Welcome to the latest edition of our weekly EuroBiotech Report. Neil Woodford made a statement about where he sees value in biopharma in a rejig of his portfolio. Woodford's fund got deeper into Circassia (LON:CIR), pulled out of Sanofi ($SNY) and criticized GlaxoSmithKline ($GSK) for performing "poorly operationally." Over in mainland Europe, Servier continued its partnership-driven push into oncology by scooping up regional rights to Taiho Pharmaceutical's refractory metastatic colorectal cancer drug in a $130 million (€115 million) deal. And Medigene filed to raise up to €50 million ($56 million) from investors to finance the advance of its T-cell receptor R&D programs. Celyad, Chiasma and a phalanx of French biotechs cast their fundraising nets across the Atlantic. The plan for Celyad and Chiasma is to haul in $185 million through Nasdaq IPOs, while the French biotechs rolled into New York to woo U.S. investors. And more. Nick Taylor (email | Twitter)
1. Woodford exits Sanofi, doubles down on Circassia in portfolio rejig
Neil Woodford has pulled out of Sanofi and doubled down on Circassia, snapping up a 13.5% stake in the British allergy specialist. The deals were two of a string of stock sales and buys made by the fund manager as he shuffled his deck in recent weeks.
2. Servier bags EU rights to colorectal cancer drug in $130M deal
Servier has continued its push into oncology and search beyond its walls for innovation by striking a $130 million (€115 million) deal with Taiho Pharmaceutical. The fee, which is made up of an upfront payment and near-term milestone, will give Servier the rights to Taiho's treatment for refractory metastatic colorectal cancer.
3. Medigene files to raise €50M to hit gas on T-cell R&D programs
Medigene is preparing to ratchet up investment in T-cell receptor (TCR) R&D programs. The plan is to raise up to €50 million ($56 million), funnel the cash into R&D programs and create a pipeline of up to 10 TCRs.
4. Celyad, Chiasma hop aboard Europe to Nasdaq express in bid to raise $185M
Celyad and Chiasma have joined the growing list of European biotechs to barrel into Wall Street in search of dollars. The companies are aiming to raise a total of around $185 million (€164 million), a sum that will go toward a mix of late-phase trials and CAR-T R&D.
5. French biotech CEOs roll into New York with money on their minds
A phalanx of French biotechs rolled into New York this week for a meeting with life science investors. And among the 20 biotechs at the flesh-pressing festival were some laying the groundwork for IPOs on Nasdaq, including Eli Lilly ($LLY)-partnered diabetes player Adocia.
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