OR WAIT null SECS
Xoma Restructures; AAIPharma Appoints Eric Evans as CFO; and More.
Bayer HealthCare through its US Innovation Center plans to provide shared laboratory space for start-up companies with the opening of the CoLaborator, a 550-m2 (5920.150 ft2) shared laboratory for start-up life-sciences companies whose technology platforms, drug targets, or drug candidates align with Bayer’s portfolio. The CoLaborator is expected to house three or four small companies. Bayer plans to launch the facility by late summer 2012 at its Mission Bay, California, location. Read More
ShangPharma, a CRO, has opened a new facility for Eli Lilly. The newly opened facility adds 110,000 ft2 of laboratory and office space to the company’s overall capacity and will support Lilly’s ongoing and future projects. The opening of the facility coincides with the multiyear extension of ShangPharma’s contract with Lilly. Read More
Sigma-Aldrich has agreed to acquire BioReliance Holdings, a provider of biopharmaceutical testing services, from Avista Capital Partners for $350 million in cash. The acquisition is subject to customary closing conditions, including regulatory clearance, and is expected to close in the first quarter of 2012. Read More
Xoma, a biotechnology company, has announced organizational and structural changes that are designed to reduce manufacturing costs as part of an overall cost-cutting effort. The company plans to reduce personnel by 84 positions, including 50 positions to be eliminated immediately and the remainder by the end of the first quarter of this year. The staff reductions result primarily from the company’s decisions to outsource its Phase III and commercial production operations to contract service providers. This reduction in fixed costs allows investment of a similar amount into gevokizumab's clinical development during 2012. Read More
In other news:
Sanofi is coinvesting in Warp Drive Bio, a start-up biotechnology company focused on proprietary genomic technology to discover drugs of natural origin, along with two venture capital firms, Third Rock Ventures and Greylock Partners.