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Pharminox Ltd, a private oncology R&D company backed by IP Group, is to carry out joint research into novel small molecule chemotherapeutics with Schering-Plough.

Anglo-Dutch antibody specialist PanGenetics BV has agreed a collaboration with Lay Line Genomics SpA of Rome, Italy, in the field of therapeutic antibodies for the treatment of pain.

Cambridge Biostability, a developer of temperature-stable liquid vaccines, agreed a joint venture with Panacea Biotec of India.

Galapagos NV is bolstering its ability to select drug targets and compounds by acquiring Inpharmatica Ltd in an all-share transaction that values the UK bioinformatics company at €12.5 million.

In the highest value deal yet seen for a preclinical pipeline, GlaxoSmithKline plc swooped on Domantis Ltd, paying £230 million cash for the six-year-old UK Medical Research Council spin out.

Ireland’s new Biomedical Diagnostics Institute was launched last week as the focus for industrial-clinical-academic research collaborations.

The UK is setting up a national network to carry out clinical trials of paediatric medicines, filling the gap left by pharmaceutical companies which usually test drugs only on adults.

Seven partners have teamed up with €2.4 million in EU backing to develop a vaccine against Alzheimer’s disease.

For European tech start-ups, 2006 was the year that the traffic lights for money switched from red to yellow. Yet to be seen is whether they finally go green next year.

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