Welcome to the latest edition of our weekly EuroBiotech Report. We start this week with BioNTech, which set the terms of a Nasdaq IPO that could see it raise $251 million at a $4.5 billion valuation. BioNTech's German compatriot, Bayer, also advanced its U.S. strategy, teaming up with Brigham and Women's Hospital and Massachusetts General Hospital to create a joint lung disease research lab. Elsewhere, Oncimmune revealed Tariq Sethi is set to leave AstraZeneca to become its chief scientific officer. Amryt Pharma completed the acquisition of Aegerion Pharmaceuticals. A clutch of biotechs were among the 2019 crop of Fierce 15 winners. And more. — Nick Taylor
1. BioNTech guns for $250M raise at $4.5B valuation in IPO plan
BioNTech set the terms of its Nasdaq IPO. If BioNTech hits the midpoint of the range, it will raise $251 million (€228 million) at a $4.5 billion valuation, giving it the financial might to fund its broad clinical development pipeline.
2. Bayer, Boston academics form joint lab to research lung disease
Bayer, Brigham and Women's Hospital (BWH) and Massachusetts General Hospital have teamed up to work on treatments for chronic lung diseases. The partners will work out of a joint lab located at BWH in Boston that will receive more than $30 million over the next five years.
3. Sethi to leave AstraZeneca to take up Oncimmune post
Tariq Sethi is set to leave AstraZeneca to join Oncimmune as chief scientific officer at the start of next month. Sethi spent the past four years at AstraZeneca, rising to the post of chief physician scientist at its clinical discovery unit.
4. Amryt buys Aegerion via bankruptcy, adding sales to support R&D
Amryt Pharma has completed the acquisition of Aegerion Pharmaceuticals. The deal, which comes after Aegerion filed for Chapter 11 bankruptcy, gives Amryt near-full control of two commercial drugs that could provide revenues to support its protracted attempt to get AP101 to market.
5. FierceBiotech's 2019 Fierce 15
Biotechs from Belgium, the U.K. and Spain—including one that has twice broken its life science VC raise record—are on the winners’ list.
And more articles of note>>