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June 9, 2016

Deals this week: Takeda Pharma, Cellectrion AB, Vascular Biogenics

Takeda Pharmaceutical and Roivant Sciences have formed a joint venture company called Myovant Sciences, to develop innovative therapeutics for patients suffering from hormone driven diseases and disorders.

Takeda Pharma

Takeda Pharmaceutical and Roivant Sciences have formed a joint venture company called Myovant Sciences, to develop innovative therapeutics for patients suffering from hormone driven diseases and disorders.

According to the agreement, the new joint venture company will develop new medicines for women’s health and prostate cancer and contribute to improve the lives of millions of patients.

Cellectrion AB has entered a partnership agreement with Nuerexpert to further advance its proprietary Cellaxess Elektra Discovery Services Screening platform and central nervous system (CNS) drug discovery.

According to the agreement, both companies will jointly promote their CNS drug discovery expertise mainly in synaptic function assays and also extend their research into treatments of CNS disorders within the fields of psychiatry, neurology, pain and nuerodegeneration.

Vascular Biogenics has announced to raise gross proceeds of approximately $24m through the private placement of its ordinary shares. The offering will be subscribed to by institutional investors based in the US.

Rodman & Renshaw, a unit of H.C. Wainwright, is acting as the exclusive placement agent for the company.

The company plans to invest funds in advancing clinical programmes, increasing working capital, and for general corporate purposes.

Vedanta Biosciences has raised funds amounting $50m in a venture financing round led by Rock Springs Capital, Invesco Asset Management, Health for Life Capital and Puretech Health.

"Vedanta Biosciences has raised funds amounting $50m in a venture financing round led by Rock Springs Capital, Invesco Asset Management, Health for Life Capital and Puretech Health."

The company plans to invest the funds to advance autoimmune disease programmes and further develop its technology platform.

The Medicine Company plans to raise gross proceeds of approximately $350m through the private placement of 2.75 convertible senior notes due on 15 July 2023.

The offering is expected to be completed by 10 June 2016 and will be subscribed to by qualified institutional buyers.

The company plans to use the funds to repurchase its convertible notes due in 2017, while a part of the proceeds will be used for general corporate purposes.


Image: Takeda Pharmaceutical and Roivant Sciences have formed a joint venture company called Myovant Sciences. Photo: Courtesy of Lombroso.

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