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Monday, 29 April 2013
Thursday, 26 April 2012
Transformational deal completed, the evolution continues for Vernalis
Vernalis plc announced its results for the year ended 31 December 2011.
Ian Garland, Chief Executive Officer, commented, “The transformation of Vernalis has continued. Our licensing deal with Tris, announced in February, together with the £65.9 million equity fundraising are important steps to transform the company into a diversified, profitable and self-sustaining specialty pharmaceutical company. The outlook for 2012 remains very positive with progress expected under the Tris collaboration, where development work has already started on three combination products, as well as our existing programmes and research collaborations.”
Operational Highlights
The licensing deal with Tris Pharma, Inc. completed in February 2012 giving Vernalis exclusive rights to Tris’s extended release technology for use in the US prescription cough/cold market. The equity fundraising achieved £65.9 million (net of expenses) and was oversubscribed. Funds are available for further late-stage in-licensing. Vernalis will pay Tris to develop up to six unique extended release (ER) equivalents to existing immediate release (IR) prescription cough/cold treatments.
Vernalis will own all approved products and will commercialise them in a US market with approximately 35 million prescriptions annually, potentially worth over $2 billion. Development work has already been initiated on three combination products. This accelerates Vernalis’ evolution to self-sustained specialty Pharma Company.
Pipeline Activity
Frovatriptan for migraine produces a royalty income of £6.5 million and approval has been received to market frovatriptan in Russia. It has also been launched in South Korea by SK Chemicals.
Research Collaborations
New collaborations have been announced in January 2012 with Genentech and with Servier, in addition to two existing collaborations with Servier.
Financial Highlights
Revenues remain robust with £12.2 million of revenues, Menarini frovatriptan royalties at £6.5 million. A strong balance sheet positions the company for future growth and cash resources are at £24.7 million at 31 December 2011.
Ian Garland, Chief Executive Officer, commented, “The transformation of Vernalis has continued. Our licensing deal with Tris, announced in February, together with the £65.9 million equity fundraising are important steps to transform the company into a diversified, profitable and self-sustaining specialty pharmaceutical company. The outlook for 2012 remains very positive with progress expected under the Tris collaboration, where development work has already started on three combination products, as well as our existing programmes and research collaborations.”
Operational Highlights
The licensing deal with Tris Pharma, Inc. completed in February 2012 giving Vernalis exclusive rights to Tris’s extended release technology for use in the US prescription cough/cold market. The equity fundraising achieved £65.9 million (net of expenses) and was oversubscribed. Funds are available for further late-stage in-licensing. Vernalis will pay Tris to develop up to six unique extended release (ER) equivalents to existing immediate release (IR) prescription cough/cold treatments.
Vernalis will own all approved products and will commercialise them in a US market with approximately 35 million prescriptions annually, potentially worth over $2 billion. Development work has already been initiated on three combination products. This accelerates Vernalis’ evolution to self-sustained specialty Pharma Company.
Pipeline Activity
Frovatriptan for migraine produces a royalty income of £6.5 million and approval has been received to market frovatriptan in Russia. It has also been launched in South Korea by SK Chemicals.
Research Collaborations
New collaborations have been announced in January 2012 with Genentech and with Servier, in addition to two existing collaborations with Servier.
Financial Highlights
Revenues remain robust with £12.2 million of revenues, Menarini frovatriptan royalties at £6.5 million. A strong balance sheet positions the company for future growth and cash resources are at £24.7 million at 31 December 2011.
Medimmune’s Granta Park Staff Play Key Role in Major Deal
MedImmune's Granta Park based staff have played a major role in
building a deal with Amgen to co-develop and co-commercialise five
monoclonal antibodies from Amgen’s clinical inflammation portfolio.
Staff from legal, business development and R & D departments helped support the deal, including negotiating and interfacing with Amgen in the US, and many more are set to become involved in the collaboration which will give MedImmune, the biologics arm of AstraZeneca, one of the strongest respiratory, inflammation and autoimmunity portfolios in the industry.
Says Site Leader and VP Research Jane Osbourn: “Around 60 staff at Granta Park are focused on this therapy area, with a couple of products in phase 2 clinical trial in Cambridge - Tralokinumab for severe asthma and Mavrilimunab for rheumatoid arthritis. The most advanced of the five monoclonal antibodies involved in the collaboration deal is Brodalumab, an antibody for psoriasis, which we hope to push into phase 3 this year. The deal will also give us the opportunity to look at additional diseases, including psoriasis, psoriatic arthritis and Crohn’s disease.”
The deal has also brought much pride to MedImmune’s Granta Park based staff: “It’s great to get a late stage clinical development programme, which is good for morale here and offers many opportunities and choices. Working with a name like Amgen also brings a lot of pride. It reflects well on staff as a whole to work with such an attractive partner, “adds Jane.
Collaboration is a key element to MedImmune's ongoing success, with external development deals fuelling approximately 60% of the company’s pipeline. “We have a collaborative culture at MedImmune, which is actively supported by Granta Park, who have done a great job setting the right tone for us to be able to discuss deals like this. The industry is moving to a more creative phase around partnerships. This shared approach will allow us to drive things forward and share a sense of reward as well as sharing the risk.”
MedImmune has a state-of-the-art Research and Development facility at Granta Park employing around 400 people and is recognized for its rich history as an innovator and a key player in Cambridge’s bioscience community.
Staff from legal, business development and R & D departments helped support the deal, including negotiating and interfacing with Amgen in the US, and many more are set to become involved in the collaboration which will give MedImmune, the biologics arm of AstraZeneca, one of the strongest respiratory, inflammation and autoimmunity portfolios in the industry.
Says Site Leader and VP Research Jane Osbourn: “Around 60 staff at Granta Park are focused on this therapy area, with a couple of products in phase 2 clinical trial in Cambridge - Tralokinumab for severe asthma and Mavrilimunab for rheumatoid arthritis. The most advanced of the five monoclonal antibodies involved in the collaboration deal is Brodalumab, an antibody for psoriasis, which we hope to push into phase 3 this year. The deal will also give us the opportunity to look at additional diseases, including psoriasis, psoriatic arthritis and Crohn’s disease.”
The deal has also brought much pride to MedImmune’s Granta Park based staff: “It’s great to get a late stage clinical development programme, which is good for morale here and offers many opportunities and choices. Working with a name like Amgen also brings a lot of pride. It reflects well on staff as a whole to work with such an attractive partner, “adds Jane.
Collaboration is a key element to MedImmune's ongoing success, with external development deals fuelling approximately 60% of the company’s pipeline. “We have a collaborative culture at MedImmune, which is actively supported by Granta Park, who have done a great job setting the right tone for us to be able to discuss deals like this. The industry is moving to a more creative phase around partnerships. This shared approach will allow us to drive things forward and share a sense of reward as well as sharing the risk.”
MedImmune has a state-of-the-art Research and Development facility at Granta Park employing around 400 people and is recognized for its rich history as an innovator and a key player in Cambridge’s bioscience community.
Vernalis and Servier Achieve Research Milestone in Drug Discovery Collaboration
Vernalis plc and Servier, Suresnes, France, today announce they have
achieved a research milestone in one of their oncology drug discovery
collaborations. As a result, Vernalis will receive a payment of €0.5m
from Servier in recognition of reaching this stage in the programme.
This collaboration between Vernalis and Servier utilises Vernalis’ proprietary fragment and structure-based drug discovery platform on undisclosed oncology targets. Vernalis will receive fees and a share in the future success of the product in the form of milestones and royalties on sales. Financial terms of the collaboration have not been disclosed.
Ian Garland, CEO of Vernalis commented: “This achievement is a further endorsement of our proprietary fragment and structure-based drug discovery platforms and the strength of our collaborative partnership with Servier. We look forward to further success with these collaborations”.
Bernard Marchand, PhD, General Manager of Servier Discovery Research, added: “We are very pleased with the progress of this collaboration showing once again the added value of integrated structural biology on a challenging oncology target”.
Science Park Cambridge
Pictured: Ian Garland, CEO Vernalis
This collaboration between Vernalis and Servier utilises Vernalis’ proprietary fragment and structure-based drug discovery platform on undisclosed oncology targets. Vernalis will receive fees and a share in the future success of the product in the form of milestones and royalties on sales. Financial terms of the collaboration have not been disclosed.
Ian Garland, CEO of Vernalis commented: “This achievement is a further endorsement of our proprietary fragment and structure-based drug discovery platforms and the strength of our collaborative partnership with Servier. We look forward to further success with these collaborations”.
Bernard Marchand, PhD, General Manager of Servier Discovery Research, added: “We are very pleased with the progress of this collaboration showing once again the added value of integrated structural biology on a challenging oncology target”.
Science Park Cambridge
Pictured: Ian Garland, CEO Vernalis
Thursday, 9 February 2012
Cambridge Awards Week 19-23 March: play your part in celebrating Cambridgeshire business success
Companies of all types and sizes are being invited to play their part in Cambridge Awards Week, a major initiative to raise the profile of Cambridgeshire businesses and promote the area as a great place to work and do business.
Granta Park is spearheading promotion of the week, which takes place from 19-23 March 2012, when for the first time Cambridge News and Business Weekly will coordinate their annual awards ceremonies on two different evenings during the week.
Working with key business representatives including One Nucleus, Cambridge Wireless, Cambridge Network and the new Cambridge Cleantech Network, Granta Park will be helping to promote business success in Cambridgeshire, including the launch of a website, www.CambridgeAwardsWeek.co.uk. Companies will be able to use this to promote their own activities and success stories during the week as well as find out about the many events taking place to promote Cambridgeshire businesses. In addition, events will be promoted through local, regional, national and international media including Twitter and Facebook.
Says Granta Park’s Roz Bird: “It is great that the two major business awards have decided to co-ordinate their awards evenings. There is now an opportunity for us all to work together to create further events and initiatives in that week with the aim of raising awareness of the dynamics of the Cambridgeshire business community including recognising business success and the achievements of entrepreneurial business leaders. We’re therefore encouraging businesses throughout Cambridgeshire to contribute in their own way and play their part in a week of celebrations that offers an unmissable opportunity.”
For Granta Park the awards are extension of the work that it continues to do to create a special science community within the Park and beyond.
If you'd like more information about Cambridge Awards Week and to get involved, visit www.CambridgeAwardsWeek.co.uk .
Granta Park is spearheading promotion of the week, which takes place from 19-23 March 2012, when for the first time Cambridge News and Business Weekly will coordinate their annual awards ceremonies on two different evenings during the week.
Working with key business representatives including One Nucleus, Cambridge Wireless, Cambridge Network and the new Cambridge Cleantech Network, Granta Park will be helping to promote business success in Cambridgeshire, including the launch of a website, www.CambridgeAwardsWeek.co.uk. Companies will be able to use this to promote their own activities and success stories during the week as well as find out about the many events taking place to promote Cambridgeshire businesses. In addition, events will be promoted through local, regional, national and international media including Twitter and Facebook.
Says Granta Park’s Roz Bird: “It is great that the two major business awards have decided to co-ordinate their awards evenings. There is now an opportunity for us all to work together to create further events and initiatives in that week with the aim of raising awareness of the dynamics of the Cambridgeshire business community including recognising business success and the achievements of entrepreneurial business leaders. We’re therefore encouraging businesses throughout Cambridgeshire to contribute in their own way and play their part in a week of celebrations that offers an unmissable opportunity.”
For Granta Park the awards are extension of the work that it continues to do to create a special science community within the Park and beyond.
If you'd like more information about Cambridge Awards Week and to get involved, visit www.CambridgeAwardsWeek.co.uk .
Monday, 12 December 2011
Peter out foxes the competition
Peter Cariuk of MedImmune’s photo of a resting fox has won the ‘People’s Choice’ category in the Wildlife Trust’s regional Wildlife at Work photography competition.
Peter’s photo was runner up in the original competition won by Mike Gittos of TWI and his photos was put forward with two others for a public vote. He wins a voucher for a Wildlife Training Workshop.
A total of 157 images were entered into the regional competition, 53 of which were from staff on Granta Park. Another competition is planned for the Spring. All the winning images can be seen at www.wildlifebcnp.org.
Science Park Cambridge
Cambridge - On November 2nd MedImmune announced the winners of its annual European Cancer Research Abstract Competition, which recognises outstanding research of aspiring scientists. Students and postdoctoral fellows from across Europe submitted abstracts describing their research in the field of tumour microenvironments to compete in the prestigious European competition sponsored by MedImmune, AstraZeneca’s global biologics arm.
Alexandra Avgustinova from The Institute of Cancer Research, London, UK was awarded first prize of £2,000 for her research entitled Characterisation of the Tumor-Fibroblast Cross-talk in a Mouse Model of Disease Progression. “For any young scientist, the opportunity to share scientific work is extremely rewarding. Beyond that, having my work acclaimed by a panel of experts is a great honour indeed,” commented Alexandra Avgustinova. “Receiving this award fuels my hope and desire to see my research in practical application in the future. I would like to thank The Institute of Cancer Research for enabling me to conduct this research and MedImmune for the recognition.”
Second and third prizes of £1,000 and £500 were awarded to Metamia Ciampricotti from The Netherlands Cancer Institute, Amsterdam, The Netherlands and Holly Barker from The Institute of Cancer Research, London, UK, respectively Congratulating the winners, Dr Thorsten Hagemann, Clinical Senior Lecturer, Barts Cancer Institute, Queen Mary University of London, UK and one of the competition’s judges said, “It is extremely encouraging to see the quality of scientific work being produced by these young scientists. Initiatives such as this competition are an essential part of our fight against cancer – highlighting new research, helping us to discover fresh scientific talent and new therapeutic solutions to human disease. Alexandra’s research is cutting edge science which will have an immediate impact on cancer treatment”.
“MedImmune is committed to fostering the development of the next generation of leading scientists focused on improving human health. This competition provides us with the opportunity to highlight and reward the innovative work of talented scientists, which in the current economic climate we feel is especially important,” said Matthew McCourt, Director of Biology, Oncology at MedImmune. “We congratulate all ten finalists for being selected in this tough, competitive programme and feel privileged to be able to provide some recognition for their dedication.”
The competition was open to graduate students and postdoctoral fellows in Europe with ten finalists shortlisted to present their research to an expert panel of judges including Dr Thorsten Hagemann, Clinical Senior Lecturer, Barts Cancer Institute, Queen Mary University of London, UK, Dr Christian Blank, Group Leader, Immunology, The Netherlands Cancer Institute, Amsterdam, The Netherlands and a senior executive from both MedImmune and AstraZeneca. The focus of the competition – tumour microenvironments – reflects the research interests of MedImmune’s UK-based Oncology Department in Cambridge. The three winners were announced at the awards ceremony in Cambridge University’s prestigious Downing College following evaluation of their presentations on the basis of scientific merit, innovation and delivery.
About MedImmune
Located on Granta Science Park Cambridge
MedImmune, the global biologics arm of AstraZeneca plc. (LSE: AZN.L, NYSE: AZN) has approximately 3,500 employees worldwide and is headquartered in Gaithersburg, Maryland.
For more information, visit MedImmune's website at www.medimmune.com
Picture - Competition winners, from left to right: Metamia Ciampricotti, The Netherlands Cancer Institute, Amsterdam, The Netherlands - second place. Alexandra Avgustinova, The Institute of Cancer Research, London, UK, - first place. Holly Barker, The Institute of Cancer Research, London, UK, - third place.
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