Keyword: Tobira Therapeutics
California investment firm Frazier Healthcare Partners has gone over its hard cap target of $400 million as it looks to inject cash into early life science work.
Within the same day that Allergan announced a $1.7 billion buyout of tiny NASH biotech Tobira, the Botox maker announced it had bought yet another fatty liver disease company, although for far less and for a much earlier stage candidate.
Biotech reverse mergers are becoming more acceptable and are more commonplace this year. But startups are already ramping up for IPOs during the first half of 2017.
On the back of a number of deals in recent months, mainly in dermatology and after dodging its own $100 billion-plus consumption by Pfizer this year, Allergan has snapped up tiny Tobira and its struggling fatty liver disease candidate, along with the rest of its pipeline, for potentially $1.7 billion.
Tobira Therapeutics fell by about half in premarket trading on news that its Phase IIb trial to treat nonalcoholic steatohepatitis (NASH) failed to meet the primary endpoint.
Tobira Therapeutics has signed a new deal with Dong-A ST to help turn its diabetes drug into a new fatty liver combo treatment.