BB Biotech rejects opportunity to increase portfolio value by 30%
This article was originally published in Scrip
Executive Summary
Vontobel Group, the Swiss bank, says it has no intention of going hostile in its bid to restructure BB Biotech into an unlisted investment fund following a firm rejection from the investment company's board. In an unsolicited move, Vontobel notified the BB Biotech board that it was willing to make an offer that would enable shares of BB Biotech to be exchanged for shares of an investment fund that would be newly established but would contain the same assets.
You may also be interested in...
AI Firm Healx Raises $56M To Develop Affordable Rare Disease Treatments
Cambridge, UK-based Healx has concluded a $56m series B round, led by Atomico, to put up to 50 potential rare disease treatments into the clinic within two years using its AI/ML platform.
Abalos Raises €12M Series A To Develop Arenavirus-Based Cancer Therapies
Tapping into the ability of arenaviruses to deliver prolonged local immune activation, rapid regression of localized and metastatic cancers, and long-term disease control, Essen, Germany-based start-up Abalos Therapeutics has raised €12m to advance its lead candidates towards clinical testing.
Despite BMS Bid, Celgene Pays $75m Upfront For Immatics Assets Options
Celgene agrees to pay $75m upfront for options to three Immatics TCR-T targets for solid tumors. Deal could be worth up to $1.59bn to the German biotech, which also retains option to co-develop and co-fund certain licensed products.