Liftstream is an executive search recruitment company in the life sciences sector
The UK has been seriously tackling the issue of diversity in the senior ranks of British business. The Davies Review, led by the charismatic but challenging Lord Mervyn Davies, pushed UK boards to get 25% of women on the boards of FTSE 100 companies. This triggered concerted action on the part of the nominated companies because they would be publicly measured, and reported.
The New Year brings a period of reflection, what will you change in the year ahead and how will you do it? There are some clear ways in which the effectiveness of the board can be improved by the way in which the nominations and governance committee discharge their responsibilities. Here we listed 5 resolutions for an effective nominations committee. Click the following links to read detailed articles on each recommendation.
Kuros Biosurgery AG, a biotechnology company developing novel biomaterials and bioactive-biomaterial combination products and focused in therapeutic areas covering sealants and orthobiologics, today announces that it has raised an additional CHF 5 million in a fully subscribed second closing of its financing round. The CHF 5 million was raised from a group of non-disclosed new and existing investors and brings the total raised in the round to CHF 20 million.
Shire plc has appointed Sara Mathew to its Board of Directors as a Non-Executive Director. Sara will also be a member of the Audit, Compliance & Risk Committee of the Shire Board. Both appointments will be effective as of September 1, 2015.
Fresh from announcing that the company will acquire Foresight BioTherapeutics for $300m (here), Shire stepped up its ambitions to acquire the recently spun-out Baxalta, which went public earlier this summer (here). Shire originally approached the Baxalta Board of Directors earlier in July about the coming together of the the two companies, since when the Baxalta Board have been ignoring Shire’s advances, which has promoted Shire to go public with its $30.6bn all-stock offer. This hostile move is aimed at drawing out Baxalta shareholders in an attempt to push the Board to enter negotiations. Shire held an investor call today where it laid out its rationale for the deal and articulated how it would allow the company to reach a $20bn revenue company by 2020 and become the undisputed rare disease leader (here).
MorphoSys based out of Munich and G7 Therapeutics AG of Zurich announced today that they have signed an agreement to collaborate on novel antibody therapeutics targeting G protein-coupled receptors (GPCRs) and potentially other disease-related transmembrane proteins such as ion channels. Under the terms of the agreement, G7 Therapeutics will generate a set of disease-relevant receptors proposed by MorphoSys. MorphoSys will then apply its proprietary Ylanthia antibody library to discover and develop antibody therapeutics against these receptors. MorphoSys has the right to sublicense to third parties the access to these targets in conjunction with therapeutic antibody candidates.Dr. Marlies Sproll, Chief Scientific Officer of MorphoSys AG, commented: “G7 Therapeutics’ approach using directed evolution technologies broadens our existing development capabilities in this innovative area of research. High quality therapeutic antibodies targeting GPCRs and other transmembrane molecules represent a promising addition to our proprietary development pipeline.”
In the recent analyst call for Shire’s Q2 results, CEO Flemming Ornskov suggested that the company was still scouting for acquisitions which would bolster the pipeline in the strategic areas he has set out as priorities. Cognizant that valuations are looking stretched in some areas of biotech, not least rare diseases, the Shire philosophy was seemingly was to look for good value.
Alexion took everyone by surprise in recent weeks by announcing a very sizable acquisition of Boston-based Synageva for $8.4bn. This was a significant deal which will only serve to strengthen valuations of rare disease biotechnology companies, which continue to be in the M&A cross-hairs of both pharmaceutical and big-biotech companies.