Evotec Acheives Milestone in Boehringer Ingelheim Collaboration …
Evotec OAI said last week that it has achieved the first project milestone after one year of a three-year collaboration with Boehringer Ingelheim for G-protein coupled receptor discovery.
The payment was granted for the identification of a number of lead series for a priority drug target, Evotec said.
Additional financial details were not disclosed.
… And Raises €27.2 Million in Private Stock Placement
Evotec also said last week that it has issued 10 million shares of stock at a price of €2.72, for a total of €27.2 (about $40 million) to fuel the expansion of Evotec's CNS drug pipeline.
The company said that existing shareholders have pre-emption rights, which may be exercised from June 10 to June 23. The capital increase is guaranteed by a group of investors who have committed to take up shares not signed for by stockholders, Evotec said.
Ambion Licenses RNAi Patents from
Alnylam to Sell Research Products, Services
Alnylam Pharmaceutials has licensed its short interfering RNA technology patents to Ambion to provide research products and services, the companies said last week.
The non-exclusive license comprises use of the Kreutzer-Limmer patent family, owned by Alnylam, which cover siRNAs and their use to mediate RNA interference in mammalian cells.
Ambion is the fifth research products supplier, and the tenth company in total, to take a license to the patent estate from Alnylam, according to the company. The original Kreutzer-Limmer patent is currently opposed in Europe by a number of companies.
Indiana Biotech Hotbed Gets Hotter
with $4M BioCrossroads Seed Fund
BioCrossroads, an initiative to develop the life science industry in Indiana, said yesterday that it has established a $4 million seed fund to support Indiana life science companies in the beginning stages of operation.
The Indiana Finance Authority will also contribute to the seed fund, BioCrossroads said. The fund will provide working capital to candidate companies in the range of $50,000 to $500,000, to be allocated by an investment committee that includes outside investment professionals.
According to a BioCrossroads spokesperson, the venture welcomes applications from a wide variety of companies in life science, and is not targeting any particular niches. The organization is accepting the first round of applications until Aug. 31. Applications can be found at the Indiana Seed Fund website.