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Aventis Streamlines R&D
Pharmaceutical Executive
Aventis announced plans to cut R&D costs by spinning out a stake in one of its research units. The private equity house Warburg Pincus will invest 60 million euro in ProSkelia, taking a 58 percent share.
Aventis announced plans to cut R&D costs by spinning out a stake in one of its research units. The private equity house Warburg Pincus will invest 60 million euro in ProSkelia, taking a 58 percent share. Aventis will retain the other 42 percent. ProSkelia, based in Romainville, near Paris, France, special-izes in early-stage research into treatments for bone disease.
Aventis also intends to spin off its gene therapy unit, Gencell, but it has yet to find a partner that is prepared to meet its valuation. Attempts to reduce research cash burn follow Aventis' discontinuation of trials for two of the company's pipeline compounds. Development of the ACE/NEP (angiotensin con-verting enzyme/neutral endopeptidase) inhibitor M100,240 for the treatment of hypertension was stopped after a Phase II clinical trial yielded disappointing results. Aventis says it intends to examine the drug's possibilities in other therapeutic uses.
It has also terminated a co-development agreement with ViroPharma of Exton, Penn-sylvania, for the antiviral agent Picovir (pleconaril), intended to treat the common cold. FDA issued a non-approvable letter for it in May.
Fierce Females in the Life Science Space
March 29th 2024In this week’s episode, in recognition of international women’s month, Editor Miranda Schmalfuhs has compiled audio clips from interviews with female KOLs that she's been fortunate enough to speak with over this past month for content across a few of our brands.
