Four more drug developers are angling to make Wall Street debuts, lining up to raise a combined $269 million as the market for biotech IPOs has shown renewed signs of life after a tepid spring.
Mersana Therapeutics has inked another antibody-drug conjugate development pact, this time with the R&D team at Merck KGaA in Germany.
While the world's biopharma players are still working to solve the problem of R&D productivity, they're hardly being stingy in the process. R&D spending across the industry leapt 14% last year, according to EY, a sharp rebound reflecting renewed optimism among drug developers and their investors.
Well-known biotech entrepreneur Katrine Bosley--noted for orchestrating the $925 million deal to sell Avila Therapeutics to Celgene--is taking the helm at one of the hottest new biotechs in the biz.
Cutting loose from the hepatitis C market, Vertex bet the house on its late-stage trials for a breakthrough combination cystic fibrosis drug. And today the biotech reported that it won that blockbuster gamble, coming up with pivotal Phase III proof of efficacy that will be quickly hustled to regulatory groups in the U.S. around the world in the expectation of reaching a potentially megablockbuster market.
After dismissing three escalating takeover bids from AbbVie as too cheap, Shire is promising to double its annual sales by 2020, touting its pipeline as a blockbuster farm best tended without outside meddling.
AstraZeneca's reconstructed case for the cancer drug olaparib is built on the fundamental premise that the new management team at the pharma giant is a whole lot smarter than the old crew. After a retrospective analysis found a subgroup response in the data for ovarian cancer, CEO Pascal Soriot not only ordered the team to renew its pursuit of an approval, he later assigned a $2 billion peak sales value to the program.
The Boston-based biotech Gelesis has a pair of high-profile godfathers from the research world, a fresh $12 million venture round and an intriguing new approach to treating obesity that steers clear of the brain-targeting chemicals now struggling to gain traction on the market. But the new data put out this morning fell flat with at least one of the experts in the weight-loss field.
Roche has turned to its incubation partners at Versant Venture's Inception Sciences to create a virtual biotech which will set out to spawn new therapies that can repair the damaged nerves of patients with multiple sclerosis.
Over the past 7 months, Dimension Therapeutics has been moving fast to take its place among a new wave of gene therapy developers looking to revolutionize the way some diseases are treated.
Takeda, Japan's largest drugmaker, has gone through a series of reorganizations in its efforts to take a bigger share of the global market, a process that has included recruiting leadership outside of its native country. That's not sitting very well with some former executives.
Antisense specialist Isis Pharmaceuticals has made it all the way to mid-stage trials with ISIS-APOCIII, targeting patients with a rare ailment that leads to dangerously high triglycerides. But that candidate is looking all the more promising in light of two major studies linking its target to reduced rates of heart attack, saddling the biotech with a potential blockbuster.
Gilead Sciences' Sovaldi has broken sales records thanks to its ability to cure hepatitis C with an effective, if costly, 12-week regimen. But rivals believe there's plenty of room in the market for a speedier solution, and Bristol-Myers Squibb plans to use its ex-partner's blockbuster to craft a four-week contender.
Sanofi is breaking it off with oncology partner Merrimack Pharmaceuticals, handing back full rights to MM-121, a treatment that has three times failed to hit the mark in midstage studies.
Biotech upstart Kite Pharma made its Wall Street debut Friday, pulling off an upsized IPO on the strength of investor fervor over a novel, headline-making approach to treating cancer.
AbbVie announced late Thursday night that it had made three passes at Shire in recent weeks, bumping its nonbinding offer to $78.87 a share in cash and stock and getting turned down at each attempt.