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UK: British Business Bank to commit up to £135m to two new Advent Life Sciences funds

Life Sciences Nick Herbert -
The British Business Bank, the UK government’s economic development bank, has agreed to commit £60m to Advent Life Sciences Fund IV and committed £75m to Advent Life Sciences Growth Fund, bringing its total commitment across these two strategies to £135m (US$179m). Together, these investments will help create deeper pools...

Germany: Grünenthal acquires cancer treatment from Bayer AG for up to €375m

Debt Nick Herbert -
Grünenthal, a Germany-headquartered global pharma focused on pain management, has agreed to acquire Stivarga, an oral treatment for specific advanced cancers, from Bayer AG for up to €375m (US$430m). Stivarga (regorafenib) is an oral multkinase inhibitor indicated for metastatic colorectal cancer, hepatocellular carcinoma and gastrointestinal stromal tumours (GIST) in patients who have already been treated with, or who cannot be given, other available treatments. It is approved and available in more than 90 markets worldwide. “This acquisition is a strong strategic fit for Grünenthal,” said Gabriel Baertschi, CEO, Grünenthal. “By leveraging...