DUBLIN – European biotechnology firms engaged in the discovery and development of drugs and other therapeutic modalities raised $2.366 billion in equity financing during the third quarter, taking the running total for the year so far to $5.570 billion.

LONDON - The Brexit factor appears to be holding back fundraising across all sectors in the U.K., and life sciences is no exception. After a small pick-up in the second quarter, the third quarter has disappointed, with £214 million (US$263.2 million) raised by U.K. biotechs across the public and private markets.

A large-scale U.K. clinical trial of a portable electronic nose device has shown it is possible to distinguish bacterial from viral infection in an unselected population of patients presenting with a respiratory tract infection (RTI) symptoms, at the point of care.

LONDON – Preparations for a no-deal Brexit are intensifying, with the government repeatedly saying the U.K. will leave on Oct. 31, and little sign that an agreement on an orderly exit will be reached by then. The U.K. Bioindustry Association (BIA) has stepped up its efforts to help members prepare, planning a series of events around the country and switching from monthly to weekly webinars, to provide up-to-date guidance in what is a fluid situation.

LONDON – There is an urgent need for changes to the health technology assessment (HTA) of new antibiotics, to incentivize investment and limit the development of antimicrobial resistance (AMR).

LONDON – The industry has hit out at a proposal by the U.K.'s opposition Labour party to create a state-owned generic drugs company to supply the National Health Service and to force companies to cut the cost of expensive proprietary products.

DUBLIN – Versantis AG raised CHF16 million (US$16.1 million) in a series B round to progress clinical trials of a liposomal-based fluid in development for eliminating ammonia and other toxic metabolites from the circulation of patients in acute stages of liver failure who are undergoing peritoneal dialysis.

Croívalve, a Dublin-based startup supported by Enterprise Ireland that is developing a treatment for tricuspid regurgitation (TR), recently secured €4 million (US$4.4 million) in additional financing. The financing includes €2.5 million from the EU's Horizon 2020 SME Instrument grant and €1.5 million from Broadview Ventures and current investors Halo Business Angel Network Medtech and Irrus Syndicates, Atlantic Bridge University Fund and Sos Ventures. The funding will accelerate the development of the company's technology into first-in-human (FIH) studies.