MediciNova, Inc., a biopharmaceutical company traded on the NASDAQ Global Market (NASDAQ: MNOV) and the JASDAQ Market of the Tokyo Stock Exchange (Code Number: 4875), today announced an update on the development of a SARS-CoV-2 vaccine for COVID-19. MediciNova has conducted a careful review of its numerous development programs to determine the best allocation of resources going forward considering the stage of development, expected costs of completing clinical development, and the competitive landscape. Given the COVID-19 vaccines currently in use and other vaccines in advanced stages of development, MediciNova has decided to discontinue development of a SARS-CoV-2 vaccine for COVID-19 in order to maintain adequate resources for its other development programs which have indications with larger unmet medical needs and market opportunities.
Wednesday, March 3, 2021
Permira bids for medical device maker LivaNova
Private equity group Permira has made a takeover bid for medical device maker LivaNova, the Financial Times reported on Wednesday, citing people familiar with the matter.
According to the report, the offer, made in mid-February, values LivaNova’s stock at more than $80 a share.
LivaNova did not immediately respond to a Reuters request for comment.
Talks are ongoing but there is no certainty that a deal will be reached, the FT report added.
LivaNova, which has a market capitalization of $3.71 billion, was created in 2015 through a merger of Cyberonics and Storin.
https://www.reuters.com/article/livanova-permira-ma-idUSL3N2L14DR
Takeda buys epilepsy treatment rights from Ovid for up to $856M
Takeda Pharmaceutical Co will spend as much as $856 million to secure global rights from Ovid Therapeutics Inc to an experimental drug being developed to treat rare epilepsy, the companies said on Wednesday.
Takeda will be responsible for future development and commercialization of the drug, soticlestat, worldwide and Ovid will no longer have any financial obligation, the companies said in a statement.
Ovid will receive an upfront payment of $196 million at the close of the agreement, expected by the end of March, and is eligible to receive up to an additional $660 million in milestone payments.
The Japanese drugmaker entered into a collaboration agreement in 2017 with Ovid to develop and market soticlestat, which aims to treat children and adults with Dravet Syndrome and Lennox-Gastaut syndrome.
The companies in August reported results from a mid-stage study showing soticlestat met the main goal of reduction in seizure frequency.
Jazz Pharmaceuticals Plc last month agreed to buy GW Pharmaceuticals Plc in a $7.2 bln deal for its FDA-approved drug, Epidiolex, to treat seizures associated with the two syndromes.
Takeda said it plans to start late-stage studies of soticlestat in children and young adults with the two epileptic syndromes in the second quarter.
Ovid will also receive tiered royalties beginning in the low double-digits and up to 20% on sales of the drug, Takeda said.
https://finance.yahoo.com/news/takeda-buys-epilepsy-treatment-rights-120001496.html
BioXcel: Positive Update on BXCL501 for Dementia Related Agitation
Review of TRANQUILITY data showed 30 mcg dose met statistical significance across multiple scales
Company initiated supplemental 40 mcg dose cohort to help inform clinical development strategy across the full range of dementia care settings
End of Phase 2 meeting scheduled with U.S. Food and Drug Administration (“FDA”) in Q2 2021
Pivotal Phase 3 program expected to begin in the second half of 2021
Ocugen’s COVID-19 Vax Partner, Bharat Biotech shares Phase 3 Interim Results of COVAXIN
- Data from 25,800 participants in Phase 3 trial in India, received vaccine or placebo in a 1:1 ratio showed that the vaccine candidate was well tolerated and demonstrated 81% efficacy in preventing COVID-19 in those without prior infection after the second dose.
- Clinical trial to continue through to final analysis at 130 confirmed cases in order to gather further data and to evaluate the efficacy of COVAXIN in additional secondary study endpoints.
Shares in Poland's Mabion surge on Novavax vaccine programme deal
Shares in Mabion, a Polish biotechnology company, jumped by over 60% on Wednesday morning after it announced a framework cooperation deal with U.S. vaccine developer Novavax on COVID-19 vaccination technology.
"We look forward to a close cooperation with Novavax, which may pave the way for commercial scale production, provided that technology transfer and technical batch are successfully completed", Mabion Chief executive Dirk Kreder said in a statement.
Under the terms of the agreement, Mabion and Novavax will work together to transfer technology for the production of a technical batch of NVX-CoV2373.
Mabion said it expected the technology transfer and verification to complete by the middle of 2021.
"Upon successful completion, Mabion's manufacturing facility could become a part of the supply chain for commercial production of Novavax's adjuvanted protein-based vaccine candidate," Mabion said in a statement.
By 0920 GMT shares in Mabion were up 42.2% at 44.5 zlotys, valuing the company at around 611 million zlotys ($162.79 million).
Mabion was established in 2007 by four Polish pharmaceutical companies - Celon Pharma, Polfarmex, IBSS Krakow and Genexo.
Poland, with a population of around 38 million, has up to date inoculated over 3 million people, mostly with vaccines by Pfeizer, Moderna and AstraZeneca. Like in other EU countries, the programme has been hampered by delays in deliveries.
https://finance.yahoo.com/news/shares-polands-mabion-surge-novavax-093216311.html