Neose selling out to Novo Nordisk, BioGenerix

Neose Technologies Inc. reached agreements Thursday to sell its assets to two foreign drug company collaboration partners for about $43 million.
The struggling Horsham, Pa., biopharmaceutical company stock was trading at 23 cents a share when the deals with Novo Nordisk of Denmark and BioGenerix of Germany were signed.
The asset sales are the initial step in a contemplated liquidation of Neose.
Neose (NASDAQ:NTEC), which specializies in using its enzyme pegylation technology to remodel molecules and develop next-generation therapeutic proteins, has been working with BioGenerix on a treatment for chemotherapy-induced neutropenia (which causes a drop in infection-fighting white blood cells), and with Novo Nordisk on an improved hemostasis compound to inhibit bleeding.
Under the terms of the deal, Neose is retaining certain intellectual property rights, including those related to producing glycolipids, for “future disposition.”

ProFibrix Expands Management Team and Opens US Subsidiary

ProFibrix B.V., a Dutch biotech company focused on products to stop bleeding and initiate tissue repair, today announced that it has added Jan Ohrstrom, MD as COO to its Executive Management team. Dr. Ohrstrom was previously part of the Senior Management team that took ZymoGenetics Inc public, and played a key role in bringing Recombinant Human Thrombin to the US market. Dr. Ohrstrom will be based in Seattle, WA, where ProFibrix has established a wholly owned subsidiary. ProFibrix Inc. will facilitate the preparations of a global pivotal Phase II/III trial for the lead product FibrocapsTM, to be conducted in 2009/2010. Additionally, the subsidiary will allow ProFibrix significantly greater access to US pool of investors.
Dr. Jaap Koopman, Founder and CEO of ProFibrix said: "We are delighted with the decision of Dr. Ohrstrom to join ProFibrix. His extensive expertise in the management of drug development and business operations will be a tremendous asset to ProFibrix as we continue to move our products through clinical development towards commercialization and prepare for the next financing round early next year."
Dr. Jan Ohrstrom commented: "Joining the team at ProFibrix was a logical step, I have known the company for a number of years, assessed the FibrocapsTM technology and found it an excellent platform with several product opportunities. Within the field of haemostasis recombinant Fibrinogen could become the next big breakthrough, and ProFibrix is well positioned to bring this novel therapeutic protein successfully to patients. Our office in Seattle will expand the company's reach into additional drug development expertise and at the same time provide easy access to US investors for the follow-up financing of ProFibrix.
It's an exciting time for us to open ProFibrix Inc."