Biomira to explore pipeline options

Canada's Biomira says 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. Biomira 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 III study program for its lead cancer vaccine product, Stimuvax (formerly L-BLP25) with effect from March 1. Without the costs and risks associated for the future development of Stimuvax, Biomira's resources will now be deployed on the development of the follow-on vaccine L-BGLP40 and on other late preclinical and clinical-stage product candidates to be acquired through in-licensing.