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“That’s how it is in biotech – there are ups and downs”
A nine-year journey with Aqilion is coming to an end. New challenges and a new environment await life science entrepreneur Sarah Fredriksson, who is taking over as CEO of AAX Biotech. “It’s going to be really exciting,” she says in an interview.
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Takes on new CEO role as Aqilion winds down its operations
Sarah Fredriksson is leaving Aqilion after nine years as CEO and has already landed a new top job – as CEO of AAX Biotech.
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Boehringer doubles down on China with $7.4 billion deal
Boehringer Ingelheim continues to strengthen its ties with China’s growing pharmaceutical industry. The German pharmaceutical giant has now signed an agreement with Sino Biopharmaceutical covering six cancer programmes, with a potential value of nearly $7.4 billion.
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Egetis receives SEK 5.3 billion takeover bid from US company
US-based ANI Pharmaceuticals has made a SEK 5.3 billion takeover bid for Swedish biotech company Egetis Therapeutics. The Egetis board has unanimously recommended that shareholders accept the offer.
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Sources: AstraZeneca bid $10 billion for Rhythm Pharmaceuticals
Sources cited by the Wall Street Journal say AstraZeneca approached the US biotech with a takeover offer last month. A potential deal would strengthen the pharmaceutical giant's position in obesity and rare diseases.
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Pharmaceutical executives play down AI hype – see no quick path to cures
Leading pharmaceutical executives are questioning Silicon Valley’s promises that AI can soon cure most diseases, the Wall Street Journal writes in an article. So far, no AI-designed drug has been approved by the US FDA.
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Cyberattack hits French blood service
A cyberattack overnight on Sunday led to a sharp rise in temperature settings in refrigerators storing donated blood at France’s national blood service, Établissement français du sang (EFS).
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German Merck divests its US CDMO business
German pharma group Merck KGaA is selling its US CDMO business to Swiss biotech group Lonza. The deal covers five manufacturing sites in the US and around 1,100 employees.
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Egetis sells FDA voucher for 190 million dollars
Swedish biotech Egetis Therapeutics is selling the priority review voucher it recently received following the U.S. approval of its drug Emcitate. The price tag is USD 190 million, half of which will go to the company.
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Novo raises outlook amid Wegovy pill succes
Novo's obesity drugs keeps driving sales, and the launch of the Wegovy pill makes Novo raise its full-year outlook.
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Boule winds down instrument business – job cuts loom
Swedish diagnostics company Boule is to cease manufacturing haematology instruments in a major restructuring expected to save up to SEK 100 million a year. The move will also lead to job cuts, while the company plans a rights issue to finance the transition.
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EU Biotech Act's lead negotiator: “It's now or never”
The EU's proposed Biotech Act does not go far enough, according to Danish MEP Stine Bosse. As a lead negotiator, she wants stronger incentives for European biotech and a single route to ethical approval for cross-border clinical trials – particularly those involving patients with rare diseases.
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They take the helm as Mölnlycke splits in two
Swedish medtech company Mölnlycke has appointed Anders Andersson as its new CEO and Fredrik Wallefors as head of its Surgical business area. The appointments come ahead of the planned split of the medtech company into two independent businesses.
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Novartis ends BioArctic deal: “Nothing to do with BrainTransporter”
BioArctic is losing out on potential milestone payments after Novartis decided to discontinue a research programme involving the Swedish company's BrainTransporter technology. Despite the setback, BioArctic says it is pleased with the preclinical data.
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Five doctors charged in Swedish prescription fraud scheme
Thirteen people, including five doctors, have been charged in a multi-million-krona fraud scheme in which a drug used to treat excessive sweating is suspected of having been prescribed without medical justification.
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Child dies as measles cases surge across US
A child in New York has died from measles, Reuters reports, marking the first known measles-related death in the state in more than three decades. The death comes as the US faces its sharpest rise in measles cases for many years.
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Lytix reports positive cancer data – plans larger trial
Norwegian biotech company Lytix Biopharma has reported positive phase II results for its drug candidate ruxotemitide in melanoma. The company is now aiming for a randomised phase III trial.
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AstraZeneca drops two early-stage prostate cancer drugs
Two of AstraZeneca’s experimental prostate cancer treatments have come to an early end. The pharmaceutical company is discontinuing development of candidates AZD9750 and AZD8359, just months after their first clinical trials began.
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Major deal gives Fresenius access to 37 biosimilar candidates – “We are doubling down”
Fresenius and China's WuXi Biologics have signed an agreement that the German healthcare group describes as “the largest development agreement announced in the biosimilars industry to date”.
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Atlas Antibodies replaces CEO – brings in former OssDsign chief
Swedish biotech Atlas Antibodies is replacing its CEO, Dan Pitulia. He is succeeded by interim CEO Morten Henneveld.
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EU Biotech Act: Extended drug protection sparks debate
An extra year of protection for biotech medicines could boost investment in Europe – but also delay access to cheaper alternatives. The proposal is one of the most contentious elements of the EU's new Biotech Act.
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Alligator Bioscience sells mitazalimab – potential to receive more than 1 billion
Biotechnology company Alligator Bioscience has signed an agreement to sell all rights and assets related to the CD40 agonist antibody mitazalimab to Biossil, according to a press release.
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A Biotech CTO on the Outsourcing Dilemma: “The Stakes Are Extremely High”
For small biotech companies, external expertise can be essential to moving drug development forward. But what happens when priorities shift, financing changes and every milestone matters? Ahead of Pharma Outsourcing – Find the Right Partner in Stockholm on 2 December, we spoke with conference moderator Pernille Hemmingsen, CTO at Adcendo, about the challenges of working with external development partners.
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Eli Lilly drops Alzheimer’s drug candidate after phase II trial
Eli Lilly is discontinuing development of its Alzheimer’s drug candidate mevidalen. The decision follows a phase II trial that failed to meet the company’s expectations – even as the pharmaceutical giant invests billions to strengthen its neurology portfolio.
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