued through a strategic collaboration with the Ludwig Institute for Cancer Research and Memorial Sloan-Kettering Cancer Center (MSKCC) in New York.

Checkpoint-targeting antibodies have produced unprecedented clinical results in various cancers, such as melanoma, renal cell carcinoma and non-small cell lung cancer (NSCLC). There is also a growing interest in combining checkpoint-targeting antibodies with other immune stimulating agents.

Under the terms of the agreement, Agenus has agreed to acquire all of the outstanding stock of 4-Antibody for an initial payment of $10 million in shares of Agenus common stock, plus additional contingent payments, payable in cash or Agenus common stock, that may exceed $40 million based on the combined company achieving certain milestones. The transaction is expected to be completed by the end of February 2014, subject to customary closing conditions.

Agenus intends to maintain 4-Antibody’s current operations in Basel, Switzerland and Jena, Germany, and to retain the 4-Antibody management team as part of the combined company. In addition, Shahzad Malik, M.D., General Partner at Advent Venture Partners, 4-Antibody’s largest investor, will be appointed to Agenus’ Board of Directors upon the closing.

“This acquisition will initially provide Agenus with two leading edge checkpoint antibody programs targeting GITR and OX40 as well as programs targeting numerous additional checkpoint molecules,”

said Garo Armen, Ph.D., CEO and chairman of Agenus.

“With these assets, we will be uniquely positioned to pursue cancer immunotherapy with a broad portfolio of innovative approaches. Furthermore, we will gain a flexible platform for rapid discovery and optimization of fully-human antibodies against a wide array of molecular targets of interest.”

4-Antibody is in collaboration with leading institutions such as the Ludwig Institute for Cancer Research and MSKCC, and corporate collaborations include Brazil based Recepta Biopharma. The company is in discussions for additional potential corporate partnerships.

“The translational expertise of the Ludwig Institute and MSKCC, coupled with 4-Antibody’s powerful antibody discovery platform, has allowed us to generate a robust product pipeline of programs in the fast moving immune checkpoint field. Agenus’ extensive experience in pre-clinical and clinical development of immunotherapies provides a unique combination of resources for the speedy development of these programs,”

said Robert Burns, Ph.D, CEO of 4-Antibody.

About Checkpoint Antibodies
Considerable recent interest in the field of cancer immunotherapy has been generated by promising clinical data with monoclonal antibodies that bind to checkpoint molecules, such as cytotoxic T lymphocyte antigen-4 (CTLA-4) and programmed death receptor-1 (PD-1). Blocking these checkpoint molecules unlocks the braking mechanism that gets in the way of immune cells attacking cancer cells.
Other checkpoint molecules, such as GITR and OX40, act to stimulate immune function. 4-Antibody has cutting edge programs to discover and develop fully human or humanized monoclonal antibodies that act as agonists for GITR or OX40 signaling.

About Agenus
Agenus Inc. is a biotechnology company developing treatments for cancers and infectious diseases. The company has multiple immunotherapeutic products in its clinical development portfolio. Through partnerships involving its QS-21 Stimulon adjuvant, there are 21 candidates in clinical development. These include four late stage Phase 3 programs with GlaxoSmithKline. For more information, please visit www.agenusbio.com, or connect with the company on Facebook, LinkedIn, Twitter and Google+.

About 4-Antibody AG
4-Antibody has developed a powerful fully-human antibody drug-discovery and optimization technology platform which it is utilizing to generate a novel pipeline of antibody therapeutic candidates. The company’s proprietary discovery engine Retrocyte Display® generates high quality therapeutic antibody drug candidates quickly using a high-throughput approach incorporating full-length IgG format human antibody libraries expressed in mammalian B-lineage cells. 4-Antibody is a private company located in Basel, Switzerland and Jena, Germany. For more information please visit: www.4-antibody.com

Forward-Looking Statement
This press release contains forward-looking statements, including without limitation, statements regarding the proposed acquisition of 4-Antibody, the potential effects that the acquisition of 4-Antibody may have on the business of the Company, and the ability of 4-Antibody platform to generate product candidates and their potential application in the prevention and treatment of diseases. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the factors described under the Risk Factors section of our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission for the period ended September 30, 2013. Agenus cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this document, and Agenus undertakes no obligation to update or revise the statements. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Agenus’ business is subject to substantial risks and uncertainties, including those identified above. When evaluating Agenus’ business and securities, investors should give careful consideration to these risks and uncertainties.