Scrip: industry news and insights
What Does Korea Need To Develop Blockbuster Drugs?
By Jung Won Shin 12 Apr 2021
A recent industry forum in South Korea heard expert views on the issues and strategies required to take the country...
French biotech Deinove has acquired, through a contribution-in-kind transaction, the entire capital of Austrian biotech Biovertis AG and its wholly owned German subsidiary Morphochem AG. The deal also provides Deinove with MCB3837, an IV compound developed by Morphochem to treat severe gastrointestinal infections cause by Clostridium difficile which is currently ipoised to enter Phase II.
Under the terms of the deal, Biovertis and Morphochem shareholders will receive 500,001 Denoive shares – worth about €900,000 – although there is the potential for them to eventually own 8m shares should a series of regulatory milestones be reached, valuing the deal at €14.4m. Biovertis and Morphochem have between them raised more than $96m in venture funding.
While declining to give details of how the valuations were calculated, TVM Capital managing partner Hubert Birner confirmed to Scrip that it would be taking a haircut on the deal. This is one of the last transactions for TVM LSV V which was raised in 2001. We continue to do life science investments, of course, with our current fund TVM LSV VII,” he told Scrip. TVM will owned 82.98% of the newly acquired Denoive shares.
Scrip: industry news and insights
By Jung Won Shin 12 Apr 2021
A recent industry forum in South Korea heard expert views on the issues and strategies required to take the country...
Scrip: industry news and insights
By Kevin Grogan 09 Apr 2021
The US regulator is worried about deficiencies in the submission for Provention Bio’s high-profile therapy teplizumab for the prevention of...
Scrip: industry news and insights
By John Davis 09 Apr 2021
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies...
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