Envoy Enters Diabetes and Obesity Collaboration with Merck & Co., Inc.

Envoy Therapeutics, Inc. today announced that it has entered into a multi-year research collaboration agreement with an affiliate of Merck & Co., Inc. to discover novel diabetes and obesity drug targets. Under the agreement, Envoy will use its proprietary bacTRAP® technology to identify proteins expressed specifically in certain cell types. Merck will then work to identify and develop compounds that modulate protein targets with therapeutic potential for the treatment of metabolic...

AstraZeneca and Dako Sign Agreement to Develop Companion Diagnostics for Cancer Treatments

AstraZeneca and Dako Denmark A/S announced today that they have entered into a collaboration agreement to develop companion diagnostic tests for multiple AstraZeneca oncology projects, including biologics and small molecules, in various stages of discovery and development. Under the agreement, the companies will work together to develop diagnostic tests to help physicians determine the most appropriate cancer treatment for patients. The financial terms of the deal were not disclosed. The...

Novartis AG exercises option to purchase remaining shares in Alcon

Novartis AG announced today that it had exercised its option to purchase the remaining shares in Alcon, Inc. owned by Nestle S.A. at a weighted average price of US$180 per share in...

Swiss drug maker Novartis says to buy US biopharmaceutical Corthera for $120M

Swiss pharmaceuticals maker Novartis AG said Wednesday it will buy U.S. biopharmaceutical company Corthera...

AstraZeneca to pay up to $505M for Novexel

Not to be left out of the late-year deal frenzy, AstraZeneca revealed this morning that it will pay at least $350 million--and as much as $505 million--for Novexel, a French biotech company with a pipeline of therapies designed to target infections caused by drug-resistant bacteria in the hospital. Novexel's investors get $350 million in cash, $75 million in milestones and $80 million on the closing. Novexel currently has two antibacterials in Phase II clinical development: the injectable...

Novartis snares Corthera heart drug in $620M buyout

In another sign that 2009 will end with a frenzy of new drug deals, Novartis is putting up $120 million to buy San Mateo, CA-based Corthera, securing complete control of the promising heart drug Relaxin and committing up to $500 million in milestones for the cardiovascular drug's ultimate success. The $620 million deal underscores Novartis' keen interest in expanding its work in cardiovascular disease. With its high blood pressure med Diovan facing the first wave of generic competition next...

Report: Deal-hungry Sanofi eyes stake in Zealand Pharma

Sanofi-Aventis' strategy to do more partnering with the world's most promising biotech companies may spur the pharma giant to take a $143 million stake in Denmark's Zealand Pharma. The two companies are already partnered on AVE0010/ZP10 for Type 2 diabetes, and a European newspaper reports that Sanofi is interested in snagging a 19.9 percent chunk of equity in Zealand. - here's the report from...

Durata Therapeutics acquires Vicuron Pharmaceuticals

Durata Therapeutics, Inc. announced today that it has acquired Vicuron Pharmaceuticals from Pfizer (PFE). Durata is a newly formed biopharmaceutical company that was created by a five-member venture capital syndicate to pursue late-stage clinical development of novel antibiotic programs. The acquisition was funded through a stock purchase by New Leaf Venture Partners, LLC, Domain Associates, LLC, Aisling Capital, Sofinnova Ventures Inc. and Canaan...

Sanofi-aventis to acquire Chattem for $1.9 billion

Sanofi-aventis and Chattem, Inc. announced today that they have entered into a definitive agreement under which sanofi-aventis is to acquire 100 percent of the outstanding shares of Chattem in a cash tender offer for $93.50 per share, or approximately $1.9...

Tibotec Virco Virology BVBA acquires Ground Zero Software’s LAB TRACKER HIV EMR system

Tibotec Virco Virology BVBA today announced the acquisition of LAB TRACKER(TM) HIV, a customized electronic medical record (EMR) system, from the company Ground Zero Software. LAB TRACKER(TM) HIV is a full-service, scalable software platform designed to meet the complex disease-management needs of health care providers who are treating people living with...