The theory was that biotechs would become the innovation engine of Big Pharma, creating the products that drug companies would commercialize. Now, the trend has reversed itself. Drug companies are helping biotechs fill their pipelines, but with this twist--biotechs are then going out and selling those products to someone else at higher valuations.
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The UK government has awarded “urgent public health status” to a clinical trial program that will test one investigational product and four existing drugs in an effort to quickly find new treatments for patients hospitalized with serious COVID-19 infection.
Kymera will receive $150m upfront from Sanofi in a deal the big pharma views as an opportunity to develop a breakthrough oral drug for atopic dermatitis and other conditions.