Biomira retains Janney Montgomery Scott to explore in-licensing, acquisition deals

By E. Janene Geiss

Philadelphia, June 20 - Biomira Inc. said Tuesday that it has retained Janney Montgomery Scott to help the company explore pipeline development options.

Janney will work with Biomira to identify in-licensing and acquisition opportunities that are a natural fit with the company's core competencies and resources in the development of innovative, targeted therapeutics that extend the quality and duration of patients' lives, according to a company news release.

Biomira said it is seeking mid-stage products with good safety and efficacy data, and option rights to or license earlier-stage product candidates. The immediate focus is on oncology products.

In January, Biomira announced that its partner Merck KgaA of Darmstadt, Germany, would take full control of the phase 3 study program for its lead cancer vaccine product, Stimuvax (formerly L-BLP25), with effect from March 1.

Without the costs and risks associated with the future development of Stimuvax, Biomira said its resources will now be deployed on the development of the follow-on vaccine L-BGLP40 and on other late preclinical and clinical product candidates to be acquired through in-licensing.

Biomira is an Edmonton, Alta., biotechnology company focused on cancer management.

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