Philogen foiled again in IPO fusion confusion
This article was originally published in Scrip
Philogen pulled its planned initial public offering at the eleventh hour after Bayer Schering Pharma informed the Swiss-Italian biotech that it was terminating licensing and development contracts covering Darleukin, a fusion protein consisting of the human vascular targeting antibody L-19 and interleukin 2 (IL-2). The compound has completed Phase II testing to treat renal cell cancer. Philogen told Scrip that the decision to scrap the programme was unexpected.
You may also be interested in...
Charting the executive gender mix across 384 companies from mid-2014 to mid-2019 demonstrates that C-suite gender balance in pharma is moving towards a point that more closely reflects its total workforce, but that progress has been slow and that there is a long road to travel before the transformation is complete.
With gender diversity only slowly increasing in biopharma c-suites, Scrip spoke to executives from five companies about the importance of change.
In a flat month, the market value of big pharma changed little overall. But the balance of power in immuno-oncology did shift significantly.