Business

AstraZeneca has announced that Covis Pharma will pay $350 million up front for the rights to market Alvesco ciclesonide MDI and the ciclesonide nasal spray Omnaris and nasal MDI Zetonna outside of the US. The deal also includes up to $21 million in potential payments conditioned on sales over the 4 years beginning in 2019. Covis acquired US rights to Alvesco, Omnaris, … [Read more...] about Covis Pharma acquires additional rights to Alvesco, Omnaris, and Zetonna from AstraZeneca

Receptor Life Sciences has raised $29 million for development of several cannabinoid products, the company said. In 2016, MannKind Corporation announced that it had licensed its dry powder inhalation technology to Receptor, which was then newly formed. According to the company, "Receptor’s inhalation technology combines a simple-to-use, breath-powered inhaler … [Read more...] about Receptor Life Sciences raises $29 million

Glenmark Pharmaceuticals has officially opened its first US manufacturing site in Monroe, North Carolina, the company said. The 100,000 sq ft, $100 million facility will eventually produce hundreds of millions of doses in various forms annually, including 25-30 million inhalation ampoules. The site currently employs 168 people, and the Glenmark said that it expects … [Read more...] about Glenmark opens new manufacturing facility in US

According to the Scottish government, a new manufacturing facility built by GSK in Montrose to produce APIs for its Ellipta dry powder inhalers officially opened on October 22, 2018, with Scottish First Minister Nicola Sturgeon in attendance. Sturgeon commented, “This new facility is testament to GSK’s commitment to Montrose and reinforces the region’s position … [Read more...] about GSK opens new Ellipta API manufacturing facility in Scotland

Galecto Biotech announced that it raised €79 million in a series C financing round that will be used to fund a Phase 2/3 study of its TD139, an inhaled galectin-3 inhibitor, for the treatment of idiopathic pulmonary fibrosis (IPF). New investors included Ysios Capital, OrbiMed, HBM Healthcare Investments, OrbiMed Israel, Maverick Ventures, Seventure Partners, and … [Read more...] about Galecto Biotech raises €79 million for Phase 2/3 study of its inhaled galectin-3 inhibitor

VistaGen Therapeutics said that it has exercised an option to acquire an exclusive worldwide license for Pherin Pharmaceutical's PH10 intranasal steroid, which is in Phase 2 development for the treatment of major depressive disorder (MDD). According to the company, a Phase 2a study of PH10 conducted by MIchael Liebowitz of Columbia University demonstrated significant … [Read more...] about VistaGen acquires second Pherin nasal spray

Milestone Pharmaceuticals said that it has completed an $80 million financing round led by RTW Investments, a new investor. Proceeds will be used for Phase 3 development of its intranasal etripamil for the treatment of paroxysmal supraventricular tachycardia (PSVT), which recently got underway, for certain commercial activities prior to an anticipated launch of the … [Read more...] about Milestone Pharmaceuticals raises $80 million for Phase 3 development of intranasal etripamil

Canadian cannabis grower FSD Pharma has signed a letter of intent to acquire Therapix Biosciences for $48 million, the company said. Therapix has licensed intranasal cannabinoid delivery technology from Yissum Research Development Company, which is the technology transfer company for Hebrew University, and cannabinoid researcher Raphael Mechoulam of Hebrew University … [Read more...] about FSD Pharma to acquire Therapix Biosciences

A joint venture of Cipla, Cooper Pharma, and the Pharmaceutical Institute has constructed a new metered dose inhaler manufacturing plant in a suburb of Rabat, Morocco that opened officially as of October 14, 2018. The $6.4 million plant is situated on a 4,000 sq m site and has a capacity of 1.5 million MDIs per year. Eleven of the 15 different SKUs of MDIs … [Read more...] about New MDI manufacturing facility opened in Morocco