Bristol-Myers Squibb, a leader in the race to develop new immuno-oncology therapies, is pairing up with Five Prime Therapeutics to come up with a second set of cancer therapies that target two undisclosed immune checkpoint pathways in a deal worth up to $350 million.
Three well-groomed biotech outfits aim to sustain the frenzy for new biotech stocks on Wall Street. This week Acceleron Pharma, Bind Therapeutics and Five Prime Therapeutics proposed price ranges for their planned initial public offerings.
Five Prime Therapeutics wants to follow more than two dozen other drug developers this year onto the public market. The South San Francisco-based biotech, a developer of protein drugs, has filed paperwork to complete an initial public offering.
Fresh off the approval of lupus drug Benlysta, red-hot Human Genome Sciences ($HGSI) is paying $50 million up front and up to $445 million in milestones to gain development rights for FivePrime's