Deals this week: Selvita Inc, Celsion Corporation, Pharming Group

11th August 2016 (Last Updated August 11th, 2016 18:30)

Selvita Inc and University of California, San Francisco (UCSF) have entered an agreement to further develop therapeutics with pharmacological properties for neurodegenerative diseases.

Selvita Inc and University of California, San Francisco (UCSF) have entered an agreement to further develop therapeutics with pharmacological properties for neurodegenerative diseases.

According to the agreement, the project will be conducted in the institute of neurodegenerative diseases UCSF and Selvita will be responsible for processes such as chemical synthesis, purification, structure determination and purity analysis of small molecules.

The agreement enables the two partners to develop new derivatives that can potentially treat neurodegenerative diseases.

Celsion Corporation has entered a long-term technology transfer, manufacturing and commercial supply agreement with Zhejiang Hisun Pharmaceutical Co. Ltd to further develop GEN-1 immuno-oncology therapy.

"BioMarin Pharma plans to raise gross proceeds of $720m through the underwritten public offering of 7.5 million of its common stock shares."

The agreement enables the two partners to perform technology transfer of clinical and commercial manufacture and supply of GEN-1, Celsion’s proprietary gene mediated IL-12 immunotherapy for supporting the clinical studies in the US and China.

Pharming Group has entered a definitive agreement with Valeant Pharmaceuticals International to acquire its product Ruconest (recombinant human C1 esterase inhibitor) for a purchase consideration of $125m, to accelerate the company’s development as a profitable specialist pharmaceutical company.

According to the agreement, Pharming Group will own all the commercial rights of the drug in the US, Mexico and Canada and will pay an upfront payment of $60m and a one-time payment of approximately $65m in the coming years based on specific milestone events to Valeant Pharma.

BioMarin Pharma plans to raise gross proceeds of $720m through the underwritten public offering of 7.5 million of its common stock shares.

The company intends to invest the funds raised through the offering to advance the clinical trials of its product candidates and the expansion of its manufacturing capacity for gene therapy programme.

Arrowhead Pharmaceuticals has priced the private placement of 7.6 million shares of its common stock. The company expects to raise gross proceeds of $45m through the offering.

Cantor Fitzgerald & Co is acting as the placement agent to the offering, which is expected to be completed on 12 August 2016.