September 16, 2010 – MediGene AG (Frankfurt: MDG, Prime Standard) has obtained a patent on the manufacturing process for the drug candidate EndoTAG(TM)-1 from the US patent office. Patent no. 7,794,747 protects the manufacturing process used for EndoTAG-1 as well as the product manufactured by this process. The term of the patent “Method of producing a cationic liposomal preparation comprising a lipophilic compound” will end on January 25, 2024.
Swiss-Italian vaccine play Okairos today announced the closing of a €16 million series B financing round. The proceeds will be used to further advance Okairos’ product portfolio. The vaccines developed by Okairos are based on new, potent adenovirus vectors that can engage the cellular arms of the immune system to elicit a strong immune response involving T cells. The company is addressing major infectious diseases, e.g. malaria, HIV, hepatitis C and universal influenza. The financing was led by Versant Ventures and joined by the Boehringer Ingelheim Venture Fund. All existing investors – BioMedPartners, LSP and Novartis Venture Funds – also participated in the round. For further information, please visit the company’s website.
Probiodrug (Halle, Germany) has appointed Dr Kumar Srinivasan, previously Vice President, Global Business Development at Wyeth, to Chief Business Officer. Wyeth was acquired by Pfizer in 2009. Probiodrug has a focus on neurodegenerative diseases, in particular Alzheimer’s disease. In this indication, the company pursues a novel target and pathway and is preparing for the start of clinical development of one of its lead candidates, a small molecule inhibitor of the enzyme glutaminyl cyclase (QC). Kumar Srinivasan, MBA, has a background as research chemist and is an experienced pharma / biotech dealmaker. He will be responsible for Probiodrug’s global business development activities and will be based in Philadelphia, PA. The full press release can be found here.
What are the rules of investing in science-based innovation? How much long-term thinking does it take to get through tightened markets and economic downturns? These questions are at the core of Vicki L. Sato´s research, who is a Professor of Management Practice in the Technology and Operations Management unit at Harvard Business School. In addition, she is also an advisor to Atlas Venture´s life sciences team.
In her view, smart science-based businesses regard today´s economic difficulties as an opportunity to boost their research and innovation for long-term competitive advantage. However, she cautions, different situations require different business decisions and investing in R&D is not always the key to success. The right approach, Sato argues, is to evaluate innovation management challenges from various perspectives, such as corporate strategy, organizational design, decision-making, and resource allocation. This is even more important as key investment metrics, which are measuring a company´s past and current financial performance, will not suffice as a stand-alone parameter in determining future success. Even though this is not a new observation and Sato admits that “the rules haven´t been written yet in this field of study”, the faculty research focuses on best practices and cases studies and may therefore come up with insightful and valuable concepts on investing in science-based businesses. We are looking forward to any future updates!
Source: Harvard Business School Working Knowledge, June 1, 2009. Author: Julia Hanna
