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Biomira Retains Janney Montgomery Scott to Explore Pipeline Development Options
Biomira Retains Janney Montgomery Scott to Explore Pipeline Development Options.
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"\n\n\n\n\nEDMONTON, June 20 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) today\nannounced that it has retained Janney Montgomery Scott to help the Company\nexplore pipeline development options.\nJanney will work with Biomira to identify in-licensing and acquisition\nopportunities that are a natural fit with the Company's core competencies and\nresources in the development of innovative, targeted therapeutics that extend\nthe quality and duration of patients' lives. Biomira is seeking mid-stage\nproducts with good safety and efficacy data, and option rights to or license\nearlier stage product candidates. The immediate focus is on oncology products.\nIn January, Biomira announced that its partner Merck KGaA of Darmstadt,\nGermany, would take full control of the phase 3 study program for its lead\ncancer vaccine product, Stimuvax(R) (formerly L-BLP25) with effect from March\n1. Without the costs and risks associated with the future development of\nStimuvax(R), Biomira's resources will now be deployed on the development of\nthe follow-on vaccine L-BGLP40 and on other late pre-clinical and clinical\nproduct candidates to be acquired through in-licensing.\n\"With the phase 3 development program for Stimuvax(R) now being led by\nMerck KGaA, we are focusing our efforts and resources on building a\ncomprehensive and diversified pipeline that will take advantage of our product\ndevelopment and clinical trial expertise,\" said Edward Taylor, Biomira's\ninterim President and CEO. \"Janney has extensive experience and understanding\nof the biotechnology space and has already started to identify promising\nopportunities for Biomira, which we are actively exploring. Our goal is to\ncomplete our due diligence in the next few months and then be able to discuss\nour expanded pipeline more fully. We look forward to updating the market on\nour progress in due course.\"\nStephen Hurly, Managing Director and Head of the Life Sciences Group at\nJanney, commented, \"Biomira has strong proprietary immunology and organic\nchemistry technologies as well as excellent research, development, regulatory\nand clinical expertise which we believe make it an attractive partner for many\nother companies and products. We look forward to assisting Biomira with the\nimportant task of developing a high quality pipeline to complement its leading\nposition in the can...