AstraZeneca has invested €25m (£23m) into gene messenger drug development, through a research tie-up with German biotech Ethris.
The FTSE 100 drugmaker has agreed to pay Munich-based Ethris the sum upfront, with further payments and royalties possible depending on development progress.
Ethris, which was founded by two German scientists in 2009, specialises in RNA drugs, which instruct human cells to produce therapeutic proteins.
The alliance with AstraZeneca and its biotech division MedImmune will focus on asthma and other respiratory diseases.
Scientists believe the RNA approach holds potential to treat a range of conditions, including cancer and heart disease.
It is not AstraZeneca’s first investment in the field. Last year the company invested a further $140m (£109m) in RNA specialist Moderna Therapeutics, upping its stake to 9pc.
AstraZeneca is looking to bounce back after a negative readout from its lung cancer drugs trial Mystic last month led to its biggest single day share price fall, wiping £10bn from the company’s market value.
By Iain Withers
Source: Telegraph
The new company will have four complementary businesses: Perfumery & Beauty, Food & Beverage/Taste & Beyond, Health, Nutrition & Care and Animal Nutrition & Health, each with strong market positions and expertise to address emerging consumer trends. The businesses will also prioritize environmental sustainability, health and well-being.
Merck (MSD) has signed a definitive agreement for the acquisition of all outstanding shares of Imago BioSciences for a total equity price of nearly $1.35bn. A clinical-stage biopharmaceutical firm, Imago focuses on the development of new therapies to treat myeloproliferative neoplasms (MPNs) and other bone marrow ailments.
Danish pharma Novo Nordisk has announced plans to invest 5.4 billion Danish kroner to expand its existing facilities in Bagsværd. The project will establish extra R&D capacity for manufacturing APIs to supply the company’s global clinical trials for oral and injectable products. The expansion is expected to be finished in 2024, creating about 160 new jobs.
